A new strategy is emerging in the cryptocurrency market that promises significant profits for astute investors. A renowned analyst recently shared a comprehensive guide to potentially unlocking over 100 airdrops by staking a select group of altcoins.
Although this strategy is relatively untested, its potential makes it an attractive topic for investors to study and understand its practicality and expected returns.
Promising airdrops for altcoins
Rekt Fencer, an influential For the Celestia ecosystem, Fencer recommended TIA staking of at least 2 TIA via Keplr Wallet and MilkyWay. This strategy is designed to leverage Celestia’s network growth.
“TIA Airdrops are currently gaining a lot of attention. There are four confirmed airdrops to date: Dymension (DYM), MilkyWay (MILK), Movement (MOV), and Doki (DOKI),” Fencer confirmed.
On the other hand, in the Injective ecosystem, there is a strategy to stake INJ through Keplr Wallet. Fencer also delegated to Black Panther and Talis Protocol, and encouraged participation in projects such as Helix and Hydro Protocol. This approach aims to leverage Injective’s powerful trading platform and diverse products.
“Injective is up 1,600% this year and has outperformed SOL, BNB and ATOM. However, looking at the ecosystem, it feels too early and most projects are still on testnet. This is the perfect time for projects to issue tokens and potentially do airdrops,” said Pepesso, another X user.
Read more: Best airdrops scheduled for January 2024
The Cosmos ecosystem also offers more diverse strategies. It involves staking multiple tokens including ATOM, OSMO, TIA, JUNO, SEI, and KUJI through Keplr Wallet. These different approaches can potentially reap rewards from multiple sources within the interconnected network of Cosmos.
Meanwhile, for Pyth ecosystem enthusiasts, Fencer suggested staking at least 100 PYTH on the Pyth dApp. Likewise, he recommended engaging in trading on platforms such as Drift Protocol and Parcl. This method leverages Pyth’s real-time market data feed and growing list of ecosystem projects.
“Pyth dominates the largest and fastest growing Oracle network, supporting over 140 dApps. It is not surprising that tokenless dApps powered by PYTH technology use PYTH staking as the primary criteria for airdrops,” Fencer added.
More airdrops are planned on the horizon
Strategies in the Eigenlayer ecosystem include staking ETH back on Eigen Layer and staking it on platforms such as Kelp DAO and Swell. Meanwhile, the Sui ecosystem strategy includes staking more than 50 SUI across multiple platforms, including Scallop and NAVI protocols, and collaborating with dApps such as KriyaDEX. The plan aims to leverage the high performance of these blockchains to generate significant profits.
For the Sei ecosystem, Fencer recommended staking SEI on platforms such as Yaka Finance and Kawa and trading it on vDEX.ai. Finally, he suggested staking 5 or more APTs on platforms such as Amnis Finance and Pontem Lumio in the Aptos ecosystem. This strategy is designed to benefit from a scalable infrastructure and DeFi ecosystem.
“Aptos Labs has successfully raised an impressive $350 million in two funding rounds, attracting investors such as a16z, Multicoin Capital, Coinbase, and more. Aptos airdropped only 3% of the tokens reserved for the community. There are still 480 million APT tokens that the community can claim,” concluded Ardizor, another X user.
Read more: Earn Passive Income with Forks and Airdrops in 2024
Fencer’s guides are extensive, but require a deep understanding of each ecosystem and staking process. Investors should conduct thorough research and consider the risks of cryptocurrency staking, including market volatility and technical uncertainty.
By following these steps, cryptocurrency enthusiasts can potentially unlock many airdrops, but caution and due diligence are of the utmost importance when exploring this high-reward, yet high-risk strategy.
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