2025: How to Do Investment Research in Web3

First, what is investment research? We can think of it as the process of thinking and planning before taking action. In simple terms, it is about how to choose projects, decide which airdrop activities to participate in, and which to forgo, as we cannot participate in all projects. For example, why do some people see substantial returns from the projects they participate in, while I see minimal gains from mine? Suppose each person can participate in ten projects per week, their success rate might be 70%, while mine is only 30%. This is the essence of investment research. Nowadays, the airdrop industry is no longer an era of casual participation or mindless following. Even with experts selflessly sharing, it is difficult to track all opportunities. Especially with the rise of content mining, distinguishing between true and false information is challenging. Therefore, how to filter projects and invest effort has become a key issue.

1. Timing (Early Stage)#

Early participation ensures compliance with airdrop snapshot rules; otherwise, subsequent efforts may not bridge the gap.
"The earlier you participate in all dApps within the ecosystem, the more potential rewards you can obtain."
Early involvement is crucial; if I miss the early stage, I would rather give up on the project than waste my efforts.

Three Examples:#

① In the strknet project, I joined too late, missing the minimum airdrop requirements by just a few days.
② In the zkbridge project, I only entered after the Panda King Odyssey ended, causing me to miss the key Panda King NFT airdrop criteria and only receive a small amount of low compensation.
③ In the initia project, I was unable to join later stages because I did not participate in the first phase, resulting in zero returns.

2. Investment Amount and Team Endorsement (Market Consensus)#

Projects that have raised over ten million yuan and are led by top institutions like a16z and Binance Labs often offer more generous airdrops.
Projects that involve or are endorsed by key components of public chains (such as DEX), like Jupiter on Solana and Walrus on Sui, also tend to have higher premiums when launching airdrops.

The investment amount and team must have strong backing (this reflects the market consensus and the first-level market's support).

① For instance, projects with funding exceeding ten million and led by a16z or Binance are usually more reliable. As a leading trading platform in the crypto market, Binance has a higher probability of listing its invested projects, which can bring higher premiums and exit liquidity.
② Regarding team support, key components of public chains like DEX (equivalent to the "hands and feet" of public chains) often exhibit significant wealth effects if they receive participation or endorsement from the public chain team. For example, the position of Jupiter in Solana and Walrus in Sui leads to higher premiums during airdrops, based on the logic that projects with ample funding are more likely to be generous with airdrops.

3. Track Imagination (Mainstream + Core)#

Aligning with current mainstream narratives (such as L2 in 2023 and DEX in 2024) helps attract hot money and community participation.
"Content mining" is becoming a popular track in 2025, where everyone can publish articles to earn rewards, thus driving enthusiasm and capital inflow.

Track imagination (aligning with mainstream and core, which is also the style of the current market's profit effect).

For example, the mainstream narratives of L2 for Ethereum scaling in 2023, DEX in 2024, and content mining in 2025 (where anyone can become a KOL by conducting project research and publishing articles for rewards) can attract speculative capital and participation, enhancing community activity and popularity.

4. Cost Accounting (Difficulty Level)#

For small players with limited funds, projects with low thresholds and no lock-up periods are optimal, losing only time and not principal.
Over-staking or relying on interaction types like check-ins can lead to total loss from a single contract accident.

Cost accounting (profit-loss ratio). If a project is good but I cannot participate, it may not be a good choice. For example, check-in projects are unfavorable for those without technical means; staking projects may lack safety and risk control for small fund users, potentially resulting in nine profitable instances out of ten, with one theft by the project party leading to total loss. Therefore, I prefer projects with lower costs, losing only time rather than principal.

To succeed in airdrops, one needs to carefully select projects in the early stage, continuously track and persist in execution during the mid-stage, and only then can one reap the rewards in the later stage. As the returns in the airdrop industry decline in 2024, the number of participants in airdrops in 2025 has decreased overall, with more people exiting this long-cycle, high-investment, time-consuming activity. Remaining participants are gradually shifting towards targeted exchange airdrops or low-investment KOL airdrops. For those who continue to persist, investment research is no longer just about looking at funding and teams but requires more strategies. Perhaps when this model fades away, new narratives will emerge, but for now, we can only continue to try. Only by participating personally can one judge the quality of projects and identify scams. However, the type of airdrop method that is highly certain, low in difficulty, time-saving, and allows manual operation of hundreds of accounts may no longer exist. Where do we go from here? This is a question worth pondering.
from——@Beijing Teacher

🔥 Solving the Issue of Inaccessibility to OKX Exchange in China#

Many exchanges' original domain names may be on restricted lists or affected by slow access due to servers being located overseas. Ordinary users may feel confused and even suspect that there is an issue with the exchange itself. In fact, this is often due to network environment restrictions rather than platform service interruptions. To address this, exchanges like OKX and Binance regularly update backup domain names to ensure users can access the official website through alternative addresses.

1. OKX backup domain Overseas OKX - Need to use VPN or Alternative link
1. Binance backup domain Binance
1. Bitget backup domain Bitget
1. Bybit backup domain Bybit/Bybitglobal
1. Huobi HTX backup domain Huobi/HTX
1. Gate backup domain Gate.io

🔥 Further Reading#

The Latest Ranking of the Top Ten Virtual Currency Trading Platforms in China for 2025 is Out 🔥【Worth Collecting】

【Real Stories of Wealth in the Crypto Circle】 Many people ask me, after years of trading cryptocurrencies, how did I go from 0 to 11 million and then to a debt of 100,000?

🔥 Useful Tools for Alpha Finding#

1️⃣ Axiom Dog-Charging Tool https://axiom.trade
2️⃣ Gmgn Dog-Charging Tool https://gmgn.ai
3️⃣ dbot Dog-Charging Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com

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