Who has experienced a small fund failing during an IPO? Honestly, the most heartbreaking part isn't losing the principal directly, but trying to scrape together money and ending up with a "capital chain collapse."

That was exactly me yesterday. To gather the 1500U needed to participate in an IPO opportunity, I impulsively decided to transfer money from my wealth management account. I thought about first withdrawing stablecoins, using part of it as principal, and the rest as collateral to borrow platform tokens—sounds like a perfect plan, right? But the first step was a disaster—trying to withdraw funds from the wealth management account got stuck at face verification, and the money was frozen immediately. After an hour of messing around, not only did I fail to get into the IPO, but I also lost 30U in interest and fees.

Here's a harsh lesson: the first rule of small fund IPOs is to only use idle money. Never touch wealth management or borrowed funds. Many people think "just gather a bit more money to earn more," but they don't realize that wealth management withdrawals are limited, and borrowing involves interest payments. If the operation gets stuck, failing to IPO ends up costing more. I learned this the hard way—losing a day's worth of wealth management gains, plus fees, evaporating over 10 bucks out of nowhere.

Later, I considered other methods, like collateralizing assets to borrow stablecoins. After finally transferring to the trading wallet, I found that the imported wallet couldn't directly participate in the IPO, so I had to transfer again. After all this fuss, I realized: small fund IPOs seem to have many opportunities, but in reality, every step is a trap. Instead of risking a capital chain collapse to scrape together funds, it's better to wait until you truly have idle money before acting.