Original source: OKX

Investment banks switch to Web3? Entering the circle in 17 years, playing “DeFi Summer” in 2020 but accidentally discovered an airdrop track? Have you achieved tens of millions of results many times in 4 years?

How did the “Airdrop Master” Fengmi @Kui_gas do it? If you are also a person who “rubs hair”, you have to read this “Sunflower Collection”–

Feng Mi believes that the core secret of airdropping is “losing Gas”, that is, where is the Gas consumed? When disassembled, there are two points: 1. Whether the gas consumed increases the weight;2. Whether the Gas consumed increases the image on the chain.

Here is a series of “Friends of OKX” dialogue interviews. This series aims to provide novice users with reference by exploring KOL career stories, industry thoughts and lessons learned from different backgrounds. Interviewer of this issue
Mercy Messi @Mercy_okx, everyone is welcome to pay attention ~

Article guide:

Chapter 1: Experience: How to get into contact with people and become an expert

Chapter: The core strategy of rolling up: How to select high-quality airdrop projects

Chapter 3: The future of airdrops

Chapter 4: Suggestions for new people: How to start from scratch

Chapter 5: Suggestions for OKX

Chapter 1: Experience: How to get into contact with people and become an expert

1. What is the opportunity to enter the circle? Why is “hair brushing” a “gold mine”?

I studied finance, specializing in securities investment and management, and have done hedging trading and investment banking in traditional finance. I entered the cryptocurrency circle in 2017. In 2020, I played “DeFi Summer” and discovered the airdrop track.

In fact, I learned about BTC in 2009. It was worthless at that time. When I first came out, I used my notebook to dig it, but I didn’t understand much about technology. The main reason was that my understanding was low at that time and I didn’t understand the value of this thing at all. As a result, I missed it. Later, I really began to participate seriously in the bull market in 2017, which was attracted by the surge. To make a lot of money, this was the purest motivation at the beginning. Later, he slowly came into contact with defi in 18-19, such as MakerDAO, Compound, and Uniswap.

In “DeFi Summer” in 2020, I found that Defi mining and airdrop can be combined, and the compound interest effect is very obvious!

As for me, the project stage when I really realized that “hairbrushing” was a feasible strategy was when uni and sushi issued coins, so I found many agreements that I was optimistic about, including ens and paraswap. And from that time, multiple numbers began to be loaded. After that, ens and paraswap launched airdrops. ENS issued airdrops with an order number of more than 10w RMB, and the PSP order number started at 10,000 US dollars. This is also the first time I got on this track. The big bonus confirmed that the road to making money by airdrops is feasible, like finding a gold mine.

2. Why do you want to create and launch a 33 DAO? What is the initial plan? What impact has it had on oneself since its inception?

33DAO is a DAO organization that co-creates, co-builds and shares, and I am one of its initiators. It has been in operation for 4 years now, and there are currently 35 people distributed around the world. We have to meet every week and all members must attend. I simply calculated that in the past 4 years, there should be no less than 200 weekly meetings.

The original idea was very simple-I hoped to gather a group of capable and thoughtful individuals together, and through regular exchanges, in-depth discussions, and collision of opinions, to form a community that truly provides value. At the same time, we are also constantly exporting to the outside world, such as: tutorials, market views, Space
Discussions, etc., to help airdrop partners get online faster and better understand Web3.

I feel three points about the impact of my career on my life since then: First, I think the most direct thing is to get to know a group of tough people, and through this, everyone has achieved great results. These members encourage each other, influence each other, improve awareness, and ultimately realize it. I think this is a good process.

For example, during the recent Chinese New Year period, a member issued a ca within the first few minutes after it was released. At first, everyone thought it was stolen, but through members digging data from each other, they confirmed that this information was true. Then everyone opened the position in the shortest possible time. I remember it was about 0.5-1 US dollars at that time. In two days, the price increased by 100x. In the end, many people get very good results. Unfortunately, I was abroad at the time, so I bought too little and broke my leg! At the same time, I also deeply understood the importance of circle and what kind of people to communicate with is important.

Secondly, the existence of 33DAO will force me to keep exporting. It means continuing to do research and share ideas. Many of these understandings are not unique, but are constantly evolving through continuous learning, in-depth thinking, and discussions with community members. This mechanism of forcing self-reliance into self-reliance has a great impact on me. For example, many projects such as ARB and Strk that we once focused on, we exchanged ideas and encouraged each other during the bear market, and finally got very good results.

Finally, the accumulation of resources and people. 33DAO gives us the opportunity to have direct conversations with top overseas projects, many of which are first measured through community input

dug up. Through many project exchanges, there will be a broader perspective, and at the same time, through project interactions, members will become more closely connected. It can be said that the diaos truly integrate the Web3 landscape.

Chapter: The core strategy of rolling up: How to select high-quality airdrop projects

1. How do you select high-quality airdrop projects? What indicators are you most concerned about? (Such as team background, token economy model, community activity, etc.)

Indicators that focus on high-quality projects: track, financing background, ecological layout, team background, chain data, technological innovation points, etc., of course, market capabilities, ability to do things, and ability to organize games. When selecting and analyzing projects, I personally pay attention to the odds, probability, and cost of the project. I personally think this is a very complicated process, and every link is a practical methodology that I have summarized over the years.

There are only a few categories of tracks, and you can naturally distinguish them if you watch them too much. First go through the mainstream track to form a basic understanding, such as L1/L2, ZK DeFi, LSD, Retaking, BTCFi, Move language and other narratives. I usually rank the ecological items and then analyze the odds and probability separately.

2. Looking for highlights also include protocol technology innovation and protocol characteristics.

After I read a lot of content, I will focus on what are the core advantages of the project? What is the difference compared to competing products on the same track? You can read white papers and official documents when you have time, but it is initially recommended to form track awareness first, and when you see a project, you can quickly judge what it does, and then conduct in-depth research. What impressed me was mavrick,…… On zksync, he found huge opportunities with high APR.

3. Focus on institutions and investors and multi-dimensional perspectives

Some institutions have higher credibility, especially stars who basically cannot run away, making it easier to go to big offices and have higher ceilings. Institutional financing + investors, VC perspective. Institutions have helped screen, which can effectively filter out ordinary projects and improve the winning rate. I personally prefer to focus on institutions that I like, such as Hack vc.

Core idea: Look at the track first, quickly judge the positioning, then look at the highlights of the project, and finally look at institutional investment, find the alpha of the project, and analyze the marketing activity ideas of the project, especially the perspective of the project side. Explore from multiple angles and dimensions.

I turned this process into a self-introduction process for a real-life blind date. What do you do, what do your whole family do, whether you have money, whether you have a house or a car, whether you have a job, whether you have………………………………………………………………………..

2. Project parties usually identify witch attacks through technical means. How can you reasonably use the multi-account strategy without being identified as a “witch attack”?

This is a good question, and I will try to explain it more comprehensively.

1. Let’s first talk about what a witch attack is: the false behavior of a person or team creating a large number of accounts to manipulate the network and protocol resource allocation, typical batch operations, programmatic operations, robot operations…

2. What the project party thinks and does: The project party and the ecosystem hope that real users will participate in the network, and rewards will also be given to real users. The project party will use technical means such as on-chain data analysis, address correlation, and behavioral pattern detection to identify, a typical example is Nansen’s AI clustering analysis.

3. The essence of a witch: It is not that you must be a witch by using multiple accounts, but that you must generate non-contributing spam accounts in batches and abuse the rules to obtain airdrops. The core of the project party’s investigation of witches is “de-scripting and de-batch”

4. Answer your question: How to use the multi-account strategy reasonably?

My point is: To make a “boutique account”, a boutique account means that each account has “independent + real”. Some time ago, there were many such classic cases in Pengu and tia in the past, ranging from US$500 to US$2,000 per address. Boutique account means a high-quality account. Each account has on-chain records of real users, independent behaviors, and reasonable on-chain asset distribution. Multiple accounts themselves are also the principle of risk dispersion. Multiple accounts ≠ witches. Using multiple accounts strategy is nothing more than the rule of estimation and the principle of wide coverage. The income from stacking one account may not be as high as the odds of the income from multiple accounts.

Specific practices:

Starting stage-basic principles:

1. The flow of funds is reasonable, and differentiation should be achieved as much as possible from the start time. including sources of funding

2. Reasonable flow of funds and avoid centralized withdrawals and withdrawals

3. Randomize the interaction time and amount without mechanical operation

4. Multi-chain layout, real user traces make accounts more natural

Number maintenance interaction stage:

1. No batch operations, each account has independent behavior

2. Interaction time, avoid pipelined operations, such as randomization of amounts, transaction order, and combination of multiple types of protocols during interaction

3. Multi-chain layout makes the account more natural and the interaction path is as independent as possible

4. Make high-quality user portraits and behaviors, hold different assets, and increase account weight

5. Participate in real activities and increase account weight. Such as DAO voting, NFT Mint, DeFi Staking

6. Combined interaction, embedded interaction, and combined with defi strategy, Gas is consumed on the cutting edge

3. How to understand “boutique account”?

Premium account means a high-quality account. Each account has on-chain records of real users, independent behaviors, and reasonable on-chain asset distribution. Of course, everyone has different understandings of premium accounts. The addresses distributed to rewards by the project party also hope to be real and high-quality. Some are equity-based NFTs for their own projects, and some focus on on-chain interactive portraits. So, many of the points of concern will be funds, activity, diversity, on-chain identity, loyalty, and main-network data.(gas consumption, time, tx, active time), holding NFT, etc. How true it comes.

General focus: wallet history, interaction behavior, capital flow, asset holding (token nft), balance retention, multi-chain activity, partial social binding…

4. How to control the cost of grooming? On chains with high Gas fees (such as Ethereum), what suggestions do you have for optimizing interaction strategies?

1. I personally don’t use the IP, ADS, and other programs mentioned by many people. The main reason is that I don’t know it. I focus more on the chain portrait formed by the loss of gas in the account itself.

2. The cost of my own interactive account is: capital cost and gas cost.

3. So the core point I care about is where Gas is consumed, either increasing the weight or increasing the portrait on the chain. These two points are the core range of airdrops that can sniper project parties.

4. The specific strategy is to use defi, or arbitrage, or trading, or mint or the weight tx of the project as much as possible. Try to recover the gas costs lost by kui as much as possible, and at the same time improve and improve the account profile. This is very reflexive, and you must first learn to lose money and gas.

5. What suggestions do you have for optimizing interaction strategies on the chain with high Gas fees (such as Ethereum)? It depends on the situation here. In the past few years, only the first year gas fees were expensive, and the subsequent ones were very low. For example, now that no one cares about gas1, it is a good time to polish the new number. You can interact with main network data in conjunction with specific projects.

5. Different projects have different requirements for interaction. How do you adjust your strategy according to the characteristics of the project?

Different projects have different requirements for airdrop interaction. The significance of blindly referring to the tutorial is not great at this stage. Everyone hopes to achieve precise interaction + minimum cost + maximum benefits. This is very, very rare. This uncertainty and reflexivity require long-term practice and tracking. It is also the most difficult part of this track.

1. My strategy has always been boutique accounts + weighted interactions + calculating high input-output ratios + controlling risks. Use high-quality accounts to attack high-quality agreements to combine trading agreements. Different projects have different airdrop allocation logics, and batch operations cannot be carried out across the board, but must be targeted. My experience in grooming is not simply to “win with large quantities”, but to find the correct interaction strategy that meets the expectations of the project and conforms to my personality.

2. Give an example. For example, L1 / L2 must take into account TVL, authenticity, native DApps are preferred, and diverse combinations are preferred. Play with the ecology from a real perspective.

For the DeFi agreement, the project side’s perspective focuses on considering in-depth users and prioritizes users who provide long-term liquidity and transactions, such as deposit time, amount, LP, etc. Specific analysis based on on-chain data of a single protocol.

Cross-chain bridges, pledge types are also based on the background of the agreement. Pledge types may focus on the agreement’s tge time, safety, track location, and input-output ratio.

EigenLayer and Babylon cases.

In addition, interaction can also increase the quality and weight of the account. Here I can explain the logic of my participation in the W Wormhole. The income of more than US$10,000 per order and the time relationship. If you want to listen, I will talk about it… I have talked about it here but don’t want to write it.

Community-based projects: Contributions are encouraged, and the project has NFT-related gameplay. You can focus on ecological NFT and rights-based OG NFT.

“Get more” is more important than “get more”, especially as the current market is paying more and more attention to real users. Therefore, precise interaction, reasonable allocation of funds, and long-term layout and maintenance are the current focus. Nowadays, airdrop tracks are not the number of wallets, but the research on the project, the understanding and execution of the rules!

6. After many projects are airdropped, people will choose to sell the tokens they get. How do you judge the timing of the sale?

I haven’t done this well. Now that I have a full hand of altcoins, I am the typical representative who knows how to sell but not sell it. I think there are many reasons. On the one hand, the market has changed, and holder became rich in the last cycle. This round is holding and losing money. My previous OP and ARB were held for more than a year. There are also some projects that are pledged after I get them, which dropped by 90%, and many of them have become small hair. Some projects have been airdropped, but I really haven’t sold them at present, such as EigenLayer. If I really encounter a project that has fallen miserably, I will pretend to be dead and return to zero, add it to the cost price according to the online price, and withdraw losses. I have always been a mentality of not pursuing absolute values but pursuing relative values.

After suffering a lot of losses, according to my personal situation, after getting the airdrop at this stage, it will be sold for about 1/3. Subsequent judgment based on the project and market conditions, most of the projects I won are vc coins. My main focus is the final round of valuation of the project, as well as the online market value, unlocking situation, and the most important thing is the market situation. We actually can’t use it as a reference. The main reason is that airdrops can create feelings, and reluctance to sell is the core reason!

Chapter 3: The future of airdrops

1. What do you think of the emergence of Meme launch platforms such as Pump, and what impact will this have on hair brushing?

Meme launch platforms such as Pump.fun lower the threshold for token issuance. Anyone can issue coins within seconds using the one-click coin issuance model and automatically create LP. In fact, this is a new and extremely free asset issuance model. Evolution. Its emergence is equivalent to moving from the early ico and ieo models to the airdrop model, and evolving to the current self-release model. It lowers the threshold for issuing coins and also changes
The mentality and strategies of Web3 participants (especially hair-brushing),

1. Impact on project token distribution

This free asset issuance model lowers the threshold for token issuance. One-click coin issuance + automatic creation of LP, directly entering the market without technology or financing. This new model not only affects
The Meme track has also brought changes to the way traditional Web3 projects distribute tokens. Many projects will choose to go online directly on DEX without going to the exchange first. Project parties no longer need to rely on traditional financing or token lockups, but directly let the market determine the value of the tokens.

2. Impact on Lu Sir

Impact 1-Mentality: The hair-brushing cycle has been extremely shortened, which is a huge test for human nature. The speculative mentality has intensified. In the past, when air-dropping, everyone was accustomed to 3-24 months of interaction and waited for TGE for a long time. Pump now
Meme coins can increase by a hundred times in a few minutes, or they may return to zero in a few minutes. On the other hand, various characteristics such as the time of rolling hair, uncertain income, and reverse rolling are no better than meme.

Impact 2-Benefit: Lu Sir’s “belief system” has collapsed, and speculative play has been infinitely amplified. In the past, Lu Sir paid attention to the depth of interaction, on-chain contribution, technical characteristics and value. Lu Sir hopes that the project party will develop in the long term. Under the Meme model, the core driving force of tokens is “emotion + narrative + fund FOMO”. Many hair-raising people no longer airdrops, but turn to meme, no longer caring about the project itself, but only care about short-term fluctuations because it is cooler, Faster, more wealth effect. Everyone hopes to be the son of the version.

Impact 3-Gambling: Playing Sir’s mentality is more FOMO and it is easy to fall into gambling. Traditional playing hair is about playing steadily, but the Meme ecosystem has allowed the market to enter an extreme speculative mode, and gambling is getting heavier and heavier.

2. The evolution trend of hair-raising in the future: Is there any chance for multiple loss Gas?

I think there is, no number can never make a fortune or have excess returns. However, it is necessary to balance the flow and distribution of personal funds and account funds. It’s okay to lose Gas on multiple accounts, but don’t burn gas. There is a distinction here. The core of future hair-raising is the “boutique number”. Real interaction + natural capital flow + long-term activity is the optimal strategy. Hair-raising is no longer just a “pile”, but a test of “strategy + execution + information”! Those with strong execution ability can still pile high-quality numbers and pile more high-quality numbers.

3. What should I do if some projects burn Gas and require social accounts to do tasks?

Some projects use a dual screening mechanism when designing activities, requiring both on-chain interactions (Kui Gas) and social interactions (Twitter, Discord, Galxe tasks, etc.). This model puts forward higher requirements for losing friends. If it is not handled well, it may cost too much cost, time, and final income mismatch, so you will scold them. My suggestions and strategies are:

1. First judge whether the project is worth “KuiGas and socializing”. Before doing this, you must have your own logical judgment and thinking. At the same time, you must see whether the project conforms to your personality and formulate differentiated interaction strategies.

2. There is a distinction between a studio and an individual here. The strategies here should be inconsistent. As a super individual, I personally maintain a batch of 3-piece sets, all of which are registered one by one with early overseas mobile phones. They are all accounts maintained for a long time. Within my personal ability, it is divided into computer maintenance. Raising 3-piece sets here depends more on your behavior. Occasionally, if you need to have differentiated activities, the 3-piece sets will also be checked for relevance, activity and other account quality. Not to mention the relationship between time, anyway, this is infrastructure. There must be, but there is no need for much.

3. The corresponding 1 boutique number can be configured with a three-piece set to make the number of accounts within one’s ability. Say 100.

4. Focus more on on-chain portraits and high-quality tx, and a large number of invalid web3 interactive tasks are meaningfully abandoned. Here, the judgment of the activities designed by the project party is a key point.

4. Will TX be useful, and will the role of trading volume in smoothing hair still be effective?

As the screening standards and anti-witch mechanisms of project parties continue to upgrade, this simple and crude calculation method is no longer the best strategy. Nowadays,”interaction quality + transaction authenticity” is emphasized more. However, TX and transaction volume need to be combined with “depth of interaction”. To make an inappropriate analogy, if you went to the bank a few times in the past, the bank president might know you and occasionally invite you to a cup of coffee. At this stage, your deposit alone may not be useful. You have to be a VIP. They have to be customers who have long purchased the bancassurance products they manage and promote.

5. What innovative airdrop designs in the future will be win-win for the community, project parties, and even the entire ecosystem?

This topic is a bit big and a bit broad. How to distribute airdrops is an art for the project party. If it is done well, it is selling crutches if it is messed up. Briefly give me my understanding:

1. Airdrop has been proven to be an important way for the early growth and user acquisition of Web3 projects. However, the traditional airdrop model does have a lot of problems, resulting in the project taking out a large number of tokens but failing to truly attract long-term users. The proportion of low-quality users is too high and the token economy model is damaged…

2. Good airdrops are designed to attract new users, reward early users, and retain more users, while at the same time growing around the economic flywheel of the project and ecology. A more innovative, fairer and more sustainable airdrop design should achieve “3 wins” for project parties, community users and ecosystems

Future airdrop models and methods must have the following core principles:

1-Long-term incentive mechanism (avoid short-term selling, encourage continuous user interaction, and make long-term contributions)

2-Combine on-chain data and off-chain community contributions to screen real users and real contributors

3-3 The interests of all parties are consistent (user growth = ecological growth)

4-Be open and transparent (explain every rule and reason clearly), don’t be a rat’s trap

There are many specific methods. You can give an example: the “gradual release” mechanism, referring to OP’s airdrops, multiple consecutive rounds of airdrops, large, comprehensive and continuous rewards for long-term contributions. Once again, more elements can be superimposed on the basis of this, and the airdrop strategy and design will be more complete. There is no perfect plan, so we can only take care of small and medium-sized retail investors and more real users as much as possible.

Chapter 4: Suggestions for Newbies

1. How to start shaving from scratch? For novices who have just started shaving, the amount of money may be several hundred U. How should we start?

Hairbrushing is a low-cost path and strategy to enter Web3 and make some money. However, it is not a simple free money-giving game. It should be a combination of cognition, strategy, and execution. Different people have different interaction strategies and styles at different stages, and there are differences between technical and non-technical backgrounds. For newcomers who are just starting out and do not have technical skills, my suggestions:

1. Tao aspect (conceptual level): correct understanding

·Study: Understand some ways the industry makes money, airdrop models, learn to explore ecology and agreements, and see which projects are suitable for you in the early stage

· Principle: After making your own project judgment, it is clear that not all projects are worth getting off. Before getting off, there must be selection criteria. The essence of getting off is “low-cost investment”. Time, Gas fees, and opportunity costs are all your “investment”. No Fomo.

·Direction: Choose the right track. Direction is more important than hard work. To pick a track with strong future certainty, large amount of capital, and possible long-term incentives.

·Investment research: Establish a project library, learn to look at projects, follow up on projects, calculate ROI, see risk points, odds points, weight points, etc.

2. Surgical prescription (execution level): specific method

·Learn to interact correctly: for example, how to swap, bridge funds, how to find tokens, how to complete project tasks with a three-piece set, etc. The core is to improve interaction skills.

·Increase account weight: Learn to interact in depth and become an active, real and high-quality user of ecological protocols.

·Control costs: There are many postures for grooming, not just kuigas, pledge, but also very high-quality test network projects on the market.

·Multi-perspective participation: For example, the user’s perspective is to deeply participate in the ecosystem, the creator’s perspective is to help the project write content, etc.

Summary: Use slow to fast, and use less to defeat more.

2. Common misunderstandings?

Fengmi: Losing losses is a blessing. Some pits must be stepped on by yourself. It is most useful to experience your own review. People don’t know how to teach others, but they can teach others once.

3. How should newbies obtain high-quality information sources? What information channels or tools do you recommend?

The easiest thing is to follow high-quality KOL, Twitter, youtube, etc., and you can find the project from rootdata @rootDataCrypto, find the corresponding X account and team members, as well as financing and other situations.

If you study, okx’s web3 wallet@OKXWeb3_CN also has many basic project tasks that can be used as a practice

Chapter 5: Suggestions for OKX

1. What role and influence does okx play in various ecological developments?

OKX’s wallet supports a lot of ecosystems and chains. As far as I know, it currently supports 127 chains. I personally use okx as my common wallet in an interactive wallet. I usually share the same set of mnemonic words with Little Fox and okx.

Features: Safe, timely, smooth, too much, don’t write, easy to use anyway. The Movement ecosystem is thanks to the support of the okxweb3 wallet. At that time, the Movement needed to download another wallet, but it was not easy to use. After I responded to this issue with Haiteng @Haiteng_okx, he immediately called relevant colleagues for me and quickly supported the Movement. This made it a lot easier for us, and assets no longer needed to be migrated.

2. In the future development, what ecological cooperation do you want to see okx and? In what form? What kind of cooperation does the community want to see more?

The ecology and coverage are very comprehensive. As far as I know, okx’s wallet team is very strong, BD expansion is also very strong, support is quick, and bug resolution is very timely. I think the area that may be optimized is in terms of airdrop interaction. OKX @okxchinese has made it wide, but it is not deep enough. There are many users using okx. Here, we can create some valuable growth systems around the user’s wallet situation. This system can cooperate with many ecosystems to help both parties drain, or bring more data bonuses and rewards to okx wallet users.

It’s good if you have already done it in terms of tools, such as the real-time K line and a trading token recently supported on X. In terms of airdrops, okx can make an airdrop detector, and users can detect any unclaimed airdrops through their wallets on the chain.

Conclusion:

Feng Mi: These five years of experience have made me more firm in one belief: the true value does not lie in what you know, but in what you can link and implement.

In this ever-changing market, the strongest competitiveness is continuous evolution of cognition, forward-looking layout, and super, damn execution. Time is short. Please correct me if you are wrong!

Mercy: I first heard that Teacher Feng Mi seemed to be a legendary character. Some people said that President Feng sat in the temple and airdropped 365 days a year… After real contact, I found that whether it is sincere and humble behavior, or dedicated and serious professionalism, Mercy deserves to learn from and respect.

During this conversation between OKX friends about the “ways and techniques” of airdrops, Mercy gained three core points:

1. You must have excellent judgment-“getting better” is more important than “getting more”;

2. A high sense of responsibility-take every deal seriously;

3. Strong execution power-needed by both newcomers and the elderly.

I hope everyone can also gain something. Finally, I would like to thank Fengmi @Kui_gas again for sharing, and welcome everyone to continue to pay attention to the “Friends of OKX” dialogue series.

Risk warnings and disclaimers

This article is for reference only. This article only represents the author’s views and does not represent OKX’s position. This article is not intended to provide (i) investment advice or investment recommendations; (ii) offers or solicitation to buy, sell or hold digital assets; and (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of this information. Holding of digital assets, including stablecoins and NFTs, involves high risks and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professional for your specific situation. It is your own responsibility to understand and comply with applicable local laws and regulations.

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