It’s been 2 weeks since my last entry. Trust me, I thought about keeping you in the loop within this time but too many things were happening.

In the past two weeks, I’ve:

• Lost $10.

• Made free earnings

• Engaged some airdrops/bounties

• Gotten a Superteam member nft🚀

• Been scammed

Before we go deeper, please subscribe to read my next entry👇👇

General DeFi Overview

• Metamask is very slow on some Android devices, including mine😭😭.

• When you buy presale on any token, take profit after you make 1x your capital. (More on this later)

• Don’t buy the top. It’s not going any further

• Before connecting with any dApp, verify if it’s original or a scam.

• Always connect first with an empty wallet.

• Do your own research, some idolos are paid to shill. They don’t tell you it’s an ad.

• If you can do it for free, without connecting your wallet, then try.

Where I Started

In my last entry, I shared that I was focusing on Solana and Ton blockchain. Well, nothing much has changed.

No other blockchain has given me as much as Solana and I’m beginning to build onchain traction there.

For Ton, it’s still pretty much Notcoin(it’s probably nothing😅)

But let’s talk about the journey so far.

Building DeFi Traction

• How I lost $10

  I discovered a meme token influencers said would be the next ‘baby meme token to do 100x’, lol. I didn’t do any research, it was on presale and I thought ‘What’s the worst that can happen?’.

  It turns out, upon launch, the token did really well, I bought with $10 on presale, I saw my capital grow to $21 but I felt it would go higher.

  It didn’t.

  The token crashed, went from a $100,000 mc to $19,000

  I was disappointed but I had learnt my lesson.

  When your capital does 1x, take profit. If I had taken a profit at $21, I could have bought in again at a lower mc and rode it out.

• Now, how I got some free earnings.

  I made around $200+ from winning a superteam thread bounty and claiming some $Wen.

  $Wen yours? Maybe wen you use the Solana blockchain😅

• How I engaged some airdrops/bounties

  Let me start by saying ‘Engagement requires active participation’. Also ‘The easiest way to earn your first crypto is by engaging airdrops and bounties’

  So far, I’ve written bounty threads on Saros Finance, Superteam Germany, and Solacard, I’ve also engaged the $woof airdrop and I’m anticipating $Solawave’s bot launch.

  Some of these threads/bounties have reward pools as high as $10000 and winner positions up to 10th place(though I’m aiming for 1st place).

  My fundamentals for doing any bounty task/thread are:

• ❤️‍🔥 Popularity: The less popular the project is, the higher your chances of winning.

• 🔔 Winner Positions: Multiple winning positions slots are better. If there 1-10 winner positions, you can aim for the top, and land in 3rd place, that’s fair.

• 💰The Bag: The bigger the prize, the better.

• How I got my Superteam NFT

Honestly, there’s not much to share here. I won a bounty and qualified for a member position.

I love Superteam btw and I’ll be there a long time. Really glad to be a member.

• How I Got Scammed

  I didn’t do my own research. And after the experience, here’s my advice for you:

  1️⃣ Do not buy a token presale without doing your research. Check their X following and their X activity.

  The presale token that scammed me was following around 10 people with usernames that made no sense.

  And when I checked their account, I saw that they had been on X since 2014(which is a red flag for a token they claimed is new) and their past activities were gibberish shillings.

  2️⃣ When you find a new token or gem, follow their X and turn on post notifications.

  By doing this, you’ll be able to identify them among scam accounts. For example, I followed @wenwencoin and turned on post notifications.

A few days later, I was reading their tweet, checked the comment section, and saw an account that looked exactly like theirs with content that looked real in the comment section.

Upon close research, I noticed that I wasn’t following them, and their notifications weren’t turned on. I went back to check for @wenwencoin and alas, they weren’t the same account. Their username was @wenwemcoin, an easy-to-miss change to the unobserving eye.

That saved me from making a major mistake.

Some official X accounts have started adding an additional tweet after every post to say ‘This is the last tweet in this thread’ to protect users from scams.

3️⃣ When connecting to a new dApp, start with an empty wallet.

Most scam platforms will prompt you to use an account with some funds in it. That’s a red flag. And you can easily protect yourself by testing with an empty wallet.

Finally

That’s it for this week’s entry.

I hope you learnt from my experience and will begin your DeFi degen journey today. I have a couple of tasks to achieve this week and I’ll update you on how it goes.

If you enjoyed this, then you might like entry 1.

Let's connect! Consider minting this entry to help me grow.

Wagmi ✊