“Bear market for harvesting, bull market for trading; golden dogs do not roll, big hairs do not roll.” This article originates from a tweet by Yuyue, organized by PANews.
(Background: Efficiently capturing Sonic’s June airdrop, refer to these three major leverage strategies.)
(Additional background: Alpha Gold Digger – BNB re-staking leads to over 30% APY and earns airdrop points. What is KernelDAO? Invested by Binance’s Yzi Labs.)
My entry into the crypto space also began with an airdrop, but the current airdrop models have changed significantly. As a crypto practitioner with a verifiable track record in selecting paths, I will discuss what to do next. This article primarily aims to provide some core insights for players with small capital.
“Bear market for harvesting, bull market for trading; golden dogs do not roll, big hairs do not roll.” The core principle is:
Lower expectations. Whether in secondary, primary, or airdrop farming, one should recognize that the crypto industry has entered a bear market in terms of valuation. I have mentioned many times the concept of “returning to common sense.” In a lukewarm market, overly high emotional premiums will be deflated, leading to value regression.
If expectations can be lowered and greed kept in check, this is the foundation for continuing to cultivate in a bear market.
Before harvesting, the most important thing to understand is:
The essence of harvesting.
Harvesting is a semi-primary market participation channel, inherently similar to primary investments. Currently, airdrops serve as marketing tools used by project parties to acquire customers and enhance data.
Harvesting is not guaranteed to yield returns; it is a form of investment that may not even have a commitment of returns from the project parties.
Based on these three points, you will notice that the primary group in this round of primary investments—most VCs—are actually not making profits. Furthermore, the rule of primary investment is to invest in a bear market and reap in a bull market.
In recent years, all simple major harvests in airdrop history have almost emerged from bear markets. For example, APT and ARB were launched when the secondary market was not performing well, with retail investors facing lower capital costs and time costs, especially Aptos, and even testing network A8-level major harvests.
However, the second half of last year could essentially be considered a bull market. Engaging in primary investments during a bull market inevitably leads to a higher likelihood of being “harvested.” If one can understand that the essence of harvesting is a type of contract-free primary investment, it becomes clear that being harvested may simply be the norm.
Looking back at the timeline of Nillion, this project raised funds in Q3 of last year and initiated activities for major retail participation during the two most active quarters of the secondary market, while the current TGE phase is at the poorest time for the secondary environment… Essentially, this is a timing issue.
So, what should we do now?
Observe more and act less.
In a bear market, unexpected opportunities often arise. For instance, the recent $COCORO can be considered a significant golden dog; slowing down the pace still presents opportunities to earn, depending on how to evaluate the level of narrative.
On the basis of observing more and acting less, do not be overly greedy; earning tens of thousands of U in one go is already quite appealing.
Harvesting and cultivating can still be done, but do not expand and increase capital investment.
If necessary, consider engaging in daily harvesting work. If expectations can be lowered, there are still many opportunities for easy daily earnings in crypto, such as the IDO tasks on Binance Wallet, OKX’s Cryptopedia activities, and Bybit’s Solayer & Launchpool activities. These are basically guaranteed airdrops, but many overlook this small amount of money, which is an issue of expectations.
Additionally, while harvesting, think critically and reflect often, which can enhance understanding of the industry, rather than just treating it as a routine task. For example, how to improve personal efficiency? How to systematically gather information? How to organize and plan project and knowledge base? These are all areas for optimization.
Self-improvement.
Those who can should read books, especially to enhance learning capabilities. Learning a language or furthering education can bring very practical benefits.
Fitness is essential to create a good physical foundation for the bull market.
Believe that golden dogs do not roll, and big hairs do not roll. Try to find areas where there are still benefits, rather than just following what others do.
