Erichsu's Dailyshare: There is a wallet project that is going to sell tokens, have you used this wallet before?

@rainbowdotme will start selling the token $RNBW at 1:00 AM Beijing time on December 12, 2025. To cut a long story short, here are my thoughts:

1. Sales Valuation

The FDV is set at $100m, and the price of $0.1 USD is quite standard, not high. The official claim is that it is a 33% discount based on the valuation from the last round of private placement.

I checked, and back in February 2022, Rainbow raised $18m in Series A funding (yes, it’s that old of a project 😮‍💨). Considering the excitement at that time and the usual dilution ratio, the rough valuation back then was about 150m to 200m.

2. Is it worth investing?

I think there are two aspects to consider: whether there is excitement and whether the product has long-term value?

1) Excitement

It’s obvious that the recent hype of TGE investments has faded. Also, regardless of whether it's an information cocoon, I haven’t seen any articles related to Rainbow on my Twitter timeline for some time, so the project itself has very low popularity; looking at Coinlist, it’s really hard to bear. I participated in CL for Token logoBlockchain $OBOL and $FLEEK, which both failed miserably, so I think the new listing effect on Coinlist is also poor.

2) The Product Itself

This question is easier to answer; ask yourself, which wallet do you usually use, OKX? OneKey? Rabby? MetaMask? 🤷

I went to DeFi Alpaca and checked the data for the Rainbow wallet and compared it with the Trust wallet data for reference (I didn’t compare with MetaMask or OKX, as they are not on the same scale...).

I admit the Rainbow wallet has a good reputation, but its actual monetization capability is very poor; the trading frequency and TVL are far below that of leading wallets, which may also explain why Rainbow is in such urgent need of token issuance.

3. Personal Thoughts

I personally do not plan to participate; the logic does not make sense, and I can't convince myself. I can accept airdrops, but asking me to take out money is a no-go 🙅

If I had to randomly guess the opening trend, it might spike to $0.15 at the start and then consolidate around $0.08 to $0.10. Just a wild guess, and I don’t have to take responsibility for it 🤓

If you're interested, you can register on CL:

https://offers.coinlist.co/o/rainbow