I think MegaETH *might not be a Ponzi scheme*, mainly because of its staking mechanism. Here’s my personal strategy for MegaETH: I waited until the last few hours and invested about 9 wU, which is exactly half of its cap, and I didn’t choose to lock my tokens. On one hand, I believe that at some point in the next year, there’s a high probability that Mega’s FDV will drop below $1 billion. It’s not that I’m bearish on it, but this is just the objective reality of crypto—Solana went from a peak of $260 to as low as $10 during the last cycle. Any project, whether good or bad, top-tier or average, has seen a 90% drop at some point. Since I predict there’s a high chance that within the next year, there will be non-locked tokens available at an FDV below $1 billion, even if you’re bullish on Mega, it’s not wise to lock your tokens now. Better to miss out than regret later. On the other hand, considering the token structure, I can’t hedge properly, which makes it a true *Ponzi scheme*. The token structure is entirely based on locked allocations, with early investors being bought out and a terrifying $50M raised. I’m particularly worried that it might pump right after launch. If you invest $180K, and the secondary market value hits $1M based on 1x leverage hedging, you’ll end up tying up too much capital for hedging, leading to poor capital efficiency. Lastly, why didn’t I max out my investment? For someone like me who doesn’t lock tokens, I’m definitely not favored by the project. If I maxed out, they probably wouldn’t allocate anything to me. Generally speaking, big investors get half, while retail investors get full allocations. I hope MegaETH sees that I’m not greedy and only want a five-figure allocation, and gives me a little more