Airdrop season continues with three fresh opportunities 

Many other projects that we have covered already are announcing their tokens and rewarding their loyal users and community members (E.g. Renzo, Drift)

These developments reinforce our belief that airdrop farming is still an attractive strategy for making money in crypto with minimal upfront investment. Therefore, we dug deep into the markets again and found another three exciting and fresh airdrop opportunities for you to capitalise on.

Many people have given up on airdrops; this could be your chance to get in with minimal competition.

Let's dive in!

TLDR

• This report covers three fresh airdrop opportunities for crypto investors: Avantis, Fyde, and Reya Network.
• Avantis is a decentralised leveraged trading and market-making platform on the Base network. Users will need to trade and stake on the platform for potential airdrops.
• Fyde is a decentralised treasury and asset management solution. Users can restake ETH on the platform to farm airdrops.
• Reya Network is a trading-optimised modular Layer 2 blockchain where users can deposit USDC to qualify for airdrops.
• We believe that airdrop farming is still an attractive strategy for making money in crypto with minimal upfront investment, especially after recent airdrop fiascos.
• These three opportunities have lower competition, and you can get decent airdrops.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. "One Glance" by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. These are not signals, and they are not financial advice.

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Avantis

Avantis is a decentralised leveraged trading and market-making platform that recently launched on the Base mainnet—a Layer 2 network backed by Coinbase. The project aims to democratise access to derivatives market making and trading, offering up to 100x leverage and deep liquidity for a wide range of assets, including crypto, forex, and commodities. 

The platform leverages USDC as its stablecoin, making it capital-efficient and enabling a broad selection of tradable assets.

Built on and backed by the Base network, Avantis is one of the first trading protocols to roll out natively on this network, indicating a close collaboration with Coinbase to potentially attract millions of first-time DeFi users into the on-chain world.

It has raised $4m from prominent VCs like Pantera Capital and Base Ecosystem Fund.

It doesn't have a token yet, and it doesn't have a points program. However, we believe the platform will eventually be tokenised, and the lack of a points program will make competition for the airdrop less crowded.

Therefore, we see an opportunity.

Action plan:

1. Go to Avantis and connect your wallet
2. Enter the referral code (CPRO)
3. You will need some ETH to pay for TX fees and USDC to trade
4. Go to the "Trade" section and make some trades. You can hedge your trades against losses by taking the opposite trades on other perp platforms (e.g. Zeta Markets, Drift, Hyperliquid)
5. You can also go to the "Earn" section and stake some USDC.
6. Make some swaps on the dApp as well
7. Repeat to create volume

Here is a step-by-step tutorial:

Fyde 

Fyde is a decentralised treasury and asset management solution that addresses the four pillars of cryptocurrency treasury management: diversification, asset liquidity, yield generation, and governance.

 It aims to revolutionise the way crypto treasuries are managed by introducing a trustless treasury management solution that tackles the challenges associated with managing a diverse and liquid portfolio of assets while maintaining governance control and generating yield for token holders.

The Fyde protocol allows users to deposit assets to mint TRSY (a yield-bearing wrapped token pegged to the portfolio), burn TRSY for asset withdrawal, and swap the USD value of one asset for another. This enables a more flexible and efficient management of a diversified portfolio of assets while also providing liquidity pathways for depositors through the TRSY token.

Fyde didn't raise much money from VCs. However, it is an interesting project with a small number of users participating, and therefore, we believe it has the potential to deliver a decent airdrop. 

Action plan:

1. Go to Fyde
2. Restake your ETH (the bigger size, the better)
3. Happy farming

Here is a step-by-step tutorial:

Reya

The Reya Network is a trading-optimised modular Layer 2 blockchain similar to Hyperliquid. It aims to create the deepest liquidity and the highest performance for DeFi traders and liquidity providers. It achieves this through a unique design that fosters shared liquidity across all exchanges within its ecosystem, thus improving market depth, lowering barriers to market entry, and improving users' trading experiences.

Reya Labs raised $16 million in a funding round led by prominent names in the crypto and venture capital space, including Framework Ventures, Coinbase Ventures, Wintermute, Fabric Ventures, Brevan Howard, Amber Group, and Robot Ventures. This funding is intended to support the ongoing development of the Reya Network and its ecosystem.

Action plan:

1. Go to Reya Network
2. Click on "Reserve boost".
3. Connect your wallet and choose your preferred network:  Ethereum, Arbitrum, Optimism or Polygon.
4. Deposit at least 10 USDC (The more, the better)
5. Happy farming

Here is a step-by-step tutorial:

Cryptonary's take

We believe that after the recent fiasco with EigenLayer and other disappointing airdrops, the competition for airdrops will be significantly lower (leading to less dilution). 

Think of it as "buying the dip" in terms of airdrop farming. Moreover, time after time, social pressure from communities seems to be so strong that projects are forced to change their token distributions, making airdrop farming still an attractive investment opportunity.

Therefore, if you invest the effort necessary to farm these three fresh airdrop opportunities, you should have a decent bag to show for it in a few months.

Don't fumble the bag!

Cryptonary, Out!