Already guessed that the 'wealth management bureau' would easily turn into the 'break-even bureau' in the end. Looking back now, the issue might not lie with the project itself, but rather in severely underestimating the time dimension. When participating in new launches, everyone focuses on the narrative, FDV, and unlock ratios, but the real factor that determines profit or loss often boils down to just one question: At the moment of TGE, is the bull market/FOMO still there? Once the cycle drags on, it means the logic that was valid at the start might no longer have any takers. Summary: For projects where the TGE is too far from the new launch cycle, no matter how good the narrative is, proceed with extreme caution.