Summary: Over the past 17 periods, an average of $110 million was given out each period🔻

The last time #Binance launched a Launchpool with a time period of 20 days or more was at the end of last year, when the overall market environment was in the final stage of liquidity shortage.

The market also began to show vitality and started to show phased trends at that time, followed by the launch of new projects at a frequency of two to three, or three to four projects per month.

  • $TON  As a token that has been on the market for a long time, the launch of this Launchpool is quite surprising.

Many people in the market think that this 50 million equivalent TON pool is quite large? #新币挖矿TON But after pulling the data, it was found that it was actually far below the horizontal line (the statistics in the chart are based on the closing price of the first day).

This actually shows that BN has indeed begun to make obvious adjustments in its listing strategy. It has currently selected targets from the open market for new coin mining for two consecutive phases.

Not sure whether this change is just a temporary adjustment to the listing strategy or whether it also includes a judgment on the future market conditions. @Yi He

But when I saw the stock market IPO and pre-market trading products some time ago, I suddenly thought:

(1) When a new protocol is listed on a mainstream exchange, if it is in this unissued state, can a [pre-trading betting market] be opened?

(2) Allow the holders of the chips that will enter circulation in the future to bid, and both parties finalize the pre-listing price and lock the position for the second time (regardless of the stage)

(3) This will further make the chip cost more transparent and the release of chips clearer.

After thinking about the poor performance of newly launched coins, in addition to the weak buyer power on the one hand, it is also closely related to the extremely opaque information of the sellers on the other hand.

Providing a level 1.5 market may make information about potential selling more transparent and provide a buffer zone for secondary market prices and sentiment.

How the traditional capital market can buffer institutional selling in the primary market is also a difficult problem to solve. However, because companies in traditional basic markets often have longer survival cycles and profitability, institutions can further reduce the pressure on the secondary market through over-the-counter bulk transactions.

But this approach is not mainstream in Web3, and there are not that many competitors in the upstream market.

Therefore, we consider whether it is possible to use this stage as the main functional area of ​​an exchange or protocol to launch a public large-scale over-the-counter trading platform to try to buffer the pressure of the secondary market.

This open block market actually solves the problem that chips enter the market circulation after listing, but this part of information is not transparent.

BlackRock once expressed it this way in a certain market: There are too many chips to take over, there are simply too many chips to take over. I don’t know where all the chips come from, and who is selling these shares (value coins)?