This August has already passed one-fourth (mainly because of the delivery of outsourced projects), and I am only writing the summary for July now. This month has been quite fruitful, mainly due to the Satori and SUI Quest Phase 1 activities. However, I still don't know how to trade and got a loss by participating in a small amount of trading on a platform called "土狗" (which translates to "soil dog").
Satori#
I discovered this project when they launched a 50U recharge activity on Galxe. Coincidentally, this dApp is also deployed on Polygon zkEVM, so I wanted to experience it and see how it works.
I noticed that the funding rate for Matic-USDT on zkEVM was as high as -0.0925% per hour. I observed it for a couple of hours, and it remained consistently high. I decided to try arbitrage and interacted with Satori to receive their airdrop. I opened a leveraged long position with a small amount in Satori and opened an equivalent short position on OKX to collect the funding fee every hour.
Satori claims to be a decentralized perpetual contract exchange, but they can confiscate the profits of users who have filled orders when they insert the needle. This made me hesitant, so I didn't open a large position. Currently, the funding rate has returned to normal.
The images above show the gradual return of the funding rate to normal. With this great arbitrage opportunity gone, it doesn't matter whether Satori has an airdrop or not. If there is one, I should have a share since I opened and closed positions multiple times to balance both sides.
Because I was trading Matic, I coincidentally caught the crazy rise of Matic from 0.64 to 0.8x. However, since I am not good at trading, I didn't dare to close my short position on OKX and only held Matic, missing out on a big opportunity.
SUI Quest 1#
When SUI first launched this Quest, I thought it was a bit silly and felt like a scam. But actually, the first phase was the least complicated. I had previously received dozens of NFTs, and each operation didn't take much time. With a single account, I managed to get 24 SUI tokens.
I started participating in this activity around July 18th or 19th. Then, I started writing a script code for batch brushing, thinking that I should give it a try. Since 8192 used a headless browser for brushing, I was limited by machine performance, RPC, and multiprocessing issues. I took some detours along the way but managed to complete it. After deducting the costs, it was slightly better than just receiving the minimum rewards. If I had started earlier, I wouldn't have needed such high-performance machines, and I could have saved some money on RPC. More accounts could have participated and received more rewards.
土狗 (Soil Dog)#
I really don't know how to play this. I didn't prepare any robots or anything like that. I bought a small amount, but I missed out on two or three times the profit because I didn't sell. In the end, I lost 0.1e. In the last two days, I played with 0.04e on the base, resulting in a loss.
In early July, Unibot watched the introduction video of TALKCHAIN. On July 8th, I discussed it with a friend but didn't invest, missing out on a big opportunity.
Others#
I took on a Web2 outsourcing project, and in the second half of the month, I was extremely busy. I was busier than screwing screws at the company, but it felt different because I was only responsible for delivering the results to myself.
I learned a little bit about technical indicators for trading, such as Fibonacci, resistance and support levels, and how to use TradingView and Pine scripts.
August Plans#
My main focus is to complete the outsourcing project and prepare to write a Telegram bot for dog trading that I can deploy independently and open-source.
Depending on the situation, I might participate in SUI Quest 2 to receive the minimum rewards. This time, the rewards might not be as good since there will be around 400,000 participants.
I still haven't looked for any Remote-related Web3 jobs because I still have to stick to a regular schedule for work. Currently, my situation is not bad, and my goal is still to be an independent developer, engaging in trading while operating my own related products and tools.
Translation: