Compared to the lack of money, the current market actually lacks good projects
After experiencing the Trove and Space rug incidents, it was initially thought that everyone would be cautious about projects that require funding, but from the Bitway Kaito Launch event, it seems that everyone’s enthusiasm is high again
As of the publication of this article, it has already exceeded fundraising by 126%. Of course, this is also due to Bitway's good fundamentals. This article will discuss
❚ Valuation Inversion and Game Space
The most intuitive attraction of this public offering lies in price protection, with a public FDV set at 80 million USD, which is actually lower than the previous institutional round valuation of 100 million USD
This inversion in the first-and-a-half market valuation provides participants with a basic safety cushion
The unlocking aspect is set to release 50% at TGE, with the remaining portion unlocking 3 months after TGE, which somewhat reduces the selling pressure at the opening
The upper limit on the fundraising scale is controlled at 2.4 million USD, accounting for only 3% of the total supply, which is relatively healthy
❚ Resource Intersection of BNB and TRON Systems
Apart from price factors, the resource structure is another core focus
The project has just completed a seed round financing of 4.444 million USD, incubated by YZi Labs, with investments from TRON and HTX Ventures
On the product side, Bitway has already entered the Binance Wallet Booster system, gaining wallet-level ecological exposure
Co-founder Shane Qiu was an early core member of Binance Labs
In fact, it is rare to simultaneously receive resource bias from both the BNB and TRX systems
❚ Product Positioning and Existing Data
Unlike purely pursuing high returns from single-point products, Bitway is positioned as a large capital entry point for the BNB Chain
The team’s CTO Dave has participated in privacy infrastructure startups, with support from institutions like a16z, thus emphasizing institutional-level risk control at the product level
Current on-chain data also confirms this:
- Bitway Earn has accumulated over 80,000 users
- Daily active users maintain in the range of 2000 to 4000
- There is a dedicated VIP service system for large clients, focusing on unified execution and fund management
This public offering in Kaito is more viewed as a realistic entry point for ordinary users to access this narrative of large funds and resources
In simple terms, it means the big brother eats meat, and we should be able to sip some soup
$BNB
