🔎Best airdrop farms for ETH🪂
🔎Best airdrop farms for ETH🪂
weekly valuable insights
In today’s newsletter:
🔎3 airdrop strategies for ETH
📊On-chain alpha
😂Crypto meme of the week
🗞️The latest DeFi news
Today’s email is brought to you by DIA - The trustless oracle network
Discover DIA Lumina - the new oracle primitive!
🔎3 Airdrop Strategies for ETH
If you’re holding ETH, there’s no reason not to use it in DeFi.
There are now lots of great airdrop opportunities for ETH that have the potential to end up being very rewarding.
While the days when you could deposit $100 in a dApp and get a $1000 airdrop are over, earning a high double-digit APR on your ETH is still possible.
Today I want to cover my top 3 airdrop strategies for ETH.
Let’s dive in👇
1. Mantle + Karak
Mantle, the Ethereum L2 with the largest treasury, is also the project behind mETH Protocol, one of the fastest-growing ETH liquid staking protocols.
It’s confirmed that mETH holders will get an airdrop from mETH Protocol.
Here’s my strategy for farming its airdrop:
Go to Mantle’s Methamorphosis Airdrop Campaign page and connect your wallet to join its points program
Stake ETH & Bridge after clicking on “Gather mETH” button
After that, deposit the mETH you received on Karak (Karak access codes: 9hFEE bGyah)
Karak is the third largest restaking protocol, and by depositing mETH on Karak on Mantle L2 you’ll also farm Karak airdrop at the same time.
Why I like this strategy:
Through it, you can farm mETH Protocol & Karak airdrops at once
Those who stake & bridge ETH to Mantle between Sept. 4 and Oct. 2 will also earn a share of 1,800,000 $COOK tokens as a bonus
Karak’s mETH pool has a 2X Karak points boost
Additionally, one thing I really like is that Mantle has made it clear from the beginning that its first airdrop campaign will last only for 100 days in total.
2. Fluid + EtherFi
Fluid is an innovative DeFi protocol developed by Instadapp, while Symbiotic is the 2nd largest restaking protocol.
With Fluid, you can farm Symbiotic points with up to 11x leverage.
Strategy:
Restake wETH in exchange for weETHs, EtherFi’s liquid restaking token for Symbiotic, on EtherFi
Deposit weETHs on Fluid in its weETHs/wstETH vault
(optional) Borrow wstETH against your position on Fluid and swap it to weETHs to leverage it up - leverage your points up to 11x
Why I like this strategy:
By depositing weETHs on Fluid, you’ll earn 3.5x EtherFi points, 1x Symbiotic points, 3x Veda points and 1x Zircuit points at once
Fluid offers the highest liquidation thresholds in the industry
If you borrow wstETH against weETHs, make sure you don’t get liquidated. The good thing about Fluid though is that it has very low liquidation penalties.
But even simply depositing weETHs on Fluid is worth it, as you’ll essentially farm 4 airdrops at once.
3. Kelp DAO + Pendle
Kelp DAO is one of the largest tokenless ETH liquid restaking protocols, while Pendle is the most popular yield trading protocol.
Recently, Kelp DAO launched Airdrop Gain Vault, a product that automatically farms airdrops across various L2s and DeFi protocols.
Strategy:
Go to Kelp DAO website
Click on “Restake now” and then on “Gain” in the left corner
Deposit ETH/rsETH in Kelp’s Gain Vault in exchange for agETH
(optional) Provide agETH as liquidity to Pendle’s agETH pool for some extra yield
After depositing ETH, Kelp’s Gain Vault automatically allocates your assets to multiple tokenless Ethereum L2s and other protocols.
Why I like this strategy:
Gain vault has relatively small fees (only a 2% annual fee)
In return for the ETH deposited in Kelp’s Gain vault, you get agETH, a receipt token that can be used in DeFi
Right now there aren’t a lot of things that you can do with agETH, but the Kelp team is expected to announce several new DeFi integrations soon.
I hope you found these airdrop opportunities interesting!
As I’ve also said at the beginning of this issue, airdrops are no longer a way to get rich overnight as the number of their farmers has drastically increased.
But in my opinion, farming them is still a good way to earn some extra yield.
Together with DIA
DIA Launches Lumina, the Rollup-Enabled Decentralized Oracle
DIA announces ‘Lumina’, a brand-new oracle network, reimagined from scratch.
Lumina is a trustless oracle network that delivers data feeds for any token, LST, RWA, random numbers, and more to any blockchain.
DIA Lumina is composed of state-of-the-art modular components such as Zero-Knowledge technology, a cross-chain messaging protocol, ETH scaling solutions and more.
The network is permissionless, enabling nodes and stakers to participate in distributed data sourcing, secured by crypto-economic and cryptographic mechanisms.
DIA Lumina’s native Ethereum L2 rollup, ‘Lasernet’, executes all critical oracle operations, ensuring trustless computation and full verifiability.
Discover Lumina – the next evolution in Oracles!
On-chain Alpha🔎
BTC exchange depositing addresses are at the lowest level since 2016
This indicates that very few people are actually willing to send their BTC to exchanges in order to sell it at this moment.
Because of this, the BTC holdings of centralized exchanges have also been on a decline for a while, which is a great sign in my opinion.
As you can see in the chart above, at the peak of the 2021 bull market the no. of active BTC exchange depositing addresses was almost 20 times higher!
Crypto Meme😂
The latest developments in DeFi
Louisiana Government has officially started to accept crypto as a payment option
EigenLayer’s Season 2 airdrop is available for claiming. 5.2% of EIGEN supply was allocated to it
Chainlink’s CCIP has launched on zkSync L2
Solana unveiled Seeker, its next-gen web3 mobile device. Seeker will enable seamless self-custody and introduce a new dApp Store among other things
Ctrl Mobile Wallet Beta went live. Ctrl supports 1000+ chains, enables paying gas fees in USDC, and has a social login feature
Contango integrated Fluid, a highly capital-efficient lending market
Everclear, the first Clearing Layer, went live on mainnet beta. Everclear aims to significantly improve the cross-chain UX
DIA introduced DIA Lumina, a trustless decentralized oracle stack
PancakeSwap has introduced its Prediction Telegram Bot
WalletConnect introduced its token WCT and announced an airdrop
Ethena’s Season 2 Airdrop Checker went live
1inch introduced Fusion+: a new solution for cross-chain swaps
zkSync’s governance system has gone live
The FED cut rates by 0.5% for the first time since 2020
TON Foundation partnered with Curve Finance to incubate a stablecoin swap project
dYdX announced its plans to debut perpetual futures on prediction markets
That’s all for this week!
Until next time,
The DeFi Investor
Want to sponsor this newsletter?
Please send me a DM on Twitter (X). I have a sponsorship deck that I can send you.