Zama looks like a classic open-low-then-pump scenario. I placed a 1M bid ranging from 0.02 to 0.04, but none of them got filled. The main concerns were the difficulty of hedging and the already narrow profit margin (it was 0.06 a couple of days ago, now it’s dropped to 0.05). If I bid too high and it gets filled, I’d worry about breaking below the offering price. So I thought I might as well bid lower and try to snipe a deal, but in the end, I didn’t manage to snipe anything lol. Overall, I don’t think the market pricing is really set at 550M. My guess is there’s a certain degree of manipulation involved. Around 50M rushed in during the last hour. If the project team has the funds, they can still play the game with this project, but it’s best if they have a clear understanding of the script and direction. Lastly, I hope the project team can refund those who didn’t win the bid ASAP After all, Binance’s USD1 savings still have an annualized return of around 11% right now.