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Sentient project has recently attracted a lot of attention. It is an open-source AI model platform driven by the community, directly competing with OpenAI in terms of positioning. The project has raised $85 million in funding, backed by top institutions such as Pantera Capital, Framework Ventures, and Founders Fund. The investor lineup is indeed impressive.
From the tokenomics perspective, the total circulating supply is 34.3597 billion, with approximately 7.238 billion tokens currently in circulation, representing a circulation ratio of 21.065%. The pre-market contract price is 0.0205 USDT, corresponding to a market cap of 148 million USD. Regarding token distribution, 44% is allocated to the community and airdrops (13.2% unlocked at TGE), 19.55% to the ecosystem (5.865% unlocked at TGE), 2% to pre-sales (fully unlocked at TGE), with the team and investors holding 22% and 12.45%, respectively.
Looking at the funding background and institutional participation, the pre-market price of 0.0205 USDT does seem to be undervalued. However, pre-market prices are essentially the result of multiple rounds of bidding among various market participants. Since the final price is set at this level, it indicates that market expectations are anchored here. The current price is already close to the cost basis for institutions, offering some cost-performance space. For new tokens, it might be prudent to hold and observe during the initial listing, and make decisions based on market performance after the spot trading goes live.
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85 million in financing sounds impressive, but the circulating supply is only 21%. What about the major unlocks later?
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Another project aiming to compete with OpenAI. Will it survive until the next bull market?
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I'll pass on IPOs; I’m just waiting for the spot price to break below the IPO price to buy in.
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Community owns 44%, which sounds democratic, but in reality, institutions are still setting the price.
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Is 0.0205 undervalued? Honestly, I can't tell, but I definitely won't go all in on this.
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Both Pantera and Founders Fund are involved. Why can't these projects get traction once they go live?
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The current price is close to institutional costs? Then why are institutions still selling?
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Open-source AI aiming to compete with OpenAI? I don’t buy it. Let’s wait until the TGE is fully unlocked.
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Talking about a low circulation ratio and already hyping it up—it's a bit ridiculous.
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Matching OpenAI sounds good, but it's really hard to say how long this kind of project can survive.
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Circulating supply is only 21%? The unlocking ratio is so low that it's a bit concerning; there's a risk of dumping later.
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Institutional costs are already here, just treat the IPO as a bet on its post-launch performance, don't expect too much.
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44% community airdrop sounds good, but when it really pumps, these are usually dumped.
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Spot listing is the real highlight; the contract price has too much water, which is suspicious.
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Pantera and Founders Fund endorsements are a plus, but the competition in the AI project track is also very intense.
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Again comparing to OpenAI, I'm tired of this rhetoric. Let's wait until it launches before commenting.
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44% community airdrop, this ratio looks comfortable, but I'm worried about a dump wave coming.
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0.0205 is indeed cheap, but cheap goods often have their reasons, understand?
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A blessing for new investors? I'll wait and see how liquidity looks first.
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Raising 85 million sounds huge, but only 19% allocated to the ecosystem, which seems a bit strange.
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Locking in the pre-market price indicates market consensus? Then I’ll definitely wait and see.
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Institutional costs are approaching, but whether retail investors follow or not is a question.
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Feels like another fundraising story; the actual product strength still needs to be questioned.
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Circulation ratio is 21%, with 79% still at risk of dumping later. Do you dare to buy?