Hello everyone! I'm Xingchen. Blockchain technology is changing the world. In this article, I will discuss the following three ways: participating in testnets, joining DAOs, and using DEX.
I hope today's content provides you with practical advice to help you seize future opportunities! 🔥
Step 1: Participate in the testnet to seize early benefits 🧪💡
★ What is a testnet?
A testnet is a 'test field' for blockchain projects before officially launching on the mainnet. It provides developers with a testing platform and allows users to experience project functions in advance, which are often not fully launched yet. For ordinary users, the testnet is a zero-cost experimental field—where you can engage with cutting-edge technology without any risks.
★ What are the benefits of participating in testnets?
Generous Airdrop Rewards 🎁: Many projects airdrop token rewards to early testnet participants before launching on the mainnet. For instance, early users of Arbitrum and Optimism earned substantial token rewards by participating in testnet activities, with returns reaching thousands of dollars!
Advance Understanding of Project Potential 🔍: By participating, you can learn about the project's actual operations, technical performance, and user experience, accumulating first-hand information for future investment decisions.
Build Community Influence 💬: Active participants in the testnet often gain favor from project teams and can become influential community members when the project officially launches, even participating in decision-making.
★ How to efficiently participate in testnets?
Get Real-Time Information 📲: Follow developments in the crypto industry and track the latest testnet projects and activities through Twitter, Reddit, and Discord.
Participate in Testing Tasks 🔧: Most projects will provide specific tasks and guidelines; complete the tasks as required and report bugs to ensure the quality and experience of the testnet.
Multi-Faceted Participation 🏅: Not only testing but also writing test reports and providing feedback will increase your exposure and enhance your standing in the community.
Step 2: Join the DAO and take control of decentralized power 🗳️👑
★ What is a DAO?
DAO (Decentralized Autonomous Organization) is an innovative organizational structure in the blockchain world. Unlike traditional companies, it is completely managed collaboratively by community members, with all decisions made through smart contracts and community voting. By joining a DAO, you are not only a user of the project but also a 'shareholder'; every vote you cast may impact the future direction of the project.
★ Why join a DAO?
Governance Power 🏛️: By holding governance tokens, you can vote on major decisions for the project, including fund usage and development direction. DAO empowers each member with real decision-making authority.
Meet Industry Elites 🤝: DAO is an excellent place to interact directly with top talents and project founders in the crypto industry. Joining a DAO means you will grow in a community full of innovation and idea collisions.
Potential Economic Benefits 💵: DAO members not only participate in decision-making but can also benefit from project development. For example, some DAOs issue token rewards or dividends to members who actively participate in governance.
★ How to efficiently integrate into DAO?
Choose a DAO that suits you 🎯: There are many DAOs; it's crucial to select one that aligns with your interests, skills, and values. Large DAOs like Uniswap DAO and Aave DAO are already very mature, while some smaller project DAOs may offer you more opportunities to voice your opinion.
Actively Participate in Proposals and Voting 🗳️: The core of a DAO lies in consensus and participation. Regularly participate in voting and provide practical advice or proposals for the community to demonstrate your value.
Contribute Professional Skills 🛠️: Whether developing code, designing user experience, or conducting marketing, each DAO needs different types of contributors. Showcase your strengths and become an indispensable part of the community.
Step 3: Use DEX trading to take control of assets and investments 💹💥
★ What is a DEX?
Decentralized Exchanges (DEX) are trading platforms that do not require intermediaries, with all transactions executed automatically through smart contracts. Unlike centralized exchanges (CEX), DEX gives you complete control over your assets during trading without needing to trust any third party.
★ Why use DEX?
Full Control of Funds 🔐: On DEX, your assets are always stored in your own wallet, unaffected by the risks of third-party platforms.
Decentralization, Freedom of Trade 🌍: DEX allows anyone to create trading pairs and trade freely, avoiding various restrictions of centralized platforms.
Participate in Innovative Tokens 🪙: Many emerging projects launch their tokens on DEX platforms first, allowing you to become an investor or supporter in the early stages of these projects.
★ How to effectively use DEX trading?
Choose the right DEX platform 🌐: Select the appropriate DEX platform based on your needs, such as Uniswap for Ethereum, PancakeSwap for BSC, and Sushiswap for multi-chain trading.
Understanding Gas Fees and Trading Strategies ⛽: Gas fees on Ethereum can be high; consider low-fee platforms like Polygon or Binance Smart Chain.
Liquidity Provision and Risk Control 💧⚖️: By providing liquidity pools for DEX, you can earn trading fees, but also be wary of the risks posed by impermanent loss.
🚦 Comprehensive Advice: How to strategically layout from testnet to DAO, and then to DEX? 🌐💼
Combine Testnet with DAO 💡: While participating in the testnet, join a DAO to understand the governance structure and community atmosphere behind the project, providing deeper insights for future investment decisions.
DEX and Liquidity Mining 💎: Tokens accumulated through DEX trading can also provide liquidity, generating additional income and forming a virtuous cycle.
Learn and Share 📝: Record your testing and investment experiences, and share them through blogs, social media, etc., gradually building your industry influence. You could even become a KOL in the crypto industry!
Opportunities belong to those who actively participate 🌟
In the crypto industry, only those who actively participate and dare to try will seize more opportunities. Early participants are often the biggest beneficiaries, whether experiencing innovative technology, accumulating industry experience, or seizing airdrop or investment opportunities—participation is key. 💡
I'm Xingchen. I hope this article helps you become familiar with some basic knowledge of the crypto world. If you are interested in a particular project or technology, feel free to leave a comment, and we can discuss it in depth! 👩💻👨💻