Shuidi Capital's Dashan said on Space: Recently, we have had four projects listed on Binance, but in reality, not a single project has distributed tokens to investors as promised. It is clearly stated in the investment agreements that tokens should be distributed; however, after going live, project parties can arbitrarily modify the terms, leaving investors with no means of counteraction. Because in the current environment, whether or not you can get listed on major exchanges makes a significant difference.
The key is that in the current market, even being listed on Binance only achieves a $100-200 million FDV, and it could potentially be delisted in the future before unlocking.
Everyone thought VCs were the strong party, but they didn't expect that VCs would fall to such a state.
Moreover, when VCs advocate for rights, retail investors do not sympathize at all, and there are no KOLs coming out to support them.
In contrast, if a project party unilaterally changes the token distribution conditions for retail investors, it is met with fierce criticism, and people wish they could immediately report the project party to the authorities!
There are even dedicated rights protection KOLs who can assist the community in protecting their rights~
The crypto industry really changes quickly. Five years ago, some leading VCs were still at the top of the crypto industry food chain. a16z and Paradigm were calling the shots from their pyramid, while Multicoin Capital rose to fame with Solana.
Now, VCs are no longer favored by retail investors. Even the top VCs have fallen to the level of being mere 'younger brothers' to exchanges, and they still need to queue up to get listed on major exchanges.
Even the status of some leading KOLs is higher than that of VCs. Meme coins endorsed by well-known KOLs can easily reach a market cap of over a hundred million, and this is based on fully circulating market cap~
The only thing that can balance exchanges is the liquidity of leading public chains (specifically Solana), so Binance is vigorously supporting Alpha and BNB chains to capture that liquidity.
Currently, a three-way balance of power has formed at the top of the food chain among exchanges, public chains, and market makers, leaving various project parties/VCs/KOLs with no choice but to align with the leading forces.
It is suggested that in the future, when VCs make investments, they could bring along some KOLs and community retail investors under the same conditions, so that there are people to help advocate for rights when needed, which would be better for everyone~
