{"time":1709162067346,"blocks":[{"id":"hJfczXfwMS","data":{"text":"Last cycle I was an accidental airdrop farmer on ETH. I have been an active user and contributed to several apps and protocols on Solana since 2021. "},"type":"paragraph"},{"id":"AJ0mVHicNW","data":{"text":"I refuse to be just an accidental airdrop farmer on Solana - not going to make the same mistake again. Over the years, I have learnt a few things about airdrop farming - here are the key ones. "},"type":"paragraph"},{"id":"T8SXNEi3E_","data":{"text":"None of this is financial advice BTW - DYOR."},"type":"paragraph"},{"id":"XoRIxc0hB5","data":{"text":"1. Capital Preservation is everything"},"type":"paragraph"},{"id":"7oMsUQCbmQ","data":{"text":"You may be a Degen looking for a 100X on your favourite Alt/meme, or a student with a loan, yet indulging in cryptos. If you can't stop yourself from over indulging - you risk losing everything."},"type":"paragraph"},{"id":"NX0F_fAh-Q","data":{"text":"Therefore, when farming, do not over indulge. Do not risk life time savings with any protocol. They are prone to smart contract risks, and you may find your favourite DeFi protocol drained and all your $ gone over night. Spread your capital across protocols."},"type":"paragraph"},{"id":"TCFIxeYH2W","data":{"text":"2. Focus on the Forest not the tree"},"type":"paragraph"},{"id":"caRovrKLjI","data":{"text":"I see people jumping across chains to farm airdrops. That is not my style. ETH was the consensus chain last cycle, this time it’s Solana."},"type":"paragraph"},{"id":"jFy7LM7kIP","data":{"text":"Often whale liquidity focuses on these top chains and robust price action relies on it. There are atleast 100 apps on Solana who could all do airdrops in the next two years."},"type":"paragraph"},{"id":"w329hfphno","data":{"text":"Focusing on one chain will help you build a community, get you key intel, and potentially make you an ambassador or a even a KOL - where airdrop is not the only way to make $."},"type":"paragraph"},{"id":"Wrnjnt9Lo6","data":{"text":"3. Choose your north star(s)"},"type":"paragraph"},{"id":"JReV5ktYNM","data":{"text":"Airdrops and memes can give you the crazy multiples"},"type":"paragraph"},{"id":"GYw84Vzsmw","data":{"text":"But have 2-3 high conviction plays (SOL, BONK) and accumulate them through the cycle as you harvest smaller and higher X plays. App tokens, NFTs and Memes could bring you higher multiples, but capital preservation can only be achieved with these high conviction plays. "},"type":"paragraph"},{"id":"0fWGEZCCUn","data":{"file":{"url":"https://publisher-ap.s3.eu-central-1.amazonaws.com/next-s3-uploads/864b011f-a1fe-421f-a973-e02d6ac4afb2/GFF1JEQXgAA1Q5n.jpeg"},"caption":"Find your North star!","stretched":false,"withBorder":false,"withBackground":false},"type":"image"},{"id":"1uTrg7tEi8","data":{"text":"You can still stay in the game, but move slowly higher through these more matured alts."},"type":"paragraph"},{"id":"UJmqkVGhM0","data":{"text":"4. Look for the outliers\n"},"type":"paragraph"},{"id":"ID5Gkg8C8C","data":{"text":"\nMomentum is important, but outliers often make you bigger $. $Jup is great, but was clearly overfarmed. Look for protocols that are under farmed. Number of eligible wallets is a good indicator\n\n@jito_sol, @Parcl, @MeteoraAG are great examples, I am sure there will be dozens more.\n"},"type":"paragraph"},{"id":"WhE4yaMlq7","data":{"text":"\nIn a week or two after you start farming, if you held a rank with a small $ amount, the protocol is under farmed. \n\nGo after these gems!"},"type":"paragraph"},{"id":"sIXvBm8bK7","data":{"text":"5. Go early, go small"},"type":"paragraph"},{"id":"QnM1HbPADu","data":{"text":"A wallet that I staked 1 SOL on Jito during their initial months of launch, turned out to be a $15k airdrop. "},"type":"paragraph"},{"id":"5vp4RFZTCv","data":{"text":"One app I am keen on now is Flexlend.Fi. They have an excellent use case and could be the Jupiter of the lending world if they executed well."},"type":"paragraph"},{"id":"zpa4NSXs9h","data":{"text":"Try apps, but use burners, and keep exposure really small"},"type":"paragraph"},{"id":"srvBBhN6Ua","data":{"text":"Be early, be small, be smart. "},"type":"paragraph"},{"id":"iziXHWXEWv","data":{"text":"6. Many vs Big"},"type":"paragraph"},{"id":"Gn_zMw8mdf","data":{"text":"In an overfarmed protocol, contributing big volumes with loyalty generally helps."},"type":"paragraph"},{"id":"jqlfFF5mdQ","data":{"text":"In an underfarmed protocol, spreading $ across multiple wallets can yield a better harvest"},"type":"paragraph"},{"id":"LATKf_8LmT","data":{"text":"This is more of an art than a science though, but this has been my takeaway from Jito and Jupiter."},"type":"paragraph"},{"id":"o4nBaSHwbl","data":{"file":{"url":"https://publisher-ap.s3.eu-central-1.amazonaws.com/next-s3-uploads/265313ea-e6a9-44b4-8bc9-8d3540ff018c/image.png"},"caption":"","stretched":false,"withBorder":false,"withBackground":false},"type":"image"},{"id":"jW_OU1pHT4","data":{"text":"7. Keep looking for intel"},"type":"paragraph"},{"id":"_HMQJUS8TP","data":{"text":"Unlike the last cycle, there are reasonable and credible signals before airdrops on where the price range would be for a token at launch. "},"type":"paragraph"},{"id":"F2pMzs8rEP","data":{"text":"Whales market, Aevo and Hyperliquid are a few platforms that can help you identify the range that a token would typically trade at opening. They also allow you to trade the token before opening, and have interesting price sync strategies for token launch. I am sure as this cycle matures, these apps are going to see a lot of traction."},"type":"paragraph"},{"id":"_FmaXPn07F","data":{"text":"8. Paper or Diamond?"},"type":"paragraph"},{"id":"WYhRSdcZvU","data":{"text":"Look at previous airdrops, analyse how big a project is in the ecosystem - that will help identify how robust their market making apparatus could be. Better investors would also point to robust price action."},"type":"paragraph"},{"id":"OJopjmMkOJ","data":{"text":"For the larger airdrops, invariably don’t paperhand it. They can absorb sell pressure and want paperhanders to help liquidity. Don’t oblige."},"type":"paragraph"},{"id":"LJjXZzsI5E","data":{"text":"For the smaller airdrops, I would take some profits."},"type":"paragraph"},{"id":"DkFW5jkhwQ","data":{"text":"9. Use a tracker app\n"},"type":"paragraph"},{"id":"xR7A-uHARX","data":{"text":"\nMake sure you add your wallets (no need to sign) to an app like @assetdash \n\nIt’s one of my favourite apps, helps me stay on top of my airdrops.\n"},"type":"paragraph"},{"id":"oH1T1flJga","data":{"text":"\nIt helped me spot my Jito airdrop that I had missed - again well worth the effort of adding wallets to an app."},"type":"paragraph"},{"id":"1eXu6T0aY2","data":{"text":"10. Celebrate your W\n"},"type":"paragraph"},{"id":"i98NrEKgXZ","data":{"text":"\nIt’s a way to thank the community that’s given you free lunch, and pump your own bags at the same time!\n\nIf you are on Solana, stay humble, grateful and enjoy your time."},"type":"paragraph"},{"id":"teD6yK5WGm","data":{"text":"2024 and 2025 would be life changing for those who stayed and accumulated when we had blood on the streets. Enjoy the much deserved W!"},"type":"paragraph"}],"version":"2.26.5"}