Binance announced three Alpha projects, this is the third one analyzed today

$RDAC (non-general)

@redactedcoin @binancezh @heyibinance

Keywords: (too long, don't read the summary version)

1. There are contradictions, institutional investors admit losses, and the valuation may be different from the actual valuation

2. The project introduction is too ordinary, without any advantages, and does not constitute an opportunity for spot listing on binance

3. The team's marketing department is not professional and has a low voice. It needs to pay long-term attention to whether there are improvements and new progress in this area, and it even looks amateurish

4. After the current listing, the transaction volume is ordinary and relatively mediocre

5. It is suitable for brushing scores around 0.045-0.05

6. Investor relations may be poorly maintained

7. Pay attention to the trading opportunities after listing Binance Future (contract)

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I am still very confused when looking at this project. The Abstract is actually very general. In theory, all projects can be written like this.

From the public data, the public offering round raised 3 million US dollars with 70 million US dollars. My question here is that the actual delivery here should be 60 million US dollars, not 70 million US dollars.

According to the official website, a total of 10 million US dollars were raised, and the other 7 million US dollars were paid by institutions.

The current FDV is 50 million US dollars, which is equivalent to the public offering round. All institutions admit losses.

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There is actually a contradiction here. A low opening (even lower than the public offering round) means institutional losses. The founder of this project is a member of Animoca's Marketing & Incubation

@Kemuri_eth

From the perspective of Marketing, the current tweet reviews of this project are very low, even lower than my analysis post. This, to some extent, shows the amateurism and unprofessionalism of the current Marketing team. This needs to be supplemented, otherwise it will constitute the core problem of Binance Spot in the later stage. For details, see the official Twitter account of the project @redactedcoin

KOLs don't seem to have found them well, but just dredged up some Web3 relationship links. In my opinion, this is not so professional, after all, your investors have so many as shown in Figure 2.

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Because I have doubts about the valuation above, I think the actual delivery valuation of this project will not be higher than 45 million US dollars, so the actual calculation is based on this valuation,

The current valuation is around 51 million US dollars, which is equal to the valuation. For example, alpha score-brushing users can trade and brush scores between 45 million US dollars and 60 million US dollars, and the potential loss should be less.

Judging from the currently disclosed data and some social media observations, the professionalism of this project is average, and extra caution is needed to be taken in the time loss of long-term investment.