KOL round in this cycle is one of the best opportunities to lose money.

- Invest at peak hype

- There are projects holding money after 1 year without TGE

- Raise KOL round then go to Binance alpha at 3x cheaper price

- Split in half or more right after TGE

- No refund mechanism

- Updates become less and less over time

KOL round isn't early access.

It's early liquidation.