The perpetual contract track has indeed been very hot recently, but what I want to say is—entering now might not be the best choice.

The ups and downs of the crypto market are well known, but many people always follow the trend during high heat. Remember the $LIGHT airdrop? The whole internet was hyping it up, but most of the people who entered were just bagholders. As small investors, our funds are limited, so we must be more cautious than others.

Look at the currently popular Perp projects, like Var, where the TVL has become ridiculously high. Entering at this point? You're just providing liquidity fuel for the market. The situation of many people chasing after few opportunities will never change. Some want to replicate Lighter’s success but don’t understand that Lighter was originally an unknown small player, built up through private messages to recruit people, with no comparable benchmark.

In fact, the real opportunity is when the hype subsides. My strategy is to choose projects with low costs, like StandX, which allows multiple accounts to run in parallel, earning through holding tokens and accumulating points. Generate some trading volume, optimize order placement with scripts—this is much more stable. You can also consider hedging GRVT; airdrops are coming in Q1, and the off-chain price is only $10-15 per share. If you set your loss limits low enough, the current participation risk isn’t high.

When the tide goes out, you can see who’s swimming naked. Honestly, the hot perpetual products on the market now lack real innovation. Also, a quick note on Nodo’s credibility—its testnet was supposed to end on the 15th, but it was delayed. Such unfulfilled promises can easily reflect future issues with the project. You can try, but don’t over-invest.

In summary, avoid crowded tracks.