The recent Almanak IPO on the Legion platform is now completely ruined. The valuation has been cut from 90M directly in half to 36M, and most participants have lost more than 60%.
To be honest, many IPO platforms nowadays have already become somewhat distorted. Project teams even skip dumping on decentralized exchanges and directly funnel tokens to retail investors through the platform— isn't that just a ready-made ATM? The process is indeed efficient, but the people taking the fall are a bit unfortunate.
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ChainSherlockGirl
· 20h ago
Damn, from 90M down to 36M, that must have been a terrible loss. Based on the on-chain data I've been tracking, the project team's wallet activity has been extremely frequent during this wave, and their dumping tactics are absolutely top-notch.
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SchrodingerWallet
· 20h ago
90M cut down to 36M, this is the daily routine of IPOs.
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MetaverseLandlady
· 21h ago
It's the same old trick again—platforms, project teams, and retail investors, forming a perfect triangular loop.
The recent Almanak IPO on the Legion platform is now completely ruined. The valuation has been cut from 90M directly in half to 36M, and most participants have lost more than 60%.
To be honest, many IPO platforms nowadays have already become somewhat distorted. Project teams even skip dumping on decentralized exchanges and directly funnel tokens to retail investors through the platform— isn't that just a ready-made ATM? The process is indeed efficient, but the people taking the fall are a bit unfortunate.