Almost a year ago, I blew out pretty much my entire portfolio.
I was financially forced to move out of my first owned home and move back in with my parents. I'd never known defeat the way did that day, face to face. What was once a symbol of victory quickly turned into my biggest failure.
A lot of things went through my mind those days. Where did I go wrong? Should I get a job? Is crypto even the right industry to pursue? Do I actually know what I'm doing or did I simply get lucky? Should I just give up?
Nah, I wouldn't give up. I was determined to understand where I went wrong and what could I do to stop that from happening again. After all, if you've hit rock bottom, the only way is up - and if there was an industry where you could bounce back the hardest, crypto is the one.
Today, I've finally paid off all my debt and my portfolio is at aths.
I couldn't be more grateful of the lessons I learned the last two years, by far the hardest of my life. It taught me to be grateful, humble, disciplined, and to help others in need.
Can't wrap this up without thanking the one person who helped me the most, @MiKeMeUpP, and my friends over @spiritdao , @gcblur and @Mona_Collective , love you all ❤️.
"Dry your eyes and look ahead. You may feel like digging your heels in, but the flow of time waits for no one. It won’t patiently stand by as you grieve. Grit your teeth and look straight ahead." -Kyojuro Rengoku
How we made $5m profit using $600k capital in 50 days farming Blur Season 1 with almost zero knowledge in NFTs.
It’s Xmas holidays 2022. We are skiing in Megève with family and are already starting to be bored. Not much happening in crypto. I check quickly what a MEV competitor is doing on-chain and I see he’s farming Blur, new NFT marketplace backed by Paradigm.
I have almost zero knowledge about NFTs at this time, just know BAYC and Punks are the shit, not much more. I’m like okay why not trying to farm it manually first to understand how it works. Then we can try to code a bot if it looks interesting.
First few days, I’m bidding manually while skiing and enjoying life, just bidding and leaving for a few hours. Quite wild but market is slow at this time so it’s not that bad.
I’m creating multi accounts to try to game the system, creating fake volume and stuff. Nothing really interesting.
Xmas holidays are ending and I’m starting to feel like there’s a clear opportunity here to cook. We don’t have any API access to Blur and my brother doesn’t have much experience in this.
I find 2 devs I met IRL a few years ago and I instantly tell them guys there’s a 7 figs opportunity here (not sure at all at this time, but gotta make them FOMO) I need your help. They check what they can do and they think of a google chrome extension to bid depending on a few parameters I tell them to add.
Parameters are quite basic: I can choose number of bids, number of bidders, max price, size.
First versions are super hectic. The google chrome extension is clicking on Blur website buttons to bid and cancel. I’m running this shit days and nights debugging this trash extension with them.
With my bro, we are used to work 24/7 when needed, if there’s an edit to be made on Sunday at 3 am and I need to wake him up, it will be done, no single doubts. With them, everything is quite slow, dude is like ‘there’s the birthday of my wife this weekend’ when I ask for some edits and it drives me fucking crazy considering the opportunity.
Mid-January, my brother is starting to feel FOMO and really wanna help me in this stuff. He starts to learn more about google extensions and nodejs. Quickly, he’s able to dev a new version much more stable and faster. We start working hard on parameters to improve our strategy.
At this time, the competition is very very chill, not much people are farming Blur. I notice that we are actually 3 farming it for real. Deep down, this farming stuff is just a hot potato game where we jeet our NFTs inventory on each other. So I’m starting to think of a way to dodge them so we get filled the least possible and put pressure on them.
On Blur, if you want to dump your NFTs into bids, you can’t bid at the same time. So I’m thinking of a ‘watchlist’. When a competitor has more than X BAYC for instance, we only bid when he bids, and remove as soon as possible when he removes too, meaning he can’t dump on us and he’s dumping on the other main competitor.
At the same time, a friend is telling me Blur is currently raising at a 700m-1b fdv. I’m like holy shit, gotta hustle this till the end because people are clearly fading this.
We introduce the watchlist last 2 weeks of Season 1, we are able to dodge most NFT dumps. Very intense last two weeks, I sleep maximum 4 hours per night, I’m an absolute zombie but we are farming a shit ton of points. Looking back, we were printing $200k daily profit during these days. We were farming with approx. $600k capital and lost $160k.
Last week before TGE, some instits and CEXs are reaching out trying to buy our unlocked bags at 700m FDV. We say no thanks.
Season 1 finally ends and while most people are rushing to dump at 1.5b fdv, we are quite bullish on $BLUR since NFTs are doing quite good and this shitcoin can attract capital from both NFT and shitcoin world.
We jeet’d everything a few days later above $1 (3b FDV) for a net profit of $5m. Nice way to start the year.
Not gonna say much, but here is the result of farming in the past few months. 99% of focus was on mainnet blur...
Ranked in the Top 17 overall on BLUR.
Didn't put as much focus on BLAST unfortunately.
Got 2.3b blast points and 40k gold (without ref).
Pray everything goes well.
Ending my Blur Farming season 3 now, after the latest news.
I managed to farm 86k points with a total loss of about 29e, therefore with a cost per point of 1,15$.
Happy with the results? Definetely not since we will only get a 0,5% (vested for me) allocation which probably will mark the end as blur farming as we know it aka the game of the hot potato.
Anyway, a big thanks is owed to @FlowToolsPro and @CreedAlpha_NFT for the constant support and for building the fastest bot!
Same goes for @gcblur for actually helping me making wiser decision while farming thanks to their analytics!
also special thanks for sharing the journey with me @putsncalls24 @blurfarming @nyaxeth@cbbeyes and all the others degens!
And as the goat @ESK_NFT once said "what if redacted is the friends we made along the way?!"
Well, turns out that was the true redacted LMAO
Wow, what a journey the past 2 months has been. I ended @Blast_L2 season 1 with roughly 190k gold and 3.2billion blast points using approximately an average of 250 eth with zero net loss after all of the coin/nft gains I made on the platform (this means I used roughly a 250 eth average at all times in various protocols and have 250+ eth remaining as i'm in profit overall). This gold count does not include gold from blur on blast bidding as that has yet to be distributed and I farmed that passively for most of the season. Twitter only allows 4 screenshots so here are totals from 4 accounts with remainder in the numerous other accounts I farmed with.
I'm going to post a few thoughts below based on my experiences the past 2 months:
In the 3 year's I've been in this space, I have to say @Blast_L2 farming has been the most unique experience i've been apart of to date. Never would I have thought I would be part of such a sophisticated farm which required me to learn and have exposure in every single aspect of crypto (gaming, defi, ponzi, nfts, gambling, etc). Although extremely frustrating at times, it has been an overall amazing experience that has challenged me significantly in critical thinking, finding opportunities and overall deep diving and learning about ecosystems/dapps I would have otherwise never even considered diving into if it were not for blast farming.
My strategy on @Blast_L2 has always been summarized as this: when others zig, I zag. Since day 1, I knew I did not have the size to compete against the giga whales that had deposited 2k+ eth. This meant any large protocols like Juice, Orbit, etc was not worth it early on as it would be very diluted from said whales depositing heavily day 1 as they wouldn't have the time nor care about the smaller projects. This led to diving into the trenches and researching each and every single project and finding inefficiencies within all of the promising protocols/dapps that were waiting to be discovered. This led me to discovering gems like @capncompany, @memedotfun, @insrtapp, etc which were all heavily under farmed. My thesis was, under farmed dapps would yield the same gold as the big fishes would with 100x less required capital. I also looked at any projects that were slowly trending up on the gold count given by the Blast team on a weekly basis and pushed to farm those projects heavily to front run the next big wave of gold they may have gotten. These two strategies were what I abided by the past 2 months and it has paid off.
There's a reason Blast is the fastest growing L2 and love it or hate it, the ponzi of Blast points and gold has provided very in depth farming and has gotten many of us to use these products on a daily basis. We can agree alot of these protocols are ass. But there are some great gems and great protocols that many of us will use even after farming ends. The beauty of this chain and why I genuinely think with native yield, continued incentives (season 2 I assume will be a thing), and the grand vision from Pacman to be revealed soon for the chain, Blast will continue to grow and evolve at a rapid pace.
The market is currently in a really shoddy spot and there's a high chance $BLAST token price opens under what many hopes it opens at. But as i've said with Pirate Nation, pixel farms and various other projects where I have made a good sum of money from, all you can do is invest in founders that provide users with value and continue to grow and develop in this space. @PacmanBlur has provided me with gen wealth already with $blur season 1 airdrop and $blur season 2 airdrop. Why would I ever fade him? Blast gold worth $2? $4? $6? $8? I don't care, either way it's been a fun ride and if price action opens low, I will hold every dollar of my airdrop until we reach prices that are logical in my opinion. Will continue to let the man himself cook and be along for the ride.
Good luck everyone and fingers crossed!
Finished @blur_io S3 at rank 23 with ~77k points and a $1.76 cost per point.
It was a challenging 7 month grind. Looking forward to fixing my sleep schedule 😂
Thank you to @gcblur and @FlowToolsPro for everything 🐐👨🌾