#SIREN的星辰大海

Binance Alpha track has recently seen a surge in popularity, driven by the combination of its positioning as an 'early ecological entry' and innovative mechanisms, creating a multi-resonance of technological narrative, community incentives, and market expectations.

**1. Technological Narrative and Star Project Endorsement**

As the first Layer2 project integrated with the Solana Virtual Machine (SVM), SOON achieves high performance of 30,000 TPS through decoupling the SVM architecture and modular design (compatible with OP Stack and configurable DA layers), reducing Gas costs to 1/10th of Arbitrum, with technical parameters significantly superior to traditional Rollups. Its all-star team (with backgrounds from Aleo and Solana) and advisory resources (such as the co-founder of Solana) further reinforce market confidence.

**2. Community-based Financing and Points Ecosystem**

SOON raised $22 million through tiered NFT sales, with token distribution primarily led by the community (51%), avoiding VC sell pressure, though short-term unlocking risks remain. At the same time, the Binance Alpha points system incentivizes users to participate in early projects through dual dimensions of trading volume and account balance, combined with double points activities and airdrop rewards (such as MERL airdrop consuming points), forming a high-retention user ecosystem.

**3. Market Expectations and Risks Coexisting**

Short-term liquidity premiums drive token price expectations (SOON may reach $0.4-0.5 at launch), but the FDV/TVL ratio is as high as 18.7, far exceeding the industry average, compounded by unlocking sell pressure (which may lead to a 50% increase in circulation after 3 months), revealing signs of valuation bubbles. Additionally, competitors like Eclipse may squeeze the technological first-mover advantage within the SVM ecosystem.

**Outlook**: Binance Alpha has become a core entry point for early Web3 dividends by integrating technological breakthroughs with user incentives, but caution is needed regarding valuation regression after narrative overextension. Investors should pay attention to on-chain data (TVL, developer activity) after the mainnet launch to verify the real value of the ecosystem, avoiding the trap of 'technological involution'.