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.

Outlines

00:00

💰 Token Sale and Profit Realization

The speaker discusses their experience with the Layer Zero (LZR) token drop, highlighting the challenges faced during the claiming process due to high gas fees and technical issues with multiple chains. They managed to claim their tokens and sold them before the trading started, using a limit order at $5.30, which resulted in a profit of around $3.2k. The speaker also mentions the additional cost of a $0.10 donation per token, which was necessary for claiming. Despite the fees, they consider the outcome profitable and share their strategy of taking profits and reallocating funds to other investments and personal needs.

05:01

📉 Market Analysis and Future Predictions

In the second paragraph, the speaker provides an analysis of the LZR token's market performance post-sale. They note that the token opened at a market cap of $1 billion and reached a peak of nearly $1.2 billion, but later settled at around $868 million. The speaker speculates on the potential for the token's price to rise to $10, which would correspond to a market cap of $2 to $3 billion, though they acknowledge that this might not happen in the immediate future due to ongoing selling pressure and the need for market recovery. They also reflect on their overall experience, starting with a small investment and consistently making profits, and express satisfaction with their financial outcomes.

Keywords

💡Layer Zero

Layer Zero is a term used in the context of blockchain technology, referring to a specific project or protocol that aims to enhance interoperability between different blockchain networks. In the video, the speaker discusses the release (or 'drop') of tokens associated with the Layer Zero project, indicating a significant event for investors and participants in the crypto space.

💡Tokens

Tokens in the context of this video represent digital assets on a blockchain, which can have various uses such as representing ownership, access rights, or as a means of exchange. The speaker mentions selling their tokens, which is a common practice in cryptocurrency to realize profits or adjust one's investment portfolio.

💡Arbitron

Arbitron, likely misstated as 'Arbitrum' in the video, is a blockchain platform known for its focus on scalability and security. The speaker mentions high gas fees on Arbitrum, which are transaction costs required to perform operations on the blockchain, indicating a potential barrier to entry for some users.

💡Gas Fee

A gas fee is the cost required to perform transactions on a blockchain network. In the video, the speaker describes an increase in gas fees to $150, which is a significant amount and can affect the profitability of transactions, especially for smaller investors.

💡Optimism

Optimism is a layer-2 scaling solution for the Ethereum blockchain that aims to reduce transaction costs and increase throughput. The speaker mentions that Optimism 'stopped working,' suggesting that there were issues with claiming tokens or performing transactions during the Layer Zero token release.

💡Binance

Binance is a major cryptocurrency exchange platform where users can trade various digital assets. The speaker mentions sending funds to Binance, which implies using the platform as a place to sell tokens and potentially convert them into fiat currency or other cryptocurrencies.

💡Limit Order

A limit order is a type of order used in trading where a seller sets a specific price at which they are willing to sell their assets. The speaker used a limit order to sell their tokens at a predetermined price of 5.30, demonstrating a strategy to secure a specific profit level.

💡Portfolio

In the context of investing, a portfolio refers to a collection of financial assets such as stocks, bonds, or in this case, cryptocurrencies. The speaker discusses Layer Zero not being part of their current portfolio, indicating a strategic decision based on their investment goals and priorities.

💡Donation

In the video, the term 'donation' refers to an additional fee of $0.10 for every token received, which the speaker was required to pay as part of the token claiming process. This fee is presented as a necessary expense for participation in the Layer Zero token release.

💡Market Cap

Market capitalization, or market cap, is the total value of a company or asset, calculated by multiplying the total number of shares or tokens by the current price per share or token. The speaker discusses the market cap of Layer Zero tokens, which reached up to $1.8 billion, providing insight into the perceived value of the project.

💡FOMO

FOMO stands for 'Fear of Missing Out' and is a psychological phenomenon where people feel compelled to participate in events or trends for fear of missing a potential opportunity. The speaker anticipates that FOMO could drive more buying activity in the Layer Zero tokens, potentially increasing their price.

Highlights

The speaker has sold all their Layer Zero tokens and will explain the reasons behind the decision.

Arbitrum experienced high gas fees of up to $150, affecting the process of claiming tokens.

Optimism and BNB stopped working for claiming tokens on multiple chains.

The speaker managed to claim the first token quickly but had to wait 20-30 minutes for subsequent claims.

Funds were sent to Binance with a delay of around 60 minutes.

The speaker sold their tokens at $5.30 before trading started using a limit order.

A total profit of around $3.2k was made from Layer Zero tokens.

The initial investment in Layer Zero was approximately $300-$400.

A donation of $0.10 per token was required to claim tokens, adding to the overall cost.

The speaker decided to sell the tokens to secure profits and because Layer Zero is not part of their current portfolio.

The speaker allocated $1K for further investments and $2K to their bank account for personal needs.

The speaker is in the process of establishing residence and requires funds in their bank account.

The speaker speculated that Layer Zero could open at a market cap of $1 billion to $1.5 billion.

The actual market cap at opening was almost $1.2 billion, starting with 250 million tokens.

The speaker believes Layer Zero's price could reach $10, but not within the next few hours due to selling pressure.

The speaker started with $40 in 2023 and has been profitable each month since then.

The speaker encourages viewers to ask questions or share doubts about the process.

Transcripts

what up guys so after all the drama all

the BS we finally got the Y drop for

layer zero I already sold all my tokens

and I'm going to explain in just a

second why but most likely if you did

the process you know that Arbitron the

gas fee went up to

$150 that was the highest that I saw

optimism stopped working BNB stopped

working because basically we were able

to claim our tokens only chain so that

means on multiple

um chains but guess what really all of

them stopped working I was able to claim

the first one within a few minutes but

after people start jumping in and

claiming I had to wait for maybe 20 30

minutes to claim my tokens so what I did

is I sent my funds to binance they also

had a delay of around um yeah 60 minutes

an hour so I had to wait send my funds

by the way I didn't receive all all my

funds so I still had to wait to sell my

other funds but luckily enough luckily

enough and there is a lesson here is

that I sold my tokens at

5.30 so before the trading started what

I did is just I just typed 5.30 added x

amount of um coins that I was planning

to sell and used a limit order because I

said you know what what is the worst

thing that can happen let me just try

the second trading open I just clicked

sell and guess what I got filled so the

majority of my token I actually sold it

at 5.30 and then I got two smaller

allocation that I sold around 420

between 420 and 440 so in total I am

around 3.2k in profit for ler zero or

the total that I made from ler zero is

around 3.2k so to be honest not bad

after reviewing my fees on layer zero

not too crazy because I think have spent

maybe less than 400 bucks for ler Zer

maybe 300 400 bucks in total so still

that that's a pretty good profit right

around 8 x's on the amount of money that

I spent on the platform so that would be

number one now number two is that we

also had to pay donation which is kind

of crazy so for every token that you

receive you had to pay

$0.10 so 10 cents for every token which

they're just using these funds for I

don't know um helping developers

building more things I don't know I'm

not really interested but we had to pay

it and it was necessary for you to claim

or it is still necessary for you to

claim your funds so uh guess what you do

need some funds if you do need to claim

your your tokens I think in total I

spent uh well actually I got close to

700 tokens so I would say around maybe

65 67 bucks is what I spent on donation

so hey

hurts obviously I would love to not pay

the donation but still I still made a

profit so I'm cool with it now why I

sold my tokens is first of all um

usually I just like to do it just to

take my profit out and obviously you

guys can see that the price um crashed

so that's a good thing second is that

layer zero is not really in my portfolio

so if I'm creating a portfolio today and

I am planning to to hold some tokens for

the long term ler zero is not there um I

might add it in the future but at the

moment it is not my top priority so

that's why I'm not holding it it might

go up I don't know it might do good I do

think so yeah Mo most likely yes but for

me I do have all the priorities right

now so what I did is I took 1K and I per

well I'm planning to purchase a few more

things and then I took 2K and send it to

my bank account I have mentioned that

before so currently I'm doing my

residence process so I do need some

funds in my account so unfortunately Ely

I cannot show proof of income um using

my crypto wallet so obviously I do need

some funds um in my bank account but

other than that to be honest it did okay

um because last video I mentioned

that um it could open at $10 and guess

what I was actually well actually we

talking about the market cap which was

around $1 billion up to 1.5 which was my

target but what they did is instead of

using 100 million tokens they started

with

250 million tokens which is um 25% of

the total Supply so what they're saying

is that around 11% 133% is not going to

be used currently because that is

allocated for future grants future a

drops F future incentives and everything

else but still that is still circulating

Supply it doesn't matter if you're not

using it

today it is still circulating Supply

like right now if I have one e in my

wallet and I say that I'm not going to

sell it is it not circulating Supply it

is the same right so best thing

that they could have done is

probably vesting that amount for the

next 3 to 6 months they didn't so again

it opened at 250 million tokens and if

you look at the market cap it actually

went to 1 billion currently it is

sitting at 868 million um where's the

price

uh I got

loss oh price is up here you guys cannot

see it

3.48 is the amount and let's go ahead

and look at the market

cap real

quick so this went up to $1.8 billion so

almost 1.2 billion dollar so not but

right there at the Target so right now

it is sitting at

868 to be honest I I do

think it can go up most likely but again

there is still a lot of people claiming

selling so not 100% sure if this is

something that is about to happen um

within the next few hours right so most

likely we still need some more people

selling just like myself and then um we

still need the market to recover a

little bit but most likely this can go

to $10 because $10 would be less

than uh $3 billion $2 billion to $3

billion yes more or less less than that

so yes it is completely achievable but I

don't think it will be over the next few

hours most likely once it starts we will

get some fomos some some people buying

in so they can make some profit but most

likely it should reach that amount maybe

$9 I would say uh but don't expect it to

be within the next few hours so yeah

there you go another profit for me I'm

pretty cool with the amount again 3.2k

nothing to be shy about

um still some profit it is way less than

what I spent on the platform so

obviously I'm taking that and I will

just continue to farm if um things stop

obviously I'm stopping farming but at

the moment I have been making profit

each single month um Sometimes good

sometimes okay but again I'm still in

profit and you guys already know the

story that I started with $40 and I've

been using the same amount of money over

and over and over since 2023 so I'm cool

with it so there you go guys uh any

questions any doubts just let me know

hopefully you guys did good really hope

so thank you guys for watching bye-bye