A couple of days ago, I mentioned that @AtlantisOnSonic incorporates a "mining" mechanism on top of the "new token issuance" model, using a method of pricing and releasing tokens simultaneously. At this stage, it indeed appears to be a design better suited for accommodating liquidity. At that time, the data showed 2.59 million $S, but now it has been updated to 3.18 million $S, with the number of participants exceeding 900, showing significant growth.
I also mentioned that Atlantis had risen to the 25th position on @KaitoAI's Pre-TGE leaderboard. Today, it has climbed to the 20th position. Although the leaderboard itself does not represent absolute value, the ability to continuously move up in a short period indicates that it is indeed generating a certain level of viral effect and user expectations.
Regarding the token mechanism, I revisited the details. $AQUA is the main token, which can be staked to earn basic returns. The locked $xAQUA represents a more long-term binding token form, not only benefiting from platform protocol dividends but also continuously receiving token allocations from collaborative projects. Recently, several projects have started connecting with them, suggesting the initial construction of a flywheel structure.
Currently, the circulating market cap of $AQUA is around $1.6 million, and its FDV is still significantly lower compared to @ShadowOnSonic, a project with similar positioning on the same chain. This valuation gap is worth noting. Additionally, the launch price on TGE day is expected to be 15% higher than the current price, which is a variable to consider if you are looking at it from a short-term participation perspective.
Overall, my judgment on this project hasn't changed much: its mechanism design is innovative, and its capital efficiency is relatively reasonable. Whether it can go far ultimately depends on the quality of the projects it introduces later. However, in the current market rhythm, having an opportunity to participate and produce simultaneously is at least worth paying attention to.
The official event will end tonight, so there isn't much time left. If you're interested, you can check out their website and documentation. Don't rush to conclusions; first, understand the mechanism clearly.
$AQUA Farming Fair Launch FINAL countdown. 🚨
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