Just guessing the financial bureau, in the end, it can easily turn into a break-even bureau.

Looking back now, the issue may not lie with the project itself, but with the time dimension being severely underestimated.

When participating in new offerings, everyone focuses on the narrative, FDV, and unlocking ratio, but the real question that often determines profit and loss is:

At the moment TGE arrives, is the bull market/FOMO still there?

Once the cycle is extended, it means that the logic established at the beginning may no longer have anyone willing to take it on.

Summary:

For projects where TGE is too far from the new offering cycle, even if the narrative is good, caution is advised.