Being very selective about what Perps protocols you spend time on is becoming painfully apparent - AFX got exploited yesterday - Dango announced today that are shutting down ... despite saying "as we've always said airdrop will be in Q4" What I'm narrowing down on and why: @variational_io - Clear winner, actually has a different PMF than HL and Lighter, complimentary not competitive, product has improve significantly since over a year ago, regular RWA competitions give nice points boost, relative total OI + being time weighted + no API / No bot automation access means its still "hard but fair" to get points Most of my "manual" farming work is going into here, TGE will likely be in Q4 so the endzone is actually relatively soon @Ondo via @tread_fi - Weekly USDC incentives are a nice bonus to offset farming cost and have a higher weighting towards Volume instead of OI = less time and management to farm + can use Treadfi to passively push volume For Ondo points - Ondo has a big treasury, has been around for a while, actually makes money and has a native token at a high FDV, after upcoming unlocks they could easily allocation 1% of the supply to the points users and it would be a pretty decent stimmy Pretty easy to get points tbh I just pretty mindlessly ran Grid Mid -1 or +1 for various pairs for only the first 3 weeks (were on like week 8 now) and got like 15k points ~Rank 250 + Your getting Treadfi points in the background (not technically being shown / tracked but posts have said users during this interim S1.5 going on right now "will be rewarded") @arcus_xyz - current "higher risk" farm play, still very early pre-points beta stage + the expected bugs that come along with that, see my most recent post as to why I'm spending time here and how to potentially get ahead in the 80k wallet waitlist What I've avoided/faded, have little exposure to, or have stopped interacting with for a while 01, antarctic, bullbit, bullpen, carbon, cascade, dango, decibel, dexari, dreamcash, ethereal, extended, gmtrade, grvt, hibachi, hotstuff, liquid, miracle, ostium, pacifica, perpl, phoenix, reya, rho, satori, standx, ventuals, vest Closing thoughts: - getting near the cycle bottom of the Perp Dex meta, increasingly more protocols are going to be having shutdown announcements over the next 6 months due to lack of traction + PMF - Now is the time/ your allowed to slow your trading down a little, explore with, learn, and run delta neutral strategies (using the Agents tool on Treadfi is great for this) to reduce cost as much as possible until better days come - Avoid aggressive farming / burning fees to farm as primary strategy for things that are not clear winners, there is still very high protocol dilution, many users who did this with Dango basically burned away 4-5 figs for nothing - Points are still technically always just numbers in a database until an actual TGE happens, we just apply magic imaginary $ value numbers to them to mentally justify our efforts - If the protocol has been consistently under 250M daily volume for a while they are probably cooked Ref links with gud bonuses and boosts and all that in the comments
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