On Aug 6, Heaven Dex ran a genesis ICO for heavendex $LIGHT, closing early after ~11 hours with ~$27M raised from ~9k wallets. $4.8M was refunded to wallets over $77.7K to “improve distribution,” messaging an opening MC of ~$22.5M. Only 50% of the supply was sold, meaning the real day-one FDV was closer to ~$45M, not $22.5M. The TGE, scheduled for Aug 11, was delayed multiple times on launch day, they even tweeted “7 delays” themselves. Comms consistently framed the project as $22.5M MC without clarifying it was for half the supply, creating a major expectations mismatch. Price now sits at a ~$16M market cap, well below the pre-sale price Thoughts?
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