Original | Odaily Planet Daily (@OdailyChina)

Author | Azuma (@azuma_eth)

Last night, the Binance Alpha tokens ZKJ and KOGE experienced a flash crash. Under the influence of an unknown whale intentionally withdrawing liquidity and crashing the market, both tokens faced a "knee-cut" level drop.

• Odaily Note: For details, see “KOGE, ZKJ swept overnight, Binance Alpha forced to grow”.

For a long time, as the two tokens with the most abundant liquidity and the lowest pool fees (0.01%) on Binance Alpha, ZKJ and KOGE have been the primary choices for users to trade and earn points on Binance Alpha — previously mainly through trading between the two tokens, but Binance has issued a new announcement prohibiting trading between Alpha tokens.

After yesterday's "harvest," many users this morning felt a bit confused about whether to continue participating in Binance Alpha. Some users may have chosen to give up, while others believe there are still potential profit expectations in Binance Alpha but are unsure which tokens to trade after avoiding ZKJ and KOGE.

“Efficiency” and “Wear”

First, it is essential to clarify that the two main factors users need to pay attention to when trading on Binance Alpha are "efficiency" and "wear."

"Efficiency" refers to the number of points that can be obtained per unit of trading volume.

Starting from May 1, Binance launched a points incentive program, which doubles the trading volume of BSC-based Alpha tokens and limit orders. In this context, choosing to trade BSC-based Alpha tokens or using limit orders is undoubtedly a more efficient choice. However, considering situations like last night's flash crash, I personally do not recommend using limit orders, which can amplify uncertainty and prolong operation time. Instead, I suggest directly choosing BSC-based Alpha tokens for market price "instant entry and exit."

"Wear" encompasses multiple aspects, such as safety, transaction fees, and slippage.

Safety can still be referenced by yesterday's flash crash situation. I believe that most Alpha tokens are not suitable for long-term holding (except for a few tokens, I also do not recommend forming LPs), so the more recommended approach is still "instant entry and exit, without getting involved."

Transaction fees and slippage will be the main content of this article. Currently, BSC-based Alpha tokens mainly utilize PancakeSwap to form liquidity pools, with fee levels ranging from 0.01%, 0.05% to 0.25%, and 1%. It is evident that tokens with a pool fee level of 0.01% will have lower wear; slippage is mainly affected by the liquidity of the pool, so we should prioritize trading tokens with greater pool liquidity.

PancakeSwap Pool Situation

The following chart shows the ranking of Alpha tokens with a liquidity fee level of 0.01% based on real-time data from PancakeSwap, ordered by pool size, hoping to assist you in your subsequent point-earning operations.

Final Thoughts

The above presents the objective liquidity status of all Alpha tokens with a liquidity fee level of 0.01% in the current BSC ecosystem, but in specific operations, there are still some small tricks to reduce wear — for example, some users may observe K-line trends and attempt to buy and sell during an upward trend to offset trading wear. However, I am not very skilled in this area and can easily become emotionally unbalanced and switch to long holding due to misjudgment, so I do not recommend this approach for users with average trading instincts.

Finally, I would like to add two points.

First, the gameplay of Binance Alpha is essentially a game between profit expectations and cost accumulation. After the collapse of the most liquid ZKJ and KOGE, users choosing to trade other tokens will likely experience higher wear, so users need to assess their point status and estimate the expected number of airdrops or new project participations every 15 days, then estimate the profit and risk-return situation based on wear.

Second, after this incident, Binance Alpha is likely to make some modifications to the gameplay rules in the future, and users need to pay attention to subsequent rule changes in a timely manner.

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