i've seen a million rugs in crypto so i know one when i see one lets take a second to consider @ventuals proposed model the ask- crowdfunding 500,000 $hype to launch an hip-3 dex for 'pre-ipo companies' here are the issues i see > private company valuations are only struck maybe once a year on new funding rounds so they want to launch perps, on assets that only go up and are only revalued once per year???? won't people only go long??? won't they get destroyed by funding???? > no reliable price data or oracle where does the oracle data come from??? news releases on funding rounds??? ummm ok > synthetic only, backed by nothing if they are crowd funding 500,000 hype they clearly have no plan, you are long or short a synthetic they created and have ownership over 'nothing' > no ability for users to redeem 'vhype' for the hype they deposited unless the vhype vault has hype in excess of 500,000 hype basically they are relying on deposits to keep their hip-3 market running so when, if ever, will a user be able to withdraw their hype > physically backed pre-ipo tokens are available elsewhere why is this a synthetic only model when it doesn't need to be???? > pressure tactics 'unstake your hype now, it will take 7 days and you will want to be ready to deposit in our vault on day 1!!!' pressure tactics in a degen environment are a classic rug signal they are creating a sense of urgency while asking you to fund 100% of their project (rug) > skin in the game if they are relying on the hyperliquid community to provide the 500,000 hype, what are they providing??? they have no skin in the game ultimately this seems like a clever rug with a flashy concept that will excite people 'pre ipo' 'spacex' 'kraken' etc people want to own these names people want to speculate on these names but is ventuals really providing you those opportunities?????? im calling it now, this is a rug surely the founders and team can address my concerns if it's not but i will say, my rug-radar is finely tuned do not deposit your precious hype in the ventuals vault you will never see it again and you will never own the names they are presenting definite rug stay away from ventuals