Profiting in the midst of chaos
This month has been an absolute rollercoaster, with the Silicon Valley Bank issue leaving me with very little spare time to devote to my writing. Finding time to write has been difficult due to work commitments, personal responsibilities, and unforeseen circumstances. I haven’t forgotten about my writing commitment, and I’m working hard to find time to generate the content that I’m happy to share with you.
As we “march” into the month of April, it’s a good moment to reflect on everything that has happened in the previous few weeks. Everyone of us has a unique tale to share, ranging from global events to personal experiences. Let’s take a look back at the month of March.
The Fed announced at the start of the month that they intended to keep interest rates higher for longer, signaling concerns about inflation. This announcement prompted some market risk-aversion. Soon afterwards, another big occurrence happened, which was the Silicon Valley Bank banking meltdown.
This bank crisis has led to the depegging of USDC for a few days. During this time, Bitcoin and Ethereum tanked and then surged like a rocket ship.
As if the Silicon Valley Bank situation wasn’t bad enough, another big bank, Credit Suisse implodes. This disaster has once again exposed the banking sector’s vulnerability and the need for an alternative trustless system such as DeFi.
There are now concerns that Deutsche Bank may fail as the Fed continues to flex its muscles. Several analysts also predict a commercial real estate catastrophe. This might result in a flood of defaults and bankruptcies, intensifying the banking disaster. Only time will tell how these events play out and what the overall impact will be on the economy and society. We can only wait and see how these events play out.
The following are my opinion and I hope it will give you some insight, it’s probably nothing.
It is important to be informed on what is going on around us. We should, however, avoid becoming too engrossed in the “doomsday porn” that dominates the news cycle. It is exhausting to focus entirely on bad and distressing news, which can lead to feelings of anxiety and hopelessness.
While the aforementioned events have clearly cast a gloom over the month, there are also things to be happy for and optimistic about.
The continuous innovation and development of artificial intelligence, namely GPT-4 and ChatGPT plugins, is completely on fire. I can’t imagine what its potential might be like with a few updates and the help of a decentralized pool of developers.
Additionally, the recent Arbitrum airdrop is similar to winning a mini lottery. Although hardly a life-changing amount of money, the airdrop serves as a reminder that we can still profit even in the midst of chaos. Arbitrum’s airdrop reminded me of DeFi’s summer 2021, when liquidity mining incentives were practically everywhere and the yields were juicy AF.
A crypto airdrop is a marketing strategy used by a protocol to promote their project and incentivize early adopters by distributing free tokens to potential users. In order to be eligible for the airdrop, users must perform certain tasks or satisfy certain conditions. Airdrops are a common approach for protocols to generate interest in their projects and attract new users, while also allowing users to participate and be part of the project and perhaps benefit if the tokens grow in value.
While there are many uncontrolled events that might affect our lives and investments, we should focus on what we can control. Participating in airdrops can provide an opportunity to profit.
Of course, we must keep in mind that airdrops have their own set of risks and uncertainties, and we should never invest more than we can afford to lose. But nevertheless, by controlling our emotions and focusing on what we can control, we can perhaps survive and thrive in even the most difficult market conditions.
As a result, I’ll be getting my hands dirty and going to the field to prepare the ground and sow the seeds in preparation for an Airdrop summer 2023. Fingers crossed that it will be as good as, if not better than, Arbitrum. In the next months, I plan to spend more time exploring this field. If you’re looking for the best airdrops, check out the link below:
https://twitter.com/milesdeutscher/status/1639030835478409216?s=46&t=jVSVsk9kH4g92puFJkIbuw
Separately, I have created a template on airdrops that I will be working on. The template include tasks that I deemed to be the most efficient way to be eligible for the airdrop (i.e. good enough to be eligible for some airdrop, you just need to do it with multiple addresses to increase your profit).
For example: Estimated average airdrop received per network is $3,000 x 3 network x 5 wallet address = $45,000
Please use my template at your own risk. If you are interested, please see the following link:
https://docs.google.com/spreadsheets/d/1v-D6ktwqbhBii4s9Gb5PTvW8y2ZFRiA5ZpD0-GDxKrw/edit?usp=sharing
Thanks for reading, please follow me if you enjoy the way I write and stay tuned for more crypto & DeFi content!
Free crypto & stocks along with recommendations to kickstart your journey: https://docs.google.com/spreadsheets/d/1f2bX-xKvmEzOrxDZqAvgCkIna1pmE_uI9pa_C4l4-DM/edit?usp=sharing
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