I wrote an article here on Leofinance/Hive yesterday as I waited for my Lazio tokens to arrive. Then thanks to a comment, I discovered that trading opened earlier than it has done earlier for similar launchpad projects on Binance, meaning that I immediately checked it out and got rid of my Lazio tokens.
But, was it a success? Did I just get rich?
$LAZIO immediately gave 20x profit - did I get rich?
Wow, that is just stunning, isn't it? All I did was to keep some BNB tokens at Binance, then subscribe with as much as possible to the Lazio token sale, and then sell my tokens a few hours later... and boom... 20x profit!
It does sound easy, and it is easy. The only problem is that there are way too many who want to get rich in this way, meaning that if you have 10 BNB tokens with which you subscribe to the sale, you would only be allowed to use 0.01 BNB at the actual token sale. If you had an average of 1000 BNB tokens (I wish I had) during the calculation period, you would only be allowed to join with 1 BNB in the sale.
That is the problem, meaning that you are very limited. Of course, as I sold my Lazio tokens at $20 (the initial sale price was $1), I enjoyed a 20-time profit but considering that I barely received any tokens, I have got to admit - I am still not rich (at least if you measure it in USD).
But, instead of complaining, I am just getting more BNB tokens, hoping that I will be allowed to spend some more during the next launchpad project, make more profit, and then in the end, who knows?!
Is it smart just selling the tokens at once?
Not necessarily! With Beta Finance (earlier in October), I joined and sold at $1.5 or something like that, and the price later went to $4, and then traded around $3 for quite a while before it stabilized around $2.
The "worst" example is Axie Infinity. The AXS tokens were sold for $0.06 during a launchpad project in November 2020, and the price of the tokens is now $120. That is just extreme profit if you keep your tokens!
So... who knows? Maybe I will regret selling, but still - 20x profit in a few minutes still sounds good, and I am re-investing it in more BNB tokens. Future will tell me if it was a good idea or not!