In the cryptocurrency space and even in the larger financial industry, to make money, everyone in each ecological niche must first understand a brutal underlying logic: "A zero-sum game cannot satisfy everyone, and the worse the liquidity, the fewer people are satisfied." If the TGE valuation opens high and satisfies VCs, it cannot satisfy the secondary market buyers; If the community airdrop is satisfied, it cannot satisfy exchanges and investors; If Kaito is satisfied with the mouthfuls, it is difficult to satisfy the non-mouthful KOLs; If the KOLs are satisfied, it is hard to satisfy retail investors who want fairness; If retail investors are truly given "fairness," it will lead to a lack of wealth creation effect due to poor control of the supply, leaving everyone, including retail investors, dissatisfied. The choice of smart people is to prioritize taking care of themselves and their teams, key roles (like exchanges and market makers), and those around them (investors, KOLs); If you want to continue winning in a zero-sum game, either you are the one dividing the cake, or you can occupy a key ecological niche; If you are not in the core circle and want to get a share through trading or cognition, at the very least, you need to clarify the priority of interest distribution in each game, and then place your bets on that relatively prioritized aspect. For example, regarding the priority of the zero-sum game for VC coins, excluding those who rely on physical labor to earn a living, such as mouthfuls, community workers, and those chasing Alpha. What other ecological niches have priority? Airdropping is definitely not one, secondary market buying is likely not, investing in VCs is basically not, OTC is even less likely, and KOL rounds are also quickly becoming irrelevant, but... because the above are likely not, shorting is probably 🤡.

The last sentence is a joke. Each project can be viewed as a zero-sum game when considered individually. For example, if Met has a high priority for airdrops to the community, it indicates that the secondary market buying priority is low. Conversely, if a project's opening valuation is the same as that of KOLs and VCs, it suggests that the secondary market buying priority is high (because the market needs to work together to push it up from a low opening). Adjust your strategy based on the priority ranking of each game.