Scott & Seinfeld’s Sol-ful Airdrop Omnibus Extravaganza - MVHQ

Scott & Seinfeld’s Sol-ful Airdrop Omnibus Extravaganza

Scottco
Feb 2, 2024
General Strategy
Platform
Scott & Seinfeld’s Sol-ful Airdrop Omnibus Extravaganza

Now that we’ve seen PYTH & JITO airdrop 5-6 figures to users & with Solana having its Defi summer moment, we put together a list of upcoming protocols to farm for anyone curious about diving into Sol’s ecosystem.

 

We also included options on how to loop them, so you can maximize your capital across multiple dexes & lending platforms to hopefully qualify for more airdrops without the need for a big bankroll.

 

In the case of Jito, 3 sol (about $150 at the time) staked for one month on Jito.Network was enough to earn you the base tier of 5,000 Jito, with a current value of $18,000.

 

Many of us were able to hit on the Jito airdrop thanks to Poppa’s legendary Solana field report, and one takeaway from that was a little bit of effort can go a long way.

 

Using Jito as an example again, once you bridged your funds over or transferred sol from a CEX, the staking process on Jito was under 30 seconds. For a one time farming process that you never had to touch again until the airdrop claim.

 

Disclaimer:

Some of these protocols can’t be used in the US.

 

Additionally, the safest route you can take to ensure you don’t get sybilled (if you plan to farm on multiple wallets) is to set up each wallet on a separate chrome profile, fund each wallet from a CEX, and use VPNs and/or proxies for each profile. We’ve also included our ref. links, if you find the FR valuable thanks for supporting by using them.

 

If you’re starting with ETH, you’ll need to first set up a SOL wallet then bridge ETH over to SOL.

 

Wallets

The two main wallets on Sol that have rumored upcoming airdrops are Phantom Wallet (https://phantom.app/) and BackPack Wallet (https://backpack.app/downloads). Backpack is from the same team as MadLads, they recently released their Backpack crypto exchange and the rumored airdrop, while still shrouded in mystery, seems to interconnect the three parts of the ecosystem.

 

 

Make sure to do some swaps from within whichever wallet you choose. If you’re setting up Phantom, make sure to click on the world icon (bottom right of your phantom wallet) to subscribe to Drip Haus - this is another potential airdrop to farm - then claim your Solana Phantom collectible, as of Dec. 9th there are 15 days left to claim.

 

Bridging

Mayan Swap: https://swap.mayan.finance/

 

Mayan Swap is a bridge that is powered by Wormhole. Both are rumored to have an airdrop coming so you’ll be able to farm 2 for 1.

 

  • Connect your Eth wallet then click select destination wallet and connect your Sol wallet
  • In the top field choose Ethereum for network and asset
  • Type in desired amount
  • In the bottom field choose Sol (or whatever token you’d like to receive on Solana) then bridge it over

 

If you want to go direct to Wormhole’s product you can use https://portalbridge.com/, the process to bridging is very similar to that of Mayan. You can also go to Jupiter (https://jup.ag/bridge/wormhole) and bridge there as well. Jupiter’s bridge is powered by Wormhole as well so you’ll presumably be farming both Wormhole’s 1st drop and Jupiter’s 2nd.

 

You can also bridge on MarginFi (see link below). Their bridge is powered by Mayan, which is powered by Wormhole (lmao), so there’s a chance you could be farming 3 airdrops in 1 here.

 

Liquid Staking your Sol:

 

You can stake your Sol for jSol, bSol, and mSol. Blazer periodically airdrops you their token for utilizing bSol, jito just did their airdrop, and marinade already has a token. You can take this liquid sol and go on to use it for lending, borrowing, swaps, and perps on other platforms.

 

Lending/Borrowing Platforms

MarginFi: https://www.mfi.gg/refer/28e6d99d-6c17-415a-addb-0a0dcc43f5e0

 

MarginFi is a borrowing and lending platform that is currently running a points campaign for an upcoming airdrop. You can earn points for both lending and borrowing, lending accrue about 1 point per dollar and borrowing accrues 4 points per dollar. They have seen some of the biggest growth on sol as their TVL jumped to $250 million in the days after the Jito airdrop. Following Jito and Jupiter, this is the number one farm and airdrop that people are most tuned into.

 

Lend Sol

  • Borrow a stable coin (USDC, USDT) or liquid staked Sol (bSol, jSol, or mSol)
  • Make sure to maintain a health level commensurate with your risk tolerance

 

You can then take that sol to some of the platforms listed below and do some perps if you’re feeling extra degen.

 

Kamino: https://app.kamino.finance/ 

 

Kamino is a lending, liquidity & leverage protocol on Solana with a TVL of $105 million.

 

Team has not yet launched their points program, but will soon be live similar to Jito & Marginfi. Expect another big increase in TVL & depositors when this happens.

 

Main ways to farm points on Kamino:

Borrow & Lend your sol, jitosol, bSol etc. Provide liquidity on pairs while earning fees (Jitosol-sol for ex.) Multiply - boosted yield via automated flash loans Long & short Sol with leverage

 

With Kamino, similar to Jito, volume deposited / provided as liquidity / loaned will likely be the biggest factor contributing to size of airdrop.

 

Two strategies here would be

1) hit each category of product in case there’s a multiplier for each trading tool they offer,

2) create a few wallets & divide up your sol to multi wallet farm Kamino, trying to hit the minimum threshold for the future airdrop.

 

So if you’re not planning to allocate a giant bankroll to solana airdrop farming, multi walleting could be the way to go to increase your potential airdrop.

 

 

Be on the lookout for part 2 where we tackle DEXes, Liquid Staking Derivatives, and Degen Loops to really hit every corner of the SOL airdrop scene.