ponzitalk

Been checking Echo from Cobie recently, mostly Monad projects for now. Not really a fan of chain specific apps.

But what caught my attention the most is, while platform is launched on premises of giving a collective retail group an early investing opportunity (in contrast to predatory pre market dynamics of VC projects), most apps did not really seem that "cheap" to me.

All of them 50m+ valuations. Which may not seam like a lot, but given many projects that raised from VCs earlier this year, launched token summer/early fall (with alt market bleeding), their valuation is equally reasonable. 

You often see fat discounts to previous rounds. And unlike Echo potential selection is much much wider.

Practical example of this, Thetanuts Finance (https://www.thetanuts.finance/)

Options protocol (via Vaults). First version launched in 21'. In yearly 24' launched V3 version. 

Notably, last round was lead by Polychain in 23'. 

Currently sitting at 4mil circulating/40mil FDV.

Metrics are more less poor for now (considering rather competitive segment). But products with no risk inherently have higher valuations.

Its very unlikely to be able to enter a pre sale of any legit product below 40mil FDV, let alone with no vesting.