Binance's new coins these days are pretty interesting: Alpha has become the backyard of a few active market makers. The project teams, in order to justify themselves to investors and get listed on futures, are willing to hand over their tokens. Exchanges, in turn, loosen restrictions for trading volume, and retail investors can spot opportunities to make money. The path is clear—what stage, what price—everything is well-organized. Projects that go straight to the main platform, however, tell a different story. This is a much stricter market, but there's also a lot of information asymmetry. Binance watches Upbit, Upbit watches Coinbase, and Coinbase has its own set of restrictions. For project teams, after listing on all the exchanges in the first wave, they often don’t know what to do for the second wave. But if they don’t follow up, they might lose their chance entirely. The result? Hesitation leads to missed opportunities. To die a glorious death or to survive in mediocrity—that’s the question every project team needs to ponder…