Low float / low FDV is the right approach for most projects to TGE Allow me to explain bc there’s nuance here that is important Let’s look at Hyperliquid, the most successful new launch of the post-FTX era - they did a low float / low FDV launch Low float in that only 30% are circulating Low FDV is relative, at the $2b launch value (when most could get in), I’d argue that was a low fdv RELATIVE to the true market value Had they launched at $40b FDV (current val), would they still be at $40b today? We’ll never know but I’d say much less likely So for HL, it was game theoretically optimal to launch at a low FDV relative to the market’s perceived value There’s plenty of behavioral finance to support this approach Yet most teams do the opposite, they launch at a high val to appease investors or thinking that will put them into a higher tier shitcoin category And the result? Most are down only like this chart So if you’re looking to TGE, think carefully about your float and val and make sure you set yourself up for at least a chance of doing well The “relative” val will vary widely depending on whether it’s a well-known VC funded project or something new coming out of stealth - adjust the val accordingly but give the market some room to do the price discovery on an upward trajectory This helps build community and helps create better supply control so you’re not fully subject to the whims of farmers and CEX listing extortion supply dumps It’s part art and part science, and why most teams should seek help when designing the tokenomics and doing the TGE And your alternatives - we know the perils of low float / high FDV as we clearly saw last cycle and we know high float / high FDV and low float / low FDV obviously don’t work Not sure why this approach isn’t the standard