Revealing My LayerZero Airdrop Profits

Summary

In this video, the creator discusses their experience with the LayerZero (LZR) token drop, detailing the challenges of high gas fees and platform issues during the claiming process. They managed to sell their tokens at a profit before the market crash, making around $3.2k, despite a $0.10 donation fee per token. The creator shares their strategy of taking profits and not holding LZR for the long term, also mentioning the token's market cap fluctuations and potential future price movements.

Takeaways

• 😀 The speaker successfully claimed their LayerZero (ler zero) tokens amid technical issues with gas fees and network congestion.
• 💰 The speaker sold their tokens before trading started, using a limit order at $5.30 to secure a profit.
• 📈 The speaker made a total profit of around $3.2k from the LayerZero tokens, which is an 8x return on their initial investment.
• 🛑 There was an additional cost of $0.10 for every token received as a donation, which the speaker reluctantly paid to claim their tokens.
• 🚫 The speaker chose not to hold LayerZero tokens long-term as it is not currently in their portfolio priorities.
• 💼 The speaker allocated $1K for further investments and sent $2K to their bank account for personal financial needs.
• 🏦 The speaker mentioned needing funds in their bank account due to their ongoing residence process and the inability to use crypto as proof of income.
• 📊 The speaker initially expected the market cap to reach $1 billion to $1.5 billion, but it opened at $1.8 billion and later settled at around $868 million.
• 🤔 The speaker speculates that the token price might reach $10, but not within the next few hours due to ongoing selling pressure and market recovery needed.
• 🔄 The speaker started with a $40 investment in 2023 and has been successfully farming profits each month, sometimes good, sometimes okay, but always profitable.
• 👋 The speaker invites any questions or doubts from the audience and expresses hope that they also did well from the LayerZero drop.

Q & A

What was the issue with the Y drop for Layer Zero tokens?

The issues included high gas fees reaching up to $150, Arbitron not working, and BNB chain issues which made it difficult to claim tokens on multiple chains.

How long did the user have to wait to claim their Layer Zero tokens?

The user had to wait for about 20-30 minutes initially, but after more people started claiming, the wait extended to around an hour.

What was the user's strategy for selling their Layer Zero tokens?

The user used a limit order at $5.30 before the trading started and sold the majority of their tokens at this price, with smaller allocations sold between $4.20 and $4.40.

What was the user's total profit from selling Layer Zero tokens?

The user made a total profit of around $3.2k from selling Layer Zero tokens.

How much did the user spend in total on Layer Zero before making a profit?

The user spent approximately $300-$400 on Layer Zero before making a profit.

What additional cost did the user incur for receiving Layer Zero tokens?

The user had to pay a $0.10 donation for every token received, which was necessary for claiming the funds.

Why did the user decide to sell their Layer Zero tokens after the drop?

The user sold the tokens to take profits and because Layer Zero was not part of their long-term portfolio strategy.

How did the user allocate their profit from the Layer Zero token sale?

The user allocated $1K for purchasing more assets and sent $2K to their bank account for their residence process.

What was the initial market cap target for Layer Zero mentioned in the script?

The initial market cap target for Layer Zero was between $1 billion and $1.5 billion.

Why did the market cap of Layer Zero not reach the user's target immediately?

The market cap did not reach the target immediately because instead of using 100 million tokens, 250 million tokens were used, which affected the market cap calculation.

What was the circulating supply of Layer Zero tokens at the time of the script?

The circulating supply at the time was 250 million tokens, which was 25% of the total supply.

What was the user's prediction for the future price of Layer Zero tokens?

The user predicted that the price could potentially reach $10, which would correspond to a market cap of around $2 billion to $3 billion.