Another tough morning. Watching $FOGO drop from 0.05, I still naively thought it could hold, but in the end, 6 BNB went in and I lost $140 in one shot. Is this called an IPO? I think it’s more like a discount—the user’s discount.

To put it plainly, the problem with locked-in TGE is this: the project team holds the chips, while retail investors are tightly locked in. Pumping and dumping all depend on their whim, and we can only wait helplessly. For tokens with unlock periods, if they can’t be sold or dumped, watching the account balance turn into a pile of crap, what else can we do besides posting memes?

Later, I started to reflect on investment logic. Instead of passively bearing these risks, it’s better to proactively adjust strategies—put funds into places you can control. Recently, I prefer a no-lock position, entering and exiting at will. For example, generating lisUSD stablecoins through staking assets, which can provide continuous income without being trapped by unlock cycles.

The benefits of this model are obvious: asset liquidity remains in your hands, and the earning rules are written into on-chain contracts, leaving no room for manipulation. During a bull market, holding tokens to earn yields; in a bear market, still able to earn stable income. $LISTA, as a governance token for this kind of ecosystem, not only has investment value but also represents a new DeFi wealth management approach.

Ultimately, true investing is about maintaining control over your funds, not passively waiting and praying.