2025-12-27 17:21:27

Many people look at FF's price fluctuations and immediately conclude that the project is "just a flash in the pan." But to truly understand this thing, you need to broaden your perspective.

Rather than obsessing over daily price movements, it's better to examine how the USDf supply mechanism, collateral structure, and redemption rules are designed. Honestly, this project is doing something quite challenging — integrating trading platforms, custody, and on-chain vaults into a product that can continuously generate USD income. Price fluctuations are definitely important, but what truly tests protocols like USDf is: can they exit normally under market pressure according to the rules? Can the yields maintain their expected levels across different market conditions? That’s the real question that determines its survival.

Let's first look at the timeline. In mid-September 2025, a major exchange included Falcon Finance in an airdrop plan, based on a snapshot of BNB holdings in on-chain yield products during a specified period. By September 29, FF officially launched trading, simultaneously tagging itself with a Seed Tag, and listing multiple trading pairs. The total airdrop was 150 million FF tokens, accounting for only 1.5% of the total supply, but additional tokens were reserved for future airdrop activities. This "airdrop first, then listing" approach? Basically means short-term selling pressure is unavoidable.

Now, let's look at the actual performance of price and liquidity. Around December 26, FF's price was near $0.095, with a 24-hour trading volume of about $134 million, and a total market cap of approximately $223 million. It ranked well outside the top 100. How should we interpret these numbers?

FF-0,65%

BNB0,73%

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SoliditySlayer

· 8h ago

Speaking of this airdrop rhythm, it feels a bit familiar—first smashing liquidity, then slowly harvesting retail investors. There aren't many protocols that can withstand a bear market in the yield space; it all depends on how FF performs. USD stablecoin products sound good, but the key is resilience—this needs time to prove. Talking about the price at 0.095 is a bit early; the main concern is whether the vault mechanism is reliable. 1.5% token allocation? This subsequent airdrop seems to be aiming for a long-term strategy.

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CrashHotline

· 8h ago

Honestly, those who don't look at the fundamentals are just newbies; focusing only on the charts will eventually lead to losses. Selling pressure is indeed intimidating, but only those who can sustain themselves with profits will survive. I haven't fully understood the USDf mechanism yet. Can someone explain how the redemption pressure is alleviated? Being outside the top hundred in ranking isn't necessarily a death sentence; the key is whether the subsequent financing and operations can keep up. Price is too虚虚; it still depends on how long the real gold and silver in the treasury can support it.

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SandwichVictim

· 8h ago

Basically, it's just airdrop dumping. I've seen this trick happen five times a year. I still believe in the protocol, but most of the current investors are just bagholders. Whether the returns can be sustained is a question, but a bigger concern is whether this thing can survive until then. The price has broken support so aggressively, and the liquidity data is just so-so. I can't really trust it.

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quietly_staking

· 9h ago

Honestly, those guys who constantly watch the K-line and shout about crashes might as well spend some time figuring out whether this mechanism can actually survive.

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CoinBasedThinking

· 9h ago

Another argument of "focusing on fundamentals rather than price," sounds good but I haven't seen many making money from it. Price can indeed be deceptive, but selling pressure is also part of the fundamentals, brother. If we really want to say USDf can hold the returns, we need to see if there are actual application scenarios supporting it. It's still too early to draw conclusions now. A 1.5% airdrop share seems quite generous, but the problem is there are hidden pitfalls waiting later. I've seen this routine too many times. Talking about projects without considering price? Unless you're a true believer, I still find trading volume and holding interest more reliable.

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