As the bull market gathers momentum, tokenless protocols will likely launch and distribute their tokens to active community members this year. 

Now is the perfect time to start if you haven't positioned yourself yet.

Today, we will introduce you to 3 farming strategies that could potentially secure you airdrops from 7 different protocols. 

Let's dive in.

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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Hyperliquid

Hyperliquid is a decentralised perpetual futures exchange that aims to provide traders with a full-featured, transparent, and secure trading experience. 

Recently, Hyperliquid has frequently featured in the top spot among all Perpetual DEXs. We have tried many perp DEXs, and Hyperliquid stands out with its superior UI/UX.

So, why are we talking about Hyperliquid today?

Well, the DEX is gaining popularity, but it hasn't launched its token. 

More importantly, it has a points system – points farming often signals an airdrop on the horizon to reward early adopters. This points program, launched on November 1, will potentially run until April, distributing 1,000,000 points weekly.

Action plan:

1. You will need USDC on Arbitrum (you can directly withdraw USDC to Arbitrum from CEXes)
2. Go to Hyperliquid's website and deposit USDC
3. Trade on the exchange and create volume
4. Deposit USDC into their Hyperliquidity Provider (HLP) vault.

Tips to improve your eligibility

1. While the exact methodology for distributing points isn't public, we've observed that trading volumes over $1k earn points at approximately 1 point per $1k traded.
2. Trades under $100 seem ineligible for points. Make sure to size your trades accordingly.
3. Hold your positions for at least 10-15 minutes. It is unclear, but Hyperliquid seems to be filtering out sybils and wash-traders from the points system.
4. Try to accumulate at least 10-20 points. The more, the better. This can be challenging if you have little capital; however, you have until April to amass the points.
5. Hedge your position with other Perp DEXs with a points system (e.g. Zeta markets, Drift, Lyra, etc.). For example, you can open $1000 BTC long on Hyperliquid while also having $1000 BTC short position on Drift. In this scenario, you are holding a delta-neutral position (It doesn't matter whether the price will go up or down; you won't suffer huge losses).
6. Feel free to use the "CPRO" code to receive a 4% discount on fees.

Here is the video tutorial:

 

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Bungee + deBridge + LayerZero

Bridges are a key component of the Web3 economy. Many bridges don't have a token yet, and we've highlighted three bridges that are likely to run airdrop campaigns.

If you build your farming strategy through certain routes, you can drastically reduce the cost of farming these bridges.

How? Certain routes and chains have fee rebates and rewards if you direct your volume through them.

That means that you can farm multiple of these airdrops almost with no cost (you will still need some initial capital to bridge) by using the following strategy:

Action plan:

1. You will need ETH on the Optimism network.
2. Go to Bungee Exchange and bridge ETH from Optimism to Arbitrum. (Choose Stargate as a route) and you will get around 85% rebate on your fees in ARB.
3. Use deBridge to bridge back ETH from Arbitrum to Optimism (use Across protocol as a route in case of Jumper) and get 95% of fee rebates in OP.
4. Repeat.

Here is the video tutorial:

 

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Polyhedra (Linea+Scroll+LayerZero)

Polyhedra Bridge is a cutting-edge interoperability solution that connects various blockchain networks, enabling seamless communication and transactions between them. 

Leveraging advanced zero-knowledge-proof technology, Polyhedra Bridge ensures secure and efficient cross-chain interactions.

The protocol doesn't have a token yet, which means we can potentially qualify for an airdrop if we use the protocol.

While farming Polyhedra, you can simultaneously farm Linea and Scroll as well.

Action plan

1. You will need funds on L1s and L2s supported by Polyhedra (e.g. Optimism, Arbitrum, Polygon, BNB, etc). We will start with Optimism for demonstration, but you can start from any other chain you want.
2. Go to zkBridge and transfer Eth from Optimism to Scroll. After that, bridge funds from Scroll to Linea. From Linea, we refuel Matic on Polygon using Merkly.
3. Next, go to zkMessenger and send a message from Polygon to the BNB chain.
4. Go to zkBridge opBNB and transfer BNB from the BNB chain to the opBNB chain or from opBNB to the BNB chain.
   • • Notes: 
     • For this step, you will need some BNB on the BSC chain; you can directly withdraw from CEXs. 
     • It is called BNB chain on the interface, but it is essentially Binance Smart Chain BSC. 
     • Alternatively, you can perform step 7 to get BNB on the opBNB chain.
5. Go to Polyhedra Gallery and mint 2024 Dragon Year NFTs. You can mint only 1 NFT per wallet per chain. If minting the NFT on Ethereum is expensive, you can mint it on any other chain.
6. Go to zkNFT, and choose the network where you minted the NFT. Click "Import my NFT" and bridge it from one chain to another.
7. Go to Merkly and refuel gas from Polygon to the opBNB chain.

Here is the video tutorial:

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Cryptonary's take

Today, we presented you with three airdrop activities that could qualify you for seven airdrops: Hyperliquid, Bungee, deBridge, LayerZero, Polyhedra, Linea and Scroll.

It is recommended to repeat these actions weekly or monthly. 

Please note that farming these airdrops can be time-consuming and expensive in terms of gas fees. It's important to weigh the potential rewards against the costs and risks involved.

Therefore, make sure to farm projects you genuinely believe in and are interested in. This will help you stay motivated and committed to the farming process.

Happy farming!

Cryptonary, OUT!