A potentially profitable IPO opportunity!
Recently, while lying low, our small group discussed whether to participate in the IPOs of XXX and XXX, and I realized that there are recent IPO projects beyond MegaETH and Stable.
There is also a DEX that ranks first in trading volume on Solana: HumidiFi, but we have already missed the best opportunity for community contribution whitelist.
This time, HumidiFi's $WET IPO allocates a total of 10% of the share, with 6% for community contributions, 2% for addresses staking Jup, and the remaining 2% on a first-come, first-served basis.
🤔 Is it worth participating?
1️⃣ Although it is said to be Jupiter's first ICO project, there have been similar IPOs before, only this time it has a new term: DTF (Decentralized Token Formation).
2️⃣ The market cap of the IPO is 69 million USD. As the current number one DEX in trading volume on Solana, the FDV can be referenced from the recent TGE of Meteora, where its token $MET FDV is 299 million USD.
By this comparison, HumidiFi's odds look pretty good.
🤔 So, how to participate?
0️⃣ The 6% for community contributions has already ended, so it's not considered.
1️⃣ The 2% for staking: One issue is that the snapshot time is uncertain; the launch is tomorrow, on 12.3, and it's unclear if there will still be opportunities for staking. Another issue is that staking must consider hedging to avoid a drop in token prices.
2️⃣ The 2% on a first-come, first-served basis: I'm preparing to give it a try, though I may not be able to get it.
Based on past experiences with first-come, first-served IPOs, it's very likely that it will be hard to get this time as well, but given the current market conditions, it might not be too competitive.
Additionally, I haven't played much on Solana in the past six months and am still quite unfamiliar with the HumidiFi project.
Note: The above is for informational sharing only and not investment advice. Please be sure to do your own research!
DeFi enthusiast: BitHappy
