Future Airdrops For Free Crypto #73
Market Meditations | January 13, 2021
Today’s exclusive letter reveals the top 10 potential future airdrops.
Dear Meditators
Today’s exclusive letter reveals the top 10 potential future airdrops.
Your only downside is the gas costs you pay, while the upside is potentially unlimited. Who doesn’t like free money after all?
We also guide you through the use cases of cutting edge trading technology.
Ex-Ripple CTO Can’t Remember Password to Access $240M in Bitcoin ?
Almost a decade ago, Stefan Thomas, former CTO at blockchain company Ripple Labs, was given 7,002 BTC worth $2-$6 each for making a cryptocurrency explainer video. Thomas has used 8 of his most frequently used passwords in an attempt to access his IronKey hard drive and his now multimillion-dollar fortune but has had no luck.“I would just lay in bed and think about it. Then I would go to the computer with some new strategy and it wouldn’t work, and I would be desperate again,” Thomas told the New York Times. Read more.Ledger Offers Bounty For Information On Data Attacks ?
Ledger, the crypto wallet firm, has put up a bitcoin bounty worth approximately $350,000 for information on the attackers behind a series of data leaks. Ledger is also hiring additional private investigators and making changes to the way it handles information, which includes the launch of a new technical solution that will pave the way for funds insurance for individual customers. Read more.ECB President Lagarde Renews Calls For Global Regulation of Bitcoin ?
Lagarde has repeated her insistence that global regulators need to tighten the rules to ensure BTC falls under more coordinated oversight. In an interview at the Reuters Next conference, Lagarde argued:“[Bitcoin] is a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.” Read more.Mark Cuban Says He Has Been Holding Crypto For Years Without Selling ✨
“Shark Tank” host Mark Cuban revealed that he has been holding cryptocurrencies for years, without ever diluting the holdings. The billionaire touched upon topics ranging from decentralized finance (DeFi), supply and demand, and the cost of cryptocurrency transactions.Cuban also had a back and forth with Gemini co-founder Tyler Winklevoss on monetary supply during which the latter brought up the value of Cuban’s basketball team. Read more.
Future Airdrops For Free Crypto
For this article, we took a look at some projects that could potentially launch a token in the future.
Although there are no guarantees, even interacting with the protocols once can give you a solid impression of what DeFi is all about.
Although the idea is far from becoming mainstream, the technology works and has found clearly product-market fit this year. Don’t you want a scoop of what on-chain banking and non-custodial trading could look like?
A Brief History of Airdrops
There is a new trend in crypto that is making early adopters of decentralized finance (DeFi) protocols thousands of dollars, namely token launches through airdrops instead of raising funds.
Enriching loyal users without raising funds for the token can be viewed as an extremely fair way to initially launch a token.
1️⃣Uniswap
Uniswap, the most popular decentralized exchange (DEX) in DeFi, kicked off this craze by distributing 60% of the total token supply to early adopters of the protocol in an effort to place the project in the hands of the community rather than a centralized team deciding on the future of the protocol.
2️⃣1INCH
1INCH, a popular DEX aggregator, followed 3 months later which started off a treasure hunt for popular products in DeFi that weren’t tokenized yet.
Because both UNI and 1INCH airdrops were worth +$1000 dollar upon launch, it’s probably worth interacting with various protocols at least once in order to qualify for next potential airdrops somewhere in the future.
To use trader’s jargon, it’s an asymmetric bet.
Your only downside is the gas costs you pay, while the upside is potentially unlimited. Who doesn’t like free money after all?
Potential Candidates
DEX’s/Trading Platforms
1️⃣Metamask
Metamask is that app you’ll be using to interact with the protocols we mention below.
It is by far the most popular ERC-20 wallet and an almost necessary product to use if you want to participate in crypto outside of bitcoin.
They recently launched a feature that allows users to swap tokens directly from their wallet by combining multiple decentralized exchange aggregators.
The next time you want to buy something through Uniswap, try out Metamask’s swap and buy the token through the browser extension.
?Although gas costs are a bit expensive at the moment, it could potentially qualify you for their potential airdrop in the future.
2️⃣Matcha
Matcha is a DEX based on the 0x project that aggregates the best prices across a growing number of liquidity sources to maximize the value you receive on every trade.
The product is very intuitive and fees are competitive.
✅ Again, there is no information about a future launch of a token but simply using their product could potentially qualify if there were a retroactive distribution. Same as above, the next time you are planning to buy a token on Uniswap try doing it through Matcha.
3️⃣Paraswap
Paraswap is another DEX we recommend doing at least one transaction with.
There is no confirmation about a future token, but using these products let’s you scout Uniswap’s competition and potentially find a DEX with lower prices and/or fees.
Paraswap aggregates from a lot of different sources so gas fees are a bit higher, so try to avoid using it on a busy today this week’s crash in order to avoid outrageous costs.
4️⃣Dydx
DYdX is a decentralized trading platform that currently supports margin trading, spot trading, lending, and borrowing.
It is a platform built for more experienced traders and runs on smart contracts on the Ethereum blockchain, and allows users to trade with no intermediaries.
? DYdX founder has teased that the team exploring a token so this is definitely a good candidate for a retroactive distribution for users that have traded through their protocol.
5️⃣Opyn
Opyn allows you to earn a premium or take views on assets by trading options on ETH and ERC20s.
Options in crypto saw a huge surge in popularity in 2020 and is a trend that is expected to continue this year.
❓Opyn’s main competitor Hegic already has its own token so Opyn could potentially follow in the future.
There is nothing concrete about the launch of a token interacting with the protocol might be a good introduction to on-chain trading of options.
DeFi Dashboards
6️⃣Zerion
Zerion is a dashboard for DeFi users which lets you ‘build and manage your entire DeFi portfolio from one place.’
The platform allows you to borrow, lend and trade easily so you can fully take advantage of the DeFi ecosystem.
? Interact with their features and try out why they are one of the most popular wallet management platforms in DeFi today. It could prove worth your time!
7️⃣Zapper
Zapper is another simple dashboard for DeFi that lets you ‘easily track and visualize all your DeFi assets and liabilities in one simple interface.’
Connect your wallet to use the different features within the app. Some have rumoured that Zapper may launch its own token. Like always, no guarantees!
Miscellaneous
8️⃣Opensea
Opensea is the ‘world’s largest digital marketplace for crypto collectibles and non-fungible tokens.’
Have you ever received an NFT or are you planning to participate in the various on-chain games that are being launched? Buying or selling an item on Opensea could qualify you for a potential feature airdrop.
9️⃣SuperRare
SuperRare is a marketplace to collect and trade unique, single-edition digital artworks.
Although a token hasn’t been mentioned, SuperRare wrote that in august that ‘going forward, we believe a digital art marketplace like SuperRare should ultimately be owned and operated by the community. As the first step towards that, we’re building an advisory board made up of community members to advise and partner on resolution management and our overall strategy.’
? (Token)Sets
Set Protocol is a protocol that allows users to create, issue, redeem, and manage portfolios of ERC-20 tokens in a completely trustless way.
Sets automatically rebalance to make executing any portfolio strategy (e.g. range bound trading) simple by holding a single asset. Using Sets removes the need to manually manage multiple assets and rebalance your portfolio.
How (Not) To Qualify?
With so many rewards to be gained by simply using a protocol once, there are sharks that have been trying to game the system by creating hundreds of addresses that could potentially all qualify as a separate airdrop, amounting to potentially +$100,000.
To avoid this kind of frontrunning, 1INCH set a minimum requirement in order to qualify:
‘All wallets that have interacted with 1inch until December, 24, midnight (UTC), will receive 1INCH tokens as long as they meet one of the following conditions: at least one trade before September, 15, OR at least 4 trades in total OR trades for a total of at least $20.’
Keep this in mind as you go out and try these various protocols and try buying/selling at least $50-100 worth of an asset so you don’t end up below the threshold.
Conclusion
And there you have it. A history of airdrops, potential future airdrops and how to make sure you qualify.
Although I’ve covered the top 10 that were mentioned the most across various speculation posts about this particular topic, this list is by no means exhaustive and it is worth keeping an eye on new products that have not launched a token yet.
Good luck and have fun exploring all the exciting products that DeFi has to offer.
#39 Guided Meditation: Time Optimization, Networking and Passion
As you know, our goal in this newsletter is to increase your awareness of the crypto space, advance your understanding of technical analysis and help you master trading psychology.
Today, we want to challenge you to dive deeper.
What if you could crawl into the psyche of some of the world’s best crypto traders? What if you could hear them elaborate on their technical analysis? What if you could dissect their psychology and understand why they approach trading the way they do?
Today’s episode compiles the best insights on technical analysis and trading psychology from our first twenty guests and even reveals a remarkable set of stories from the behind the scenes of the industry. You’ll hear from your favorite Twitter influencers around making money, pursuing your passion, managing time, creating a daily routine, and much, much more. There is no better episode than todays to get started listening.
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