My entry into the crypto world began with airdrops, but the current airdrop model has changed significantly. As a crypto enthusiast with a track record of selecting projects, let me elaborate on what to do next. This article primarily targets those with small capital and aims to popularize some core ideas.

"Farm in bear markets, trade in bull markets; don't get greedy in good times, and don't get complacent in bad times."

The most fundamental step is to lower expectations.

Whether it's secondary markets, primary markets, or airdrops (which are similar to a hybrid of primary and secondary markets), one should recognize that the crypto industry has entered a bear market in terms of valuation. I've mentioned many times before the importance of returning to common sense. In a cold market, excessive emotional premiums will be deflated to return to their true value. If you can lower your expectations and not be too greedy, that will be the foundation for continuing to work in a bear market.

Before farming, the most important thing to understand is: What is the essence of farming?

• Farming is a participation channel in the hybrid primary market, which has some similarities to primary investments.

• Airdrops, in their current form, are marketing tools used by project teams to acquire customers and boost data to achieve listing effects.

• Farming is not guaranteed to yield returns; it is an investment without a confirmed commitment from the project team.

Based on these three points, you will realize that the main group of primary investors—most VCs—actually don't make money, and the pattern of primary investment is to invest in bear markets and harvest in bull markets.

Almost all simple and lucrative airdrops in recent years have come from bear markets, such as APT and ARB. These were released when the secondary market was not performing well, and retail investors' capital and time costs were not as high, especially Aptos, which was a big airdrop even at the A8 testnet level.

However, last year was mostly a bull market, and the likelihood of being "reverse-farmed" during primary investments in a bull market is inevitably high. If you understand that farming is essentially a primary investment without a contract, you will see that being reverse-farmed might just be the norm.

Looking back at the timeline of Nillion, this project raised funds and launched activities mainly for retail participation in Q3 last year, which coincided with the two most active quarters of the secondary market. Now, when the TGE (Token Generation Event) is happening, it is at the worst time for the secondary market environment... Essentially, this is a matter of timing.

So, what should you do now?

Observe More, Act Less

Even in a bear market, there are often unexpected opportunities. For example, the recent $COCORO was a big "golden dog." Slowing down and making money is still possible; it just depends on how you judge the level of the narrative.

On the basis of observing more and acting less, don't be too greedy. Earning tens of thousands of dollars at a time is already quite satisfying.

Farming can still be done, but don't expand or increase capital investment.

If necessary, you can focus more on daily farming tasks. If you can lower your expectations, there are still many easy daily tasks in the crypto world. For example, Binance Wallet's IDO tasks can earn hundreds of dollars per account, OKX's CryptoPedia activities, and Bybit's Solayer & Launchpool activities. These are all guaranteed airdrops that people usually look down upon because of the small amounts involved. This is an issue of expectations.

Moreover, when farming, think more and review more. This can also improve your understanding of the industry, rather than just treating it as a routine task. For example, how can you improve your efficiency? How can you systematize the process of collecting information? How can you organize and plan your projects and knowledge base? These are all ways to optimize your approach.

Self-Improvement

If you can, read more books, especially those that enhance your learning abilities. Learning languages or improving your academic qualifications can have very practical benefits.

Exercise to build a good physical foundation for the bull market.

Believe that good times don't require excessive effort, and bad times don't require complacency. Try to find areas that still have advantages instead of just following what others are doing.

My entry into the crypto world began with airdrops, but the current airdrop model has changed significantly. As a crypto enthusiast with a track record of selecting projects, let me elaborate on what to do next. This article primarily targets those with small capital and aims to popularize some core ideas.

"Farm in bear markets, trade in bull markets; don't get greedy in good times, and don't get complacent in bad times."

The most fundamental step is to lower expectations.

Whether it's secondary markets, primary markets, or airdrops (which are similar to a hybrid of primary and secondary markets), one should recognize that the crypto industry has entered a bear market in terms of valuation. I've mentioned many times before the importance of returning to common sense. In a cold market, excessive emotional premiums will be deflated to return to their true value. If you can lower your expectations and not be too greedy, that will be the foundation for continuing to work in a bear market.

Before farming, the most important thing to understand is: What is the essence of farming?

• Farming is a participation channel in the hybrid primary market, which has some similarities to primary investments.

• Airdrops, in their current form, are marketing tools used by project teams to acquire customers and boost data to achieve listing effects.

• Farming is not guaranteed to yield returns; it is an investment without a confirmed commitment from the project team.

Based on these three points, you will realize that the main group of primary investors—most VCs—actually don't make money, and the pattern of primary investment is to invest in bear markets and harvest in bull markets.

Almost all simple and lucrative airdrops in recent years have come from bear markets, such as APT and ARB. These were released when the secondary market was not performing well, and retail investors' capital and time costs were not as high, especially Aptos, which was a big airdrop even at the A8 testnet level.

However, last year was mostly a bull market, and the likelihood of being "reverse-farmed" during primary investments in a bull market is inevitably high. If you understand that farming is essentially a primary investment without a contract, you will see that being reverse-farmed might just be the norm.

Looking back at the timeline of Nillion, this project raised funds and launched activities mainly for retail participation in Q3 last year, which coincided with the two most active quarters of the secondary market. Now, when the TGE (Token Generation Event) is happening, it is at the worst time for the secondary market environment... Essentially, this is a matter of timing.

So, what should you do now?

Observe More, Act Less

Even in a bear market, there are often unexpected opportunities. For example, the recent $COCORO was a big "golden dog." Slowing down and making money is still possible; it just depends on how you judge the level of the narrative.

On the basis of observing more and acting less, don't be too greedy. Earning tens of thousands of dollars at a time is already quite satisfying.

Farming can still be done, but don't expand or increase capital investment.

If necessary, you can focus more on daily farming tasks. If you can lower your expectations, there are still many easy daily tasks in the crypto world. For example, Binance Wallet's IDO tasks can earn hundreds of dollars per account, OKX's CryptoPedia activities, and Bybit's Solayer & Launchpool activities. These are all guaranteed airdrops that people usually look down upon because of the small amounts involved. This is an issue of expectations.

Moreover, when farming, think more and review more. This can also improve your understanding of the industry, rather than just treating it as a routine task. For example, how can you improve your efficiency? How can you systematize the process of collecting information? How can you organize and plan your projects and knowledge base? These are all ways to optimize your approach.

Self-Improvement

If you can, read more books, especially those that enhance your learning abilities. Learning languages or improving your academic qualifications can have very practical benefits.

Exercise to build a good physical foundation for the bull market.

Believe that good times don't require excessive effort, and bad times don't require complacency. Try to find areas that still have advantages instead of just following what others are doing.