Recently participated in a comparative experience of two popular fundraising projects, and the data is quite interesting.

Liquid Trading raised 7.6 million, and the overall participation process was relatively acceptable in terms of wear and tear. Ostium Labs raised a larger amount, reaching 23.5 million, with a valuation of 250 million, but choosing this route indeed incurs significantly higher wear and tear costs.

A detail worth noting—Liquid's expected points and actual points issued show a considerable gap; the actual settlement often results in 2-3 times more. This difference in expectation management is quite interesting.

In terms of funding stages, Liquid is in the relatively early seed round, while Ostium has already completed a larger-scale fundraising, showing a clear difference in project maturity. There were also quite a few participants last week, but overall returns still depend on the project's tokenomics design.

Comparing the fundraising progress and participation costs of these two projects, the choice of route depends on your risk tolerance.