The 'leftovers' rounding out the BTC airdrop ecosystem

tying up loose ends

Filtering Out The rest of garbage

Rootstock: Bitcoin sidechain with a decent development record and dedicated team, raised $4.5M in funding.

However, when it comes to Bitcoin Layer 2 solutions and sidechains, Rootstock doesn’t really stand out in any way that is appealing and the transaction are expensive and slow.

Bitfinity: not fully launch, no strong differentiation, no notable amount of raises or funding valuation = easy fade.

StratoVM: another BTC L2, some private funding but still in testnet, too many other options for project that are already in mainnet currently, so ignoring for now. Might be worth checking out when mainnet is launched.

BEVM: a BTC L2, low TVL, not interesting because there are no good BTC LST compound plays to be had here.

SatoshiVM - had a scuffed rollout and got a lot of backlash for being a KOL pump and dump shill fest, was covered by ZachXBT, easy fade.

Merlin Chain: a BTC L2, already has a token, sentiment wasn’t great after the S1 airdrop of 20% of the supply, future seasons have 16% of the supply reserved.

While its a fade for now with 2M “active” addresses on the network, it has high throughput (100k+ transactions/second) and there are multiple LSTs compound plays.

Might be worth to give it another look if you want to take the “S2 hedge” approach (your assuming S2 with be more +EV than S1 because wallet competition has drastically dropped off due to low initial sentiment and lack of current attention).

Velar: “first” BTC perp DEX, not a fan of pure perp DEXs and has already had its TGE, only ‘saving grace” here is that the “community incentives “ are 35% of token supply.

Lambda Finance: BTC-backed stablecoin btcUSD, funding is too small at $1.8M for me to be interested.

Ducat: same issues as Lambda

Ordiswap - ordinal trading platform, has already had TGE and no clear indication of future incentives /airdrop.

Blend - basically a AAVE clone for BTC L2s, no points program or compound plays = fade.

Bool Network: raised $2M,basically a bridge between BTC mainnet and BTC L2s, bridge is expensive, but they have a points system so I would only use if you need to get funds into a tokenless L2s “naturally”.

Karak and Symbiotic: you can deposit LBTC and fBTC to farm these but imo its better to farm these with your “EVM exposure” farming portfolio, there are better options to focus your funds on BTC exclusive farms

Anything that is just a perp DEX - takes too much time to farm and after paying fees and losing money on trades trying to farm volume makes it generally an easy fade, see Orderly or LogX as past case studies on the EVM side.

The rest of the “Good” BTC farming options (that havent already been covered)

EtherFi (eBTC): EtherFi's is doing a good job of continuously expanding their product offerings and integration, such as the Karak and Symbiotic eETH strategies.

This makes eBTC a good option it essentially packages LBTC, significantly boosting your rewards with 2x Lombard, 1x Babylon, 1x Symbiotic, and more. Pendle offers the best options currently for leveraging BTC LSTs

There's also a Pendle pool available to enhance your point earnings. Additionally, you can use Contango to amplify a PTeBTC/eBTC position for up to 40% APY. Just keep in mind that PT comes with a trade-off in points.

pumpBTC: provides an alternative for LST enthusiasts.

I like their Pixel style UI, and they don't seem overly farmed due their smaller amount of funding.

However, to my knowledge, they lack financial backing (or anything significant enough to have info on Cryptorank. You can stake fBTC (mantles BTC LST campaign, I’ve covered in past newsletter posts and on twitter) so my minimal exposure is through that but it's not high on my list.

Lorenzo Protocol: funded by Binance (although not clear or public how much), presents an intriguing strategy similar to Pendle, using PT/YT tokens. It offers dual-staking, allowing users to stake BTCB to receive stBTC (PT) and yBBN2 (YT).

Cheapest way to bridge in assets is via BTCB from Binance smart chain, your only other options are BTC mainnet or B^2 chain.

EVM Referral (bonus points): VdmgyNpS

Arch Network - BTC L2, EVM compatible, $7M in funding backed by Multicoin and OKX.

They recently launch their points/social campaign, while I’m not a fan of these campaigns I’ve been told by someone close to the team, that the first wave of users in this campaign will be getting an extra bonus in the future airdrop.

While this may be minimal if you already have a BTC wallet that has trading activity of some Runes or Ordinals this seems very +EV as you will get a ton of bonus points/ badges once you connect a wallet and set up and account.

For reference I only probably had a total of ~$5k volume (in buys and sells) of Runes and Ordinals on my main wallet and I was able to get straight to level 5 or around 90k XP, while most of the remaining social quests currently available only got me ~10k XP.

So my strategy is to just set up my main BTC trading wallet for this bonus, do some of the easy social quests (follow team X accounts , join discord ect) and then check back in later when they will likely have the standard TVL based point system when the amount of points you get is based on how much TVL you deposit over X amount of time.

You can use this ref link here to get a initial boost in bonus points

https://dashboard.arch.network/?referralCode=f112f7da-e004-40ca-943b-ccda9739f91b

B² Network: to be honest I haven’t dug into them pretty deep, they had a recent raise announcement of an undisclosed amount recently on Oct 21 20204, and seems to have decent traction/user metrics.

Compound play that I’m doing is I’m taking my wallet that funds in Lorenzo (stBTC) on BSC and then deposition that into Pell network (raised $3M) since I don’t have B^2 or Pell exposure already.

Farming options page - https://honey.bsquared.network/

Lorenzo specific instructions (you can go straight to step 3 if you stake BTCB into stBTC direct on BSC so you don’t have to mint and then bridge from BTC mainnet) - https://buzz.bsquared.network/deposit/7?callback=/farming?tabId=1

Satflow - good funding, feels like the “next blur” for trading ordinals and Runes, launched recently, points system went live recently, use a wallet that has BTC Runes or Ordinal trading activity to get a good starting boost tot your points.

Sadly none of the current wallet work with a hardware wallet or ledger integration (I literally tried all of the options) so you have to use a hot wallet to register and interact with the platform

How to approach the current farming landscape