How to do investment research in Web3 in 2025

What is Investment Research?#

Investment research can be understood as the process of thinking and planning before taking action, with the core focus on selecting projects and formulating plans. In simple terms, it is about how to choose projects and decide which ones to participate in and which ones to avoid, as we cannot participate in all of them.
For example, why do the projects that other teachers participate in yield high returns, while the ones I participate in yield low returns? Suppose each person can participate in ten projects per week, and the success rate for teachers is 70%, while mine is only 30%? This is the value of investment research.
Nowadays, the airdrop industry is no longer an era of casual participation or blindly following trends. Even if teachers selflessly share all information, we cannot fully keep up. Especially after the rise of content mining, distinguishing between true and false information has become more challenging. Therefore, how to filter projects and allocate resources has become a key issue.

1. Timing (Early Stage)#

Getting involved early 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."
The early stage is crucial; if missed, I would rather give up on the project, as it is likely to be a waste of effort.

Three Examples:#

① strknet: I got involved relatively late, just a few days away from the airdrop rules, and failed to meet the minimum tier conditions.
② zkbridge: I only entered after the Panda King Odyssey ended, resulting in not obtaining the key airdrop standard, the Panda King NFT, and only receiving a small amount of low guarantee.
③ initia: I did not participate in the first phase and could not join later, 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 have more generous airdrops.
Projects that are key components of public chains (like DEX) and have participation or endorsement from them, such as Jupiter on Solana and Walrus on Sui, often come with higher premiums when launching airdrops.
The investment amount and the team must be strong enough (this reflects the primary market's backing and market consensus).
① For example, projects that have raised over ten million yuan and are led by investors like a16z or Binance are better; projects invested by Binance are more likely to launch on Binance, as Binance is a leading trading platform in the crypto market, providing high premiums and exit liquidity.
② In terms of team support, projects that play a key role in public chains (like DEX being the limbs of public chains) usually have good wealth effects if they receive participation or support from the public chain team. The positions of Jupiter in Solana and Walrus in Sui are examples; such projects often have high premiums during airdrops, as the project parties are financially strong enough to be generous with airdrops.

3. Track Imagination (Mainstream + Core)#

Aligning with current mainstream narratives (like L2 in 2023, DEX in 2024) helps attract hot money and community participation.
"Content mining" is set to become a popular track in 2025, where everyone can publish articles to earn rewards, thereby driving enthusiasm and capital inflow.
Track imagination (aligning with mainstream and core, also reflecting the current market's profit-making style).
For example, the mainstream narratives of L2 in 2023 targeting Ethereum scaling, DEX in 2024, and content mining in 2025 allow everyone to become a KOL, earning rewards through project research and Twitter posts, attracting hot money speculation and capital participation, and enhancing community popularity.

4. Cost Accounting (Difficulty Level)#

For small players with limited funds, low-threshold, zero-lockup projects are optimal, as they only lose time without losing principal.
Over-staking or relying on sign-in interactions 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 is not a good project. For example, sign-in types are unfavorable for those without technical means, and staking types are difficult to manage risk for small funds; one might earn interest ten times but lose everything if the project is hacked once. Therefore, I prefer projects with lower costs, where I only lose time, not money.

To achieve results in airdrops, one must select projects well in the early stage, persist in execution in the mid-stage, and then reap rewards in the late stage.
As the returns in the airdrop industry decline in 2024, the overall number of participants in 2025 decreases, with more people exiting this long-cycle, high-investment, time-consuming activity, while those who remain turn to more targeted airdrops (like exchange airdrops) or small investments (like more people becoming KOLs).
For those who persist in airdrops, investment research is no longer just about looking at funding and teams; it requires more strategies. Perhaps after this distribution method fades, a new narrative will take its place, but for now, we can only continue to try; only by participating can we know what is feasible and who is deceiving.
However, methods that are highly certain, low in difficulty, time-efficient, and can manually operate 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 Accessing OKX Exchange in China#

Many exchanges' original domain names may be restricted, or their servers are overseas, leading to slow access. Ordinary users often feel at a loss and even doubt the platform's issues. In fact, this is more due to the network environment rather than service interruptions. Exchanges like OKX and Binance regularly update their backup domain names to ensure users can access the official website through alternative addresses.

1. OKX backup domain Overseas OKX - Need VPN or Alternative Address
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 (Open Sesame)

🔥 Further Reading#

Top 10 Virtual Currency Trading Platforms in China for 2025 Released 🔥【Worth Collecting】
【Real Stories of Getting Rich in the Crypto Circle】Many people ask me how I went from 0 to 11 million and then to a debt of 100,000 after years of trading coins.

🔥 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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