If you know me, then you know that I am a big fan of spotlight/launchpad projects and I always enjoy such opportunities. That is also why I have bought tokens during token sales on PenguinFinance, and recently, I have also been a part of several sales av Avalaunch.
The most recent, however, is joining token sales on TraderJoe. It must be said that the token sales on TraderJoe are very different from a normal sale. How come? Because you join the sale with, let us say, 4 AVAX. You can only join sales based on your number of rJOE tokens, something you get through staking JOE tokens on the platform. But, let us say that you join with 4 AVAX. Now, those are then added to a liquidity pool which will turn your deposit into 50% of the token you buy, and 50% AVAX. These are then combined added to the liquidity pool and after approximately 1 week, you receive your LP tokens. You can then just keep them there and earn trading fees, or you can remove your LP tokens and cash out.
In theory, if this would be like all other spotlight/launchpad projects, you would end up with more AVAX in the end than before. But, so far I have been a part of two different projects on TraderJoe, and unfortunately, I have ended up with less AVAX in both situations.
The most recent token sale was FIEF, and I have got to admit, it was very close. I spent 2,5AVAX, and if I take into consideration the fact that I received a little "bonus" (which everyone else taking part also did), I think the final result after removing my LP tokens and then turning the 50% of FIEF tokens into AVAX, the total result was something like 2,4 AVAX. In other words, not a big loss, but far away from those 3x-4x or 10x profit we have often seen from similar projects on Kucoin and Binance.
Today, I spent 1/1 AVAX for two new sales on TraderJoe, for Echidna Finance and Vector Finance, both taking part in the so-called PTP war. These are all projects that I am bullish about, and I am extremely bullish on Platypus Finance (PTP) as a platform in itself. I might not expect much profit from the token sales on TraderJoe, but I decided to join, just for fun (in a world that is way more serious right now than I like).
So while praying for Ukraine (and Russia), I do try to concentrate on something else instead, like the PTP wars, or maybe the PTP Party is a better name (as some people have suggested).