Just finished chatting with my friend about airdrops, and this market right now is so cutthroat it’s making me want to throw up. The interaction costs keep climbing—gas fees can burn through dozens of dollars at the drop of a hat. The risk of getting backfired by a counter-attack campaign is even higher than winning the lottery. My strategy right now is: don’t FOMO, and don’t chase whatever’s hot. When I see a new project, I tell myself—“Is this team actually doing anything? What’s the community vibe like? Or is it just a group set up to farm airdrops?” Those that keep shouting “guaranteed to hit” are most likely having retail users serve as cannon fodder.

Now the funding rate is at an extreme, and everyone in the group is debating whether it’ll reverse or whether the bubble will keep getting squeezed. I honestly can’t make sense of it, so I’ll just move less for now. I’d rather interact a little less than put my principal at risk for those small expected gains. Anyway, with airdrops, just stay more laid-back—pick a few ecosystems you genuinely like and dig in deeper, keep costs under control, and leave the rest to luck.

Forget it—I’m not going to talk about this for now. I’m going to review tonight’s governance meeting, and I’ll also complain that the meeting time got pushed back another half hour.