Add FDV and Rat Trading cards with detailed explanations

cards/FDV.md

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+#explain-card 
+
+In the Web3 space, FDV stands for Fully Diluted Valuation. It’s a key metric used to assess the total value of a cryptocurrency or token project, assuming all possible tokens that could ever exist are in circulation. FDV is especially relevant in Web3, where projects often involve tokenized ecosystems built on blockchain technology, such as decentralized finance ([[DeFI]]), NFTs, or decentralized applications ([[DApp]]s).
+
+FDV is calculated as: `FDV = Current Token Price × Total Supply`
+
+- Current Token Price: The market price of a single token at a given moment.
+- Total Supply (Fully Diluted): The maximum number of tokens that will ever exist, including those currently circulating, locked, reserved, or scheduled for future release (e.g., through staking rewards, team allocations, or vesting schedules).
+
+For example, if a token trades at $1 and its fully diluted total supply is 1 billion tokens, the FDV would be $1 billion.
+
+## What Can FDV Represent?
+
+FDV serves multiple purposes in the Web3 ecosystem, offering insights into a project’s scale, potential, and risks. Here’s what it can represent:
+
+- `Project Scale and Market Perception`, it reflects the market’s valuation of a project if all tokens were in play. A high FDV might signal strong investor confidence or hype, while a low FDV could indicate undervaluation or lack of traction.
+- `Future Dilution Risk`, Since many Web3 tokens have locked or unreleased supplies (e.g., held by founders, investors, or staking pools), FDV warns investors about dilution. As more tokens enter circulation, the price per token could drop if demand doesn’t keep pace.
+- `Comparison to Circulating Market Cap`, it is often compared to the circulating market cap (current price × circulating supply) to gauge how much of the token supply is already out there. A big gap between the two can signal upcoming inflation or vesting events.
+
+## Why FDV Matters in Web3
+
+In Web3, where hype and speculation often drive markets, FDV is a reality check. Unlike traditional finance, where valuations lean on revenue or assets, Web3 projects often trade on potential—think decentralized networks replacing centralized giants. But this also makes FDV tricky:
+
+- `Volatility`: Token prices swing wildly, so FDV can change fast.
+- `Token Unlock Schedules`: Many projects release tokens gradually, meaning FDV’s full impact isn’t felt immediately.
+- `Utility Uncertainty`: A high FDV doesn’t guarantee a project’s success if its tech or adoption lags.

cards/Kaito.md

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 Kaito introduced its native token, `$KAITO`, in mid-February 2025. As an [[InfoFi]] token, it quickly became available on numerous exchanges and platforms. This token powers the platform's "attention economy," enabling users to guide focus within the network. Contributors providing high-quality content and data are rewarded, fostering an environment where valuable information is incentivized.
 
-
 ## References
 
 - [The Next-Gen Search Engine for Web3: Kaito - TOKEN2049 Singapore 2023](https://youtu.be/FfTNsu-aOEg?si=q_RYT-Cq9ARI9QX)

cards/Rat Trading.md

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+#explain-card 
+
+"Rat Trading" describes an illegal form of insider trading where individuals with privileged access to nonpublic information exploit it for personal gain. Typically, fund managers, analysts, or other insiders buy or sell securities—usually stocks—before a significant market-moving event. This allows them to profit once the information is publicly released and the market reacts. The term "rat" suggests the sneaky, underhanded nature of the practice, much like a scavenging rodent. In the United States, this behavior is similar to front-running or insider trading, and it is regulated by the SEC, with penalties that can include fines, up to 20 years of imprisonment, and restitution.
+
+The decentralized nature of Web3 provides both unprecedented freedom and challenges. While its open structure invites innovation, it also creates opportunities for illicit activities reminiscent of underhanded "rat-like" behaviors. Without centralized oversight, bad actors can operate more freely, and the anonymity of blockchain transactions complicates efforts to track them down.