I’m a pretty busy person with work, but that doesn’t stop me from giving up retroactive bets on the crypto market. So how do I do retroactive? I will share with everyone in the article below.
To understand more about this article, people can refer to some of the articles below:
- What is LayerZero? LayerZero Cryptocurrency Overview
- What is ZkSync? ZkSync Cryptocurrency Overview
- What is Lens Protocol (LENS)? Lens Protocol Cryptocurrency Overview
- What is Farcaster? Farcaster Cryptocurrency Overview
How Do I Do Retroactive?
“Whine” about work too much
Hello everyone, I am Quang Truong and Founder of Weakhand. If you have a non-traditional job or in the crypto market, then you are probably extremely busy with those jobs and can hardly spend much time on Retroactive. In this article, I will focus on retroactive instead of airdrop because it is different.
- Airdrop: Refers to doing many projects, both large and small (may include cheat: refers to a huge number of participating accounts from several hundred to several thousand). Airdrop is usually a quick, short, simple hit.
- Retroactive: Refers to becoming real users of project. Experience all project products over a long period of time from several months to more than 1 year.
It’s clear that in the crypto market during a downtrend, retroactive is one of the ways to change positions with a not too large amount of capital. Therefore, if we want to change our position in the crypto market, we absolutely should not ignore retroactive, but what should we do if we are too busy with work?
You must balance, arrange, manage time and be disciplined in following the plan you have set.
Define a clear strategy
With my limited time frame during the day, I have a number of decisions as follows:
- Focus on retroactives instead of airdrops: Because airdrops are very time-consuming, from my perspective, if you follow the airdrop direction, you have to do cheats to be truly effective.
- Focus on a single wallet.
- Focus on genuine projects: Definition of genuine projects as big VCs, high valuations, already have products, users & revenue, can lead a certain trend in the future.
- Take advantage of relationships to continue filtering the top projects above to make it as short as possible.
- Each day only spends from approx 30p or less for retroactive work in the early morning time frame (Tay Long is sleeping, Vietnamese people have not yet woken up => Cheap Transaction Fees.
Besides big decisions, I also have to clearly identify the projects I participate in and what I will do specifically such as Swap, Bridge, Lending & Borrowing, Trading, Liquidity Provision,… No Just that, I also define “being greedy when others are fearful and fearful when others are greedy” which means doing more when not doing less and doing less because people fomo to do retro/airdrop.
Identify projects to focus on for clarity
Based on the above criteria, below is a list of retroactive projects I am doing including:
- LayerZero: a key infrastructure platform that plays a leading role in the future Omnichain trend.
- Lens Protocol: Today’s leading Decentralized Social Network Protocol can lead the DeSocial trend in the future.
- zkSync & StarkNet: The 2 zkRollup platforms are extremely highly valued with leading technology compared to competitors in the same industry.
- Farcaster: DeSocial platform has successfully raised $30M from A16Z, Coinbase Ventures,…
For each platform, we also have very clear strategies such as:
- LayerZero: Use Stargate Finance to transfer from Ethereum to other chains (1 time per month); transfer from cheap chains to each other (once a day); transfer Lil Pudgy from one chain to another (once a week); Other projects integrating into LayerZero, if the project is large, the target is 5 trans and for small projects, the target is 1 trans.
- Lens Protocol: Post 3 – 10 videos to Lenstube; post daily posts from telegram to Lenster and sometimes Phaver.
- zkSync & StarkNet: buy and sell transactions on Zigzag Exchange zkSync Lite network (once a week), Provide a small amount of liquidity on StarkNet’s JediSwap.
- Farcaster: Whenever it’s convenient to post on Lens, copy and paste it to Farcaster.
The important thing is perseverance & regularity
For retroactive work, you need to be patient and persistent, especially to ignore the words of online accounts like: “If you’ve already taken a snapshot, why waste your money?” Note that until the project officially announces the launch of the token, it will stop, otherwise just continue.
Specifically for myself, when I started working on Arbitrum around April – May 2022, many people criticized and criticized me, but I ignored those words and continued working. Until the news leaked in December that Arbitrum would release ARB but I still did it and the sweet result came when I thought I was rewarded with 7,000 ARB about $8,000.
So to be retroactive is to be stubborn and ignore what the keyboard warriors on the internet say.
Some small tips while doing retroactive
1 arrow hit 3 swallows
For example, when I do retroactive on Arbitrum, I also do projects on Arbitrum that have not yet released tokens that can also be retroactive for users such as Rage Trade, Sentiment, Orbital, Vovo Finance,…
Therefore, if retroactive and research are combined, the effectiveness will be increased 10 times, not doubled.
Priority in protocol usage
Whenever I have something to do on DeFi like moving assets, DCA, buying and selling tokens,… I will mainly choose reputable, safe protocols that do not have tokens, for example:
- Bridge: Li.Fi, Bungee Exchange.
- DEX: Slingshot.
Join a quality community
Participating in too many communities is like worshiping too many different types of martial arts masters, this will definitely lead to the consequence of going crazy. In crypto, there will be chaos in information and knowledge, everyone does a little bit and in the end no one gets anywhere.
Have quality friends
Having like-minded friends would be great. If you want to go far, go alone, but if you want to go far, go together and retroactive is a long way.
I personally have a younger brother, Buu Pro, so I asked him to make me a retroactive wallet on Arbitrum and that secret seems to have received more than 1.5k tokens, while the wallet I use as my main wallet without the goal of using retros received more than 4.5k. ARB. Just kidding, Buu also gave me a lot of tips on how to do retro effectively.
Summary
And if you ask me how to do retroactive, please read the article above.
