#永续合约与杠杆交易 Seeing the Space project, I am filled with a veteran’s caution. 10x leverage, 1000x returns, 50% buyback and burn mechanism... I’ve seen this narrative too many times since 2021.

First, let’s talk about the history of UFO. A market cap of $1.5 billion, in the top 100 on CMC, sounds impressive, but I need to point out a detail that’s easily overlooked—the project emphasizes "distribution capability and community consensus" rather than "insider advantages." This kind of talk always sounds like an excuse for someone. The real question is, how are the participants from that round doing now? Most likely, they’ve already lost interest in this project.

The perpetual contracts and high-leverage trading that Space promotes essentially amplify human greed. 10x leverage means ten times the risk of liquidation. The claim of "potential 1000x returns" is only true for a very few survivors; most people will see their funds go to zero. I’ve suffered enough losses with these kinds of products and know the truth about leverage trading—most of the funds end up flowing to market makers and project teams.

Regarding the tokenomics, a 50% buyback and burn sounds very attractive, but only if the platform has genuine, sustained trading volume. If users are losing money, where does the platform’s revenue come from? This logical cycle is actually quite fragile.

The public sale uses "variable token distribution models" and "fair price discovery," which sound impressive, but in reality, they are just disguised quota management. The more complex the tiered rights are designed, the easier it is to get lost in calculating benefits and overlook the real project risks.

My straightforward advice: if you don’t have at least a year of practical experience with perpetual contracts, stay away from these products. If you’ve already experienced the pain of liquidation, you should understand better than anyone that high returns come with high risks. Before participating, ask yourself—can I afford to lose this money completely? If the answer is no, then no matter how luxurious the financing or how tempting the mechanism design, you should stay far away.

Longevity is far more important than quick gains.