As zkSync, Layerzero, and Blast experienced a decline in reputation in the second quarter of 2024, people began to seek new ways to make money, and smart investors naturally did not forget about the remaining 48% of the community quota of Aptos that has not been distributed.
This is not just wishful thinking on my part. On-chain data shows that the number of active Aptos users has been increasing since March, reaching a historic high in June, and the data shows no sign of slowing down:
Token Terminal data shows that on June 8th, the number of daily active users reached a record 1.3 million, marking the first time Aptos has had 1 million users in a single day.
I. Why does Aptos always heat up when the market cools down?
- Aptos is a historical airdrop project with the lowest distribution ratio and particularly high profits for individual wallets.
- In the first round, Aptos only airdropped 3% of the tokens. Even with this 3% token distribution, individual wallets could receive airdrops of 1000–3000u. It's worth noting that these wallets had only completed a few tasks on Galxe, voted on Gitcoin, and minted a few NFTs.
Aptos has prepared 51% of the token distribution for the community, with 48% still undistributed. Based on the current price, there is over $4 billion worth of wealth available for us to mine. This large amount of wealth can support the conversion of millions of users.
Recently, industry OGs have been hyping Aptos on social platforms, with some believing that Aptos will surpass Solana to become the second largest public chain.
- BitMEX founder Arthur Hayes is not just a "big talker." Let's not even mention the distant future; let's talk about the stablecoin project Ethena that went live this year, which was inspired by BitMEX founder Arthur Hayes's concept of "Satoshi's Dollar."
This indirectly indicates that institutions are also paying attention to Aptos and preparing to explore new opportunities on Aptos.
II. Is Aptos really preparing for a second round of airdrops?
Whether Aptos will airdrop again, how it will airdrop, and where it will airdrop is not just wishful thinking. Although the official source does not inform those of us at lower levels about these details, we can infer the following from the side:
Inference 1: Aptos released four tasks on Galxe
In the first and second quarters, Aptos released four tasks on Galxe (ending in April). The tasks were simple—just earn OAT. This may have been a market test.
Generally, if there is no operational plan, a project will not release tasks on a platform. This move indicates that Aptos intends to conduct a second round of airdrops. The trial phase may have passed, and they are now working on specific plans.
Inference 2: Aptos official information
From Aptos's official information, we can see that Aptos's token distribution is as follows:
- 51% of the community token distribution includes 410,217,359.767 APT held by the Aptos Foundation and 100,000,000 held by Aptos Labs.
- The official statement indicates that these tokens will be used to drive the growth of Aptos's ecosystem projects, so many people refer to the "community distribution" as the "ecosystem fund."
This means that the remaining 48% will be distributed to Aptos-based ecosystem users. We can also observe this from the actions of Amnis, the largest staking platform on Aptos.
Inference 3: Aries incentive plan, rewarding APT
Aries, the largest lending platform in the Aptos ecosystem, announced in mid-January that it would distribute APT rewards.
This indicates that Aptos may have reached some consensus with ecosystem projects, and the second round of Aptos airdrops may focus on distributing to ecosystem projects.
In addition to the above, there is other evidence indicating that Aptos will have more airdrops, such as developers on Aptos:
- The founder of the Thala project mentioned an "Aptos airdrop season."
- Many NFT project founders announced that they would airdrop tokens to NFT holders.
For example, in December of last year, the UNI GUI meme project airdropped 5000 gift boxes to users holding OG NFTs, such as Aptos Monkey, Aptos Ape, Flames, Pontem Dark Ages, etc. The Wapal NFT marketplace project airdropped 5000 gift boxes to users.
Furthermore, many projects on Aptos have not yet launched tokens and are expected to usher in an "Aptos airdrop season" similar to the Solana ecosystem.
So, the direction is clear. In the coming period, if we want to benefit from Aptos, we must actively participate in Aptos-based projects. Only users who actively participate in ecosystem projects will receive airdrops.
Which projects should we focus on interacting with?
I have researched the projects in the Aptos ecosystem and found 5 projects with a special relationship with Aptos, strong backgrounds, technology, community, and funding, which have been supporting the development of the Aptos ecosystem since its inception:
- Aries Markets
- Liquidswap
- Amnis Finance
- Merkle Trade
- Kana Labs
These projects will airdrop in the third and fourth quarters. Interacting with these projects will not only allow you to receive the project's own token airdrops but also earn Aptos rewards, allowing you to benefit from multiple sources.
Aptos Mining Manual Chapter 1: Aries Markets Airdrop Guide
(I) Introduction to Aries Markets
Aries Markets is one of the few DApps that has qualified for incentives from the Aptos Foundation. It now has a TVL of over $250 million, making it the largest lending protocol on Aptos in terms of TVL, accounting for nearly 50% of the TVL in the Aptos ecosystem, and the largest protocol in all categories.
The platform's borrowing amount has exceeded $100 million, highlighting the active ecosystem and establishing Aries Markets' current core position in the ecosystem.
Since January of this year, Aries has been running an APT incentive program, offering additional rewards for both lending and borrowing. Currently, stablecoin APY lending interest on Aries is around 20%-30%, and stablecoin borrowing rates have even reached negative rates in the past, making it a good destination for daily deposits and loans. This incentive program is ongoing and has collaborated with OKX and Pancake multiple times.
(II) Aries Markets Position
Since Aries has not yet issued its own token, many people may not see the potential of the token in the future. A comparison with similar projects on other public chains makes this clear:
Atlendis: An unsecured lending protocol on Polygon that allows users to earn APY profits by depositing funds into a pool or becoming a borrower to optimize capital efficiency.
Jupiter: A DEX aggregator protocol on Solana that allows users to search and execute swap trades with good fees by integrating liquidity pools from AMMs (Automated Market Makers).
Users participating in these two projects have generally received airdrops of the native token and other benefits.
(III) About Aries Airdrops
Aries recently launched a points program, allowing users to earn points on the platform through lending, borrowing, and referring friends, with points having a direct relationship with project airdrops.
1. Conditions for earning Aries points:
- To earn points, first go to the points page and sign up here.
- Points can be earned through Lending (Supplying), Borrowing, and referrals.
- The total deposit amount must be $100 or more.
2. Points accumulation rules:
- For every $1 worth of assets provided on the platform, you can earn 1 point per day.
- For every $1 worth borrowed, you can earn 3 points per day, with no minimum borrowing requirement.
The longer you participate, the more points you accumulate.
3. Referral system:
- Referrers can earn an additional 10% bonus on the points earned by the referred person. The best way to do this is to use multiple accounts to earn points.
(IV) Aries Operational Guide
Before starting: Ensure that you have $APT tokens on the Aptos chain for fees. It's best to transfer more than 100u of $APT tokens to the Pontem wallet in one go to avoid the cross-chain step below (you can buy $APT on exchanges).
Step 1: Register an account
- Registration link: https://points.ariesmarkets.xyz/rfw84n
- Link your Twitter account
- Link your wallet (can be the Aptos chain on the OK wallet or the Pontem wallet)
- Enter the referral code: rfw84n
Step 2: Cross-chain (optional)
If you have withdrawn more than 100u of $APT tokens from an exchange, you can skip this step.
- Click "Launch App" to enter the interaction page
- Click "Bridge" to use LayerZero or Wormhole for cross-chain transfers. If you have used many wallet plugins, you may not be able to connect to the wallet on the LayerZero page.
- In this case, the best tool for cross-chain transfers is Liquidswap
PS: If you have withdrawn more than 100u of $APT tokens from an exchange, you can skip the cross-chain step and proceed to the interaction below.
Step 3: Deposit
- Switch to the Lending interface
- You can choose the E-Mode, where the loan-to-value (LTV) ratio for assets in E-Mode is as high as 90%, while for other assets, the LTV ratio is between 40% and 80%.
- Select an asset for deposit, such as APT, USDC, USDT, etc.
Step 4: Borrow
Since I deposited USDC earlier, I want to borrow a different token, such as amAPT (which will be used in the Liquidswap tutorial below).
- amAPT is the collateral token for the Amnis Finance liquidity protocol, issued by the platform after staking APT. Amnis also has a points program, and using amAPT can earn us at least 3 airdrops.
The method is as follows:
- Select the amAPT token in the Lending interface
- Click on Borrow
- Enter the amount you want to borrow or simply click "max"
- Confirm
PS: When using the borrowing tool, be aware of the risks. If the asset value drops significantly, your collateral will be liquidated.
Many people borrow without knowing how to repay, so I get asked about it all the time, which is quite frustrating. In fact, it's as simple as following the directions: "Repay" is for repaying the loan, and "Withdraw" is for withdrawing your deposit.
After completing the operation, click on "Points" to view your points.
Aptos Mining Manual Chapter 2: Liquidswap Airdrop Guide (Key Points)
(I) About Liquidswap Background
If Aries Markets is very low-key and the project team is hard to find, then Liquidswap is a prominent presence in the Aptos ecosystem.
Liquidswap is one of the four flagship projects launched through the strategic cooperation between Pontem Network and Aptos. The strategic cooperation between Pontem and Aptos involves the development of tools, EVM, AMM, and more to promote the widespread use of its L1 blockchain.
Pontem Network has created Lumio L2, Pontem Wallet, Liquidswap DEX, NFT (Pontem Pirates, Dark Ages), and also supports NFT…
(II) Performance of Liquidswap
Liquidswap is the first and largest AMM protocol in the Aptos ecosystem, with a current TVL of $34 million and a daily trading volume of $10 million, accounting for over 80% of the trading volume in the Aptos ecosystem. According to official data, it has an average of 10,000 daily active users, making it the project with the highest number of daily active users in the Aptos ecosystem.
(III) Will Liquidswap Issue Tokens?
Yes, the official Twitter account @PontemNetwork started a community survey in May, and it is expected to issue tokens and airdrops soon.
(IV) Preparations for Using Liquidswap
1. Fund Preparation
- Fund 1: + 10.1 APT
- Fund 2: +100u
These funds are used for:
- Trading volume: + $5,000
- Interactions: + 30 times
- Adding liquidity: + $100, with at least 3 pairs added
- Staking: + 10 APT
The above are just basic estimates; the more interactions, the better.
2. Wallet Preparation (Use the same wallet as Aries)
- Phantom wallet
- Metamask or OK wallet
- Pontem wallet (if you previously had APT fees on the OK wallet, you can directly import using the original mnemonic phrase)
Here, we will start the tutorial using the Pontem wallet, and you can import it using the original OK wallet mnemonic phrase.
(V) Completing Interaction Tasks
First, log in to the Pontem airdrop page
https://airdrop.liquidswap.com/?ref=01HYAQ97X8M52ZCEJWEJBFVG7R
- Link your Pontem wallet
- Register your account
- Click "Go to Liquidswap"
Task 1: Generate Trading Volume on Liquidswap
- Choose any trading pair and make trades
PS: To qualify, it is recommended that each account generates a trading volume of over $5,000 and interacts at least 30 times.
LiquidSwap has set the following trading volume tiers:
- 1–20$ — coke
- 20–50$ — socks
- 50–300$ — ledger
- 300–3000$ — Ticket to NBA
- 3000–6000$ — Vision pro
- 6000–30000$ — Vacation in the Bahamas
- 30000–100000$ — Cybertruck
- 100000–10000000$ — House
You can view your trading volume and tier level on the LiquidSwap Dashboard page.
Task 2: Staking
- On the Liquidswap website, click "Earn"
- Select "Staking"
- Choose any section under "Validators"
- Click "stake"
- Stake at least 10.1 APT (It is recommended to choose a validator with a longer duration)
Task 3: Adding Liquidity (One Fish, Multiple Eats)
As mentioned earlier, we have exchanged for the amAPT token in Aries, so we can use the amAPT and APT tokens to provide liquidity (you need to have APT tokens in your wallet).
(1) Adding Liquidity, Specific Steps:
Step 1: Access the Liquidswap platform
- Click on "Earn"
- Select "Farms"
- Add amAPT/APT
Step 3: Stake LP
- Click on the "fish icon"
- Click on "Balance"
- Click on "Stake" to stake LP. The annualized yield here is 30%.
After adding liquidity, it will be locked for 7 days before it can be withdrawn. You can leave it there until the airdrop is distributed.
You don't need to complete all three tasks on the Liquidswap platform. You can add liquidity after generating trading volume, or you can choose to do any one of them.
The Pontem team has also released two NFT series, Pontem Pirates and Dark Ages. Some farming activities on Liquidswap can earn additional rewards by verifying ownership of these two NFTs.
Liquidswap is probably the most prominent project in the Aptos ecosystem. With the TGE approaching, many airdrop hunters have shared tutorials on how to participate in Liquidswap, along with the subsequent linkage with Pontem's flagship project, Lumio.
Aptos Mining Manual Chapter 3: Amnis Finance Airdrop
Amnis Finance is a liquidity staking protocol on APT, where users can exchange APT 1:1 for amAPT, which can be redeemed for an equivalent amount after 1 month, or directly exchanged at a discount of about 1% on the DEX. Users can further stake amAPT to earn staking rewards similar to wstETH.
The airdrop activity for Amnis Finance is still ongoing, and there are many ways to participate.
First, log in to the official website: https://stake.amnis.finance/retroactive, then choose a task to interact with:
(1) Mint amAPT, stake stAPT - 1 point for each APT accumulated (2) Hold amAPT, stAPT in the wallet - points generated hourly per APT, with a maximum of 1 point per month per APT (3) Provide amAPT-APT liquidity on Pancake Swap or Liquid Swap - 3.5x multiplier for points compared to holding in the wallet (recommended Liquid Swap) (4) Lend stAPT to Aries Markets or other lending protocols - 1.2x multiplier for points (Aries also offers point bonuses for stAPT)
Several of the tasks mentioned above have been introduced in the previous text. Please understand and integrate them.
Aptos Mining Manual Chapter 4: Merkle Trade Airdrop
Merkle Trade is a full-chain perpetual DEX, offering cryptocurrency, forex, and commodity trading with leverage of up to 1,000x.
In April 2024, it announced a $2.1 million seed round financing led by Hashed and Arrington Capital, with other participants including Morningstar Ventures, Amber Group, Aptos Labs, Re7 Capital, and Dorahacks.
Merkle Trade has not issued tokens yet. Airdrop points can be obtained by generating trading volume on the platform, with the following rules:
(1) Weekly tasks (including trading for 7 consecutive days) (2) Complete 5 trades (3) Make 2 trades on different trading pairs (4) Generate trading volume of 2000, 3000, 15000, etc.
The points reset every Tuesday at noon (UTC), and all unused MP will be burned.
XP points and MP are used to upgrade and obtain "loot boxes". The loot box is a box that can receive MKL airdrops (in the form of pKML tokens).
The higher the level of the box and the more tasks completed, the higher the airdrop received.
Merkle Trade link: https://app.merkle.trade/?ref=FNDP9T68
Aptos Mining Manual Chapter 5: Kana Labs Airdrop
Kana Labs is a collection of Web3 tools invested in by DWF Labs, which helps users access DeFi, GameFi, NFT markets more easily. Kana Labs' main products include liquidity aggregators from various blockchains, cross-chain bridge aggregators, wallets, SDKs for projects, and toolkits for integrated developers.
Kana Labs has not issued tokens yet. It is expected to launch a new user incentive program after the release of V2. As early users, we can stake and generate trading volume on its trading platform. The method is as follows:
- Log in to the platform: https://tinyurl.com/3e6n867d
- Connect the Phantom wallet
- Generate trading volume
That's all for today's content. The market is entering a boring phase, and it seems that the funds released from ETH may enter the Move ecosystem.
As Solana gradually matures, investors are also looking for new breakthroughs. The rotation of these funds will bring many hotspots, and there are still 48% of tokens without Aptos. The technology and ecosystem have been fully deployed, creating an investment paradise with its own traffic.
Arthur Hayes, the founder of BitMEX, said "Aptos will surpass Solana and become the second largest public chain," which may be realized in the next six months to a year. This will inevitably trigger an Aptos airdrop season, similar to the Solana airdrop season that exploded in December last year.
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