Crypto airdrops….the hype of them was re-ignited while I was gone,
having a break from the tube. Aptos delivered crypto drops to it’s community,
netting many a cool 6 thousand bucks for just enjoying their product on it’s testnet.
I’m sorry frens for being AWOL during an airdrop…but more are coming which could
be much more lucrative. So ring the airdrop alarm….because it’s time for Chico Crypto!!
Airdrops are not all the same, there are good ones which put thousands to hundreds
of thousand of dollars in people’s pockets….and there are straight up
garbage ones who only airdrop because of the hype it creates…I only cover the good ones!
So let’s dive right into the meat of this episode….I think Layer Zero
is going to do an airdrop soon which could net recipients more than APTOS.
First what is Layer Zero and why is it going to be good? Well Layer Zero is the first
trustless omnichain interoperability protocol, which provides a powerful,
low level communication primitive upon which a diverse set of cross-chain applications can
be built. Two applications built on different chains can reliably
and securely communicate with each other through Layer Zero endpoints.
And it’s live, as one of the dapps built with
Layer Zero is called Stargate Finance. And diving into Stargate’s whitepaper,
we can get an idea of why Layer Zero is going to be soo good. On the first page
it says “we present the Delta (∆) algorithm, a novel re-source balancing algorithm which,
in conjunction with omnichain communication(Layer Zero), solves the bridging trilemma
by enabling unified liquidity without compromising in-stant guaranteed finality.
Bridges are the most susceptible attack vector of hackers. Over 1.5 billion
dollars has been hacked through bridges this year alone….shoot just last month,
Binance’s bridge was hacked for a cool 100 million dollars.
Solving the bridging problem is solving one of the biggest issues in crypto and Layer Zero
enables this! Rightfully so, Stargate the 1st dapp is already ranked #345
on Coingecko, and has an over 67 million dollar marketcap! And checking out stats,
Stargate is killing it in just a short 7 months since launch.
Checking out the project's dashboard, we can see over 467 million is locked up. Pretty damn
heavy for a 67 million dollar marketcap. Going to DeFi LLama’s section on Bridges and sorting
by 1 month volume, we can see Stargate is the third ranked bridge with over 543 million dollars
passing through it. But sorting by 24 hour transactions, Stargate is #1, over 18 thousand
which is nearly 2.5x the number of transactions than the extremely popular Arbitrum bridge.
Stargate is just one of the toppings of the Layer Zero Cake….and if the topping
is killing it like this, how do you think the entire cake is gonna taste??
What I’m getting at?….Layer Zero is gonna be BIG!!
So now…why airdrop?? Well going to Layer Zero’s gitbook, and jumping into the section
on their endpoints, we can see they have code examples. Clicking into the hyperlink
next to Interface we can see within this code they have a parameter, ZRO Payment Address,
with the explanation: the address of the ZRO token holder who would pay for the transaction.
Obviously they plan on launching a token….but it
gets even more obvious when you realize this. In march,
LayerZero raised $135 million in a funding round co-led by FTX Ventures, A16z and Sequoia Capital.
I wonder who just did an airdrop, who is also funded by FTX and Horowitz?? Aptos did….
And guess who is unlocking the Aptos blockchain, to the multichain world,
connecting to the likes of Ethereum and other EVM layers and chains? Layer Zero
is as they have the Aptos bridge already live…
But FTX and a16z aren’t the only big investors in Layer Zero…as we can see from a list of their
series A investors, we can see Paypal Ventures is one of the investors! And the co-founder
and CEO of Layer Zero, Bryan Pelligrino spoke on the significance of this. Let’s listen in…
(Link #6 Bryan Pellegrino Airdrop tweet) Then there is this….back in May of this year,
Bryan Pelligrino on twitter tweeted BIG Eyes with a picture of Airdrop conditions for the upcoming
reunit wallet, built with Layer Zero…obviosly, the CEO of Layer Zero is a fan of airdrops…
So I hope all that information helped get the point across that this airdrop has a high
potential of happening & it will be a BIG one!! So now it’s time to show you how to get in the
best position to receive the airdrop…and not just Layer Zero’s others including the ReUnit Wallet!!
Checking out the twitter of the founder and developer of reunit, we can see on November
second he tweeted “A pre-sale, a sale... then an airdrop for $stg / $vestg holders”
STG is stargate finance, so holding some of their tokens will guarantee you get the
reunit airdrop, but also will put yourself in a position to get the Layer Zero airdrop…
The best place to pick up Stargate? On Curves
Finance’s Quickswap as it has volume so little price slippage or impact,
and it’s decentralized so you don’t have to go through any centralized entity.
Once picking up some Stargate, in my opinion you should stake the STG and
vote on a proposal as Bryan the CEO of Layer Zero has retweeted
Stargate staking announcement, and using veSTG to vote on proposals.
To stake, you need to go to the Stargate dapp interface and click on Stake…your balance of
STG should show up…click on the balance and it will take you to the staking interface…enter
the amount you would like to stake and pick the duration…you can lock between 1 month to
3 years…I’m going to do 1 year, 12 months. Once your staking parameters and entered, go through
the steps to confirm the transactions and your STG is now staked giving you a veSTG balance…
Checking out STG’s voting interface from snapshot, there aren’t any voting proposals open, but once
they do have one open….VOTE as I think this may be one of the requirements to boost airdrop rewards…
Besides becoming a Stargate holder and voter…I would also use other dapps built with Layer Zero.
And there is a batch built besides Stargate. There is Mugen Finance, Angle Protocol,
Radiant Capital…but the dapp I want to cover and I’ll utilize myself is Rage Trade…
Rage Trade is building the most liquid, composable,
and only omnichain ETH perpetual. It is live on the Arbitrum mainnet
and powered by Layer Zero…and rage trade itself is tokenless as of now…
And rage trade is built and utilizes one of my favorite projects as of late…GMX
So….I would trade with rage if you can…do long and short trades. Use the slider to set your leverage,
25% means 1.25x leverage of your total account balance that you deposited and
95% means 4.76x. Try and sustainability create as much volume as possible.
Rage also has vaults you can deposit into…but checking out their only vault,
the deposit cap has already been reached…so I would monitor if it
re-opens or if any new vaults are created. And if that happens, deposit into the vault!
Now there are some other steps I would take to get in a solid position for the
potential drop…remember the Aptos bridge Layer Zero built that I showed earlier?
Use that…transfer tokens across the bridge…as Bryan the CEO tweeted to use it when it got
launched. Specifically he said “Go play around in Aptos if you are so inclined”
Well viewers…I don’t doubt another BIG airdrop is right around the corner from Layer Zero…but with
this video, you could set yourself up for other airdrops including from Re-Unit Wallet, Rage Trade
and shoot even Arbitrum….who does Airdrops better than Chico? Nobody…Cheers I’ll see you next time!!