Currently, the number of deposit addresses for Bitcoin (BTC) exchanges has dropped to the lowest level since 2016.
Author: The DeFi Investor
Translator: DeepTechFlow
3 ETH Airdrop Strategies
If you hold ETH, you might as well make use of it in DeFi.
Currently, there are many high-quality ETH airdrop opportunities that could bring substantial returns.
Although the days of depositing $100 in a dApp and receiving a $1000 airdrop are gone, you can still earn a high double-digit annualized return through ETH.
Today, I will share three ETH airdrop strategies that I think are worth paying attention to.
Let's take a look.
1. Mantle + Karak
Mantle is the project with the largest reserve of funds in the Ethereum Layer 2 network and is also the developer of the rapidly growing ETH liquidity staking protocol mETH Protocol.
It has been confirmed that holders of mETH will receive airdrop rewards from the mETH protocol.
Here is the strategy to obtain the airdrop:
Visit Mantle's Methamorphosis airdrop campaign page, connect your wallet to participate in the scoring plan
After clicking the "Gather mETH" button, stake ETH and perform cross-chain operations
Then, deposit the obtained mETH into Karak. Karak is the third-largest staking protocol, and by depositing mETH on Mantle L2 into Karak, you can also receive Karak's airdrop rewards.
Reasons I like this strategy:
Through this strategy, you can simultaneously receive airdrop rewards from mETH Protocol and Karak
From September 4th to October 2nd, users who stake ETH and cross-chain to Mantle can also share an additional 1,800,000 $COOK tokens
Karak's mETH pool provides a 2x Karak point bonus. Additionally, I particularly appreciate that Mantle has clearly stated from the beginning that their first airdrop event will only last for 100 days in total.
2. Fluid + EtherFi
Fluid is an innovative DeFi protocol developed by Instadapp, and Symbiotic is the second-largest staking protocol.
By using Fluid, you can earn Symbiotic points with leverage of up to 11x.
Here is the strategy:
Re-stake wETH on EtherFi to obtain weETHs, which is the liquidity staking token provided by EtherFi for Symbiotic
Deposit weETHs into Fluid's weETHs/wstETH treasury
(Optional) Borrow wstETH on Fluid and exchange it for weETHs to increase leverage—increasing your point leverage to 11x
Reasons I like this strategy:
By depositing weETHs on Fluid, you can simultaneously receive 3.5x EtherFi points, 1x Symbiotic points, 3x Veda points, and 1x Zircuit points
Fluid provides the highest liquidation threshold in the industry. If you use weETHs as collateral to borrow wstETH, be sure not to be liquidated. However, one advantage of Fluid is that its liquidation penalty is very low. Even simply depositing weETHs into Fluid is valuable because you can simultaneously receive 4 airdrop rewards.
3. Kelp DAO + Pendle
Kelp DAO is one of the largest tokenless ETH liquidity staking protocols, and Pendle is the most popular yield trading protocol.
Recently, Kelp DAO launched the Airdrop Gain Vault, a product that automatically obtains airdrops from various L2 and DeFi protocols.
Here is the strategy:
Click "Stake Now," then select "Gain" in the top left corner
Deposit ETH or rsETH into Kelp's Gain Vault to obtain agETH
(Optional) Provide agETH to Pendle's agETH pool to earn additional returns
After you deposit ETH, Kelp's Gain Vault will automatically allocate your assets to multiple tokenless Ethereum L2 and other protocols.
Reasons I like this strategy:
The fee for the Gain Vault is relatively low, charging only a 2% fee per year
After depositing into Kelp's Gain Vault, you will receive agETH, a token that can be used in DeFi. Although the current applications for agETH are limited, the Kelp team expects to announce multiple new DeFi integrations soon. I hope these airdrop opportunities pique your interest! As I mentioned at the beginning of this issue, airdrops are no longer a quick path to riches because the number of participants has increased significantly. However, in my opinion, participating in airdrops is still a good choice for earning additional income.
On-chain Alpha
Currently, the number of deposit addresses for Bitcoin (BTC) exchanges has dropped to the lowest level since 2016.
Source: cryptoquant.com
This indicates that there are very few people willing to transfer Bitcoin (BTC) to exchanges for sale at the moment.
As a result, the amount of BTC held by centralized exchanges has been declining, which I believe is a positive signal.
As shown in the graph above, during the peak of the 2021 bull market, the number of active BTC exchange deposit addresses was nearly 20 times what it is now!
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