Kinda crazy how many solid teams still get wrecked post TGE just because of the wrong market maker/TGE strategry. They have zero clue how secondary trading or market making actually works. Thought it might good to drop a few notes for teams still building in this market 👊 1. CEXs Listings A lot of teams still think that getting listed is the end goal. That might work in the past, but the listing effect has weakened significantly. Unless you are an internal favorite, listings won’t magically pump your token. Most CEXs today care primarily about one thing: new user acquisition. Web2 users matter. (Except maybe Upbit which often aligned with KR regulatory trends.) Except project's own communities and connections, most post TGE buy pressure doesn't even come from organic retail anymore. It comes from: - Private deal communities affiliated with exchanges - MM's referral networks. Yet most teams don’t secure these relationships ahead of time. For many cases, launching on Tier 1.5/2 CEXs on day 1, and then going for KR/NA CEXs often performs way better than starting with a Tier 1 listing right away. DEX/HL can also be smart options for day 1. 2. Active MM vs Passive MM Most teams only know the big branded MMs which are usually passive. Here’s how they work: - Borrow your tokens and provide liquidity, which is a method that only requires low entry level of skills but done by most of the big brand market makers. This creates a counterparty situation between the projects and the MM. - Dump them high at launch - Buy back at ATL right before token return deadline All under NDA, you can’t prove a thing even if they tank your token. They're top of the food chain for a reason. Active MMs: - No token borrowing - They use your API access to trade. Some are long-term deals for better token performance. - They make money only if your token trades well - No conflict of interest, more like an in house trader squad Most don’t do branding or paid PR. They stay lowkey and work via referrals. Not all active MMs are great either. Recently Binance took action against some MMs tied to poorly performing listings. Welp... if an active MM is dumping, the project team had to know what was going on. Just a convenient excuse to accumulate or cash out. So yeah.. For projects, do your homework and chose wisely with the Active + passtive MMs. Learn the basics of trading and token dynamics before listing. Being a good builder isn’t enough, you need to be a smart trader too. For community members, support teams that not only have good heart, but also know what they’re doing.