Crack the Wealth Code: Finding the Next ENS-Level Airdrop

Original Title: "The DeFi Way of Wealth Code: How to Find the Next $ENS-Level Airdrop"

Original Author: LgDoucet

Original Translation: PomchanK

Original Source: The DeFi Way

The excitement or "sour grapes" of the recent ENS airdrop is now in the past. Looking ahead, how can we find the next ENS-level airdrop? Twitter blogger PomchanK shared his views, suggesting that we should participate in airdrop hunting from the perspective of experience and seed round investment. However, as the saying goes, do good without asking about the future. Perhaps the era of Web3.0 emphasizes individual value more. We should not approach airdrop hunting as a mere task in a utilitarian manner.

Additionally, blogger LgDoucet has distilled specific methodological guidance from his past experiences of receiving large airdrops, which PomchanK has compiled. Hopefully, the insights and methodological guidance from these two parts can inspire you.

 ENS Airdrop Insights

Here are a few introductory sentences: Do not treat airdrop hunting as a task, or you will only become a tool. Try to interact with and try to understand the project. Learn knowledge while engaging with the project. When your airdrop projects reach a certain number, you can naturally connect the dots. Your understanding of DeFi projects will become more systematic.

1) Airdrop hunting is essentially the process of seed round investment in a project you believe in. The time and gas fee you invest will ultimately be exchanged for your token share. The cost in terms of gas fee and token quantity is the cost of your investment in this project.

2) For example, in the ENS airdrop I participated in, I recorded the registration period's price and the wallet address mapping amount. Overall, the cost per account is 108u. With over 30 accounts, each receiving over 300 ENS on average, the cost of the ENS I received was 0.54u. The current price is 45u, resulting in a 125x return on investment, although such ROI can only be calculated in hindsight.

Simply put, do good deeds and don't ask about the future.

3) Today, I recommend everyone to read a thread from a Twitter guru, LgDoucet. I stumbled upon it by chance and found it very educational after reading it repeatedly. However, Google Translate butchered his concise language, so I decided to translate it and learn together with the Chinese community. After reading, you can compare it with the original machine translation. Below is my translation, and feel free to point out any errors:

a. What is the purpose of Airdropped Tokens? Besides helping the team gain cash flow, they can also be used for:

1. Community governance

2. Staking

3. Interaction

4. Treasury reserves

In general, they are given to early supporters, project teams, investors, and project contributors. The purpose is to empower the community with governance, token utility, and profits, which is crucial for the project. 

b. Is governance so important?

For each token holder, a token is not just a stock that can be exchanged for fiat currency; it is the tool you will use to exercise voting rights in this community for the next few decades. The crypto industry is a paradigm shift aiming to create a fully decentralized financial and social model. (Note: To find a good token model, look for one that aligns with this standard)

c. Researching past airdrops

I was fortunate to receive airdrops from projects like Uniswap, PoolTogether, 1inch, AxieInfinity, ensdomains. Each project's website has a whitepaper; try to understand the token's purpose and future. "Spending time on this is more meaningful than blindly rushing into things all day." I added this sentence myself.

d. Deep Dive into Tokenomics 

Taking the example of ENS's Token Allocation Model, pay attention to the size of the Treasury, which is being used for several purposes:

1. Building community tools 

2. Ecosystem development and growth 

3. High APY incentivizing holder staking.  

e. Look for Clues Around You 

Think about the web3 tools you use every day:

1. Where do you connect your wallet daily?

2. Do you trade NFTs? 

3. Which websites do you log into?

If they haven't issued a token yet, they might soon. The filtering criterion is decentralization, as most web3 companies tend to go down this path.

f. Find Some Projects You Like 

Web3 represents a paradigm shift. When my friend told me about the ENS project years ago, I was indeed captivated. The project straightforwardly addresses wallet payments and web3 social identity issues. So, make an effort to find projects that play a significant role in web3.

g. What to Do to Receive an Airdrop for a Project: 

Join the project's team, participate in the project's development, engage in buying and selling transactions, register, vote, invite new users, provide liquidity through staking, follow Twitter for information gathering. Ensure that everything you do involves on-chain interactions with the project so that the project team remembers your contributions and rewards you with an airdrop.

h. Continuously Learn 

The original author didn't express this part very clearly. My understanding is that when you continuously delve deep into a specific area of DeFi, you become an expert. When each innovative new protocol emerges, your keenness will surpass that of the average person, presenting an opportunity to discover new possibilities.

i. Use Tools to Assist You 

You can use a tool like Earnifi to help you find unclaimed airdrop information.

j. Maintain Patience 

Airdrop chasing goes against human nature and does not provide instant results. You might see others receiving tens of thousands or even hundreds of thousands of dollars from an ENS airdrop, but the reality is: I bought an ENS domain name over a year ago, played Axie for over 3 years. So, strive to do what you believe is right and important, then wait.

k. Consider Holding Good Airdrops 

In the world where everyone is experiencing FOMO, selling a portion of high-quality airdrops and considering buying back for long-term holding after the airdrop hype subsides might be wise. I sold UNI and AXS prematurely that year because I was very greedy and didn't take the time to understand the full extent of the projects.

l. The Crypto World is Full of Imagination 

Today, it's DeFi finance; tomorrow, it might be social media + branding.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia