There have been many failed IEO projects. On the Huobi exchange, Bitmax had many IEO hosted projects and then I did not see them appear anymore. I mean, they're fuzzy and there are some dead projects like DEEP CLOUD. I think the success of a project is not about how much money it attracts, but what it does and how much value it brings to its owners. For example, Thorchain, they only raised a few hundred thousand dollars but currently, their capitalization is 80 million dollars.
IEOs only help projects to be successful at an early stage, after which projects need to work hard to gain long-term interest from investors, and continue to invest. their project. I also saw many projects on OKEX get dead after a while listed