#晒出你的交易

Space and Time (SXT) is the 48th project of Binance Launchpool, focusing on Web3 data layer technology based on zero-knowledge proofs (ZKP). It verifies the authenticity of off-chain data through the Proof of SQL protocol, aiming to solve the inefficiency and trust issues of blockchain data, while adopting an HTAP architecture to meet the needs of high-frequency trading and data analysis. However, its token economic model has significant risks: a total supply of 5 billion tokens, with an initial circulation of 28% (1.4 billion tokens), but there is substantial unlocking pressure in the first year, with an expected circulation increase to 2 billion tokens, requiring the market to digest over 40% of the incremental supply; early institutional holding costs are extremely low (seed round at $0.01, Series A at $0.12), posing a risk of sell-off.

In the short term, the OTC price of SXT has already plummeted 70% from its peak (from $0.56 to $0.17) before launch, with market sentiment affected by high inflation, delays in commercializing technology, and competition pressure (such as The Graph), leading to strong short-selling expectations, with a target price looking down to $0.10. Long-term value depends on the ecological landing of Proof of SQL (such as in DeFi and AI scenarios) and the progress of integrating top capital resources like Microsoft and Chainlink, but one must be wary of questions surrounding 'pseudo-decentralization'.

In summary, while the technological vision of SXT is disruptive, it faces capital games and high volatility risks in the short term, and investors need to weigh the bubble against the potential.