Falcon Reflection Series 1: The Right Approach to Participating in Season 2 The rhythm after the Falcon TGE is roughly set: @FalconStable launches at 7%, with a high probability of 5% in Season 2 and 3.5% in Season 3. If we compare this with the experience of Ethena, we are actually standing at a very familiar crossroads. The difference is that this time we have already seen the entire process of ENA and should not repeat the same mistakes. In the past few days, I revisited the "Correct Participation Approach Series" by Brother Gua @liguagua regarding ENA. Interested friends can also go and check it out; there are a total of eight episodes! 📌 Lessons Learned from Ethena Brother Gua's pain point in ENA S2 was mainly "over-hedging." The background at that time was: sui, aevo, ena, the commonality of the new coins unlocked in Season 2. After the first season ended, the market makers withdrew, and the chips continued to sell off, often leading to a bear market. As a result, many people chose to hedge completely, missing out on the big market surge in ENA S3 that took off from the lows. 📌 Therefore, the issues for Falcon S2 are: 1. If you choose to hedge completely, where is the risk? 2. If you choose to go naked, how do you bear the price pullback? 👉 The key here is not whether to be bearish or bullish, but rather "cost thinking." The initial YT pricing of ENA was almost half lower than the spot price, providing everyone with a thick safety cushion. Will Falcon repeat this? That will need careful evaluation at that time. But regardless, I am definitely going to participate vigorously in Falcon Season 2. 📌 The correct posture and judgment should be: 1. Hedge the principal, go naked with profits: In S2, do not heavily bet on a direction; preserving the principal is the most important. Especially as the market cycle reaches the latter half of the three bull peaks, Q1 next year is likely to be the final surge. 2. Delay decisions: In case Falcon unfortunately gets vested, the vesting unlock will slow down the rhythm, so consider whether to add hedging in the latter half of Season 2 rather than heavily hedging from the start. 3. Maintain liquidity: Keep positions and flexibility to have the ability to supplement YT or add spot to balance costs when the market suddenly changes. I wonder how all the top brothers view the upcoming S2; seeking opinions, views, and interactions 👀 @hzl123331 @MengLayer @ViNc2453 @cryptolfggo @quant_sheep @hzl123331 @brucelolzz @Nickp_xxx @Alvin0617 @MaiMaiTi778 @Eason_2099 @ZHRnRvrPQX1401 @dreamisland69 @Live_2_Earn @j2blockchain_ @Eth527 @5urfer1in