Real data for 10 projects: Binance Wallet IDO Project Survival Report

As Web3 enters a new round of adjustment, initial coin offerings (TGE) are no longer just a simple means of financing, but have become a place for projects to play games with the market. Especially in the current environment of shrinking liquidity and low investor confidence, how to start and how to start has become a topic that project parties must carefully consider.

IDO is a common way of TGE. From the early days of platforms such as Coinlist, many king-level projects have also been born through IDOs. It's just that as the number of projects increases, the wealth effect of IDO decreases. And Binance's every move also stirs the nerves of the market at all times. Since 2025, Binance Wallet IDO has become the choice for quite a few project launches. Its characteristics of "light threshold, high popularity, and strong traffic" quickly became the focus of the market, attracting the attention of a large number of start-up projects and communities, but it also exposed a series of fundamental changes in the structure of the new currency market, the valuation system and the logic of the project.

However, is this model really suitable for every project? Which projects can quickly amplify the narrative and complete the cold start through it, and which projects may encounter the dilemma of "opening high and going low" after the market hustle and bustle? The Klein Labs Research team conducted systematic data research and structured dismantling of the 10 Binance Wallet IDO projects that have been launched, in an attempt to help project parties make smarter judgments from a strategic perspective.

1. Background: What kind of market cycle are we in?

The evolution of the market's investment preferences has been evident over the past few months:

1. Early Preferences: High Valuations + Low Liquidity Models (VC-Led, Short-Term Speculation)
2. Medium-Term Fever: Full Circulation Meme Coin Models (Zero Threshold Hype)
3. Current Turn: The market is returning to a focus on fundamentals and projects with strong sustainability

The structure of the TGE model is also undergoing three evolutions:

• Early model: low valuation issuance + market value discovery mechanism (narrative-driven)
• Medium model: high valuation issuance + insider arbitrage (via OTC or sell after release)
• Current state: Return to low valuation opening (lack of buying, no one is willing to "take over").

The most intuitive manifestation of this market state is that we have seen the Binance Wallet IDO project go live at a low valuation. The project party must exchange a very low valuation and release ratio for a trace of market attention. Behind this, there is an important logic:

TGE's valuation is not a reflection of the "future value of the project", but a comprehensive mapping of market liquidity, expectations, narrative strength and the current market-making system.

2. The traffic effect of Binance Wallet IDO is still strong, but rhythm control is the key

From the data point of view, Binance Wallet IDO has brought obvious market attention and brand exposure to the project:

• The average number of participants was 80,965;
• 60,000 – 443,000 BNB in a single transaction;
The
• oversubscription rate ranges from 6,900% – 36,500%.

Among them, KiloEx has reached an oversubscription rate of 36,492%.

Binance Wallet IDO can easily leverage the attention of 100,000 users, and even when the market is cold as a whole, it can still attract tens of millions of dollars in equivalent asset inflows.

Although with the optimization of the mechanism, the threshold for user participation has been raised, it can effectively screen out high-quality users with more long-term value and stickiness, bring a healthier user structure and community foundation to the project team, and contribute to subsequent community operation and user conversion.

With the support of Binance Wallet's light-touch mechanism, the project team can still obtain strong cold start momentum, greatly reducing the user acquisition path and cold start cost.

3. The TGE model is being deleveraged, and the Wallet IDO project is generally undervalued through

the analysis of the data, we find that the commonality of the Binance Wallet IDO project in the token economy is very obvious:

• IDO The proportion of token releases in the stage is generally low, ranging from 2% to 5% of the total supply, with an average of 4.44%;
The
• initial offering (TGE) phase is typically between 20% and 30% liquidity, ensuring that initial market liquidity is not excessively diluted;
The
• total dilution (FDV) corresponding to the IDO phase ranges from $10 million to $30 million. On the whole, it is a relatively reasonable or even slightly low valuation range.

At this stage, the project team is still willing to conduct TGE through Binance Wallet IDO, and there are some considerations as follows:

• product has been formed, and it needs to issue tokens to access the use case/incentive system/settlement system;
• It is necessary to obtain community attention and trading support in a low-cost way, which is equivalent to a large-scale market launch and forming a liquidity starting point;
• Adhere to the concept of long-termism, accept low valuation, low release, and slow-paced growth.

At this stage, the Binance Wallet IDO project has to accept the low valuation pressure caused by the decline in market confidence. But at the same time, it can reserve more room for market value growth for excellent project parties.

4. Exchange performance: Binance Wallet IDO is the ticket to Binance, not the terminal

the imagination of many teams, Wallet IDO means "landing on Binance". However, the reality is far from the same: