#代币空投与分配 Seeing the $6.75 billion airdrop data from Lighter, I must calmly remind everyone: news about this being the "10th largest airdrop in history" is the easiest way to make people lose their minds.

I've seen many airdrop feasts in previous years. 75% of recipients are still holding LIT, which looks good, but don’t be fooled by this ratio— the real question is, are these people waiting or being trapped? The idea of exchanging 20 tokens per point sounds generous, but the key is to ask: Is the token distribution mechanism of this project healthy? Has the team fully unlocked the tokens? Will there be a large amount of selling pressure later on?

My experience tells me that the bigger the airdrop, the more cautious you should be. Because this means: 1. The project team might be using huge airdrops to attract attention and inflate the initial price; 2. After a large influx of retail investors, they often become bagholders; 3. Once listed on exchanges, the selling pressure can be brutal beyond imagination.

Lighter’s distribution is still ongoing, and some users currently cannot see the amounts. I’ve seen this "phased distribution" mode too many times. Don’t get excited prematurely—first, thoroughly research whether the project has real practical value, and understand the team’s background, rather than being blinded by the hype of the airdrop.

The secret to surviving long on the chain is: be most cautious when things are the hottest.