How to run a Chain
My 2 cent on current chains n where iseasy money there
How to run a Chain
▶️ How can you benefit as a user
▶️ My 2 cent on current chains n easy money there
My Dapp Maxi point of view 🙏
Content preview
Quick story on how most "chain" is basically setup
How can you benefit as a user in different including pre-launch, post-launch
My 2cent of current L2s and what am I doing & NOT doing
How to run a chain
1️⃣
[ Dream ] typically future use
+
[ Tech ] typically change weight of the crypto trilemma, the Security, Scalability or how decentralised it is.
Ideally find a balance between
future hopium yet somewhat deliverable,
easy to understand yet technical ish
Pitch example:
Future of decentralised trading
fast and consensus, tech requirement hight TPS, quick consensus etc
Gaming
web2 friendly, gasless, no wallet required
App specific chain so its design n tailored toward the "use"
This has been repeated so many times
@litecoin was suppose to be "sliver" of crypto
@Ripple_XRP1 was suppose to be "payment" of crypto
@vechainofficial was the "RWA" supply line tracking
@Polkadot & @Cardano_CF was suppose to ETH killer because its "faster"
@WAX_io was suppose to be the go to gaming chain
I purposely chose all the old chains to remind u it's always the same narrative repeating, same girl different clothes
2️⃣ Get users
Now that u have a great story, u gotta tell everyone that is in it for the tech & dream.
Self fund or get a pre-seed round based on amazing tech & plans
Launch early adoptor programs,
node operators or users
airdrop, airdrop, airdrop
depending on your marketing ability you now have a base user where you can raise a bigger round or setup a "ecosystem" fund where you invite builders to build on top
Ur kpi as a chain will be tvl, number of dapps built, users, txns
It might seem hard, but its ok. Airdrop hunters got ur back,
just gotta leak "rules" of how to get the airdrop and people will do it.
🤡 Example
A little bird told me to trading X amount on X chain
Repeat 2 & 3 until u have raised enough or simply can't keep "airdrop" hype anymore.
Pick a date where to have some major update + when market is hot and launch on your favourite cex, ideally a mix of different country for different sentiment
😉 korean's are good apes
3️⃣ What now?
Now that u have a token u can openly invite more builders to join with token emission
or just slowly die off like some L2 with name of a drink with
10 txn a and $US970 trading as a whole chain with 45m funding lol
🔹 How can you benefit as a user in different including pre-launch, post-launch
I might sound ver toxic from above, but i promise is just my twitter talking. Im full of hopium n in it for the tech normally.
i don't hv preference in chain, i see opportunties i will take it
❓what are the opportunties
▶️ Early farming
▶️ Good Risk & Reward Early Token bets
▶️ Ecosystem Incentives or Airdrop
▶️ Early farming
Always try to be the first to bridge over n provide LP to the go-to-dex, farm the airdrop hunters
There are a few types of early farming, emission reward base or real trading yield
n of course if you are early, the pool size is small as well.
Emission reward
Dex fight to dominate liquidity hence boosting reward
Real yield
Bridges are limited in early ecosystem, likely only hv eth for bridging. Users typically end up using swap to to convert eth -> usdc/usdt/dai
farm the airdrop farmer kek, REAL TRADING VOLUME!
heres a screenshot of an old post of mine.
You can see the high trading volume compare to the TVL ( pool size )
Good farm!
▶️ Good Risk & Reward Early Token bets
Every ecosystem needs dex, lending, aggregator, perp
There is always a chance to bet on
the "first", the "go-to" protocol.
It can be good deal or a trap
read more below
▶️ Ecosystem Incentives or Airdrop
Like ARB's STIP and OP's incentive program, on each chain there are typically incentivized farm for dex, lending or perp
They r great because they are vetted by the chain + incentive backed with thick liquidity
full guide on farming
My 2cent on current chains
📌 ETH is still the true battle field for dapps
U can complain about the gas but most protocols with meaningful TVL is still on ETH, even meme coins dominates on ETH.
its a bit like non ETH nft will always be worth less n lower celling
📌 Arbitrum is still hot af
Too much ARB token emission?
doesnt matter, it is still where all the users are. with 2nd high dex trading volum this is still where the party is after ETH
don't be obessed with the new chains only, best win rate is still there
📌 BSC is cool but is mainly old whales trading there, some hidden farms with not bad apy there,
but opBNB was an epic fail it was basically mini shxt coin chain but no one wanted to trade there.
📌 @BuildOnBase
had a good start, it only had forks, memes n rugs at the start but @friendtech came n saved them.
As a dapp maxi i believe one dapp can lead the chain like defi kingdom for harmony.
but friendtech need more legos or features if they want to save base
📌 zkevm
is starting to make more moves, polygon is a proven team that can make a chain work with just pure BD power n onboarding protocols.
not much to do there yet but bullish on the team
📌 @optimismFND
winning on the "stacks" concept for sure, still waiting for a "killer" dapp to launch tho
i think the foundation has done a very good controling the emission
📌 @0xMantle
should be doing things but slower than i expected, waiting for more exciting dapps
📌 @SuiNetwork
lowkey dead but i think the foundation is giving out SUI token incentive
check out their top dex or other protocol lots of good farms. u can get 30-50% apy on stablecoin farming with sui incentive
at least the foundation is doing something keeping an eye on it
Thoughts on Sol & Near here
But ya in general there is no real winner yet
It is the game of who has the best incentives, giving potential airdrops or emission to get community
AND WE SHOULD TAKE EVERYTHING WE CAN
until...
when u see a new cult, new baby, something new reborning, a potentially killer dapp like GMX on Arbitrum, tomb on FTM and defikingdom on ONE.
Then maybe we can decide to settle there.
TLDR
🔹 Chain launch patterns, mostly dream only
🔹 Incentives attract users ( go take it)
🔹 Killer dapp make user stay
🔹Farm ARB
🔹BNB old but still hv some GOLD
🔹Free money on SUI
🔹Near making moves like SOL