On April 29, the bandwidth aggregator and decentralized acceleration network Meson Network (MSN) was launched for trading on OKX, but it failed miserably in the community.
MSN's opening price today has reached a high of $10 and a low of $1.75, and is currently around $5. The total amount of MSN is 100 million, which means that the FDV of MSN tokens has reached $500 million.
However, this number is far different from what many KOLs predicted before the opening. Many KOLs predicted that MSN’s opening would stabilize at 15-20 U, or even 30 U.
On January 15 this year, Meson announced that it had completed a new round of financing led by Presto Labs with a valuation of US$1 billion.
On February 8, Meson conducted a token sale on Coinlist, selling 2.5 million MSN tokens (2.5% of the total) at $1.75 per token.
On April 26, Meson was listed on OKX Jumpstart Mining again, distributing 800,000 MSNs (accounting for 0.8% of the total).
According to the token distribution ratio announced by OKX at that time, it is as follows:
- OKX Jumpstart: 0.8%
- Airdrop: 2.2%
- Public offering: 5%
- Partners: 6%
- Technical team: 15%
- Foundation Reserve: 20%
- Ecosystem: 25%
- Investors: 26%
The official token distribution ratio is:
- Private placement: 26%
- Public offering: 5%
- Ecosystem: 27%
- Foundation reserves: 20%
- Technical team: 15%
- Partners: 6%
- Testnet mapping: 1%
From the above, we can see that most of MSN’s chips are in the hands of the project owners and investors, while users who previously participated in the test network only received a pitiful 1%.
The low opening price of MSN also caused many community users to start complaining, and the black material of the project team was gradually dug out. The most interesting thing is that those KOLs who were still "overestimating" the price of MSN before the opening are all overturned.
Hebi: Forecast opening price 20-30U
Yuyue: I won’t sell it at this price
Wesley: Stupid Project
Arya: The first level isn’t profitable, and you want to cut the second level?
Fiona: Market sentiment has reached a freezing point, and no one is willing to take over.
Rocky: I hope to stay in the 15-20U range
Even users who previously participated in the testnet began to expose negative information:
In short, MSN’s opening this time can be said to be a big failure. Some netizens have begun to lament that it is becoming increasingly difficult to make money in the crypto.
