2025-12-05 12:22:29

The second phase of a certain new token launch platform opened for subscription at 9 PM last night, and the application amount quickly surged to 650,000 USDT, showing quite a lot of interest.

This cross-chain yield aggregation protocol previously raised funds in two rounds, totaling $10.4 million—$6.5 million in the first round led by a well-known crypto fund, and $3 million in the second round from a traditional asset management giant. According to DefiLlama data, its current TVL is around $98 million, ranking 190th in the entire DeFi sector.

The investor background is quite strong, but the TVL ranking is average. If you want to participate, you still need to assess the risk-reward ratio yourself.

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ContractCollector

· 15m ago

650,000 USDT didn't get this much hype in seconds. We'll have to see if it can hold up in the long run.

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MemeKingNFT

· 12-05 12:53

650,000 USDT gone in seconds, this hype... is it real, or is it just another rug pull? The funding background is solid, but the TVL is ranked 190... It's like the old saying, "a tiger's head but a snake's tail"—rising and falling in an instant. I especially like seeing projects with an impressive list of investors, but the actual on-chain data is mediocre. I've seen this trick many times.

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GweiWatcher

· 12-05 12:47

650,000 USDT sold out in seconds? With this level of hype, we really need to watch out for potential rug pulls. The project team seems strong, but I'm worried it might just be another pump-and-dump scheme. With a TVL of only 98 million, ranking 190th, to be honest, those numbers are pretty mediocre. It reeks a bit of a Ponzi scheme. Better to wait and see the on-chain data before making a move. Impressive fundraising is one thing, but the key is still the token price trend and real liquidity. Don’t rush in—observe a bit more before getting involved. There are too many pitfalls with these kinds of projects.

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HypotheticalLiquidator

· 12-05 12:38

Huh, $10.4 million in funding only brought in $98 million TVL? That health factor must be pretty weak. --- $650,000 USDT application cap filled overnight, shows the market sentiment is still there, but looking at a rank of 190... how is the risk threshold set? --- Does a traditional asset management giant entering mean stability? The more I look at it, the more it feels like the first domino. --- How is the capital side "hardcore" with only $98 million TVL and daring to raise this much? Who knows how high the borrowing rate will spike. --- Filling the cap so quickly is a bit of a dangerous signal, liquidation prices are right there. --- $10.4 million in funding versus $98 million TVL—if there’s a wave of deleveraging, can the market sentiment hold up? I have my doubts. --- When this kind of project triggers a liquidation cascade, it always happens all at once—no one can get out in time.

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BlockBargainHunter

· 12-05 12:36

The investors are indeed strong, but the TVL ranking is really mediocre—what does being ranked 190 even mean? It might be better to wait and see how it performs before getting on board.

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