After the success of the new mechanism Bonding Curve TGE on July 16, Binance has returned to the previous pre-TGE format, with participation time from 4:00 PM to 6:00 PM (UTC+8) on July 17. The project $BAS uses the pre-TGE mechanism and is the second project under this mechanism. The first phase was Codatta ($XNY), which is still locked. This article will summarize and compare these TGE mechanisms and analyze whether it is worth participating in the $BAS project.

Below we will specifically analyze the second project under the pre-TGE mechanism, BAS:

One, Article Conclusion (Quick Summary)

TGE Mechanism Comparison:

① Normal TGE (Consumes 15 Points) The previous traditional model, with a limit of 3 BNB, tokens are distributed according to the over-subscription ratio, and after the TGE, they can be redeemed and traded immediately.

② Pre-TGE + Booster (Consumes 10 Points) After the first phase Codatta sale, the Booster activity is now in its fourth week, and the token may be locked for 3 months. The second phase @BASCAN_io (BAS) also has a limit of 3 BNB per account, and tokens are distributed according to the over-subscription ratio, but the tokens have a lock-up period and cannot be traded yet. The time for TGE token unlocking and trading will be announced after the Booster interaction activity ends.

③ Bonding Curve TGE (Consumes 15 Points) The one last night $Rion can be considered similar to a Pump internal market, "buy early cheap, buy late expensive", only "internal trading" is allowed before the event ends, and after the event ends, free trading is possible, but may not be able to compete with studios.

Specific analysis article:《Analysis of Binance Wallet TGE New Rules: Where Are the Opportunities for Retail Investors?》

Project Analysis Summary:

BAS is an infrastructure in the BNB ecosystem, used for generating certifications to verify information. BAS helps users perform on-chain or off-chain verification, binding real-name information on-chain, with limited prospects. Most projects in this sector have a market cap around several million, with average project data, moderate popularity, no KOL analysis or promotion, no team or funding information, and not the first project under the new mechanism, it is estimated that there will be little profit, and a one-month lock-up is required. During the bull market, it is advisable not to lock up, so it is not recommended to participate in such projects. The opening will not exceed $100M, and if there is a conspiracy, it's another story.

Two, Project Introduction and Token Economy

Project Introduction: Information Verification Infrastructure

Infrastructure in the BNB ecosystem, used to generate certifications to verify information. BAS helps users perform on-chain or off-chain verification, binding real-name information on-chain, with limited prospects.

Token Use and Economy: Total supply 1 billion, circulating supply 250 million, token economy not disclosed

Funding Situation: No funding information disclosed

Summary: Too little information, low popularity, proceed with caution.

Three, Valuation, Token Price Estimation

Peer FDV Comparison

@Galxe's @GalxePassport

On-chain identity verification, the project valuation is $160M

Comprehensive Estimate: Industry prospects are not good, no profit effect, low popularity, the leader of the sector is valued at $160M, $BAS is unlikely to exceed $100M, corresponding to a token price below $0.01, and too little information disclosure, proceed with caution.

Risk Warning: The above content is based on network material analysis and organization, for project research and discussion only, not to be used as investment advice.

Author: Sakura, ChainThink

Editor: Charlie, ChainThink