丰密

🐝 Formula: cost + odds + risk + opportunities + strategy

The most recent example is that I applied this to a $BP that was being targeted by a large crowd—though I gave up on trying to farm this project very early (it’s a long story), it didn’t stop the trading. Even though the team running the project handled operations terribly, according to my calculations, they actually made money. After the token was issued, the FDV stayed in the 1.2–1.5 range long-term. With a 25% circulating supply, it’s roughly 3k–4k. From the perspective of cost and odds risk, that’s considered alpha. I’ll play next time too!

Any time, remember that you’re a fur-grabber.

Look at costs, odds, risk, opportunities, strategy,

Understand it: save it to favorites

Leverage: Find People, Find Money, Find Growth

Many project management teams and operations are actually too far from the market, usually only focusing on their own small area. When the market worsens, they start to act out, but it's not that there are no opportunities; it's that many ecosystems and project parties do not know how to leverage.

It is recommended that ecosystems and project parties who have not yet collaborated with WLFI @worldlibertyfi on USD1 talk to WLFI. The core idea is to take advantage of WLFI's current momentum in promoting USD1 and simultaneously boost their own business data. There are opportunities to increase user transaction volume, TVL, and activity together.

Now the scale of USD1 is already considerable: I checked DefiLlama, and among stablecoins, those with TVL exceeding 4 billion dollars are only USDT, USDC, USDS, USDe, DAI, and USD1. USD1 ranks 6th with a market cap of 4.4 billion dollars and has already expanded to 10 chains.

More importantly, it is still growing. For example, the supply of USD1 on the Solana chain was only 160 million dollars two months ago, but it has now reached 855 million dollars. The lending protocols in the ecosystem, such as Kamino, bonk, and Ray, have already provided support, and all metrics have seen significant growth. This shows that WLFI is not just a name; it is genuinely pushing resources, liquidity, and subsidies that are tangible.

After the cooperation between Aster Chain and WLFI in the past two weeks, they launched 16 spot and perpetual trading pairs directly upon going live. Trading with USD1 has significantly lower fees compared to USDT, with a transaction fee of only 0.5 bps for USD1, while USDT is 4 bps. The user experience is very direct, resulting in a trading volume of 2.7 billion dollars in the first week.

The most interesting and straightforward aspect of this type of collaboration is the win-win situation. On the surface, it is helping WLFI promote USD1, but in reality, it is also the project parties leveraging WLFI's subsidies for their own growth. To put it simply, it's about using others' money, attracting one's own users, creating one's own data, and promoting one's own business.

My advice is very straightforward: ecosystems/project parties that have not yet collaborated with WLFI on USD1 should reach out to them more. Because this is not just about adopting a stablecoin; it is about adopting a ready-made growth tool.

What project parties should really think about is how to find people, find money, and find growth, and how to create wealth effects. Instead of just thinking about how to sell tokens, how to harvest, and how to shift pressure onto users when the market worsens.

Users holding USD1 on Binance should pay attention to the timing, as the WLFI subsidy event for holding USD1 will end on March 20.

The total prize pool this time is 235 million WLFI, distributed over 4 weeks, with 58.75 million WLFI issued each week.

Recently, USD1 has already been able to participate in OPN new offerings. At this pace, it is very likely that new incentives and use cases will continue to be added for USD1, not just a one-time event. Undoubtedly, WLFI will continue to strengthen the use cases and holding expectations for USD1.

With no better investment options available, holding the subsidy and letting it earn interest

Binance has launched the 61st HODLer airdrop project @MidnightNtwrk, with the token being $NIGHT.

Airdrop eligibility statistics period: from February 16, 2026, to February 19,

Eligibility: Users who use BNB to subscribe for capital preservation earning coins / on-chain earning coins during this period are eligible for retrospective snapshot distribution.

Quantity: A total of 240 million NIGHT, accounting for 1% of the total supply.

From the perspective of the track, Midnight is also a privacy project, but its overall positioning is not just privacy; it also adds layers of gaming and application narrative, with its main ecosystem backed by Cardano. What concerns me more is that, with nearly 70% of the circulating supply, the market cap can still reach about 1.1 billion USD, which is quite worth pondering.

It naturally reminds one of the recent privacy projects Aztec and Zama. One has a financing of 120 million and a market cap of 240 million, while the other has a financing of 130 million and a market cap of 226 million.
😼

I find it quite strange; why does Midnight have a higher market cap?
Apart from the comprehensive factors like track, circulation, and market cap structure, I think there is another factor that cannot be ignored: people, or rather the team itself.

For example, I checked public information and saw its founder Charles Hoskinson @IOHK_Charles. He participated in founding Ethereum, and later led the founding of Cardano.

A person who has created Ethereum and another who has created Cardano telling the story of a privacy chain naturally earns a premium in the market and raises expectations.

I personally have not used their products, so I cannot draw any particularly practical conclusions.

But it gives me an insight:
Do not just look at what a person says; look at what this person does.
If you must add a judgment factor, perhaps look at what this person has done in the past.

This may also apply to our future participation in projects and judgment of a person.
Historical achievements themselves are a form of credit,
Past experiences are a form of premium.

Random writing and speaking are not wide.

In these years of being in the circle, I still like the feeling of being ignited by a flame.

One is like the myth of shib and pepe skyrocketing thousands of times in a few months,
The other is like Arb, a billion-dollar airdrop big cake.

I also understand more clearly: the essence of this world is a huge makeshift stage.
Every class earns money within its own cognitive range.

I know that the assets in this world are essentially a huge bubble.
The difference is merely when you enter the market and when you exit.
No one wants to take the last baton,
But the last baton must be taken; someone has to foot the bill for the feast.
We just hope it lasts long enough, is attractive enough,
And touches the heartstrings enough to make people willing to spend lavishly.

As someone who doesn't understand code, I initially found the crypto circle sufficiently sexy; there's no need to understand the underlying technology, just understand human nature, emotions, narratives, and the flow of funds. I have always believed that making money with one's cognitive skills is often a natural outcome. Many times, I actually wish it could be slower because I need to race against time.

And now, looking at AI, I feel like a headless fly.
I know it's good, and I know it's 100% the future, but I really don't know how to use it well.
What's even scarier is: I even worry that the more I understand, the more anxious I become.

I don't know how to describe this feeling; it reminds me of when I was hiking in HK, and the thick teacher mentioned the term: "intellectual equality." This term has echoed in my mind countless times.
For many people, it is also a heavy blow.
The cognitive advantages you relied on for your livelihood are being rapidly leveled.

This is my anxiety. I wonder how the teachers see it?

WLFI Key points from two announcements
1. Collaborating with Apex Group to bring USD1 into the tokenized fund's capital flow.
This collaboration is considered a compliance pilot of traditional fund backend + stablecoin settlement, with the core being to implant USD1 into real institutional-level capital flow.

2. WLFI's first RWA sample: Tokenizing the loan rights of the Maldives Trump International Hotel Resort in collaboration with Securitize + DarGlobal.

Looking at it as a whole, the main narrative WLFI is working on is to let stablecoins not only stay on exchanges/DeFi but enter the operational pipelines of traditional asset management. Additionally, it involves compliant RWA issuance, opening up asset tokenization.

Behind a social activity is a whole set of resources being gathered and endorsed, which is the underlying capability that can directly crush most models in the crypto space.

For us common folks, we just enjoy the project subsidies and watch the big players perform. $$WLFI

Aptos announces updates and adjustments
$APT token economics
In a nutshell, it means a shift from an inflation subsidy model to a network usage-driven model, with the ultimate goal of destroying the amount > emission, allowing the APT token to enter a deflationary phase and achieve true scarcity.

Key changes:
1. Staking annual rewards reduced: staking rewards down from about 5.19% to 2.6%
2. Establishing a long-term supply hard cap: total limit of 2.1 billion tokens
3. The foundation permanently locks and stakes 210 million APT,
4. All Gas fees are paid in APT and permanently destroyed, boosting demand-side deflation.
5. Gas fees increased (about 10 times), but still the lowest fees on the entire network.
6. Incentives/Grants are linked to KPIs.
7. It was mentioned that programmatic buybacks will be initiated.

In the past year, the price of APT has dropped significantly. This update to the token economics seems more like releasing APT from a high-inflation + unlocking suppression valuation framework, with the supply side first stopping the bleeding, and the demand side using transaction fees to burn and convert network usage into quantifiable buying and deflation logic, while binding incentives to KPIs, attempting to drive network growth through the scaling of core applications like decibel and shelby.

However, to sustain price increases, the variables go beyond the mechanism itself; whether on-chain applications can truly scale, whether fees and burns can build a sustainable real demand curve, and whether the ecosystem has a continuous wealth effect and capital flow back… these are the determinants of long-term trends.

Aptos has many historical issues. Fortunately, the team has not given up, and sometimes one must break to rebuild.

At the same time, I want to say that the Aptos team has long lacked a down-to-earth perspective; what they talk about and promote are high-level strategies that don’t seem to have clear effects in practice. For the token adjustments to truly take effect, the market must see three things: determination, transparency, and fulfillment. I feel this time the adjustments could be sharper and more direct.

The Aptos team is core to the Meta system, with a very strong technical foundation, a world-class team, and a team willing to correct mistakes. A powerful team will definitely not stop, but there are also obvious shortcomings, such as productization, building the ecosystem, and creating wealth effects, which feel too Web 2.0. I hope this structural repair marks a good start.

I sincerely want to tell the team to focus more on the ecosystem's wealth effect and on the price of the token, to enhance the token price.

Many people ask me what I can still do now?

The hardest thing now is not to attack, but to defend.
Recently, there haven't been many good projects worth particularly taking action on,
every time I take action, it feels like panning for gold in dung.

Now, for every project I participate in, I first make myself answer four questions:
1. Why do I want to participate in this game?
2. How much should I bet?
3. Is my current cost and risk the most comfortable for me?
4. In this game, do I have a way to make my cost the lowest and my odds the highest?

If I can't figure it out, I'll just pretend I didn't see it.

The stablecoin sector seems to have a fixed pattern, but in reality, the giants are still at work, and the battle has just begun.
When the market cap of USD1 reached 5 billion, they immediately launched the USD1 points program, offering 12 million WLFI tokens as rewards for a month-long event, worth about 2 million USD.

1. You need to click to participate in the registration on the event page: https://binance.com/zh-CN/activity/trading-competition/spot-usd1-trading-competition-campaign-r3-1

2. Trading range: Binance spot designated USD1 trading pairs,
The cumulative trading amount in spot must reach at least the equivalent of 500 USD, and the eligible trading pairs include not only BTC and ETH but also ASTER, WLFI, etc.

3. The operational points we can execute: Hold USD1, and trade using USD1.

4. @worldlibertyfi is currently enhancing adoption through a series of activities, focusing on scenarios, depth, availability, and continuous subsidies, all with a clear agenda. Especially with Binance's distribution, combined with an annualized WLFI reward of around 20%, the market can easily form a more direct consensus, making it more satisfying to hold USD1 than USDT.

The current actions of WLFI are also very clear: Binance events (holding USD1 will share 40 million USD in WLFI), platforms like Buidlpad making USD1 the default option, and continuously increasing depth and transactions on the trading side (for example, Aster, or the weekly 200,000 USD reward competition for BONK).

Focusing on trading to develop real demand users, it is highly likely that future new launches will also use USD1, and it is certain that WLFI has a complete set of market strategies. With such a strong background, their ambitions cannot be small, and they cannot settle for being a subordinate.

On Tether's side, on January 27, they officially announced the launch of USA₮ (USAT), which is a stablecoin subject to federal regulation, supported by the dollar, specifically for the U.S. market, operating under the federal framework stipulated by the GENIUS Act. Tether will have two stablecoins: USDT (dominating the global offshore market) + USAT (focusing on the U.S. compliant market).

I believe that the next 12–18 months will likely be the last window period for the stablecoin sector, where victory depends not only on compliance but also on the strength of distribution channels and the endurance of subsidies. To be honest, I really hope they continue to ramp up subsidies in a fierce manner; the longer and more intense the stablecoin war, the more we retail investors can benefit.

For some projects, whether to pursue or not

Personally, this is how I think:
Concentrate on understanding a few projects thoroughly,
either very early-stage or where I can concentrate my advantageous resources to secure a position.
The odds and probabilities are high enough, and the costs are low enough.

To love only one person for a lifetime is very difficult; having 10 or 8 in a year is enough.
Rather than chasing a hundred uncertainties, it is better to bet on ten that can be understood, thoroughly grasped, and firmly believed to achieve certainty.

When young, we all understand this principle, right?

Friends who are losing money, are you tired lately?
Isn't it cool to drive a Ferrari with one hand?

But that's life, the people who doubted you last year still doubt you this year.

When you feel like you can't go on, just think,

If those idiots can do it, why can't I!

Recently, don't ever say you're part of the cryptocurrency world.

Anyone who knows you are involved in the 'cryptocurrency circle'
will give you strange looks.

In your circle, there are scams, kissing,
it's not just about not making money, but also losing it and looking foolish.

What are you really aiming for?

When I first entered the circle, I bought $ICP
Then I downloaded their app
It's extremely difficult to use,
But I gritted my teeth and used it anyway.
When I heard that amazing narrative, the awesome label (next-generation computing)
I directly staked for 4 years, and it fell for 4 years.
Recently, they started with AI narratives, and discussions are increasing more and more.

You ask me how deep my love is,
Perhaps, the moon cannot represent my heart.

From this money-losing incident, I have probably learned:
1. If you have money, if there is a wealth effect, then nothing is a problem; the same applies to some tools, infrastructure, ecology; everyone will grit their teeth and still praise you as amazing. It seems to be the same in real life.

2. Don't treat locking up funds as love; you should cut losses when necessary, but you must experience heart-wrenching pain. You may lose here, but other places will compensate for you; don't be disheartened!

3. The market only rewards the right people, at the right time, with the right exit. It's a game, a dream; you and I are all gamblers, you and I are all chips.

“How many people are there in your studio?"
"How many people are there in your team?"

Many people ask me this question when they see Feng Mi. In fact, I have replied many times that I am just one person with several computers. My principle is to maintain high quality manually, and of course, I have quite a few accounts.

Basic necessary conditions for participating in WEB3 interaction are:

1. Two hands
2. Some money, some accounts, some computers
3. More persistence, thinking, and effort...
4. No technology, no IP, no environment...

Doing simple things repeatedly and persisting in doing repetitive things.

When you start to do well, you will achieve some results and then move on to the next level, cutting through thorns and encountering Buddha to kill Buddha, mastering your own life,

You will find that you don't need to go to work because you are working every day.

You will find that you don't need an alarm clock because being broke is the alarm clock.

All women please cherish those men who still hold ETH.

They have seen the highs without being swayed, and they don’t let go even when it falls to the bottom.
It is not out of greed, but out of faith.
Such people, once they have determined their direction, are hard to shake.
They treat ETH this way, and they treat love the same!

#ETH

ETH was almost down to 2000 yesterday,

"I bought in at 3300 long ago," one big brother in the group jumped out first to comfort himself,

Another big sister wouldn't back down, shouting: I got in at 3900.

You say one thing, I say another, and it all started like a chain reaction.

They are all good people, one kinder than the other,
Kindly handing over one blade after another,
Afraid that we, the cat lovers, won't feel pain.

In the past few months, every group has been the same, using e for a chain reaction, afraid to look but also afraid to miss any opportunities.

Wang Jianlin: e has nothing
He Bibi: e goes deep into feelings
………..

Should we return to our hometown to start a business and promote the毛产业 to drive rural employment?

Verifying faces, scoring deposits, completing task points, no pollution, no energy consumption, no emissions, driving employment in our rural areas!
With families as units and villages as battlefields, this original high-quality industrial development route, should this entrepreneurship be considered a green industry?

In the past few years, we have been collecting airdrops on the chain, relying on interaction, forming real users, and predicting who will issue tokens and when.

But most of the time, we are actually playing a game with an "unknown system" that has no rules, no logic, and ultimately depends on the conscience and pattern of the team.

Now, exchanges have directly turned asset distribution into a productized issuance platform, and project parties are also willing to allocate a large number of tokens to engage (with clear participation logic). This actually reflects a reality,
For project parties, this is a game of resource allocation, and the distribution methods for issuing tokens to on-chain users and exchange users are completely different.

For users, we are beginning to see the "asset issuance rights" shift from protocols to platforms and traffic ends,

Whether this is good or bad mainly depends on the type of "user"; for someone like me who is a kuigas type, it is definitely a bad thing! For exchange users, it is a good thing, and it’s difficult to draw a conclusion as everyone has different perspectives.

This well-known bellyband NFT (Doodles) that has been on CCTV is finally about to issue tokens (TGE). I once accompanied it through ups and downs, buying and selling NFTs, crowdfunding... step by step, watching it grow, and after countless selections, I finally turned into a leftover woman.
Just like a goddess I have accompanied for many years, she is finally going to marry someone else and have children.

Youth has come to this point, and the era of NFTs has ended.

With a glimmer in my eyes, I mutter: who hasn’t been young before?

Everyone is a KOL

In this age of flattened information and infinite amplification, everyone has the potential to be influential.
Those who can make money are Alpha1,
Those who can help others make money are Alpha2,
And those who continuously upgrade their understanding, execute investments, and ultimately achieve results are what we call top Alpha.

However, not everyone wants to be a KOL who helps others make money. Value output has always had different dimensions. Some provide 'knowledge power', some provide 'hardcore technology', some build 'trust', some are 'capital spokespersons', and some are true 'guides'.

Every month, I engage in deep conversations with some extremely strong individuals, whether seeking help, discussing projects, or exploring investment opportunities.
In this process, I believe:
They are all KOLs, just in a way that is not defined by 'traffic', quietly 'helping others'.
For instance, the scientists from Nillion who helped me this time, it was their data that made a difference.

So, don't let the number of fans, blue checks, or traffic bubbles define who you are.
What truly matters is whether you can create results, convey influence, lead the rhythm, and change the direction!

In Web3, we are all spectators,
You think you are on the bridge enjoying the scenery,
Little do you know, you have already become a part of the scenery.