Hello loyal readers.
Today will be a brief post as I have spent a huge amount of time this weekend on boring~ish tasks that hopefully will pay off in the future.
Let me give you a quick insight into the life of Happy and how I try to operate in the crypto space.
My general mantra is something along the lines of, I can forgive myself for having a trade idea that goes badly, but I can never forgive myself for having a trade idea that goes well, but I was too lazy to execute it.
Anyway, here are some of the things I’ve worked on this weekend that hopefully pay off next week!
Pyth airdrop to Mad Lad stakers on their new app
Annoyingly, as I am from a country that chooses to protect its citizens from receiving free money rather than employ sensible regulation, I am prevented from joining the Backpack exchange.
To make up for not receiving free money, I’ve had a think about potential trade ideas that could take place.
There is a chance that Armani wants to make his exchange go viral. One of the ways to do that is to give the early users of the platform lots of free money.
Mad Lad stakers will receive the maximum allocation of Pyth tokens that launch on Monday; however, the maximum allocation size is unknown.
Most likely, this is an average amount, similar to the normal airdrop most Solana enjoyers will receive, and nothing massive to write home about. It may also be far less than this and also not worth writing about.
BUT.
On the very slim chance it is far higher than expected, there is a low-risk trade to be had.
That trade is simply having the adequate amount of Solana available to buy mad lads and the Tensor page open at the moment the drop is announced.
If the drop is sizeable, then I think it's more likely than not Mad Lads appreciate in price as everyone starts pondering what is next for them? Will the next token launch also give them huge amounts of free money?
So to prepare for this, I’ve noted down the times, set alarms and alerts, and have the adequate amount of liquid Sol free’d up ready to make this trade.
There's a 90% chance this never takes place, but being prepared always helps!
Tensor / Tensorians and bid points
Along the same lines as the previous trade, Tensor, I believe, is being hugely under-farmed relative to Blur.
This is more true now than ever as the Solana ecosystem picks up steam and continues to grow.
One way I’m focusing on this while trying to reduce risk is by bidding on Tensorians.
The logic here is that they are in the top 3 frequently for volume, so should provide good points, but once the Blur airdrop happens on Monday, it's likely NFT farming attention picks up again as people cope that they didn’t receive as much free money as their favorite Twitter engagement farmers.
Some of these people might just turn to Tensor, and Tensorians give you farming boosts for staking them.
Therefore, it’s possible these NFTs experience higher demand after Monday.
This is further aided by the fact that also on Monday lots of Solana users are about to receive thousands of dollars for free from the Pyth airdrop. So there is quite a nice tailwind here.
Of course, this is not financial advice. I'm barely risking anything doing this; it's a tiny, tiny, tiny percentage of my portfolio, and if you copy this, they will definitely go to zero, Tensor will rug, and everyone will lose their money.
I’m simply just explaining my thought process here!
Node Monkes and Bitcoin Ordinals
AAAAAAAAAA
Bitcoin Ordinals is currently one of my major focus areas. There isn’t a particular trade here I'm taking right now, but what I am doing is ensuring I fully understand how minting/trading/using Bitcoin wallets work.
Because I know for certain when Node Monke’s drops, or another hyped mint goes live, there will be hundreds of people across many discords asking which wallet to use, how much to spend for fees, how to do a Bitcoin transaction, etc.?
My job is to be three steps ahead of these people. Have an intricate knowledge of how the ecosystem works so when a SUPER hyped, hopefully free mint goes live, I’m not the one with my bitcoin stuck being sent over from Coinbase, and I’m away to the races minting as many as possible!
I honestly believe Ordinals will be the easiest place to make significant money over the coming months simply because the skill gap is so large.
If you can become a skilled operator in the ecosystem, you will have a HUGE advantage.
General preparation for Monday's airdrops
Tomorrow should be a good day! Both the Pyth and Blur season 2 airdrops are coming my way!
Pyth is a nice surprise, and Blur is the culmination of months of hard work. Hopefully, my thesis about listing points I wrote about earlier in the year pays off as that could be quite a nice return for me.
But anyway, my general preparation process here is to have a game plan for what I’ll be doing with the tokens after the drop takes place and then thinking more broadly about what the second order effects will be.
For Pyth, this is quite simple. Lots of Solana users will be given free money, so there is maybe a chance that stimmy cheque gets distributed across lots of other ecosystem tokens. So I’ve been thinking about which of these could maybe get a bid post Pyth.
For Blur, this is more complicated as I think it largely depends on which new features they launch. I’ll be trading this one likely in real-time as they unveil what's to come.
Other things of note:
Outside of this, I’ve been focusing on playing some crypto games; things like Cambria look pretty cool where you can stake your assets and fight other people to win their eth.
I’ve been keeping up with Friend Tech, buying a few keys in super active people who are in the trenches finding alpha. Despite the hatred Friend Tech gets, it has been super, super good for this and more than paid for the key price of some users simply from the trade ideas.
Generally keeping up to date with the space by increasing my intake of Crypto podcasts when I go for my runs.
Anyway, I hope this all makes sense. Apologies if it’s a bit rushed or not as humorous or engaging as usual; I have been so busy this weekend but wanted to let you all know what I’ve been doing.
As always, ignore everything you’ve read here; if you copy it, not only will you lose all your money you will also be cursed and maybe one of your arms will fall off.
Have a great Sunday evening and enjoy free money tomorrow hopefully!!!!