🧘‍♂️ALERT: 100x Profit Opportunities

And How To Grab Them!

Dear Meditators

It’s a beautiful day for Layer 1s with ETH and SOL smashing All Time Highs.

So many opportunities in the crypto space and we are here to explore them all with you. 

Today’s Meditation: 

• Guide to the Polkadot Parachain Auctions 

• Success Quiz 

• All About The Latest Scam: SQUID

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Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool. 

? Going Once, Going Twice… SOLD! 

With Ethereum gas fees at all time highs (despite the best efforts of many ETH upgrades) there is plenty of opportunity for Layer 1 alternatives. SOL is breaking record prices (flipping ADA by market cap in the process) and other alternatives like DOT are also thriving.

• As well as the alternative layer 1 narrative, Polkadot is currently benefiting from the upcoming Polkadot auctions, starting November 11th 2021. 

• The Polkadot auctions are where projects compete to connect to the parachain slot.

• Members of the crypto community can participate in the auctions through the crowdloan mechanism.

? So, what’s a crowdloan? 

The Moonbeam website provides an excellent overview: 

“A crowdloan is a way for new projects to garner the support they need to connect to the Polkadot network as a parachain. A crowdloan participant can show their support for a project by locking up their DOT for the length of the parachain lease in exchange for a reward, usually in the form of the project’s native token. In most cases, those contributions will pay for the parachain slot lease and generate rewards in the parachain’s native token. When the parachain lease expires, the locked DOT is returned to the user.”

? Well, is it worth my time? 

Consider the Kusama parachain auctions in June 2021. Imagine all the people who participated in the crowdloan by staking their KSM (more on this later) in favour of Moonriver, the first parachain slot winner.

If you had contributed just 1 KSM, you would’ve received about 15 MOVR which is a 100x return. And, after the lock-in period, you get your KSM back.

If you missed out on Kusama, here’s how you can get in on Polkadot. 

? Ok, how does it work?

You will need to lock up your DOT for 2 years. At the end of this period (and even if the project fails to win a slot), your DOT will be unlocked and returned to you.

For step by step instructions on how to participate in the crowdloan as well as video tutorials, refer to this guide by Polkadot.

? But, who do I pick? 

There are plenty of brilliant projects to get involved with. Here are a few that have gained the most traction so far: 

1️⃣ Acala 

• Acala is an all-in-one DeFi hub of Polkadot. 

• An Ethereum compatible platform for financial applications to use smart contracts or built in protocols with out-of-the-box cross-chain capabilities and robust security. 

• The platform also offers a suite of financial applications including a trustless staking derivative (liquid DOT), a multi-collateralised stablecoin backed by cross-chain assets (aUSD), and an AMM DEX – all with micro gas fees that can be paid in any token. 

• Investors include Digital Currency Group, Alameda Research, Coinbase Ventures and Polychain Capital.

2️⃣ Astar Network

• Astar is a gateway to the multi chain future; a scalable, interoperable and decentralised web 3.0 platform.

• Connecting multiple layer1 blockchains to Polkadot through Astar Network.

• Aims to connect Ethereum and Cosmos blockchains to the Polkadot ecosystem.

3️⃣ Moonbeam 

• Relative project of Moonriver (mentioned earlier) which recorded 1 million transactions just 3 weeks after launch.

• Moonbeam is an Ethereum-compatible smart contract platform that makes it easy for multi-chain projects to expand to Polkadot. 

• Moonbeam will be the only parachain on Polkadot that has full Ethereum compatibility. 

• There are already 70+ projects & integrations in the Moonbeam pipeline. 

And that’s a wrap. Remember, for more details on how to participate, refer to this Polkadot guide.

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 ? How to Become Invaluable

What is a skill that can help you become invaluable in the workplace?

1. Give without expectation

2. Giving with expectation

3. Not giving at all 

?Life Savings Eliminated 

Squid was a crypto inspired by the popular Netflix series, ‘Squid Games’. Because many cryptocurrencies are soaring, many are trying to look for those big gains. 

It seems that a measly 2x does not interest people nowadays! Well, with more reward comes more risk. Squid was created on October 26 and cost just over $0.01. 

By October 30, it was at $33. If a 33x wasn’t enough, the price ballooned to over $2800 by November 1. Since inception, it has now over a 280,000x ROI. Later on November 1, though, it dropped to less than $0.01. 

Rug pull. There were people that lost thousands of dollars over the span of a couple of days. One trader, Bernard, admitted that he lost his life savings of $28,000. The tokens’ anonymous creators collected [at least] $3.4 million in investor funds. 

In order to stay safe, we should look toward red flags:

• ? Squid’s white paper had grammatical mistakes and typos. 

• ? Squid’s token creators could not be found on LinkedIn. 

• ? Squid’s token price only went up (of course before it plummeted). 

We must remain vigilant in order to protect our gains! Realizing what red flags to look for allows us to be safe and to continue to thrive in this community that we enjoy. 

1. Give without expectation.

Perhaps this one seems obvious to you. But it is much easier said than done. 

Giving without expectation is one of the most sure-fire ways to become one of the most trusted people in your group.

For many more tips and tricks check out our article How To Become Invaluable and make sure that your team can’t do without you. 

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??‍♂️✍️ Stories in this newsletter were written by Misael Calleja, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.

Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.

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