Recently, many people have been sharing how to participate in this activity. After all, it’s a product launched by a well-known industry team, and I always feel like there’s something to be mined. But the more I look at it, the more I feel something’s off.

Invitation codes, basic subsidies, trading competition points... all kinds of setups, looking exactly like a project from a few years ago. What’s more exaggerated is that this time they’ve directly opened up the calculation of trading volume for stablecoin刷量.

This is very interesting. We all know that the matching costs on different public chains are there—some have a 0.1% fee, others 0.2%. But now? There’s no need to consider that at all. You can just use USDT or USDC to刷量 back and forth between your own wallets, and in an afternoon, you can pile up millions in trading volume. And this calculation is very clear, transparent to the extreme.

In comparison, if you want to刷量 through perpetual contracts or other derivatives? That’s much more complicated. Funding rates, slippage, real counterparties... there are too many factors, and the costs are higher. So many people just give up on that.

But because the stablecoin route is so straightforward, it actually leaves me a bit confused. What’s the difficulty of this game? The basic competitiveness? It all seems to be flattened out. To put it simply, whoever has more principal wins—it's that simple and brutal.

There have been projects that did this before, but they took a very aggressive fee cut, so profit margins were limited. This time, it seems like there’s no such hurdle. So the question is—how should we play this game? Should we really go all out to刷量, or wait to see how they adjust later? I’m a bit curious if they might change the rules halfway through.