FACET $FCT Research Report

Conclusion: There are certain points of contention, it is not a new platform, and the chips are concentrated in the hands of retail investors. It is not recommended to heavily invest recently; if you want to take a risk, you can keep a small position (I have already made a slight profit, holding a small position to withdraw).

🌟 Facet official Twitter announced on 8.13 the launch of the L2 native token $FCT (Figure 1), and assigned a new mechanism to this token → All tokens are obtained by burning ETH and exchanging in proportion, with no pre-allocation.

🌟 Some official addresses of the project:

Block Explorer: explorer.facet.org

FCT Whitepaper: docs.facet.org

FCT Mint Status: fct.fyi

FCT Exchange: facetswap.com

🌟 Advantage 1:

The gameplay is fun; on the ETH mainnet, you can send calldata to 0x00000000000000000000000000000000000face7, and you can obtain a certain proportion of the native token $FCT based on the burnt ETH on the Facet L2 chain. Additionally, this exchange ratio will dynamically adjust (Figure 2), creating arbitrage opportunities (arbitrage bots already exist). Generally, wherever there are arbitrage opportunities, there will be trading volume.

🌟 Risk 1:

From the minting status, 33% of the total FCT has already been minted, indicating that this token has been around for a long time. This L2 has also existed for a long time, and the number of unique holders of WFCT is only 268, with significant selling behavior (Figures 3, 4).

🌟 Risk 2:

I tried the swap link supported by the official site; the website is a work in progress… If it started only 2 days ago, the current state seems more like abandonment, haha. The entire L2 seems to be in a near-dead state.

🌟 Contention:

If you buy in, the point of contention is: 1. Expecting the Facet team to develop the ecosystem, $FCT to thrive 2. New investors joining, not just passing the baton.