Airdrops are dead. Long live airdrops

I’d say it’s a mix of two things - one, the airdrop landscape changed.

(1)

It’s not like you can’t do one on-chain interaction for $10 and get a decent fivefigs airdrop, but those are extremely rare now. There’s a hard focus on liquidity as the main player. And that’s where points were born.

Even more than before, I just see airdrops as APY on top of the APY you are already getting by farming whatever points it is you are farming. Unfortunately, for the small fish, protocols and chains are prioritizing on-chain “evidence” (i.e. liquidity) over transactions. Amount of active users and transactions might have been a cool metric to have to raise funds - but deep down, even if they aren’t bots, it can be tremendously faked and non contributing to the project’s success.

Thus, it has become a very competitive landscape for the smaller wallets, and it has become somewhat predictable for whales. You farm points and know what you are getting. The variables are % airdropped and FDV estimations. Pretty straightforward.

There are outliers, of course $HYPE, NFT communities, etc etc) but that’s the rare case now. It was the rule before.

(2)

Secondly, I’ve personally switch my approach to adapt to these changes, and went back to OG routes - yield farming. These points predictability make it easier and even fun to chaise the best yield, so that’s what my focus is right now. Be it with stablecoins or blue chips, there’s yield out there to get.

I could post farm and yield farming alpha, sometimes i do, and perhaps I’ll start again. Usually those are easier to dilute, so there’s a cross incentive there.

So in the spirit of this approach, here’s some yield farming delta neutral alpha you can do right now (and many many smart whales are doing):

(The action is in SONIC and in BERACHAIN)

- dolomite/euler + BEX + INFRARED

supply stablecoins to euler, borrow eth or wbtc AND bera, and LP on BEX. Then, stake on infrared to get iBGT.

Stablecoin = 1-2% supply apy

BERA = 100% borrow rate

ETH/WBTC = virtually free borrow rate

Infrared = 90% APY

Plus infrared’s possible airdrop (see what i mean?)

Roughly 25-40% APY on your stables, depending on health factor.

Instead of stables, you can supply blue chip and boom, nice apys for your BTC.

- for sonic: check shadow, @AndreCronjeTech’s last tweets, and top protocols in DeBank. See what the whales are doing

- then there’s the usual suspects in Pendle, valid to take a look too.

Have fun frens

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