I remember @shanshan521 tried this before on BTC, whether it was taproot or something else. The result was: this approach doesn’t work. Don’t even mention most coins—most stocks are attention assets too. Their meaningful liquidity phase during their lifecycle is extremely short, basically a case of “short bull, long bear.” At the time of TGE, this approach essentially creates artificially high valuations with low circulation. For coins, due to the market cap target and unlocking demand, as long as the liquidation benefits from unlocked tokens > the cost of pumping the price, investors/teams will work together to aggressively push through the “breakthrough.” Of course, this requires three conditions: - Initial liquidity is low, with no/very few airdrops - Can’t open at too low a price - Listed on major exchanges with contracts If you don’t decisively pump the price at this stage, there’s basically no chance later. Once this phase passes, attention fades, some unlocks are triggered, and liquidity freezes because low-volume price increases = bearish sentiment. The only possibility is a short squeeze driven by such expectations, which is why contracts must be listed. The result of this is repeated “door painting,” resistance zones grow larger, and liquidity gets worse and worse. If you insist on finding a solution, it would be something like bundled unlocking conditions, such as trading volume/weighted FDV, etc. But this is so complex and so easily manipulated by project teams with asymmetric advantages that investors won’t buy in, and exchanges would struggle to pass compliance. Therefore, for now, time-based unlocking remains the most realistic, effective, and fair unlocking method.