At the beginning of the year, I heard rumors that many projects would release chains in the future, and "releasing chains is as easy as releasing local dogs", but I didn't take it seriously.

It's a mess now. Not to mention the L2 sector, even the once glorious L1s are in a miserable state.

It's the cause that's put forward. It's not that I didn't get the information, but that I didn't have foresight?

➤ Can becoming a "KOL" make up for the information gap?

Thinking back to the core purpose of my choice to become a so-called "KOL": to make up for my lack of ability to obtain information. Is it really my lack of ability to obtain information that causes me to not make money? Or is there another reason?

During this period, I got some benefits from inscriptions and runes. However, these two narratives are so popular that early participation will not result in losses, even if you do not operate your own IP. You can feel the market atmosphere by browsing Twitter and mixing in the community.

I also received several NFT whitelist benefits, such as DBOX's Shark White (sold for 2,400 U), Space Nation (sold for 900 U), and several smaller benefits, each worth about a few dozen to a hundred U. Among these NFT benefits, high-value ones require good management of one's own IP to obtain, and low-value ones require getting familiar with some "big brothers who really give out benefits", being more active in their communities or Twitter, and participating in their draws, which occasionally give out U.

As for the recommendation of what coins to buy, I am miserable. Whether it is the second level or the first level, whether I lose or gain in the process, I lose in the end. This part is really a big cut, I am really afraid, even so, I still feel that I have not met a good big brother. 🤪

There are also some big brothers who teach people how to get airdrops. I participated, but I was exhausted. I didn’t get many airdrops, and the gas almost made me broke. Gradually, I gave up. I couldn’t figure out whether it was profitable. I got too much. I didn’t use Excel to record my operations, let alone get airdrops. After a long time, I even forgot the wallet address and the projects I got airdrops.

Facts have proved that becoming a "KOL" is indeed effective. During this period of time, I met/got to know some big brothers/cut, although they were profitable but not much, and it is far from making a lot of money through information.

➤ Maybe we just need to think more!

Next, I want to start reflecting, after all, I haven’t yet responded to the beginning of this article.

When I received the message that "launching a chain is as easy as launching a local dog", I couldn't agree more. After all, the narrative of the OP super chain had already taken shape, and what followed was the modular blockchain.

The popularity of chain issuance technology has led to people complaining about the fragmentation of Ethereum's liquidity. This affects not only Ethereum but the entire non-Bitcoin blockchain world.

When I received the news, I agreed. Why didn't I foresee the current situation? Was it caused by the news? I don't think so. There are two core reasons. One is the great consensus "2024-2025 bull market", and the other is that Bitcoin has reached a new high driven by inscriptions and Bitcoin ETF. This made me numb and I didn't think about the impact of the flourishing of chains on the Ethereum ecosystem, liquidity, altcoins, and users.

In the last bull market, I summarized two sentences. One was when I made 1.5 million yuan: "The bigger the cake, the more you get"; the other was when I lost 1.5 million yuan: "Follow the trend and go with the flow."

However, under the current circumstances, the cryptocurrency industry as a whole is violating these two sentences.

In terms of the cake, except for TON and Blink that can plunder users from outside the circle, Ethereum and other Layer1 and copycats have not seen any moves to make the cake bigger. They are nothing more than liquidity running around to get airdrops.

From the trend point of view, TON and Blink are good, and the BTC ecosystem is unsatisfactory, but it follows the Copy To Ethereum model. With Ethereum lying flat on its back, the Bitcoin ecosystem is also difficult.

So what can satisfy the two experiences I summarized after spending 3 million yuan in turnover?

That is TON and Blink. There is another trend that I am more concerned about, which is "full-chain L1 and cross-chain interoperability". Since liquidity has been fragmented, it is inevitable that the fragments will be brought together again.

I am focusing on Blink and the full-chain Layer1. I am not very interested in the TON ecosystem. I have been searching for several days but have not found any good projects.

Regarding Blink, I have a miscellaneous article The future and impact of Solana's new product Blink. If you are interested, you can take a look. There is no systematic summary of the entire chain Layer1 yet.

This article is from the #哈皮杂谈 series. The thoughts may be more jumpy and the imagination may be a bit far-fetched, but it contains a lot of my own thoughts and understandings.

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