2026-01-09 17:23:43

Recently, interesting phenomena have emerged in the exchange's IPO market. Projects like Bitway, Collect, ZenChain, along with the upcoming Unitas, all have valuations stuck at around 5 million USD. It sounds neat, but everyone who has participated knows — each time, oversubscription is off the charts, and the amount each individual account can receive is painfully small. ZenChain was even more outrageous, oversubscribed by over 2,500 times, basically just a game of luck.

Speaking of which, recent employment data in the US has also been somewhat disappointing. In December, non-farm employment increased by only 50,000 jobs, well below the expected 60,000. This sends a signal to the central bank — if non-farm data continues to weaken, it indicates economic growth may be slowing down, and the job market is under pressure. In that case, the Federal Reserve might consider cutting interest rates to stimulate the economy. Finding a balance between employment and inflation is indeed a tough challenge.

On the exchange side, there are new developments. A leading exchange just launched ZAMA pre-market contracts. As of the time of writing, the price is around $0.1355, with a corresponding FDV close to $1.5 billion. Some say, regardless of whether you have special qualifications, you can try your luck with such projects. But there’s a catch — everyone can’t see others’ bids, so you don’t know what the right bid is. Bidding too low might mean you don’t get filled, while bidding too high isn’t cost-effective.

The largest financing project, Infinex IPO, is currently at 65% progress, with about 17 hours remaining before it closes. Industry insiders estimate that if the project team doesn’t step up, it might not be fully subscribed in the end.

Additionally, the rules for a leading exchange’s Booster event have changed. Previously, you could participate once you met a certain score; now, you also need to deduct the corresponding Alpha points along with meeting the score threshold. Users participating from January 12th onward will need to adapt to this new rule.

ZTC-3,65%

ZAMA-2,73%

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Token_Sherpa

· 01-12 16:16

yo, the 5M valuation wall is giving artificial scarcity energy... and we all know how that ends. 2500x oversubscription on zenchain? that's not launchpad mechanics, that's just lottery cosplay tbh

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just_another_wallet

· 01-11 23:35

Five million USD is a very tight number, feels a bit interesting, is there some insider information? ZenChain's oversubscription of 2500 times is outrageous, what's the difference from buying a lottery ticket... The Federal Reserve probably needs to cut interest rates, non-farm payroll data is so weak. The pre-market bid setting for ZAMA contracts is truly torturous. Infinex has only reached 65%, with 17 hours left, feels a bit fierce. Booster changing rules will deduct Alpha points again, the space for arbitrage is getting smaller and smaller. The IPO market is becoming more competitive, I really don't know if there's still a chance.

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Anon4461

· 01-10 12:42

A $5 million valuation is really hitting a dead end; is this a word game or is there really some trick involved? ZenChain 2500x oversubscribed, I just laughed—this is purely luck. If the Federal Reserve really cuts interest rates, is it still not too late to enter now? I'm skeptical about the pre-market contract for ZAMA; the information gap is too big. Infinex only has 17 hours left? I bet five bucks it still won't fill up by then. The new Booster rules are really harsh—deducting points and setting score thresholds, user experience is dropping sharply. It's obvious this wave of IPOs is a trap; are they just happily harvesting the chives?

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LiquiditySurfer

· 01-09 17:53

A $5 million figure is a bit too neat... Exchanges are probably playing psychological games. Anyway, oversubscription multiples have become old news. Infinex's 17-hour sprint feels like it might fall short again, and we'll have to see who comes to the rescue... Unlicensed finance is like this; someone always needs to maintain liquidity depth. Booster changing the rules is really clever—deducting points and requiring a target. This operation is more torturous than market fluctuations. With non-farm payroll data so weak, the rate cut expectations are heating up... The crypto circle might just be waiting for this signal to execute the most optimized strategy. ZenChain oversubscribed by 2500 times... This is purely a casino mentality, not investment.

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HashBrownies

· 01-09 17:53

$5 million gets stuck so badly, who would believe it's not someone manipulating behind the scenes? --- Only 50,000 jobs in non-farm? The Federal Reserve should be worried, rate cuts are coming --- Infinex is at 65% and still not fully filled? This financing is a bit suspicious --- ZAMA's blind box-style pricing is really outrageous, who can accurately guess the asking price? --- Once the new Booster rules are out, old users have to relearn the rules --- ZenChain's oversubscription of 2500 times is truly incredible, is this still an IPO? It's basically gambling --- The poor US employment data isn't really a bad thing for the crypto world --- This wave of exchange rule changes is deeply strategic; retail investors are always the ones getting exploited --- It seems recent IPOs have made money and people are quitting, while those losing money are still holding on --- With an FDV of $1.5 billion, ZAMA's pre-market contracts went up like this—aren't they afraid of a dump?

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MultiSigFailMaster

· 01-09 17:45

A $5 million valuation is so neatly arranged, it feels a bit deliberate... ZenChain's 2500x oversubscription is really outrageous. Only 50,000 non-farm payrolls, the Federal Reserve must be getting really anxious; rate cuts are definitely unavoidable. The pre-market contract for ZAMA, not seeing each other's prices, is just ridiculous, it feels like pure luck. Infinex still has 17 hours left, and with 65% progress, honestly, it's a bit uncertain. Booster changing rules again? Alright, guess we have to adapt once more. This round of IPOs is really getting more competitive... By the way, weak non-farm payroll data might actually be good for the crypto market? Expectations of rate cuts could explode immediately. Wait, ZAMA's FDV is almost 1.5 billion, and projects with such valuations are still doing IPOs, the risk must be huge. The largest financings might not even fill up, indicating that market enthusiasm is truly declining. If the rules change, so be it; everyone has to adapt anyway, for fairness.

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ChainWanderingPoet

· 01-09 17:38

Is $5 million so neatly allocated? It feels like it's intentional, the gameplay is becoming more and more of a black box. ZenChain 2500x oversubscription, is this still considered an IPO? It’s basically gambling. Only $50,000 for the Non-Farm Payrolls? The Federal Reserve must be panicking now, is a rate cut certain? Who the heck can guess the price of this ZAMA pre-market contract... it all depends on luck. Infinex is still 35% short; can it reach full within 17 hours? I bet the project team is giving up. Changed the Booster rules again? I'm speechless, are they trying to clear the market? But on the other hand, employment data is really dragging down the economy. IPO investing is increasingly like cutting leeks; are you still participating? Why does it feel like exchanges have been coming up with all sorts of tricks lately, just to prevent ordinary people from making money? That ZenChain incident was truly outrageous, the odds of winning weren’t even higher than a lottery.

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mev_me_maybe

· 01-09 17:37

A valuation of 5 million with such precision, how much tacit understanding is there, hilarious Oversubscribed by 2500 times? Might as well just run a lottery Non-farm payrolls only 50,000, the Federal Reserve must be losing sleep ZAMA's blind box-style pricing, truly torturous Infinex still has 17 hours left, feels like I need to throw money in to hold the line Booster changing rules? Going to be exploited again for some extra gains This wave of IPOs really has no winning chance, just playing with heartbeats Everyone's betting on rate cuts, just waiting for the Federal Reserve to make a statement Pre-market contracts valued at 1.5 billion, a bit outrageous, right? Alpha scores, this thing, exchanges are getting better at "creative financing"

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FlashLoanKing

· 01-09 17:25

$5 million USD is so neatly arranged, feels like there’s something going on --- ZenChain oversubscribed by 2500 times? That’s pure gambling, don’t fool yourself into thinking it’s an investment --- Infinex is only 65%, why still need to do a new issuance? It’s just covering for the project team --- Pre-market contracts don’t show others’ prices, who knows if you’re the bag holder... --- Can the Fed cut interest rates to save the market? That would just be another show, right? --- Booster’s new rules keep changing, it’s really a different trick every day. I’m having a hard time keeping up with my IQ --- Relying on luck for each new issuance, isn’t this just another way for exchanges to collect fees? --- Why is ZAMA with a $1.5 billion FDV worth this price? Honestly, I can’t quite see through it

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