Solana's airdrop season is not over, yet

That’s right, some good news, soldier: you’re not as late as you think.

2024 will bring more opportunities, but with those opportunities, there will be more eyes and diminishing returns. 

So buckle up and get on the airdrop ladder before it is too late.

A couple of things to note before we begin.

1. Airdrop farming is usually risky as you are rewarded for being early. Being early means you’re testing products. Never use money you aren’t okay with losing.
2. The most recent Jito airdrop shows that you would’ve been rewarded for using multiple smaller wallets rather than a larger wallet. 
3. Do not discredit the value of joining a community and giving feedback. We implore you to join every discussion that you can. Pyth, for instance, gave 3000 tokens to anyone who had joined only a few months prior.

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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1. Zeta Markets & Drift Finance

This section explores the synergy between Zeta Markets and Drift Finance, two prominent perp DEXs in the Solana ecosystem. Users can optimise their trading positions by strategically engaging with both platforms and maximising potential rewards. 

This approach involves depositing USDC into both platforms and managing trades in opposite directions to balance risk and reward.

Strategy:

• Deposit an equal amount of USDC into both Zeta Markets and Drift Finance.
• Open opposing trades: i.e. Long $1,000 of SOL on one platform and short $1,000 on the other.
  • Please be cautious if you need to become more familiar with Perpetual trading. We suggest watching this video. 
• Every few days, close these positions.
• Transfer the positive Profit and Loss (PnL) to the losing trade and re-open the positions.
  • Funding rates will inevitably mean losing more than you should, but this should be negligible. 

Don’t know how to trade perps? Treat this as a great way to learn with minimal risk.

Three tips for best results

1. Head to Tensor and purchase a Z-Pass card to enable a trading boost on Zeta Finance.
2. Watch for Drift’s ongoing lottery, which rewards traders with tickets to enter jackpot sweepstakes.
3. With Perp DEXs, volume is most likely preferred to the number of wallets.

2. MarginFi, Solblaze, and Kamino

MarginFi, Solblaze, and Kamino offer unique staking and liquidity opportunities within the Solana ecosystem. 

This section provides insights into how users can diversify their investments across these platforms to earn rewards and participate in different aspects of the ecosystem, such as lending, borrowing, and providing liquidity.

Strategy

• Stake SOL on SolBlaze to get equal amounts of native SOL in MarginFi's $LST and Solblaze's $bSOL.
• MarginFi is rewarding points and planning a stablecoin launch.
• Lend LST on MarginFi and borrow 50% of a different LST like jitoSOL.
• Pair jitoSOL (or other) with 50% of your $bSOL and supply to Kamino.
• Kamino's point season is about to start, and a multiple-wallet strategy is beneficial.
• Deposit remaining bSOL into Superstake for additional BLZE tokens.

Three tips for best results

1. Multiple accounts are recommended for enhanced rewards. 
2. SolBlaze is timing its following rewards campaign to align with the end of Jito's season. We have been informed that holding BLZE will also count towards this next rewards season. Now might be an excellent time to buy BLZE. Check out our deep dive on BLZE.
3. Rewards from SolBlaze will be distributed directly to your wallets periodically if you use their protocol (Stake Sol and use bSOL in defi). You can check your rewards and scores here.   

3. Jupiter & Phoenix (Ellipsis Labs)

Jupiter, a DEX aggregator and Phoenix, a CLOB DEX, offer users various ways to engage with decentralised exchanges and earn potential airdrops. This section guides users through using these platforms for trading and taking advantage of their unique features, including Jupiter’s innovative DCA tool and Phoenix’s swap functionalities.

Strategy

• Buy BONK, PYTH, or SOL on Jupiter 
• Phoenix has limited pairs currently.
• Deposit either into Phoenix
• Use the DEX to swap back into USDC or SOL
• Create limit orders on both platforms
• Do so weekly

Three tips for best results

1. Jupiter has announced multiple snapshots for airdrops.
2. Use Jupiter’s DCA tool for all your low-liquidity purchases.
3. Volume is always the goal for DEXs

4. Tensor and Backpack

This section delves into how users can participate in these platforms' NFT projects, such as Tensorian and Mad Lads, to earn rewards and potentially benefit from future airdrops, token releases, and other incentives linked to these NFTs.

Strategy

• Purchase a Tensorian NFT and stake it on Tensor to start earning rewards.
• For risk-takers, consider the Mad Lads NFT project associated with Backpack.
• Staking Mad Lads NFTs in the Backpack wallet app could yield loyalty counters and potential airdrops.

Three tips for best results

1. Mad Lads is a very loud community and has been full of hype.
2. Set alerts and wait for significant pullbacks.
3. The price tag is high, so be patient and don’t FOMO in.

5. BONUS: Mayan Finance & deBridge

For users looking to move funds into the Solana ecosystem or enhance their involvement, Mayan Finance and deBridge present compelling options. This bonus section covers strategies for using these platforms to bridge assets into Solana, potentially opening up opportunities for airdrops and other rewards.

Strategy

• If you are moving funds to Solana, use Jupiter’s Bridge Comparer tool to find the best pricing.
• Engaging with Mayan Finance or deBridge could lead to potential bridge token airdrops.

An important tip to note

• The safety of bridge tokens is not guaranteed; stay cautious.

Cryptonary’s take

Airdrop farming is a great way to build your portfolio if you don’t have a significant starting capital. The only point is that you make for those coins in terms of time and effort. However, it is important to remember there are no guarantees for time in and money out. 

The only guarantee is that you will earn money you did not have before, which, if you’re patient and have good timing (with our help, of course), you will be able to return good profits for the time you put in. 

We will let the community know of any changes and new opportunities! Solana in 2024 is going to be very exciting.