8 projects with nice yield opportunities & airdrop farming potential
Hey, friends!
Here are some protocols with untapped opportunities, like yield opportunities, airdrop, etc., that you can explore today.
They consist of potential projects from different networks and sectors.
Let's sail the sea, anon.
8 projects with nice yield opportunities & airdrop farming potential
1. Karak
It is a close competitor with Eigenlayer, with over 900m TVL, and raised $48m series A at $1b valuations from prominent investors like Pantera, Coinbase Venture, and more. There are several strategies to earn Karak XP, just like Eigenlayer points, including depositing LRTs, which gives you exposure to eigenlayer points while earning Karak XP simultaneously.
Pendle has launched three pools to farm Karak, and more to be expected; the first pool is for USDe upon deposit, you earn 2X Karak XP and 20X Sats per day; the second pool is for eETH, where you earn 1.5 Karak XP, 2X Etherfi points, 1X Eigenlayer, point, the third pool is for sUSDE where you earn ETH short funding rate,5x Sats per day + 2X karat XP, it now depends on you to choose your preferred pool and note that pool is capped at $100m so hurry. Moonmath estimation from Pendleintern suggests an average of 98% returns on 1,000 YT-USDe if Karak launches at $2B FDV with 5% supply distributed and a snapshot taken at the end of September. Check the tweet below for more hopium if they launch at higher FDV:
2. Catalyst
It is a cross-chain Amm builts to connect all L1s and L2s; they envisioned a future where all chains connect automatically as they launch and efficiently share liquidity, dissolving barriers between chains to create a global liquidity layer. Mainnet is live on Op, Base, and Blast, with more chains to add. They secured a $4.2m funding round from prominent investors like Circle, hashkey, Spartan Group, and more.
I love Catalyst because of how underfarmed it was; even though the Mainnet has been live for over ten days, it was never listed on Defilama, with TVL less than $500k
Following the popular trends with projects that reward users(airdrop) for their participation, Catalysts has a live campaign where you earn eggs over eight weeks for your interaction; the more you swap, the more eggs you get. Referrals and LPs are also considered, but early LPs get an egg boost based on the size of liquidity provided and duration.
3. BSX
It is a Limit Orderblock built on Base that features the non-custodial system of 'off-chain execution' and 'on-chain settlement' which merges to form a decentralized exchange with CEX-like experiences such as instant execution, high throughput, and 10-millisecond order matching, Backed by Base ecosystem funds and raised undisclosed funding round with participation from Bankless, etc. and their advisor being no one other than Authur Hayes.
They have an ongoing point system akin to hyperliquid but with a twist: 8 million points will be distributed for eight weeks/epoch, with 1 million points shared on each epoch. You earn points through actively trading on the platform, but the system deters inflated activity like wash trading. Earning Points vary due to different factors like trading and referral, and no exact formula points are calculated to avoid system gaming. You earned more points by holding a position longer, referring users to the platform, participating in a campaign, or depositing. The points through deposit go as follows:
4. Avantis
Avantis is a decentralized leverage trading platform where users can long or short synthetic, crypto, Forex, and commodities through a financial primitive called 'perpetual future contract'; in case you are new to a perpetual futures contract, it's an essential type of derivative instrument that allows traders to speculate on the price movements of various commodities without actually owning them. Unlike traditional futures contracts with expiry dates for positions, users can hold on perpetual future contracts as long as they want. It uses a funding rate mechanism to maintain the price of underlying assets. Base ecosystem funds also invested in Avantis and have secured $4m seed rounds from Tier S investors like Pantera and Galaxy.
Unlike other projects that launch a point system to keep milking their users, Avantis uses a different approach to reward and build organic relationships with their users through the Trade to Earn campaign with over $250k USDC in rewards to be distributed over 16 weeks ($15k/week). Based on trading volume, $15k is up for grabs each week; the system deterred irregular behaviors like wash trading. The top 5 and Top 20 on each week's trading leaderboard are rewarded with Chad roles on Discord and Avantis hoodies, respectively. Considering their Tier S raises, it's underfarmed, with less than 3k traders on the leaderboard and $7.5m TVL.
5. Kakarot Zkevm
It is an Ethereum virtual machine (EVM) implemented in Cairo; it leverages STARK proofs for provable blocks and transactions while ensuring transparency and security. The core Vision of Kakarot is to bring EVM to starknet, allowing developers to deploy their solidity contract on starknet seamlessly, which opens the door to a new range of opportunities and expands the Starknet ecosystem. They secured undisclosed investments from starkwave, OKX ventures, and vitalik Buterin, who openly shill them on Twitter:
They are currently in the Public whitelist testnet phase, where your address needs to be whitelisted to enter. The code to enter the whitelisting phase is capped at 200, and ten invites are given out daily on Discord and TG until the cap is reached.
6. Phoenix
Is the decentralized limit Orderblock Dex on Solana, consistently ranked number 5th of the Solana Dex category with over $18m TVL
They raised $23m from S-Tier investor-like paradigms; the reason why they are less talked about even with their vast raises is due to the inactivity on social media, i.e., Twitter, the last tweet is dated back to May 03, and no ongoing campaign, to keep the community engaged. Airdrop hunters disliked being in the dark, so they left it for another project that teased airdrop since the whole space was fighting for attention. Still, OG farmers leverage this 'uncertainty' to their advantage by interacting while no one cares (this interaction is considered organic by the project and reward bountiful). The only way to do this is by consistently trading on the platform. Phoenix launching a token is still speculative.
7. Superform
Is a universal yield marketplace that allows users to deposit on both chain or crosschain without switching RPCs or bridging themselves, done through the use of an Amb (Cross-chain messaging) solution and two value transfer providers are Hyperlane(tokenless), Layerzero, wormhole, socket (tokenless) and Lifi(tokenless), interaction with superform simultaneously give you exposure to other tokenless protocol as most of their cross-chain transfer solution is tokenless. They've secured a $6.5m funding round led by S-Tier investors like Circle and Polychain and angels like Bryan (founder of Layerzero).
The yield market is finally live in open access with a campaign called 'Superform Safari' made up of tournaments where you compete with others to rank up and earn Yield, XP, and superfrens NFTs. Anyone who deposits on superform earns XP Pro rata with their position in USD; the more XP you earn, the higher you rank in the leaderboard. Superfrens NFTs serve as a multiplier for your XP. The rare the better; it has three tiers that determine the rarity, which is called frenslist:
8. Mantle
It is one of over 100 L2s in Defi today. Still, what difference is prominent backers like bybit (3rd largest Exchange) with over $3.93b treasury ranking 2nd alongside Ethereum as the largest treasury in Defi. One of the ways they utilize this vast treasury is by bolstering their ecosystem. For instance, to add more utility for holding $mETH (their own LST) on top of its double yield, they staked a portion of the treasury on the Eigenlayer which in return qualifies $mETH holders for eigen layer airdrop, same as they do with Ena Sats. $Mnt staker also earns free tokens through a campaign called 'Reward station,' and they recently featured a 1m $INTX tokens airdrop for $Mnt staker:
Now they are about to Launch their LRT, which is called $cMETH, where mantle deposits directly on a Liquid restacking platform, e.g., Eigenlayer, and offers a receipt token $cMETH, which can be reused in Dapps and accruing yield at the same. $cMETH is said to be launched sometime in Q3 with a point system for early adopters, $mETH holders, and $Mnt staker in anticipation of a new GovToken called $Cook. More details are said to be discussed in the future.
That’s all for today frens.
Stay safe.
That’s it for today, anon!
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Nice summary. I'm picking this up for my weekly rundown!