Airdrop Farmer’s Week: MilkyWay Update, Archies NFTs & More
Greetings, farmers! 🌻
It’s been an interesting week in the fascinating world of airdrop farming! First of all, the whole re-staking scene is becoming a bit confusing as protocols and chains are linking to each other, offering bigger and bigger point boosts if you stake your $ETH with them.
Putting your assets to work in defi usually leads to even more X:ing of points and there are few places I’ve done this looping strategy of lending and borrowing assets to maximize my points.
In short, this means you lend a certain amount, use it as collateral, borrow more assets against that, and lend again. Usually, borrowing gives us more points than lending, however, this is always not the case…
🥛 Milking
Just the other day I learned something new about MilkyWay, a restaking dapp on the Cosmos ecosystem. I staked some of my $TIA there and received $milkTIA in exchange. Just by holding milkTIA in my wallet, I’m receiving points that’ll count toward the future airdrop.
Just like with Ethereum restaking platforms, you get even more points by taking part in all sorts of defi activities. Instead of just holding milkTIA, I decided to start another looping strategy but this time with MilkyWay. That’s when things got a bit weird.
From all the options I chose this platform named Demex. First I just lent all of my milkTIA and shortly noticed I started receiving DeFi activity and Defi bonus points which quickly exceeded my points for just holding.
To boost these points even further, I then went on to borrow some more milkTIA and lent that amount as well.
To my surprise, my points did not go up the borrow/lend action but remained exactly the same. After I asked this on MilkyWay Discord I was told that the borrowing amount is deducted from points which is pretty nuts. My total points stayed the same because I lent the borrowing amount and lending does increase points.
As mentioned earlier, on Ethereum defi protocols, borrowing is usually encouraged and we’ll get more points from this action than we’d get from lending. This is something that’s still puzzling but I guess it’s a bit safer that way at least.
Another thing to keep in when staking milkTIA is the possibility of other airdrops. Just recently I found out I wasn’t eligible for an airdrop because I was lending on an external defi platform. For that particular drop, only milkTIA held in the wallet was eligible.
So, to maximize your exposure for multiple airdrops it’s perhaps better to just hold milkTIA and forget about defi altogether. Then again, points won’t accumulate that fast if you aren’t staking with a larger bag.
By the time of writing this, I was still thinking about my approach and whether should I make some changes. Decisions, decisions…
🟠 Archies
I have always been more of a token guy but this week I took part in the Archies WL mint event. I won a whitelist spot in the X contest about a month ago and took a closer look at the Archies’ NFT collections on the Archway chain.
The total supply is only 3333 and there was obviously a lot of excitement in the air before the minting event. Unfortunately, the minting started a couple of minutes too early and many WL spot holders were left without an Archie as they were all minted in just a few minutes.
Luckily I managed to look at the page at just the right time and was able to mint 2 Archies. The mint price was 100 ARCH/NFT and quickly after the mint the floor price on the market was somewhere around 800 ARCH. By the time of writing this, the price is 1500 ARCH.
At the moment my Archies are in some sort of an egg stage, still hatching but their traits and rarity should be revealed soon.
Since I minted 2 of them(should have minted the max 5!), I’m considering selling the other one. At the moment I’m struggling a bit, wondering if I should do it now or wait for the reveal. I guess it’s kind of gambling at this point and I should know by now that there’s never the right time in the crypto space…
That being said, I’m definitely gonna hold on to at least the other one as there could be a lot of future benefits in doing so! For example, Archie holders should get early access to other mints, be eligible for multiple airdrops, and perhaps gain some points and perks in the Archway DropCamp which is currently one of my favorite airdrop farming projects.
DropCamp is still ongoing and there 3 patch slots left there so more airdrops might be on their way for happy campers!
🟢 Getting More and More Bullish On Grass
Lastly, I need to share this video by Thor Hartvigsen in which he briefly explains what Grass is all about(starting at 13:38).
Out of all the testnets and other free farming opportunities, just like Thor here, I believe Grass will launch at a huge valuation. It’s definitely the one not to miss in this cycle.
🪂 Conclusion
Besides getting the actual airdrops, one thing I love the most about farming them is the learning process. I’m constantly learning new strategies and developing my critical thinking. Even though I’m a lot of fun, the truth is, you have to stay on your toes most of the time as the space moves incredibly fast and there are lots of pits we can fall into.
The old phrase, “do your own research” is more valid in this cycle than ever. Not only there are many scammers out there but there’s also fierce competition between different dapps and chains. Do a lot of comparisons, read many articles, and try to find legit, honest influencers to follow.
Most importantly, be on the move all the time. It’s not slowing down.
Thank you for reading! Follow for more and check out my latest solid airdrop picks below 👇
More Airdrops To Farm:
🔸 deBridge — easily bridge assets across Solana & EVMs for example while farming their airdrop!
🔸 MilkyWay — stake TIA farm MilkyWay airdrop
🔸 Aperture — use as an interface to do swaps on OP, Arbitrum, Base, BNB Chain & more to get points for the airdrop
🔸 DFlow — bridge a minimum of $5 Solana tokens. Invite codes: 4H4WZ6 , DVJRVQ , 83EIC5
🔸 Grass — perhaps the easiest way to gain exposure for a potentially very big airdrop!
🔸 Archway — join the DropCamp airdrop waitlist
🔸 GRVT ZkSync Mystery Box — just log in and claim your first mystery box
🔸 Ether.fi — stake ETH for Points & EigenLayer points
🔸 Mode airdrop — bridge ETH to farm multiple airdrops
Disclaimers:
Thumbnail background image made with Canva, pictures are screenshots from MilkyWay and DropCamp
This article contains referral links — remember to DYOR, and double-check URLs!
