Binance Queen He Yi said: The era of Lumao may be over! In fact, Lumao has been upgraded. Lumao is no longer a slave miner. Now it has become the scissor hand that controls the price of coins and the longevity of projects. Projects also have to have relationships with Lumao!
He Yi said: "2017 was the ICO era, and you could make money as long as you grabbed a share. In 2021, on-chain meme rose, and you could make money as long as you ran fast. Buying new instead of old was also a typical feature of this period. But now IEO compliance in most countries is generally considered to have legal risks, so it can only be airdropped and market-priced, which means that if the circulation volume is large and the opening price is low, the project will perform relatively steadily, such as BB and LISTA, but compared with 21 years, it still rose too fast and lacked sufficient washing process.
The rise in 2024 was initiated by BTC ETF. The king-level projects and LuMao Studio worked together to create a wave of beautiful data. On the one hand, the project parties can raise more money from VCs. On the other hand, the project parties with money and users are full of confidence. There are millions of users on the chain. It doesn’t matter if they don’t go on a certain platform. There are many CEXs to go on. If CEX doesn’t go on, there are DEXs. At worst, there are native DEXs on their own chains. Trading platforms do not have pricing power, so for projects with high valuations, users need to look at the fundamentals, not just the market value, but also the circulation volume.
Today, the internal fighting between LuMao Studio and L2 project has turned into a farce, and the LuMao era may be coming to an end. As an ordinary investor, the ICO in 2017, the IEO and nesting dolls in 2021, or even the LuMao strategy in 2023 may not be suitable for today's market. "
In the past four years, the "money-making" industry in the crypto has developed rapidly and its scale has become larger and larger, from individual development to studios and companies, becoming an important part of the cryptocurrency industry. As the market becomes crowded, the profits of the money-making industry are becoming more and more considerable, and there are many examples of people getting rich through money-making, and the returns are even higher than those from cryptocurrency speculation.
However, cryptocurrencies undergo cyclical changes every four years, and the wool-pulling industry, which has now gone through a cycle, has begun to face challenges: the benefits given to wool-pullers by project parties are no longer as generous as in the early days, there are more and more conditions, and the costs and benefits are not proportional.
Especially the recent superstar projects, such as zksyne and layerzero, have brought very little benefits to the traders. The time and money costs are completely disproportionate to the benefits . I wonder if the traders’ industry will start to decline this year.
The coin-squeezing industry originated from the Uniswap airdrop event in 2020. As the world's largest decentralized exchange, all addresses that had interacted with the platform before September 1, 2020 were eligible, and each address received at least 400 UNI tokens. Later, by the beginning of 2021, the value of these 400 UNI tokens once rose to about $12,000.
Through this Uniswap airdrop event, everyone began to realize the importance of multiple accounts and batch addresses, which is also the essence of Airdrop Hunting . In the world of the crypto chain, there is no KYC (identity verification), and a person can have countless addresses, and use these addresses to earn more income. It is precisely because of this that wool pulling has become a relatively stable and high-yield method, which is more certain than speculating in coins.
Since Uniswap came out, people have been involved in the craze of "薅羊毛". In those years, everyone became a "薅羊毛党", and everyone had dozens or even hundreds of wallet addresses, all wanting to copy the "薅羊毛快富" of UNI.
2021 and 2022 are the golden years for "wool-pulling parties". The wave of crypto airdrops has made a group of newcomers rich. dYdX and Ethereum Domain Name System (ENS) carried out large-scale airdrops in September and November 2021, respectively. The success of these projects has created many legendary stories of getting rich overnight. For example, a college student received 46,000 ENS tokens directly for his contribution to ENS, which was equivalent to more than 620,000 US dollars at the price of $13.63 per token at the time.
Among the past few batches of freed “wool-pulling” studios, the most common “origins” were Uniswap, dYdX, and ENS.
However, with the advent of the crypto bear market, the number and size of airdrops began to decrease. During the bear market, many "wool-pulling" studios could only barely survive on the token shares unlocked each month, but most studios were not so lucky and disappeared from the crypto.
It was not until 2023 that some major projects launched tokens (such as Arbitrum (ARB), Celestia (TIA) and Blur), and some studios survived the previous "winter" and ushered in a brief recovery.
With the development over the years, those "Airdrop Hunting" studios have also experienced a lot of tests and competition, and those that remain have become very mature.
This year may be the most glorious year for the "Airdrop Hunting" studio after 2020.
With the approval of the Bitcoin ETF, the price of Bitcoin has exceeded $72,000, setting a new record high. The arrival of the bull market has also led more projects to choose to issue coins, and has also revitalized the "Airdrop Hunting" studio. In recent months, well-known projects such as Merlin, Unisat, ionet and ZKsync have also issued coins one after another. Although the market value is slightly inferior to the airdrops in previous years, these airdrop projects still attracted widespread attention.
Unlike the past, the "Airdrop Hunting" industry has also experienced many changes and new challenges. Now, this industry is more competitive, professional and commercial than before. The threshold for newcomers to enter this industry is getting higher and higher, and the competition is getting more and more fierce. In the past, "Airdrop Hunting" was a place where every grassroots hero could make a living, but now it is more like a high-threshold commercial game.
Although many people hate insider trading and think that all good projects should be distributed to real users, the reason why Lumao has excess profits is essentially because of the existence of insider trading . If there is no insider trading, it is absolutely impossible for the project party and even the investors behind it to distribute such lucrative profits in the form of airdrops. "Objectively speaking, it is actually the investment institutions and project parties who are eating meat, and Lumao people who are drinking soup in the back, but there are often some meat scraps falling into the soup." In order to deal with the screening rules of the project party, users also need to think in reverse.
Pluck is like fishing, the waiting time is always the longest. The process of pluck requires not only skills, but also patience and determination. "The most suitable person for pluck is actually a person who can keep calm. Such a person can go further."
The survival time of the wool-pulling industry depends on market trends. The bear market is like the season of cultivation, and the bull market is the time of harvest. The crypto industry is still in its early stages, which means that the wool-pulling industry may have a longer lifespan. However, as competition intensifies, whether or not the "art of wool-pulling" can be found will become the key to success or failure.
The crypto industry is gradually moving towards the "28 rule" , where only 20% of people make money. How to become the 20% who make money is a huge challenge facing all the cryptocurrency traders. For them, this is not just a game about technology and strategy, but also a business field about wisdom and patience.
