At $373m+ @PlasmaFDN is the largest publicly confirmed oversubcription in liquid crypto in recent history. Another way to frame it is that there's now a $323m+ price floor at $500m valuation but odds seem decent that we don't ever see it. Incredible dynamics.

@PlasmaFDN Reduce the float size to only 10% at a cheaper price ($500 million) and give people size based on their committment to the chain. In the end, we've now seen 2 projects go the public route and we'll find out which route was the better to take but things are starting to clear up.