很大很大的橙子

Fragility is being hurt by volatility, resilience is not being hurt by volatility, and antifragility is gaining from volatility.
I recently re-read Taleb's antifragility. If you put "hoarding coins" in what the book says, it is completely consistent. "Contracts" are fragile and cannot withstand volatility, while "hoarding coins" is antifragile, allowing you to pick up lower chips every time during large fluctuations.
Interestingly, KOLs are also antifragile. The more people who criticize him, the more popular he becomes.
The antifragility of the system depends on the fragility of individuals. In this wave of big drops, the most people bet on ETH's rise because of ETFs. At the same time, this wave of people is also the most fragile (double leverage is liquidated), which also led to the most severe drop in ETH in this wave.
The highest level of anti-fragility is to have anti-fragility. You can understand it as spot selection of coins and hoarding, contracts are to control positions, and the difficulty of copycat is hell-level. Most people who enter this circle only see cases of getting rich by playing memes, but not playing memes and inscriptions. The probability of loss is 80%+. The only people who make money are probably the project parties that issue coins, or the group leaders of CX groups. Similarly, the leeks who play memes are also the most vulnerable.
Many people know the legendary trader hedeng in the currency circle. His philosophy is to always stand on the opposite side of fragility, which also means anti-fragility (position management).
There is no theme, just casually share my recent experience.

This market is quite interesting; neither short sellers nor long buyers have made any money...

Spark (SPK) - Binance HODLer Airdrop Phase 23 Project

Project Introduction:
Backed by the Sky ecosystem and the original MakerDAO core team, Spark is an on-chain capital allocation tool that utilizes Sky's over $6.5 billion stablecoin reserves to deploy $3.5 billion in DeFi, CeFi, and RWA sectors to provide liquidity and enhance capital efficiency. Its earnings are packaged into products like sUSDS and sUSDC, allowing users to earn returns (average annualized 5%).

Project Ecosystem: As of June 18, 2025, TVL $3.5 billion stablecoins, protocol annual revenue $170 million:
SparkLend Lending: TVL $3.4 billion, stablecoin lending market.
Spark Savings: TVL $3.2 billion, automatically earning returns by converting stablecoins like USDC and USDS, as well as the upcoming USDT, into yield-generating sUSDS or sUSDC. USDS is deposited into Sky Savings Rate (SSR), USDC is exchanged for USDS through Sky's PSM and also deposited into SSR, and DAI is deposited into Dai Savings Rate (DSR).
Spark Liquidity Layer (SLL): A backend capital allocator, it is the core engine of the protocol, a cross-chain system that automatically rebalances stablecoin liquidity to optimize yield generation. It can integrate and route liquidity between platforms such as Aave, Morpho, Curve, and tokenized RWA platforms.

$SPK Token Features:
Governance: SPK token holders can vote on network governance decisions.
Staking: SPK can be restaked through Symbiotic to earn Spark points, thereby supporting and securing the Spark ecosystem.

Token Economics:
Maximum total supply of 10 billion tokens, distributed over 10 years, of which:

65% allocated to Sky mining users, distributed through Sky farming, released over 10 years.
23% allocated to the ecosystem for airdrops and incentives for protocol growth; of which 17% is in circulation at TGE, and another 6% is released after one year.
12% allocated to the team, with 25% released within one year, and the remaining 75% released over three years.
The circulating supply at Binance launch is 17%, approximately 1.7 billion tokens:
Airdrop (including Binance HODLer 2%): 1.7 billion tokens;

Team and Investors:
The project was established in 2023.

Project Roadmap:
Q3 2025:
Spark Liquidity Layer expands to BSC, Ink, Polygon PoS, Kaia, and Avalanche.
SLL integrates Morpho V2, USDT0, Uniswap, Aerodrome/Velodrome, and supports OTC/exchanges.
USDS staking module.

Q4 2025:
Bitcoin L2 expansion.
Secret Project 1.

H1 2026:
Secret Project 2.

Token Distribution Timeline [Image 1]
Sky Farming (65% of total released over 10 years) Distribution Timeline [Image 2]

Several teachers in the group said they would drop a nuclear bomb tonight. Is the news reliable? Waiting for an answer online, urgent!

Antalpha is interesting, a golden version of micro-strategy, but its business is in the Crypto sector.

KOGE really cashed out a lot...

Bybit suffered losses exceeding $60 million in the $ZKJ crash event, becoming the biggest victim and the counterparty harvested by the project party. Bybit is currently the largest known loser in the ZKJ/KOGE crash event. Bybit's insurance fund decreased from $407 million to $346 million in the update from June 15 to 16, a reduction of about $60 million.

Everyone thought that the war would cause Bitcoin to plummet, but...

Trump is not joking...

He said everyone needs to evacuate Tehran...

Don't say that Trump argues with trolls in the same style as me, haha.

In addition to the 'sick mom, stroke dad, and school-going younger brother', there is now also a 'boyfriend who plays Alpha'

The price on BSC is double that on the ETH chain, and Binance's own ZKJ contract is surprisingly tied to the ETH chain...

After all this, it turns out that the ZKJ on Alpha is actually a standalone coin, which indirectly indicates that the initial LP on BSC is provided by the team's own coins. The first wave of dumping targeted the BSC, and then some people followed by dumping on Bybit, causing the contract to crash, which in turn led to a crash in the ETH chain's spot market...

After all this, the ZKJ on BSC is a standalone coin; this world is truly a makeshift stage...

I predict that ZKJ might start arguing with KOGE and the old man Ian soon. (Pure speculation, no hearsay)

This crash is essentially KOGE's crash, ZKJ is just the one holding the gun. The KOGE team and the BNB48 behind them have been thinking about ways to exit; this is a long-dead project. Isn't it a coincidence that Binance really came up with such a clever method of forming LPs to earn points? And coincidentally, as soon as the method came out, many KOLs started saying that forming LPs has low wear and high APY on transaction fees. It's true, you really don't dare to think too deeply about it. Binance is so big now, and there are many people responsible for products; you can't even imagine the twists and turns inside.

I think the most important thing for Binance right now is to make Aster successful, and what Aster needs to do is very clear: to stack liquidity, allowing large holders to open positions of hundreds of millions of dollars with very low slippage. As long as this can be achieved, it will be enough.

If the mechanism does not change, the plot behind Binance Alpha should be:

No one dares to be an LP → → → → The wear and tear of those who grind for points increases → → → → Originally, people earned a little spending money each month, but now they may not earn anything and may even lose money → → → → The 'shearing studios' gradually go bankrupt → → → → The competition decreases, the requirements for obtaining airdrop points lower, and grinding points and obtaining airdrops enter a new balance range.

However, one thing is undoubtedly clear: the future profit effect will definitely decrease, because everyone has seen through it.

But if the mechanism is to change, how can it change? From a product manager's perspective, I can't think of any good mechanisms, and in the end, I feel that Alpha is meaningless...

The university students said that the Alpha group team guarantees compensation, so you just ask if they compensated or not.

I've heard that Ian has over a million BNB and is financially free for several lifetimes. Yet, such a person still wants to launch projects and exploit others. Indeed, money is never too much.

I think it's understandable that KOGE and ZKJ are dumping. It's a once-in-a-lifetime liquidity opportunity; if one is dumped, the other projects will definitely run for it. They didn't dump before just to farm, to see how big the fish pond could get. Don't blame them; if I were the project party, I would dump too. This kind of liquidity opportunity is rare in a lifetime. Those who lose money as LPs can only blame themselves for being foolish and deserve to be exploited.

I said it long ago, whoever acts as an LP is a fool, providing liquidity to the project parties.

Alpha, remember not to engage in LPs; no matter how high the APY seems, do not participate. Just focus on trading volume and collecting airdrops. APY is all a lie; these long-standing projects are presenting a once-in-a-lifetime liquidity opportunity. Are you the project party who will ultimately sell? Once this village passes, there won't be this shop again; it's a lifetime opportunity. If it were me, I would also look for a day to sell at this opportunity, just depending on how much to cut.

I really want to get to know this brother, the first place in the Binance contract league. During the competition, he made profits through ETH (Ethereum) contract trading, with a single profit amount reaching approximately fifty million yuan.

Being able to handle Ethereum so well is not something ordinary people can do. I might not be able to participate in this competition due to regional compliance reasons in Singapore, but I will try to use a VPN next time.