In this article, I have explored eight DeFi protocols with potential airdrops and yield opportunities that should be on your watchlist in July 2024.
Related: Four Reasons Why Bitcoin Is Rallying Today
- dAppOS: Seamlessly interact with dApps across chains with dAppOS. With notable investors like Polychain and Binance Lab, this protocol has potential. Look out for their V3 launch and airdrop!
- Symbiotic: This permissionless and modular protocol enables native staking for tokens, increasing network security. With a $5.8m funding round and an ongoing point program, Symbiotic is worth exploring.
- Elixir: Boost liquidity in Orderblock exchanges with Elixir’s modular DPos network. With partnerships from Hyperliquid and Dydx, this protocol has already powered 40% of total liquidity in DeFi Orderblock exchanges. Don’t miss their Apothecary campaign!
- Mitosis: Introducing Ecosystem-owned Liquidity (EOL), Mitosis enables LPs and protocols to adapt to multichain environments with clear rewards. Join their Expedition campaign for Etherfi LRT and more!
- Infinex: Unifying decentralized ecosystems and applications under a single UX, Infinex accelerates mainstream adoption. Participate in their Craterun program for rewards and NFTs!
- Hyperlane: This universal interoperability layer supports EVM, Non-EVM, and Cosmos blockchains. With notable investors like Circle and Kraken Venture, Hyperlane is worth exploring. Maximize your farming with their Nexus bridge!
- Shogun: Building an intent-centric platform for Berachain, Shogun eliminates the need for multiple swap UIs. Join their telegram beta and wait for Mainnet launch!
- Infinity Pool: Offering unlimited leverage on any asset with no liquidation, Infinity Pools is a breakthrough DEX. Backed by Dragonfly and Coinbase Venture, this protocol is worth keeping an eye on!
Let’s discuss in-depth about these 8 protocols.
How To Farm dAppOS Airdrop:
- The focus should be on the v3 launch.
- It is rumored that the v3 launch is likely to come with Token Generation Event (TGE).
- Interact with some Dapps in the ecosystem, but the trick is to be on the lookout for new dApps in the ecosystem as they launch a prize campaign for almost every new integration. For example, the recently concluded 50k Arbitrum (ARB) trading competition with Aark following their integration.
How To Farm Symbiotic, Mellow Airdrops:
- According to an interview with Symbiotic CEO Misha Putiatin, the mainnet will likely be up and running by the end of summer with TGE. This means that Symbiotic token would be live before EigenLayer’s EIGEN token becomes tradable. This could potentially steal the restacking narratives from the popular incumbent, Eigenlayer.
- Although Symbiotic’s ongoing point program has hit a deposit limit, there is a new solution that introduces another project Mellow, which will help us potentially participate in the airdrop campaign. Mellow is a Liquid Restaking Token (LRT) platform built on top of Symbiotic just like the way Renzo and EtherFi are to Eigenlayer where you can earn both Mellow and Symbiotic points simultaneously.
- Here’s a good Twitter thread explaining the above points by Pendleintern on how to maximize your yields by depositing on Pendle.
- The second way is to deposit $mETH on Symbiotic when the cap is lifted which gave 5x powder/day on Methamorphosis Campaign for the upcoming mantle LRT ($cMETH) governance token $COOK while simultaneously earning symbiotic points.
How To Farm Elixir Airdrop:
The Elixir mainnet is said to go live in August and in anticipation of this, there’s an ongoing campaign– Apothecary. In this campaign users earn ‘potion’ for providing liquidity across a wide range of available pools. Users can utilize three strategies to earn a rewards.
- By locking ETH on the mainnet until the network launch in August which gave a 50% bonus.
- By depositing on the Orderly Quantum program to earn ‘deeds’ which are powered by Elixir.
- Lastly, by being active in their Discord server.
How To Farm Mitosis Airdrop:
- Mitosis’ ongoing campaign Expedition supports EtherFi LRT weETH.
- Upon deposit you earn staking rewards (APR) and also earn rewwards via restaking and Eigenlayer, Etherfi points and Mitosis Points.
- If users deposit on tokenless Layer 2 (L2) solutions like a scroll, Linea, and blast (season 2) could also increase their chances of getting future airdrops.
- In total, Mitosis’ campaign has amassed over 45,000 stakers which comprises of large percetange of shrimp stakers whose deposit value ranges between 0 to 1 weETH. However, if users can deposit 1 weETH or higher that will put them in the top 3,000.
How To Farm Infinex Airdrop:
- Infinex has an ongoing program called Craterun where users earn ‘crates’.
- As stated by Kain, founder of Synthetic, this ongoing program isn’t a typical “deposit and earn point campaign,” but there is a twist. Craterun, which is the final campaign, runs for five weeks (ending on July 30).
- The first campaign has amassed over $100 million in just ten days.
- Roughly 5 million crates are up for grabs and every crate has a 50% chance to win 1,000 patron NFT, 5000 patron passes and a $5 million prize pool with many more rewards. So, technically, users aren’t just farming crates but actual rewards.
- Users can deposit assets like USDe, stETH, wstETH, and ezETH to earn two rewards at the same time.
How To Farm Hyperlane Airdrop:
- Users can use Hyperlane’s official bridge Nexus to transfer non-Ethereum Virtual Machine (EVM) transfers to Celestia (TIA) between chains.
- Alternatively, users can utilize the chain one integrated with their partner projects like Renzo, Nautilus, Forma, and complete ongoing Layer 3 (L3) tasks.
How To Farm Shogun Airdrop
- Shogun is waiting on Berachain Mainnet to start operations. So, technically, there’s not much to do right now other than communicating on their Discord channel to keep an eye on potential roles in the future.
- Also, users can join their Telegram beta.
How To Farm Infinity Pool Airdrop:
The Infinity Pool mainnet isn’t live yet, so users can turn on notifications for their Twitter and Discord for future updates.
