After CZ Zhao Changpeng’s strong endorsement of BNB Chain, the BNB ecosystem has seen a significant surge, with the decentralized exchange Pancake experiencing a daily increase of nearly 80%. Meanwhile, YZi Labs, which invested in the AI agent platform MyShell during its time with Binance Labs, seized the opportunity and announced an airdrop snapshot on the 12th. Today, it has declared the IDO on PancakeSwap, set to open at 10 PM Taiwan time on the 13th. Is this IDO worth participating in? This article will analyze the investment opportunity in MyShell.
Is MyShell’s token launch well-prepared and taking advantage of favorable winds?
On the 12th, MyShell’s official announcement of an airdrop snapshot has created anticipation within the community for the token launch. At the same time, BNB Chain has garnered renewed market attention following CZ Zhao Changpeng’s repeated mentions of the test token $TST, as well as its listing on Binance. On the 13th, MyShell announced its IDO on PancakeSwap.
MyShell is an AI agent platform built on BNB Chain. Unlike ai16z and Virtuals Protocol, MyShell not only has modular capabilities to create its own AI agent functions but can also profit through investments in others’ AI agents.
In its seed and Pre-A rounds, MyShell raised $16.5 million, with the amount invested by Binance Labs in August last year remaining undisclosed. However, the valuation during the seed round reached $57 million.
MyShell conducts IDO at an extremely low valuation, raising 50 times oversubscribed in six hours
In this IDO on PancakeSwap, MyShell is selling 40 million $SHELL tokens, accounting for 4% of the total supply. The price per $SHELL is set at 0.00003175 $BNB, aiming to raise 1270 $BNB. With the current price of 1 $BNB approximately at $700, this equates to a valuation of $22 million for the IDO. Compared to the seed round valuation of $57 million and the subsequent enthusiasm for the AI agent theme and the rise of BNB Chain, this IDO represents a well-prepared initiative that is also benefiting from favorable market conditions.
To participate in this IDO, one must use the Binance Web3 wallet to create a non-custodial wallet, with options for QR code login or mobile backup. Click on the exclusive TGE event for MyShell in the marquee above. As of the time of writing, about 6 hours remain, so act quickly. Currently, 65,221 $BNB has been raised, which is 51 times oversubscribed, leading to a refund process. Each address can invest only 3 $BNB.
Risk Warning
Cryptocurrency investments carry a high level of risk, and prices can be highly volatile, potentially resulting in a total loss of principal. Please carefully assess the risks involved.