four @fourmeme The first IDO project of the year @perpstock_bsc actually launched on OK, doesn’t it feel a bit off? Here’s a quick breakdown of the key points: - The main selling point is the new combo of 'perp + US stocks.' Not many projects in the RWA space are playing this narrative yet, so it’s a relatively fresh angle. - Unlike traditional tokenized stocks, this isn’t about tokenizing US stocks for spot trading. Instead, it’s directly offering perpetual contracts, allowing you to go long or short with up to 10x leverage. You can trade US stock volatility directly on-chain. - No KYC, no regional restrictions—just connect your wallet and you’re good to go. Super user-friendly for crypto natives. - FDV is currently around $20M. Personally, I feel this valuation is on the lower side for this narrative. The IDO was oversubscribed by 5x, so market sentiment seems decent. - The team has a clear TradFi background (think Fosun + Morgan Stanley), so their risk management and pricing shouldn’t be too out of line. At least it feels a bit more reliable than pure crypto-native teams. - A significant portion of the tokens (40%+) is allocated to the community. There might be some short-term sell pressure, but it also shows the team is aiming for long-term development rather than a quick cash grab. As of now, low FDV + a fresh narrative means there’s huge upside if it plays out, and the downside seems manageable if it doesn’t. A classic early-stage RWA project. Worth a lottery ticket. The fact that this IDO on four ended up launching on OK feels like there’s some insider story behind it.