Today someone has hit a hundredfold token, but tomorrow a project may quietly rug (run away). The on-chain world is full of opportunities and risks, while traders on Twitter each have their own styles:

  • Some are keen on PVP (player versus player competition).

  • Some are busy building new projects.

  • Some are searching for the next 'golden dog'.

Over the past year, the voice of the secondary market has gradually calmed down. Aside from the early-year AI/Meme craze and the potential upcoming altcoin season, for most of the time, the wealth effect has either weakened or disappeared completely.

This guide will take you into the world of on-chain trading—helping you quickly get started, avoid pitfalls, and seize new wealth opportunities.

1. Why Learn On-Chain Trading?

1. Polarization of Wealth Effect: Dumbbell-shaped Market Structure

Top assets like BTC, ETH, SOL still have long-term value.

Long-tail assets like on-chain meme projects are explosively powerful in the short term, suitable for short-term hunting or mid-to-long-term layout. In contrast,

It is becoming increasingly difficult to trade altcoins on exchanges, most of which exhibit a ‘distribution upon listing’ pattern. To seize explosive wealth growth, on-chain is the source of opportunity.

2. Master New Tracks and Keep Up with Market Rhythm

From DeFi Summer to Meme Craze, and then to the BTC ecosystem and AI Agents, every wave of new trends has emerged on-chain.
On-chain is the weather vane for future tracks. Learning to operate on-chain is not only an embrace of new trends but also a necessary path for wealth leap.

2. Can You Really Get Rich On-Chain?

1. Opportunities and Challenges Coexist

On-chain is indeed full of myths about getting rich, but it also hides dangers. If you want to make money on-chain, you need to be mentally prepared for trial and error (you may incur losses). Invest a lot of time and energy in continuous learning and practice.

2. Start with Small Capital and Gradually Progress

Beginners should avoid investing large amounts of capital at the beginning.
A wiser approach is:

  • Start trial and error with small amounts of capital.

  • Accumulate experience and steadily improve.

3. Basic Operation Guide: From CEX to On-Chain Trading

1. Configure Your On-Chain Tools

  • Recommended Equipment: Operation on a computer is more efficient; the amount of information on-chain is large, and it is difficult to rely solely on a mobile phone.

  • Recommended Wallet: Taking the Solana chain as an example, it is recommended to use the Phantom wallet extension with the Chrome browser.

  • Download Address: phantom.app/download

Important Tips About Mnemonic Phrases:

  • Mnemonic phrases are the 'keys' to your on-chain assets; please record them in a physical notebook, do not screenshot or store them on connected devices to avoid being hacked.

  • Properly safeguard mnemonic phrases to ensure you can easily recover assets in the future.

2. Transfer Coins from Exchange to On-Chain Wallet

  1. Open the Phantom wallet extension and copy your SOL address.

  2. Log in to the exchange, select the withdrawal function, paste the wallet address, enter the withdrawal amount, and confirm.

  3. Test small amounts for the first withdrawal, and only proceed with larger amounts once confirmed.

4. Finding Trading Targets and Completing the First Transaction

1. Choose Trading Tools

It is recommended to use the GMGN platform, where you can check market trends and complete transactions.
Access Address: https://gmgn.ai/?ref=Fj4rRxgK

2. Complete Your First On-Chain Transaction

  • Connect Wallet: Click the 'Connect' button on the GMGN platform, select the Phantom wallet, and complete authorization.

  • Adjust Slippage: The default slippage is 3.5%, it is recommended to adjust it to 0.5% to avoid unnecessary losses.

  • Buying Operation: Enter the purchase amount, click 'Buy', and sign the transaction confirmation in the wallet.

  • Selling Operation: Enter the selling amount, click 'Sell', and complete your first on-chain transaction!

5. Delving into Core Concepts on Chain

1. Community and Raiding

  • In the Meme community, especially in Telegram groups, 'raiding' is a common marketing tactic:

    • Like, share, and interact to increase token exposure and attract more capital.

2. Hot Markets and Sustainability of Hotspots

Hot markets refer to tokens that surge in the short term due to certain events or social media trends.

Key to Judging Hot Markets: Can the narrative be sustained? Can market funds continue to flow in?

3. Slippage Settings and Sandwich Bots (MEV)

Slippage: The difference between the transaction price and the expected price.

Low Slippage (0.5%) can avoid being attacked by bots.

High Slippage (10%) is suitable for quick trading in popular markets.

Anti-Sandwich Mode: Effectively avoid sandwich attacks through GMGN's MEV protection.

6. Tracking Smart Wallets and Potential Targets

1. Track the Operating Strategies of Smart Money

Follow KOLs, VCs, and active wallet addresses, track their operations, and learn their investment logic.

Bind Telegram notifications to grasp the trading dynamics of target wallets in real-time.

2. Choose Targets and Scanning Strategies

Chain scanning is the best way to track internal and external market targets.

New internal market targets: Higher risk.

Stable External Market Targets: Lower risk, but opportunities still exist.

Summary: The Wealth Code on Chain

On-chain trading is a contest of vision and speed.

Accurately identify targets and seize hotspots and trends.

Follow smart wallets and learn from the operation strategies of top players.

Every step is a possibility towards financial freedom. But remember, opportunities on-chain coexist with risks; careful exploration and steady progress are the keys to victory.