Insightful Insiders Premium #7 - Airdrops Opportunities For Q2 2024

"Money is a reflection of the work you've done in the past"

As Q1 of Bitcoin’s halving year comes to a close, we have already seen multiple monster airdrops. Millions of dollars in magic internet money was given out by $TIA, $JUP, $STRK, $W and many more.

With a few notable exceptions, whenever a protocol issues a new token, the team have to wait some time before cashing in on the fun.
If a reasonable vesting schedule is ignored, you can expect users to take up their pitchforks in protest. The dev team is usually required to wait multiple months or even a year before their own token allocation begins to unlock.

As Bitcoin searches for new highs, we can expect a full blown sprint towards TGEs, the token generation event that starts the clock for team unlocks.
Protocols are issuing their tokens much sooner than anticipated (thank you Wormhole).

The other side of this coin are the protocols that milk their users for every last quest on Galxe and every “organic” cross chain swap. You know who they are.

It can become challenging to determine where best to spend your time and resources. These newsletters are intended to provide insights into overlooked and under-farmed projects.

The best time to get ahead on farming points is long before twitter dilution sets in.

This week I want to look at 5 protocols in 5 different playing fields. Where possible, referral links are embedded. If you would like to try any of these protocols out, using these referral links helps support my research.

1/ Prime Protocol:

Prime is an omnichain lending protocol that facilitates borrowing against your total pool of assets across multiple chains.

Rather than borrow against each asset individually, a user can leverage collateral across 9 EVM chains backed by their total asset value. With Prime, there is no need to exit a position on one chain to earn yield on another. Prime allows users to earn yield on both. This is particularly useful for avoiding bridging fees to and from Ethereum mainnet.

Prime utilizes both Axelar and Layer Zero to secure cross chain messaging. Wormhole acts as a backup. This allows for enhanced security & redundancy against bridge attacks. Prime has been audited by Ackee blockchain and Veridise.

Prime is backed by Jump Capital who have a high hit rate with investing. Jump loves to invest in projects that generate tokens and we can share in that bounty with a juicy airdrop.

Points program:

Prime’s incentive program rewards loyalty with a snowball effect.

• For every 1 dollar deposited, one point is gained per year (Eg $1000 deposited /365 = 2.73 points per day)

• For every 1 dollar borrowed, three points are gained per year (Eg borrow $500 /365 * 3 = 4.1 points per day)

• After deposits or borrows are kept in the protocol for 1 week, points will start to accumulate at 2x the base rate. Deposits earn 2 points per dollar per year, and borrows earn 6 points per dollar per year.

• After deposits or borrows are kept in the protocol for 2 weeks, points accumulate at 3x the normal rate. Deposits earn 3 points per dollar per year, (8.2 ppd per $1000) and borrows earn 9 points per dollar per year (12.3ppd per $500) .

• Referring another user earns a 10% bonus on any points your referral earns.

• Obligatory referral link: https://app.primeprotocol.xyz/referral/0x810a2f5A0d36420eb630e3ecFf1C7B90d7CCA79f

I did some testing and after providing ~$250 and borrowing ~$120 for 2 weeks to get the increased multiplier, I’m currently sitting at around rank ~3700 out of 16k total wallets. This put the test wallet at around 45 points, just outside the top 20%, so not too shabby.

I believe Prime is under farmed given its unique omnichain niche in the lending space. It also makes for a passive, comfy farm.
Even a modest deposit left for the 2 week “superboost” can see you rocketing up the leaderboard. This also makes it a prime candidate to get your family wallets involved with.

2. IntentX

There are currently dozens of decentralized perp DEXs competing for your trading dollar. I have mentioned IntentX in the past but there are some interesting new updates for the platform.

So let’s get straight to the point, what makes the IntentX juice worth the squeeze?

IntentX is actually a 3 for 1 airdrop