A Sheep's Backpack Blessing: Uncovering the "Wealth Code" Through Airdrop Interactions
TechFlow Selected TechFlow Selected
A Sheep's Backpack Blessing: Uncovering the "Wealth Code" Through Airdrop Interactions
Choose projects with vision and potential, grow together and all benefit.
Navigating Web3 tides with focused insightsWritten by: TechFlow
Recently, the airdrop farming community has been feeling down:
AEVO was reversed, not only wasting effort but also directly causing partial financial losses;
Wormhole began anti-sybil measures, screening users based on ownership, fund sources, behavior, and spam transactions;
More projects are adopting point-based systems requiring ETH or other asset staking—favoring large holders;
Numerous farming studios operate assembly-line style, squeezing out retail farmers;
……
More importantly, in the face of $BOME's wealth myth, the daily grind of airdrop farming feels somewhat "powerless."
One farmer complained, "If I had just used all the time and money spent on zkSync to buy MEME coins instead, I might have already made it."
How should one farm airdrops correctly? The story of an airdrop hunter and Backpack may offer some insight.
Expectation Management: Lower expectations, and everything beyond is a bonus
Project teams and farmers have a love-hate, parasitic relationship.
On one hand, farming drives on-chain interactions and generates numerous wallet addresses—key data supporting high valuations. Thus, many projects subtly or explicitly hint at airdrops, or launch Odyssey missions to "PUA" users into engaging—all parties tacitly building a "false prosperity." On the other hand, while many projects rely on farmers, they also despise them, hence terms like "digital beggars" emerge.
In this game of mutual influence, expectation management is paramount.
If a project raises retail users' expectations too high through hints, announcements, or marketing campaigns, failing to meet those expectations will inevitably trigger backlash from farmers.
Most projects encourage participation to boost metrics, inflating user expectations, openly telling users how to farm, yet later finding excuses, setting barriers—only a few actively lower expectations.
For example, while Backpack saw a surge in activity due to airdrop speculation, it stepped in to cool things down:
Why did Backpack voluntarily give up potential "fee" revenue and flashy trading data?
Unlike simple on-chain interactions, trading on exchanges requires real fees. All public information indicates that official rewards are designed to incentivize genuine traders. Frequent volume pumping for airdrops could easily result in net losses due to high fees.
Projects need to manage users' expectations, and users must also temper their expectations of projects.
If you expect 100 apples and get only 90, you’ll still feel dissatisfied. But if you expect 10 and receive 20, it’s an incredible surprise.
Discovering Wealth in Interactions
How can airdrop farming shift from a cat-and-mouse game to a win-win situation?
Perhaps there’s only one answer: During farming, discover valuable products, become a real user, turn deliberate interactions into usage habits, and infinite surprises await.
The story of veteran airdrop hunter Lao Mo and Backpack may be the best example.
In November 2023, with the sole intent of farming, Lao Mo bought large amounts of Solana at around $60 to participate in Backpack’s "launchpool event." From that moment, however, fate began to turn—those Solanas purchased for farming would later become an enormous windfall.
Note: For details, see Backpack: Former FTX Execs Launch Startup, Launchpool Hype Sparks Community FOMO (With Registration Guide)
More importantly, during his farming journey, Lao Mo learned the story behind Backpack:
Initial Glory: In September 2022, Coral, Backpack’s parent company, raised $20 million led by FTX Ventures and Jump Crypto—seemingly unstoppable...
Nadir: After FTX collapsed, Backpack couldn’t retrieve ~$14.5 million trapped on FTX. The entire Solana ecosystem fell silent. The Backpack team had to cut expenses drastically just to survive...
Renaissance: They launched Mad Lads successfully during bear market, then in October 2023 unveiled Backpack Exchange—a regulated trading platform—building a full ecosystem of wallet + exchange + NFT.
After thorough research, Lao Mo decided to go all-in on Backpack and the broader Solana ecosystem, for two reasons: Teams like Solana and Backpack that survived deep downturns have greater explosive potential, and the bear market cleaned out weak hands; Ethereum’s ecosystem grew too smoothly, becoming increasingly oligarchic, with opportunities shrinking for ordinary people...
Since then, Lao Mo fully embraced Backpack’s three-part ecosystem:
Mad Lads: Purchased Backpack’s NFT series Mad Lads, whose floor price kept rising, surpassing veteran Ethereum NFTs in market cap, and continuously earning Pyth/Wormhole airdrops—Wormhole alone awarded over 16,000 tokens (worth >$30K) to wallets holding W-badge NFTs;
Wallet: Uses Backpack wallet daily, gaining 1.05x point multipliers on Solana projects like marginfi and tensor, and achieving higher success rates when trading MEME coins;
Exchange: Trades Solana ecosystem tokens regularly on Backpack Exchange, accumulating volume as SOL-related assets surged;
Assets: Bought and staked PYTH, Backpack’s first listed token, enjoying nearly 4x appreciation and receiving Wormhole airdrops.
……
Everywhere he looked, blessings abounded. Gradually, Lao Mo evolved from a roaming airdrop hunter into a product-focused explorer, deeply committed to the Solana ecosystem.
This may well be the true path of a farmer’s evolution.
When trading on centralized exchanges, using Backpack accumulates volume that may lead to unexpected airdrops or bonuses;
When trading on-chain, using Backpack wallet grants 1.05x point boosts on Solana projects like marginfi and tensor—and long-term usage ensures past marginfi points also receive 1.05x multipliers.
Why wouldn’t you?
Life is a game of choices—so are investing and farming. Choosing visionary, promising projects leads to shared growth and joy; choosing PUA masters brings only regret and exhaustion.
Ultimately, it reaffirms that truism: Choice matters far more than effort.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
深潮TechFlow
