Product Update - Realms v2 现在提供 Token streaming 产品，允许随时间从 treasury 发送 Token [1] - 该产品目前仅适用于 DAOs，未来将推出面向所有用户的专用应用程序 [1] Use Cases - Token streaming 产品适用于 payroll、rewards、vesting 和 lockups 等场景 [1] - 该产品旨在简化 Solana 上的运营，无需手动批处理 [1]

Market Sentiment & Investor Concerns - Early-stage investing requires capital lock-up, which many are unwilling to accept [1] - Chronic flippers are dissatisfied with vesting and lockups on capital formation launchpads [1] - The industry questions the nature of capital formation launchpads, distinguishing them from simple shitcoin launchers [1] Project Evaluation & Risk Assessment - A $400 million valuation with 0 unlocks for 12 months raises concerns [2] - Comprehensive due diligence is necessary, including reviewing the unlock schedule, market maker contract, and actual float [2] - Gathering information on Seed/Series A/Series B funding rounds is crucial for informed decision-making [2] - Vesting schedules on unfamiliar projects are less desirable in a bull market [2] Regulatory Landscape - Regulatory oversight may prevent participation in certain offerings [2]