When is Theo TGE? @TheoN_Network announced today the new thBILL Pendle market, which expires on February 19, 2026. Many friends want to buy some PT to gamble on. Don't worry, let's hear my analysis first. Firstly. From the product roadmap, Theo has been preheating its second RWA product, thGLD (interest bearing tokenized gold fund), for a long time. Theo will not rush into TGE until thGLD is successfully launched and surpasses a certain scale of TVL. At present, Theo is already the 9th largest RWA asset issuer in the world, and with only one product, thBILL, it has surged to become the second largest RWA agreement in Arbitrarum within three months. If thGLD can copy the success track of thBILL, Theo will no longer be just "another treasury bond token project", but a RWA infrastructure platform with diversified asset portfolio capability. Secondly. From the market perspective, the current situation is indeed not the best time for TGE. The listing performance of MON has sounded the alarm for all projects. In a bear market environment, even high-quality projects may face the dilemma of insufficient liquidity. Theo, a high valuation project that requires significant support (with a financing of $20 million), needs to wait for market sentiment to recover. So my judgment is that Theo's TGE schedule depends on three key milestones: THGLD goes live and reaches a certain TVL scale The overall market sentiment has rebounded from the current sluggish state Complete docking with top exchanges The best buying point may be a period of time after the launch of thGLD. At that time, with a complete product matrix and clear market expectations, it was actually a better opportunity to participate.