Author: Blockchain Enthusiast
In recent days, the zkSync incident continues to stir up discussions online. I have seen many Twitter users even directly pressuring Xan and OKEx, hoping that these two exchanges will make a statement.
Furthermore, the Chinese zkSync community has also publicly expressed their stance, with a tone of helplessness and bitterness, stating that they will reveal more details and information about the entire process in the future – I am actually looking forward to the subsequent statements from this community.
From the overall development of the incident, it seems that the chances of salvaging the situation are quite limited. Therefore, it is more important for the majority of participants to take appropriate measures and avoid making similar mistakes in future activities.
However, I still see many Twitter users expressing their heavy losses on zkSync and suggesting to move on and focus on the next opportunity – despite these experiences, if they persist in using the “go all out” and “at all costs” approach, then I can only wish them good luck.
My conscious participation in these activities only started after Arbitrum.
At that time, a friend mentioned to me: “Shouldn’t we also form a team, create multiple accounts, and specialize in this?” Due to my inherent laziness, this idea never materialized. However, the suggestion did remind me that it was necessary to get involved: on one hand, to familiarize myself with the latest applications, and on the other hand, to make some profits on the side.
So, I decided to casually participate on my own.
Given my limited time, energy, and resources, I set a strategy for myself:
Focus on three accounts, select key applications, prioritize capital preservation, and occasionally interact with new applications.
“Focusing on three accounts” means that I used three Argent X and three MetaMask accounts to participate in every well-known Ethereum Layer 2 extension post-Arbitrum.
“Selecting key applications” entails focusing on two types of projects in each Layer 2 extension: DeFi and NFT. In the DeFi sector, I specifically chose the top three DEX and lending applications on each chain.
“Prioritizing capital preservation” involves mainly providing liquidity for three types of assets for each DEX, with minimal token trading:
– Initially, I provided liquidity for the WBTC-ETH pair.
– As more ETH derivative assets emerged (such as stETH, ezETH, etc.), I switched WBTC and ETH for pairs like stETH-ETH, ezETH-ETH, etc.
– Finally, I provided liquidity for stablecoin-stablecoin pairs like DAI-USDC.
I selected these pairs to avoid impermanent loss.
For each lending application, I mainly provided two types of collateral: ETH derivative assets (such as stETH, ezETH, etc.) or ETH, and stablecoins.
“Occasionally interacting with new applications” refers to primarily participating in new NFT drops found on Twitter. Although most of these projects are meaningless and solely for participants to profit, they have the advantage of extremely low fees.
This is how I engage with Ethereum Layer 2 extensions.
However, during this process, there are two types of tasks that I am too lazy to undertake:
– Linking my personal Twitter and Discord accounts. I find these interactions tedious and not worth the effort of managing multiple zombie accounts solely for profit.
– Identity verification, such as Linea’s POH. Why introduce such processes in the crypto ecosystem? Since Linea implemented POH, I have avoided participating in any related interactions unless they are particularly fun or interesting.
Apart from these tasks, I do not follow the recommendations of many online users, such as interacting weekly, ensuring a 24-hour gap between actions on different accounts to prevent front-running, etc.
I interact spontaneously, manually handling all actions across my three accounts, without using any scripts for automation.
The results of my approach are as follows:
– Starknet airdrop wiped out all three of my Argent X accounts.
– Surprisingly, my Github account received a generous reward, possibly due to my involvement in various Ethereum ecosystem projects.
Looking back, my initial involvement in these projects was purely out of interest and fun, following the lead of industry veterans. In those days, the crypto ecosystem did not have a concept of airdrops, and even Uniswap had only recently been launched.
Despite Starknet’s airdrop wiping out my wallets, I did not draw any conclusions, enhance anti-front-running skills, or change my approach. I continue to operate as before.
During the zkSync airdrop, all three of my MetaMask accounts received the airdrop, exceeding my expectations. However, my Github account did not receive anything.
For the remaining Layer 2 extensions, my approach will not change, and the results will be left to fate. I will not waste unnecessary resources and effort on these activities.
As for the airdrops I received, I do not plan to sell them for now. I will keep the trading pairs and collateral assets in those chains, as they may help in receiving future project airdrops.
I hope my experiences can be helpful to others.
Lastly, I want to emphasize once again: when engaging in these activities, let’s try to reduce our focus on profits and instead nurture curiosity and a desire for exploration – luck will be on our side. Even if things don’t go as planned this time, there will always be another opportunity.
