Digging For (Time Sensitive) Gems: Runes + Pathfinder NFT
The edge is where there is no current consensus and others are not currently looking
1/ Runes
Low effort time sensitive runes airdrop opportunity
Magic Eden is running a Runes summer event where 6 runes projects are going to airdrop their runes based on activity of users
Time window for most of these is ~2 weeks most ending July 31st, so ~ 3days from now
YOU MUST USE THE MAGIC EDEN WALLET FOR YOUR INTERACTIONS FOR IT TO COUNT
The amount dropped to wallets is based on various criteria
The top X amount of wallet based on volume is basically impossible to hit so that's a hard fade
The easiest one to hit and where the alpha is being in the top 500 based on number or transactions/trades
You can literally be in the top 100 with 5 trades lmao, leaderboards are updated weekly and they were just updated last friday, so assuming this doesn’t get super diluted you could push that up to 10-11 total trades/txns.
You can search for batches of runes that are in lower amount ($10-30) yo build out your number of trades, although you end up paying a ~30% premium for these small amount this is negatable as the size is very small.
Runes are so dead right now that everything after place 167 only need 1 txn to rank, so top 500 seems way too large of a users pool so either they are going to have to narrow it down to like top 250 or sybils are going to eat on this
You can fund a bunch of wallets via cross chain bridges like garden or rocketX to keep the funding source "clean" and not connected to your other wallets
https://app.rocketx.exchange/swap
Strategy is to just buy the top 10 runes based on number (rune 0 -10) or 30 day volume scroll down through the listings until you find one that is listing a small amount $10-$20 worth (runes are sold in "block" amounts) and thats the easiest way to build up trades, i’m assuming selling also counts as a trade interaction
airdrop could be worth dust, but with such a low threshold + lack of attention and bullish sentiment on runes right now I feel this is pretty good r/r
I also made a previous post around a month ago around my runes thesis
TLDR
Runes price chart has basically bottomed out for the “top runes”
Yet major exchanges like Binance are educating their audiences about them
Why would Binance indefinitely allow competitors (like OKX) to be the only/majority CEX marketplace for Runes?
Voluntarily losing out on all of those potential fees generated forever? I don't think so
There are lots of Runes to pick from but basically everything outside of the top 10 is a memecoin
I only think runes # 0-10 (and PUPS) have the highest chance of being "established" enough to be added to large CEXs
Ordinal junkies seems to like RSIC for what its worth
In this thread by @goatedxyz he goes over his bull thesis why a top 10 rune like @rune_coin (RSIC) is well positioned for this CEX onboarding shift
https://x.com/goatedxyz/status/1792993093790343446
For me I like RSIC + PUPS + Satoshi Nakamoto as my top 3 picks in that order
I think with the current macro environment + Trump more likely to be elected + interest cut rates this Q4 + "post halving effect coming into full swing in the next 1-3 months = BTC reaches or surpasses ATH sooner rather than later
I also think its a matter of when not if Binance starts to list Runes on their platform, this is the major catalyst I’ll be looking for (but not solely relying on this), if this happens Ill be aggressively taking profits.
The caveat here is that since Runes are basically a beta to BTC so BTC needs to reach or surpass ATH for risk appetite and volume to come back to Runes
2/ Pathfinders NFT
The best risk-free mint on the market might be approaching soon and nobody is talking about it Its @Pathfinders__ closely associated with @sanctumso by @soleconomist
So what’s making it stand out?
Narrative: It's being touted as the first "unruggable" mint on Solana.
We’ve all been burnt out by the overabundance and extractive nature of too many NFT collections, to the point where the hype has waned. Refundable NFTs: This innovation could change the game.
We haven’t seen anything like this since the early days of SOL NFTs. If you are not happy with your NFT you can redeem it for the underlying associate SOL LST pathSOL
Good Art: We haven't had a Studio Ghibli-style art mint on Solana. Despite the recent trend towards less sophisticated aesthetics, the PFP potential here is high.
@sanctumso's $cloud: Positive sentiment towards the Sanctum team and their mission on SOL is strong. LSTs are still top of mind for many.
NFTs Gaining Interest: The floor price will likely be tied to the mint cost or even exceed it based on the team's plans. You might even land a rare one.
It might be getting too late to stake pathSOL, as whitelist spots are based on internal points for how much and how long your holding their LST pathSOL.
However even just last week the Pathfinder team has said that there is still plenty of time to qualify and they will make sure that even new entrants over the next few weeks will still have an opportunity to get in.
If you have a few wallets with 2+ pathSOL staked for a 2+ months you’re probably in line to get whitelisted
In these final innings, I would try to push it to 5+ pathSOL if you can, but with 8000 spots to give out and this being relatively under the radar I still think competition wont be that high Well see how it turns out.
Mint structure details were just recently released at the most recent townhall yesterday
Mint Structure Overview:
Whitelist Allocation: Primary based on PathSOL experience, rewarding long-term holders. Loyalty boosts for consistent holders and measures to deter short-term farming.
Wallet Collection: Data gathering phase for whitelist spots. Active Discord members and long-term holders have better chances.
Token and Art Integration: Unique whitelist tokens feature 10 art pieces from the Pathfinder universe.
Tokens serve dual purposes: whitelist access and collectible art.
Two-Phase Whitelist Process for 10K Supply
Phase One: 8,000 tokens for PathSOL holders. Guaranteed mint.
Phase Two: 4,000 spots for wallets only (no tokens).
For PathSOL holders who missed out, selected communities, and those with the 10 pathSOL and 50 pathSOL discord roles can allocate to those they'd like to see included. FCFS mint.
Public Mint: After whitelist phases, depending on remaining supply. Timeline: Mint Date: August 27, 2024.
Whitelist Tokens Distributed: August 13, 2024. Token Trading: WL Tokens will be tradable on Tensor, offering residual value through their art components even if not used for minting.
TLDR: Think this is a great way to qualify yourself for a high quality mint that's currently going under the radar while still being able to maintain SOL exposure
That’s all for now wanted to get this one out quickly due to the time sensitive nature
Will be experimenting with short but more frequent posts in the future as I think its more easily digestible for everyone. Let me know what you guys think
Stay insightful