OKX Friends Episode 7 | Interview with Feng Wuxiang: Earning Tens of Millions Monthly, the "Gold-Mining Secrets" in Airdrop and MEME Dual Tracks
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OKX Friends Episode 7 | Interview with Feng Wuxiang: Earning Tens of Millions Monthly, the "Gold-Mining Secrets" in Airdrop and MEME Dual Tracks
The god of wind said that to succeed, one must continuously work diligently on the right things.
Navigating Web3 tides with focused insights
Starting from airdrop farming, then moving into the MEME sector, consistently achieving multiple single-project profits exceeding ten million.
Fengshen said that to succeed, one must continuously work diligently on positive EV activities.
@0x0xfeng, the all-rounder who understands trading best among airdrop farmers and knows airdrops best among traders, tells you how to trade while farming airdrops?
This is part of the #OKXsFriends series. Interviewer @mia_okx. Follow us!
How did you earn your first 10 million?
I used to serve as VP of Marketing Operations at an e-commerce company. In 2021, by chance, I came across "IPO-style" activities in the cryptocurrency space. I immediately quit my job at the e-commerce firm and fully dedicated myself to crypto project launches. At that time, Bitcoin and blockchain were gaining momentum. After reviewing past projects and calculating costs versus returns, I realized the profit potential was substantial—an opportunity too good to miss.
My first 10 million came from CoinList project launches. The launch operation wasn't big—initially just a table set up in my living room with two college students hired to help. That's how it started. Initial investment included two computers totaling over 10,000 RMB, plus two recent graduates employed at around 4,000 RMB/month each. With this setup, each account could participate with $500, allowing 10,000–20,000 USDT per project.
Back then, although the winning rate was only 3%-5%, very few of these IDO projects lost money. For MX, we invested over $25,000 and earned $700,000–$800,000. Then buying People pushed us over the million mark. After the Luna and FTX collapses, it took over two years of drawdown before we returned to previous highs.
How to smoothly transition from airdrop farming to the MEME track
In fact, many airdrop farmers don't actually trade crypto. In P-shawn's group, there might be 100 CAs in a day; messages pile up so fast that you miss hundreds if you look away briefly. But in airdrop farming groups, there may only be dozens of messages per day—most people are quietly working on projects. These are two entirely different types of people. My quick shift from airdrop farming to MEME was possible because I had friends playing in the space and I personally enjoy MEMEs. I feel playing MEMEs needs positive feedback; otherwise, anxiety and internal pressure build up, making it unsustainable. MEMEs have an impossible triangle—capacity, multiples, and certainty.
1. Capacity means sufficient room for large-position entry
2. Multiples refer to returns of several or even tens of times
3. Certainty simply means guaranteed profitability upon entry
But so far, I've only seen such a perfect combination in $TRUMP—it has capacity (officially backed with tens of millions added to the pool), multiples (early large positions enjoyed several to over ten times gains), and certainty (a MEME launched by Trump himself).
The path to mining profits in MEMEs
I prefer second-stage or higher-capacity coins. P-shawn basically sleeps 6–8 hours a day and spends all remaining time on-chain, often requiring timezone adjustments. First, this severely affects health—I can't handle it. Second, those hundred-fold returns we see require extremely early entry, and insider allocations are very hard to access. Fast-moving whale-run schemes usually fill their private pools themselves, leaving little room for retail. So personally, I mostly focus on second-stage plays. Generally, for market caps in the tens or even hundreds of millions, as long as the narrative makes sense and I can roughly assess market valuation, it's easy to achieve 50% gains or even double your money. Doubling on exchange-listed tokens is difficult, whereas in the MEME market, doubling or multiplying several times is relatively simple compared to exchanges.
$BOME and $SLERF were the earliest ones that brought me significant gains, followed by Japanese Cat. $SLERF yielded about $1.2M within an hour, Japanese Cat around $1M in one night—these two have been the most profitable so far. For second-stage entries, $ChillGuy also generated substantial returns. I heavily bottom-fed $CHILLGUY and sold after a major rebound when it got listed on a major exchange's futures market. For $TRUMP, I bought approximately $600K at an average price of $14. As for $MELANIA, I invested under $2M but exited after earning hundreds of thousands.
How to judge a MEME narrative?
Assess IP热度 and the team's operational capability. With sentiment-driven coins, once you feel the hype has peaked, it's time to sell. There’s a saying: “Sell when the crowd is loudest”—that’s exactly the principle. Take GOAT, for example—even selling at its peak buzz phase of 600–700M wasn’t a bad move. While not the absolute top, as long as it aligns with your understanding or psychological fair value, it's acceptable.
Ultimately, constant post-mortems are essential—to train your comprehension and market intuition, accumulating experience. For instance, if you’ve lived through a coin from inception to peak, then from peak to zero, you’ve essentially witnessed its full lifecycle. Take $TRUMP—many dumped $100K–$200K straight in. $SLERF and $BOME were similar—their biggest feature was fairness. This perfectly fits the previously mentioned MEME impossible triangle: combining capacity, multiples, and certainty.
Regarding $CHILLGUY, it was driven purely by market sentiment and emotion. Every time it dipped deeply, strong buying forces emerged. By observing $CHILLGUY’s trading volume and holder count, I believed it had potential for listing on a major exchange’s contract market—indicating strong upside potential. Judging turnover is simple—once turnover exceeds 1%–5%, it’s already quite active. The clearest sign? High trading volume persists while market cap remains flat.
$CHILLGUY has over 100,000 holder addresses, while $TRUMP exceeds 700,000—typical MEMEs usually hover around 40,000–50,000 holders. Clearly, CHILLGUY has massive traction. Its on-chain trading volume topped charts consecutively for days. Combined with its novel concept rooted in the TikTok trend, I decided to enter. My biggest takeaway is that MEMEs differ greatly from traditional VC-backed tokens. Due to their novelty—especially category leaders—we cannot accurately value them like traditional Layer2 blockchains, where TVL, user numbers, and ecosystem metrics offer valuation clues. Even $ORDI was hard to value initially—a new phenomenon in its niche, making precise valuation nearly impossible.
How to manage take-profit, stop-loss, and position sizing?
1. Don’t be overly optimistic; avoid self-delusion
• Traders often become excessively optimistic about their chosen projects, ignoring potential risks. Learn to analyze projects from a calm, objective standpoint—avoid self-hypnosis and emotional bias. For example, when a project surges due to hype then falls back, rationally assess whether it can rise again instead of blindly assuming it will repeat past patterns.
2. Cut losses promptly; don’t hold onto losing positions
• Many stubbornly cling to losing investments, hoping to break even, but this often causes them to miss optimal exit points, leading to greater losses. Learn to evaluate whether a project still holds potential. If you believe it won’t recover, cut losses decisively to prevent deeper damage. As Fengwuxiang says, in the long run, only strong hands deserve capital—weak hands should be discarded early.
3. Allocate positions reasonably; avoid over-concentration
• Don’t concentrate all funds into just a few projects. Diversify positions to reduce risk. Spreading trades increases fault tolerance—so even if some projects fail, your overall portfolio won’t suffer catastrophic damage. For example, I’ve mentioned that even if half of ten projects drop 50%, proper position management can still protect overall asset safety.
4. Reinvest profits; keep principal safe
• Use profits to roll forward into new trades rather than constantly adding more principal. This way, you grow returns while protecting your base capital. After making profits, reinvest part of the gains, but ensure your original capital remains untouched. This method allows steady, long-term asset growth.
5. Monitor project narratives and market sentiment
• Project storylines and market emotions are crucial for decision-making. Learn to judge whether a project’s narrative is compelling and whether market sentiment is rising. When sentiment peaks, it’s often time to take profits; when sentiment is low, it may be a good time to accumulate. For example, when everyone worldwide is shouting about a project, it’s likely time to sell.
6. Choose high-certainty projects
• During trading, prioritize high-certainty opportunities. Projects with clear use cases, strong teams, and promising outlooks deserve more attention and allocation. Avoid highly uncertain ventures to minimize risk.
How to mine profits across both MEME and airdrop tracks simultaneously?
Airdrop farming itself is inherently positive EV. For example, when trading MEMEs, I often naturally use JUP because I know JUP will have an airdrop later.
Actually, I don’t use BOT much—I mainly play second-stage entries. Most of the time, after BOT purchases, when prices rise and stabilize, I’ll sell using JUP. This boosts JUP’s trading volume while avoiding BOT’s 1% fee. Doing this round-trip, I earned $50K in airdrops and saved another ~$50K in BOT fees—totaling $100K, effectively recovering the cost of playing MEMEs. When calculated, this adds up to a significant sum.
Metaora is the same. Many judged Metaora would have a big airdrop. Often, when I sell coins, I habitually add single-sided liquidity to Metaora’s pool, collect fees, then withdraw. Knowing Metaora’s airdrop would be valuable, say I have $50K worth of tokens—I deposit them into the pool, sell later for $70K–$80K, earn $5K–$10K in fees, and those fees will eventually be rewarded back via airdrop.
In short, while playing MEMEs, simultaneously engage in positive EV actions—such as deliberately using tools and platforms with upcoming airdrops.
@mia_okx writes at the end:
Fengshen is an extremely straightforward and sincere person. During our chat, I repeatedly tried to get him to summarize sophisticated methodologies behind his high win rate, but he offered no grand theories—just calmly said, “The more you play, the better your sense becomes.”
He said the successful individuals he knows who rose from the bottom all worked 16 hours a day, six days a week, fully committed, persisting for one or two years—or longer—before succeeding. Doing positive EV things, calculating expected returns, then comes patience and persistence. Once again, the words “focus” and “diligence” became vividly real in Mia’s mind.
Fengshen openly shared his approach to consistent profitability this time. Multi-dimensional strategy is key—combining airdrop farming and MEME dual tracks, leveraging platform advantages, focusing on long-term returns. Risk control is equally vital: timely stop-losses, rational fund allocation, avoiding chasing pumps and panic-selling dumps. Mentally, he advises staying objective and calm, not chasing perfection, accepting market realities. Long-term success requires continuous learning, patience, and a stable mindset. Hope everyone finds value in this 💗
Finally, huge thanks to @0x0xfeng for sharing. Stay tuned for more in the OKX's Friends dialogue series.
Disclaimer:
This article is for informational purposes only. It represents the author’s views and does not reflect OKX’s position. This article is not intended to provide (i) investment advice or recommendations; (ii) offers or solicitations to buy, sell, or hold digital assets; (iii) financial, accounting, legal, or tax advice. We do not guarantee the accuracy, completeness, or usefulness of the information provided. Holding digital assets (including stablecoins and NFTs) involves high risk and may experience significant volatility. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professionals regarding your specific circumstances. You are solely responsible for understanding and complying with applicable local laws and regulations.
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