ENA Reflections on Winning at the New Peak (6)

In this S3 airdrop, Guage got 2.9 million tokens, net profit of 3 million dollars.

Thanks to splitting into almost 200 accounts, only about 300,000 were locked.

It's been a peak battle after 4 years in the circle.

Let's share some thoughts:

1. To achieve significant gains this season, the two most critical actions are: one was buying yt in September last year and then going all in; the other was hedging in December to January.

2. In other words, the profits from arbitrage depend on two secondary operations. So what is the significance of arbitrage? It lies in the fact that in September last year, the price of yt corresponded to the cost of acquiring tokens at only half the market price, giving you enough of a safety cushion to go long; it was also during December to January that the price of yt was still only half the coin price, allowing you enough safety cushion to go short.

3. Another key point of arbitrage is that in December last year, Guage sought help from big players to hedge, using margin requirements, and paid the highest stablecoin interest in the entire market.

4. If the secondary judgment is correct, it can lead to huge profits; if the secondary judgment is wrong, there is still a safety net to ensure no losses, which is the advancement of arbitrage. This is how Guage hedged at 0.3 in September last year, suffered for a month being forced to unwind as prices were pulled up, and was eventually compelled to evolve.

5. The fundamental reason for the huge profits in S3 is that the coin price was pulled from 0.3 to 1.3, and currently, S4 does not expect this point. A legendary mine, a legendary person. The project has come to an end, and Guage has also gone offline.