#加密货币代币发行与分配# Looking back at the token issuance projects I participated in during the early years, I can't help but feel emotional seeing the booming scene of Falcon Finance's public sale this time. Back then, we were thrilled about financing amounts of a few million dollars, but now it's common to see over-subscriptions reaching hundreds of millions of dollars. This not only reflects the market's enthusiasm for quality projects but also mirrors the current abundance of funds in the industry.

However, a high multiple of fundraising does not mean that the project will definitely succeed. There are many historical cases where fundraising was hot but subsequent development was weak. The key is still to see how the team uses this funding and whether they can turn their grand vision into reality. The token economic model of Falcon Finance looks relatively reasonable, but the allocation of 35% to the ecosystem seems a bit conservative. I hope they can properly balance short-term incentives with long-term development.

The 25-fold oversubscription undoubtedly puts enormous pressure on the project and raises investors' expectations. The real test lies in the subsequent product implementation and ecosystem construction. As a veteran in the industry, I advise the project team to focus and work diligently, avoiding the temptation to be blinded by the current hype. After all, in this rapidly changing market, today's myths can easily become tomorrow's lessons. Let us wait and see if Falcon Finance can withstand the market's scrutiny and become another milestone success story.