Almost all of the recent IDO/IGO's have fallen below the IDO/IGO price (eg PS1 and MTM etc.) and they no longer participate, considering that the IDO/IGOs in the community will be the same. You may have noticed this in the latest IDO/IGOs, because investors no longer participate in projects because they can't even get their money back. Why ? Because on the listing day, the project falls below the IDO/IGO price.

If the listing price falls below the IDO/IGO price, investors should switch to the Protected Return system. If a project falls below the IDO/IGO price within the first 5 days after the listing or listing date, its money must be refunded. Otherwise, I think investors will hesitate to participate in projects.

Best Regards