Revealing My LayerZero Airdrop Profits
Summary
TLDRIn 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
- π The speaker successfully claimed their LayerZero (ler zero) tokens amid technical issues with gas fees and network congestion.
- π° The speaker sold their tokens before trading started, using a limit order at $5.30 to secure a profit.
- π The speaker made a total profit of around $3.2k from the LayerZero tokens, which is an 8x return on their initial investment.
- π There was an additional cost of $0.10 for every token received as a donation, which the speaker reluctantly paid to claim their tokens.
- π« The speaker chose not to hold LayerZero tokens long-term as it is not currently in their portfolio priorities.
- πΌ The speaker allocated $1K for further investments and sent $2K to their bank account for personal financial needs.
- π¦ 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.
- π 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.
- π€ 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.
- π The speaker started with a $40 investment in 2023 and has been successfully farming profits each month, sometimes good, sometimes okay, but always profitable.
- π 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
π° 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.
π 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.
Mindmap
Keywords
π‘Layer Zero
π‘Tokens
π‘Arbitron
π‘Gas Fee
π‘Optimism
π‘Binance
π‘Limit Order
π‘Portfolio
π‘Donation
π‘Market Cap
π‘FOMO
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
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