Research Summary
The report discusses the potential profitability of farming Solana airdrops, focusing on five different Solana airdrop opportunities: Parcl, Kamino Finance, Beoble, Drift Protocol, Tensor, and MarginFi. It provides an in-depth analysis of each project, including their total value locked (TVL), funding, and strategies to earn points for potential airdrops.
Key Takeaways
Parcl’s Potential
- High Valuation Expected: Parcl, a real estate trading project on Solana, has raised $11.6M from venture capitalists, the second-largest amount for a tokenless DeFi project on Solana. This suggests a high valuation at launch and a significant future airdrop for early adopters.
- Two Ways to Farm: Users can earn points for the Parcl airdrop by trading on the platform or providing USDC to the Parcl liquidity pool.
Kamino Finance’s Dynamic Points Program
- High TVL: Kamino Finance, a liquidity, leverage, and lending hub, has a TVL of $395M, making it the fourth largest dApp by TVL on Solana.
- Dynamic Points Program: Kamino’s points program is fully dynamic, allowing users to earn significant points boosts by performing certain actions or depositing certain tokens.
Beoble’s SocialFi Approach
- Web3 Chat Solution: Beoble aims to be the WhatsApp of Web3, offering features like group chats, real-time transaction updates, and dedicated chatrooms for hot crypto topics.
- Airdrop for Early Adopters: Beoble has confirmed an airdrop for early adopters, with users earning points by chatting, completing daily tasks, and engaging with the app.
Drift Protocol’s Short-Term Points Program
- High Funding: Drift Protocol, the most popular perpetual DEX on Solana, has raised $23.5M in funding.
- Short-Term Points Program: Drift’s points program will only run for a maximum of three months, suggesting a token launch in the near future.
MarginFi’s High TVL
- Leading Money Market: MarginFi is the largest money market on Solana with a TVL of $480M.
- High Number of Participants: Over 100k wallet addresses have already farmed points on MarginFi, indicating a potentially diluted airdrop.
Actionable Insights
- Consider Diversifying Airdrop Farming: Given the different potential returns and requirements of each airdrop, users may want to consider diversifying their airdrop farming across multiple projects.
- Assess Personal Risk Tolerance: Each airdrop farming opportunity comes with its own set of risks and rewards. Users should assess their personal risk tolerance and investment goals before participating.
- Stay Updated on Project Developments: As the points programs and potential airdrops of these projects can change, users should stay updated on project developments to maximize their potential returns.
