Lombard's public sale valuation is 450 million, while Babylon's FDV is only 490 million??? I’ve seen quite a few people discussing @Lombard_Finance's community round public sale on Buidlpad, backed by Polychain and YZI, and it’s the third carefully selected public sale on @buidlpad. Overall, everything is top-notch, but I won’t dwell on that since others have already talked about it extensively. Instead, I’ll share my understanding of Lombard and whether it’s worth participating from a valuation perspective. Lombard's public sale valuation is 450 million, while Babylon's current FDV is only 490 million USD. I found this puzzling, so I delved deeper to understand what this is all about. Let’s start with wbtc. Wbtc is a cross-chain wrapped version of BTC because the BTC main chain doesn’t support smart contracts. Seeing the lending and LP mining activities thriving in the ETH ecosystem, I decided to entrust my BTC to BitGo, which then gives me wbtc on the ETH chain, allowing me to...
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