Recently the funding rates have been getting extremely out of control again—people in the community are arguing whether it will reverse or whether it will keep squeezing the bubble. I can’t really tell either. But honestly, at times like this I actually trust the data more—intuition is too easy to get thrown off by emotions in extreme market conditions, and the data at least gives me a discipline constraint.

Airdrops are the same. When I see projects that look exciting, I usually first work out the gas cost and the time cost. If the data doesn’t show real user support, even if it’s hot, I won’t hard-commit. I’ve already taken the loss from getting anti-farmed once—getting a few fewer is better than getting myself trapped for FOMO.