Soon really came this time @ soon_svm SOON Too long to read: 1. Valuation of approximately $300 million (Series A) is not considered very expensive 2. Strong Web3 resources (reaching core circles in North America such as Sol modular Coinbase) Currently, it appears that there is a high possibility of occupying the key ecological niche of SVM From the perspective of actual implementation, it remains to be verified that this track is still a Layer 2 5. The resources are really good, I can't think of a reason why Binance card Soon is on the main site. 6. The bottom of the suction chip is around 0.3 dollars (A-round cost), and the top is distributed around 0.9 dollars (three times the expected) —————————————————————— Soon is really coming this time, I will conduct research from several aspects 1. Strong financing background Hack VC, Solana Core, Celestia Modular Core, etc It is almost the top-level background for Chinese projects to be able to raise funds, which also means that the resource channels of the project are relatively smooth. To achieve this, there are three specific points that the project needs to achieve 1. Revenue 2. Massive adoption 3. The irreplaceable position of a certain sector.（ Irreplaceable position in a certain track) This will determine the institution's "rating" level for the project, and currently, only 3 have a chance From the Boesin contract audit, it can be seen that the project has relatively strong development capabilities and high code completion. However, at the same time, the contract audit time is relatively short, only 1.8-1.13 completed the audit. This means that the technical development difficulty has not formed a significant barrier, and the core of the project is not technology. Marketing and product experience after listing may be the directions that the project needs to be rolled out a. Token Account Verification is Missing b. Transfer of Admin Permissions Lacks Checks Both vulnerabilities belong to the info prompt, which is a very minor vulnerability 3. As mentioned in the second point, the project is currently undergoing extensive marketing efforts, but it seems that there has not been sufficient exploration of the SVM that Soon is working on. Essentially, this is still a Layer2 that connects ETH BSC and Solana. As of now, the track has not been specifically validated, and we can expect Soon's landing performance —————————————————————— The previous content was all praising, but there is actually a relatively large contradiction here 1. In terms of Alpha, the valuation level is too high. A FDV of 200-300 million US dollars means at least 20-30 million US dollars in circulating market value, which means that the project party has a high cost in Alpha and also requires good cooperation from market makers, relying heavily on "expectation management" 2. The project has a listing round on January 22nd, which is the Hack VC round. Listing on Alpha may result in a change of investor SAFT. Unlocking the investor's quota before listing on Spot may be a relatively critical matter, and the unlocking event is almost impossible to predict. If you are optimistic about SOON, you can also assume that the institution is optimistic. Here, SOON needs to do a good job in marketing and all potential risk management, and there should be no security issues 3. Spot trading is SOON's major goal, and currently Binance has only disclosed Alpha. If the spot trading is not completed in the next few days, it also means Binance's main station's attitude towards the SVM track. But at the same time, Alpha is also a more challenging opportunity, requiring the project team to prove themselves in the market and public opinion with real skills, and grow together with the community. 4. If the listing of spot currency requires scheduling, the performance of the project on Futures (contracts) may become the focus of profitability. Therefore, listing on Binance contracts is the most important time point, which is the focus of Marketing and extremely tests expected management —————————————————————— Do retail investors want to participate in Soon and how do they participate? I think it is necessary. This type of background is rare in recent Binance Alpha, which means it is very smooth for listing on exchanges and other platforms. This is the core competitiveness that sets it apart from other small projects At present, the pre-market price is about 0.5 dollars. Everyone needs to pay attention to the timing of the contract. I believe that if the opening is high, then more than three times the profit needs to be locked in (A-round effect) That is, above 0.9 knives, while the bottom of the suction chip is around 0.3 knives Assuming the poor outcome is the inability to quickly list coins, achieving lower FDV and lower costs for distribution and fundraising is more important for the project team. The resources are really good, unless it's some special emergencies, I can't think of a reason for Binance Card Soon to be on the main site.