The truth about Friend Tech 👇
This is coming from a guy who farmed Blur Season 1 when nobody else was talking about it.
👉 Blur Season 1 & Friend Tech comparison
I see many people comparing these two. "This airdrop will be even greater, just look at the Total Value Locked".
Yes, the TVL is currently up only and very impressive at $32M.
Many people are misinterpreting this as a bullish signal for the airdrop, which is completely incorrect.
Why was Blur S1 so profitable? Their market share was massive, but nobody was farming the airdrop, thus all the tokens were distributed to the few people who did.
But everyone is farming the Friend Tech airdrop, so your own share of it will be much smaller. The FT airdrop will not be worth 10x your portfolio value.
👉 Is it worth farming the airdrop?
Absolutely! I think this is still a very solid asymmetric bet, but you have to keep some things in mind:
FT is incentivizing a buy-and-hold strategy. That was the main driver for the spike in TVL and key prices this week and this pump is not organic at all.
They will keep incentivizing this and probably also implement 2x points and other strategies later down the road.
Just be careful, because a market crash is very likely at some point. But this will not be the end for FT and I will probably use this as a buying opportunity.
👉 What is the best strategy?
Your primary goal should be to earn some ETH, with the airdrop serving as a nice bonus. Optimizing for the airdrop will result in bag-holding and losing money.
3,3 is one of the worst strategies. But I will talk about this and other strategies soon.
Cheers 🍻