No nonsense: About participating in new launches ❶ Participating in new launches is like 1.5-level investing. Investments come with risks, so proceed cautiously. ❷ There are only two ways to earn returns above the annualized rate through new launches: thresholds or strategy. Thresholds could include things like Buildpad’s qualified KYC channels, Kaito’s early staking/allocation setup, or Legion’s social reputation/technical contributions. Strategy could involve something like Hana on Kaito, where most people are pessimistic or the risks are higher, and you also need to learn how to use leverage tools for hedging. Example: We stuck to a small Yap Hana account with a $100,000 investment and got a $38,000 allocation (a mix of threshold + strategic mindset). With a cost of $0.04, we chose to hedge immediately at around $0.16. In summary: If you want to participate in new launches and aim for returns above the annualized rate, practice writing, stick to writing, and stay active on Twitter. No arguments accepted!