At Cryptonary, we believe this year will present many opportunities to build up your crypto portfolio through airdrops. 

Today, we share a fresh list of five exciting low-cost airdrop opportunities available right now. 

Let’s dive in.

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.

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1. Stacking DAO

With the upcoming halving and rebirth of Defi on Bitcoin, protocols building on top of Bitcoin will be a huge narrative in 2024. Stacks is one of the potential bets falling into this narrative that we covered.  

StackingDAO is the protocol that brings liquid staking to Stacks. It will soon launch its points system to reward those who hold stSTX and use stSTX in DeFi.

Looking at the number of followers on Twitter, we can see that Stacking DAO is underfarmed.

If you are bullish on Bitcoin AND the possibility of Bitcoin DeFi, farming StackingDAO can potentially result in a lucrative airdrop.

So here is how to earn points to qualify for an airdrop:

Action plan:

1. Withdraw STX from CEXes like Binance or KuCoin
2. You will need to install the Xverse Wallet
3. Go to https://app.stackingdao.com/
4. Connect your wallet
5. Deposit STX to receive stSTX
6. Happy farming!

Here is the step-by-step tutorial on how to farm this airdrop.

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2. Kinza Finance

Kinza Finance is another airdrop opportunity that we have our eyes on. Kinza Finance is a DeFi lending protocol backed by Binance Labs. 

Kinza has launched a points system that gives users a preview of how much airdrop they will get at the Token Generation Event.

Action Plan:

1. Got to the app
2. Connect your wallet
3. Deposit BNB/USDT/BTCB or any other supported asset to Kinza’s lending market
4. Earn points

Here is the step-by-step tutorial on how to farm this airdrop.

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3. EKUBO Protocol

EKUBO is the main DEX on STARKNET (L2 Solution for Ethereum). EKUBO raised $12mln from Uniswap and hasn’t launched its token yet. 

EKUBO has shared a tweet that effectively that they will “decentralise and open source” in Q2-Q4, which hints at a potential airdrop

Therefore, farming this airdrop might be attractive from a risk-reward perspective.

Here is how to do it

Action Plan:

1. Bridge ETH to Starknet using Orbiter Finance (You will need an Argent X wallet for that)
2. Go to the app and connect your wallet
3. Swap ETH to stETH
4. Deposit ETH and stETH in liquidity pool (For fee tier, choose 0.05% fee 0.1% precision)
5. Come back weekly or monthly to make swaps

Here is the step-by-step tutorial on how to farm this airdrop.

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4. Prime Protocol

Prime protocol is an omni-chain lending protocol powered by LayerZero and Axelar. They launched a points system, and their founder said they would reward early users for their contribution. 

It is a little underfarmed as, at the time of writing, the number of wallets participating stands at 11K. 

Here is what to do.

Action plan 1:

1. Go to the app
2. Connect your wallet
3. Deposit any supported asset using LayerZero for a prolonged period because the longer you hold your position, the bigger multiplier you will get (max 3x)

Here is the step-by-step tutorial on how to farm this airdrop.

If you are slightly degen, below are two other strategies to earn even more points while earning extra APY.

Action plan 2:

1. You need to have wstETH (recommended)/USDC on Optimism(recommended) or any other EVM chain
2. Go to Prime Protocol and connect your wallet
3. Deposit wstETH and borrow USDC on Polygon (3x points for borrowing) with 50% Loan-to-Value (LTV) - (Interest: 1.14%)
4. Go to Beefy Finance and deposit USDC to Compound (APY:10.84%)  or Stargate Vault (8.34%)
5. Earn points and profit the difference between Interest for borrowing and vault APY

Action plan 3:

1. Same as Action plan 2 
2. But borrow WBTC (50% LTV) on Arbitrum - (Interest: 0.42%)
3. Supply WBTC to Silo Vault on Beefy (APY 1.53%)
4. Earn points and profit the difference between Interest for borrowing and vault APY

Note. APY numbers are taken from respective protocols at the time of writing. They can change over time.

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5. Maverick Protocol

Maverick Protocol is a DeFi platform focused on helping users maximise capital efficiency. It aims to facilitate increased liquidity in DeFI and automates the liquidity concentration as price moves. It has raised $9M from Coinbase Ventures, Pantera Capital and Binance Labs to achieve this objective.

Maverick has already airdropped users once earlier in 2023. You can read more about it here.

But it seems there’s more where those came from. A second round was scheduled for December 2023 but has now been delayed to some time in the 1st half of 2024. Here is more information on the current season incentive program. So, how can you qualify for round 2? 

Well, the best strategy is to supply GRAI/USD on ZKsync to this pool. Action Plan:

1. Withdraw ETH from CEX or bridge to ZKSYNC using Orbiter, Bungee, or Jumper.
2. Go to the app
3. Swap ETH to USDC and GRAI
4.  Go to this pool
5. Adjust slippage settings to 0.00001%
6. Select the amount, then click Add Liquidity and stake

You might have to adjust the amounts of USDC and GRAI because the pool isn’t balanced.

1.  Click verify tokens:
2. Click approve GRAI (and USDC if it asks you) 
3. Confirm amounts:

You’re done!

Here is the step-by-step tutorial on how to farm this airdrop.

You can track your portfolio with Debank using https://debank.com/profile/youraddress This is a 3-bird, 1-stone strategy because you will also be eligible for Gravita marks and activity on Zksync. We recommend a $250 minimum activity, but more is obviously better.

You can also lock MAV tokens as a multiplier, but we think it is better to stay liquid and wouldn’t recommend this strategy.

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Bonus: How to minimise risk when farming airdrops.

Before you start going down the defi rabbit hole in pursuit of airdrops, we need to talk about wallet security. The last thing you want to do is click a drainer link from a malicious website. Do yourself a favour right now and install the following:

1. Rabby Wallet
2. Wallet Guard
3. Pocket Universe

Rabby is a state-of-the-art EVM-compatible Web3 wallet developed by the well-known DeFi portfolio tracking firm Debank. 

It currently supports 129 different chain integrations through its browser extension, with a mobile wallet currently under development. There are also whispers of Debank even issuing their token at some point down the line – using Rabby might make you eligible for Debank airdrops down the road.

Pocket Universe and Wallet Guard are free browser extensions that protect your assets when you sign web3 transactions. They are both open-source tools that identify scams and wallet drainers before they interact with your wallet.

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Cryptonary’s take

We believe these airdrops have a great potential to reward early users.

More importantly, there is still time to farm these opportunities and qualify for a share of the airdropped whenever they launch - but you have to get started right away.

If you are a more advanced Defi user, you can potentially combine airdrop farming with yield farming with bigger capital with the opportunities we presented.

Cryptonary, OUT!