I don’t think the takeaway from plasma success is “ICOs are so back”

It’s more

- there’s tons of demand for tether adjacent products as we’ve never been able to buy into them and circle is trading at over $20b cap

- its hard to find good stable yields on size that last more than a few weeks. Assuming 2bn deposits and 2bn fdv on plasma this works out to 30% apr!

- exploit risk is extremely low as the deposits go into a veda vault which goes into aave (i think). Other options this safe pay like 6-10% apr.

- The people want to buy good projects at good valuations. Plasma is rightfully hyped and has the space excited. They could’ve raised a vc round at 1b+ but instead went with an open and fair model at cheaper. ICO mania was because they could sell tokens to the public for higher caps than the vcs.

Note: dcf cap seeded plasma and veda