[Why didn't I participate in $SOON? — Summary of profit-seeking diary]
Recently, CZ posted a tweet about SOON, seemingly indicating that the project's winning odds have significantly increased. However, I am aware of my limited understanding and may not be able to profit from it. I will simply note why I decided not to deeply participate in this project.
Of course, the recent zero-cost activities of SOON are still worth a simple participation, after all, there is no cost.
🔹 1. Joanna Zeng is the co-founder and CEO of SOON, previously the Vice President of Aleo, and I am cautious about Aleo's project landscape.
Those familiar with the profit-seeking community know that Aleo's landscape is not very good, and SOON's CEO previously served as Aleo's Vice President. This background naturally makes me more cautious and directly lowers my priority for this project.
🔹 2. The cost of NFT activities is too high, discouraging participation with multiple accounts.
The cost for a single account to participate in SOON's NFT activity is as high as 640U, which is really too high for profit-seekers, especially for those operating multiple accounts. Coupled with the uncertainty of airdrop returns, I believe this investment's risk-reward ratio is not favorable.
🔹 3. Direct competition with Solana and SVM Rollup, lacking differentiation.
Technically, SOON is facing intense competition from Solana and other SVM Rollups, but currently, no significant ecological or technological differentiation advantages are visible. Standing out in such a crowded field (which I am not very optimistic about) is indeed very difficult, and personally, I am more inclined to wait and see.
🔹 4. The testnet scripts are rampant, addresses are exploding, and there is a lack of in-depth perspectives.
SOON's testnet accounts are too numerous, and scripts are everywhere (it is said that scientists can achieve 1000 tx daily with one account through scripts, with only 3R costs). For ordinary people looking to take advantage, there is almost no advantage. Moreover, the testnet phase also lacks interactive points worthy of in-depth exploration, making it hard to find angles for profit.
🔹 5. Over-marketing the activity, suspected of being a 'wide child' project.
Every time SOON has an activity, I see many KOLs unanimously promoting it, which instinctively makes me wary. Such projects are often not friendly to on-chain interactions.
🚨 In summary, although SOON seems to have good potential, considering the points above, I still choose to give up deep participation. I hope that those who have already bought NFTs can make a fortune!💰🚀
. @soon_svm #SOONISTHEREDPILL