This is a brand-new RWA track, opening up global on-chain IP0 opportunities.

The traditional Per-IP0 model has an extremely high threshold—at least 1 million to start. So even if ordinary retail investors strongly believe in a high-quality company about to list, they cannot participate due to insufficient capital.

b An’s model essentially fractionalizes and tokenizes participation (“shares are tokenized”), lowering the entry barrier and enabling ordinary retail investors to take part in the opportunity to invest in pre-listing (unlisted) companies on the platform. In essence, it is the tokenization (fractionalization) of assets in the primary market.

With the development of global technology, more and more high-quality companies around the world are preparing to go public. The model that b An launched solves the issues of entry barriers and geographic limitations—anyone around the world can participate.

What risks are there?

1. An IPO may not happen. Maybe BNB goes live, but the actual project still hasn’t listed for a long time—confidence will be affected, and on-chain liquidity will be affected too.

2. In the short term, it’s extremely speculative. For hot events like this, short-term volatility is huge—there’s a FOMO effect. Once the hype starts, all kinds of IPO projects will appear, and many of them will be short-lived.

Where is the opportunity?

I believe opportunities lie on the underlying fundamentals, not on-chain IPO hype. First ask yourself: do you really understand this IPO project? Does its value match the fundraising price? Will it truly be listed in the future?

Level-one token Z risk is far greater than level two, because it hasn’t been tested by the market. Whether it will go public in the future is still unknown—let alone whether the alignment between value and price is even known.

But for milestone events like this, they are definitely closely related to us. Like Robinhood: even though there are risks on-chain, once the Robinhood app grows, the ones who benefit are the underlying “ARB, UNI.” This is something you can make clear through research into fundamentals and tracking the order book.

In crypto, there are new things every day. Once you know what’s trending, you need to look at the underlying logic and how to filter opportunities within that direction. Don’t expect to catch every hot trend.#比特币突破8.5万美元 #Uniswap’s #ArbitrumBOLD