Friend.tech Profit Strategy | Crypto Daily Digest Sep.27

TI Research

Despite a very cold market overall, Friend.tech has shown no signs of fading. Several strategy has been proposed to profit from this social application.

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.

Today's Market

Source:TokenInsight Gainers and losers

Headlines

SEC Delays Decision on Ark 21Shares Spot Bitcoin ETF

Binance Sells Entire Russia Business to CommEX

Mixin: Compensation Ratios for $BTC, $ETH, and $USDT are 90%, 30%, and 10% Respectively

Other News in Case You Missed it:

Arbitrum Odyssey Restarts with GMX

Lookonchain: Curve Founder Michael Egorov Repays All Debt on Aave

Global Payment Processing Giant MoneyGram to Launch Non-Custodial Crypto Wallet

Argentinian Oil Company to Launch Crypto Mining Facility

Chaos Labs Proposes to Allocate $20M $DYDX Tokens to v4 Early Users

Ethereum Network Explorer Rated Labs Raised $12.9M, Led by Archetype

What's New from TokenInsight?

What is EIP-7514: EIP-7514 is the latest Ethereum Improvement Proposal released on September 7th. It will be activated alongside five other proposals, including EIP-4844, during the Dencun upgrade at the end of 2023.

The Diverse Landscape of Exchanges in a Bear Market: In the crypto market, the bear market is a test for all. How are the different exchanges faring in this challenging environment? Let's find out together.

Social

Binance

TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open