Arseniy Belookiy

[SwitzerlandBest @Switzerland_aib]

Switzerland 🇨🇭

[Crypto Kit @KittaKitka]

😵 Backpack at $300M FDV? What kind of nonsense is that.

If that scenario actually happens, then any logic of evaluating a project by its product, team, community or anything else simply makes no sense. It means the market is broken and nothing can be valued properly.

There are two reasons for that.

1. Such a starting price would allow anyone to enter the token at a very low valuation, which would be extremely unfair to all existing users.

It would mean you didn’t need to support the project for years, buy NFTs, trade and actually use the platform just to get some kind of advantage.

If we look at the market from a retrodrop perspective, or simply from the cost of farming points, for most people the cost basis of those points is above $0.25–0.30.

A launch even at that level would cause a wave of laughter and celebration from all the haters.

They would win. Just like that.

If anyone can simply buy the token at TGE, stake it and receive equity - and that ends up being more profitable than farming points for a year - then it means all of us were idiots trying to earn points all this time.

Because you could have simply waited for TGE while FUDing the project and ended up in a better position than all the supporters.

Just like that.

2. If we can at least somewhat evaluate the quality of the project and what valuation Backpack should launch at - then in what universe does it come out at the level of a tier-4 perp DEX?

Over the past year many projects launched - Avantis, Paradex…

Is what @Backpack and @armaniferrante are building even remotely comparable to what those projects offer?

Not even close. It’s a completely different level.

So how exactly are we valuing them at the same level?

In that case we might as well forget about the project, the product and the builders entirely and just accept that it’s a roulette.

The project itself means nothing.
It will launch wherever the FUDers on X or the gamblers on Polymarket decide.

For me personally, a launch below $1.5B would be a huge misunderstanding, and I would simply accept the fact that I learned nothing during all these years in crypto.

And honestly, I only say $1.5B because I don’t want haters jumping on me trying to prove their point.

I actually believe the project should be valued significantly higher.

And the stories about “we’ll launch low and then go up”?

I’ve already said this before - if the community doesn’t receive any advantage over outsiders (haters, funds, random people), then what is the point of the community at all?

We’ll listen to everything on the AMA today.
https://t.co/ELl36lEVHF

I believe in Backpack.

[Arseniy Belookiy @ars1k90]

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[Elon Musk @elonmusk]

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[Fan Mazi Tuunde @KingTunde_SZN]

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[MOON LOVER @M1ONLOVER]

Love you

[Elon Musk @elonmusk]

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[Elon Musk @elonmusk]

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[Elon Musk @elonmusk]

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[Timaator @timafey94]

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[The Lockeys - by Unlockd @Unlockd_Finance]

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[Arseniy Belookiy @ars1k90]

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[Seedify @SeedifyFund]

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[Arseniy Belookiy @ars1k90]

#96130
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[Binance Fan Token @BinanceFanToken]

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[Arseniy Belookiy @ars1k90]

@binance #BitcoinButton #Binance

[Arseniy Belookiy @ars1k90]

@binance #BitcoinButton #Binance

[Seedify @SeedifyFund]

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[Arseniy Belookiy @ars1k90]

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