There are obvious signs of counterfeit cattle. At this stage, if you want to make quick money, the focus is not on Level 2, but on Level 1.5=Launchpad/IDO. Igniting emotions from WLFI http://Pump.fun If BUIDLPad continues to attract funds, it can be seen that the funds are flowing back to "early issuance". Based on the recent performance of several platforms, a range of 1.5-2 times is not uncommon, so the focus should be on IDO in the near future. I am following one: DeXRP - a new DEX running on the XRP chain (XRPL), currently also working on IDO. My quick analysis ✅ Why pay attention to it? Bottom layer is cheap and fast: XRPL has low fees, fast confirmation, and is easier to convert "low costs" into smoother transactions - with smaller slippage points and better depth, making it less likely for large orders to distort prices. Time wise: The team announced the launch of Q4, coinciding with the rhythm of "early release/ICO resurgence" (WLFI http://Pump.fun 、 The popularity of BUIDLPad is proving. The data shows that over 6M have been raised, over 80% have been pre-saleed, and over 8k have participated; The current round price is about 0.12, with a target listing of 0.35 (giving a "benchmark price" as an anchor). Whether this anchor can stand still depends on timely delivery and liquidity organization after going online. If you want to study DeXRP yourself, you can read this article in Forbes and you will have new discoveries: https://www. (forbes.com)/sites/digital-assets/2025/09/02/defi-performance-gap-whats-holding-dexs-back-and-who-are-solving-it/ ✅ For the main project, I will focus on three things one ⃣ Delivery: Can Q4 be delivered on time without any delay. two ⃣ Experience: Smooth ordering, failure rate, sliding points and depth curves during peak periods. three ⃣ Money&Security: Size and distribution of LP/TVL after TGE, secondary audit/vulnerability bounty/open source scope. (Addendum: The pledge has been opened at present; Coinsult/SolidProof are listed in the audit; External cooperation disclosure: Cwallet/Micro3/WOW. Audit ≠ risk-free. ） ✅ Risks should also be explained clearly Delaying progress, poor unlocking and liquidity arrangements, or weakened regulatory/macro policies may all render the 'pricing anchor' ineffective. Be mentally prepared for project failure and don't use auditing as a talisman. Participation link: https://dexrp.org/ShHK3h4YGr8 ✅ One sentence conclusion If Q4 is delivered on time, trading is smooth (small slippage/good depth), and market making and ecological coordination keep up, there is a chance for narrative x media x pricing anchor to form a phased resonance; If the delivery fails or the liquidity is not awesome, there will only be excitement. DYOR。