Here we go again with the new listings. Gensyn is holding an ICO with a maximum FDV of 1 billion USD through an English auction. With such a high valuation, the project team must be extremely confident—who gave them the courage?

One of the ways the project team currently profits and harvests is by securing backing from well-known VCs, then packaging a narrative, and finally launching an ICO at a very high FDV to get in on the new listing.

Before the listing, they will launch a pre-market contract on the exchange, with a price higher than the valuation, to attract retail investors to buy in early. Because if you calculate based on the pre-market price, the ICO seems like a profitable move.

Next, it usually goes like this:

Either the price drops after the market opens, causing early participants to lose money.

For example, Monad was roughly like this—initially it broke the IPO price, but later it rebounded.

Similarly, Kaito’s Bitdealer ICO was like this, with an immediate break below the IPO price.

Another pattern is that some traders hedge their positions, causing the project to surge sharply, forcing short positions to be liquidated, and thus making a profit.

In general, there are many ways the project team makes money.

Today, the Bitdealer I collaborated with for the ICO has also made a return. Since my YAP score was not high, I partnered with a KOL with a higher YAP score for the ICO. Fortunately, this project has a mechanism to guarantee the principal even if it breaks the IPO price, so I applied for a refund and got my principal back.

Finally, today I received the Ganzhou navel orange sent by Touzong via mail—thanks to Touzong for the airdrop.

Wishing Touzong profits from airdrops every day!