One thing i've been wondering: how the fk does pre-market perps determine the 'current' price if there's no oracle to peg it to anything? Like, how is monjeet $0.045? Who's anchoring it? If i have to take a wild guess, it could be their MMs having to fulfill their contract obligations to keep the price within a certain band. Surely it can't be free market alone. If my guess is valid, then it makes any project with 'further fund raising' with existing premarket perps dubious af. megaJEET was oversubscribed by 25x because they were raising at $1b fdv, while premarket was valuing at $5b. So it gave people the impression that 'omg if i can get in, it's a free 5x'. But what actually determined the premarket's value of $5b fdv?? Nobody knows haha! Seems like it's the same thing we are seeing with the upcoming monjeet sale valued at $2.5b fdv. "hey its a free 2x if we get in!" idk man, it feels like VCs/MMs are making use of these dubious pre-market valuation to bait retails into buying overvalued ico bags. Thank god for polymarket to give us the ability to bet NO on these overinflated valuations without getting a liquidation email from a random 5x short squeeze. Max you can lose is what you bet with, instead of your entire margin lmao