Recently, a major DEX launched a new round of token issuance, this time on a different chain, with the project team being MAND. Interestingly, the entire process was quite low-key, and I hardly saw any influencers sharing or promoting it on X.

I have already borrowed CAKE tokens, but I’m still considering whether to participate. There are 2.5 hours left until the event deadline, so there’s still time.

What surprised me is—usually during token launches, the CAKE lending market is completely drained, but this time I was able to borrow from a lending protocol smoothly. This phenomenon is quite interesting and reflects two very different possibilities. One interpretation is that very few people are participating, which could mean a big opportunity. But from another perspective, maybe everyone is not very optimistic about this project, so no one wants to participate, leading to market apathy.

Is this a potential dark horse project, or is it destined to be reverse harvested? What do you all think?