TechFlow news, CoinList stated that a high FDV (fully diluted valuation) in itself is harmless. The issue lies in projects having an FDV during private rounds that is 20 times lower than the FDV offered to retail investors just weeks later at launch. Retail investors would be much happier if they could participate at prices closer to the VC round.
Recent high-profile airdrop project FDVs include:
- $DYM — $4.7B
- $STRK — $27B
- $ARB — $13.2B
- $W — $14.25B
The average FDV of these projects at launch was $14.7B, 13.3 times higher than their private market valuations. In contrast, for CoinList’s first five token sales, retail purchase prices were only 1.04 times the VC round price—offering significantly better terms.
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