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Is it ICO season now? What is the truth about high FDV? 1️⃣ First, how is FDV actually "priced"? Many people think FDV is decided arbitrarily by the project team before TGE or ICO, but in reality, FDV is basically locked in during the project's first financing. The reason is simple — early VC valuations are based on two things: 🔹 how much percentage they want to take