I saw this project because it's basically a kit for developers to create dApps and they are designed to offer high-performance and low-latency trading infrastructure to simplify the process for developers integrating perpetual futures or spot trading into their applications, but what bothers me is this project apparently has their own native token
it just seems like all projects are having their native token for no reason these days and my guess is maybe to make profit from the market but most of them claim holding it gives you privileges that are mostly meaningless. I was just surprised when I saw Orderly network having a token
I think it's for profit or do you guys think most native tokens are actually useful?
Some projects create their own token for fundraising, where they use the money gotten from their private sale or IDO sale to develop their project and also list it on a centralized exchange for trading. Investing in newly created or launched tokens is a risk because most projects are just trying to milk their investors. When they list their tokens on a centralized exchange, it always turns out not to favor investors because the price always trades below the private sale or IDO sale price. There are so many new tokens launched in the crypto market just to scam investors of their hard-earned money, so be careful with newly created tokens with no use case before you lose your money.
Good analysis before any investment is very crucial nowadays, that's true.