Friend.tech Profit Strategy | Crypto Daily Digest Sep.27
Friend.tech's volumes have grown significantly in September, with a daily volume of about $10M during the past week. Friend'tech players have come up with innovative ways to profit from this social application. Delphi Digital gives an analysis of several profit strategies.
A player has three main goals:
- Maximize points in anticipation of an airdrop
- Trade keys to increase portfolio value
- Increase the value of their own key price.
Strategy 1: (3,3)oors
This is essentially buying each other's keys and holding them. In turn, this increases each other's key prices, portfolio value, and their airdrop points. (3,3)oors look at on-chain data to find suitable (3,3)oors, and follow each other's buys. This works quite well, as one important criterion of airdrop points is portfolio size.
Strategy 2: Self Buying (or Alt Buying)
This is an efficient way to farm points over the last weeks. This just means buying up your own keys, either through the same account (self-buying) or through another account (alt-buying). Friend.tech has introduced a change to the points distribution algorithm last Friday to discourage the self-buying activity.
Two other popular strategies are Snipers, which use bots to buy-up the first keys from users joining the platform, these keys are normally very cheap; and Majors, which means to buy up keys of known individuals, who are likely to remain at the top of the leaderboard.
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