Moonbird bird launched contracts as scheduled. Here's a summary of the logic and key points worth thinking about: Logic: ① Cost: Launched on cb + alpha, a few million in sell pressure has been offloaded. ② Tokens: NFT lock-up in batches, project tokens are also limited, overall token supply is very small. Summary: If it drops too much, it won’t make it to perp. Launching on these smaller exchanges won’t make money. For projects with low circulation and full of FUD, pulling the price up, operating, and launching on perp to offload tokens is more likely to make money compared to dumping. Points worth thinking about: ① We need to pay attention to tokens abandoned by the community. ② Project FDV: Calculated between $150M-$1.2B. After observing for a long time, this range is quite reasonable for VC-backed projects launching on perp. ③ Sorting out the logic is crucial.