Preface:
Recently, many airdrop projects have gradually reaped rewards, some like StakeStone which caused widespread grief, and some like AlwayFinder which made everyone happy, bringing a lot of popularity to the airdrop circle. During my research, I found a super early Dex project, StandX, which was co-founded by former Binance core members and Goldman Sachs Securities. This article will introduce readers to the background of the StandX project and its stablecoin product $DUSD, and explain how to ambush and interact with it in the early stages!
What is StandX?
StandX is a Defi project running on Solana. It was founded by former core members of Binance Contract Development and professionals from Goldman Sachs Group and focuses on the development of perpetual contract exchanges and stablecoins $DUSD.
The development of StandX was inspired by Ethena's synthetic stablecoin model and combined with HyperliquidX's decentralized perpetual contract trading platform to create a multifunctional Defi that is secure, efficient, transparent, and takes into account models such as liquidity returns.
StandX just launched its stablecoin product $DUSD this week, and is expected to officially launch their perpetual contract exchange in July this year. It is now a super early stage project with extremely high ambush potential!
StandX Funding & Team Background
StandX CEO AG is the head of Binance Futures, and Justin is the former director of Binance Futures. They led Binance Futures from its inception to become the world's largest derivatives trading platform. After leaving Binance in 2024, he decided to devote himself to the development of Dex, which focuses on stablecoins and decentralized perpetual contracts, and cooperated with Goldman Sachs to self-operate and develop StandX.
Although StandX has not yet announced any financing, it announced this month that it had received funding from the Solana Foundation, further demonstrating strong support and ranking first on the daily trend of the RootData information platform.
What is $DUSD?
$DUSD is an automatic yield stablecoin launched by StandX and the first product launched by StandX this month. $DUSD runs on the Solana blockchain and can be minted through $USDT and $USDC.
The automatic income of $DUSD comes from StandX's pledged assets and the funding rate of the derivatives market. Currently, it can obtain an annualized return of about 12% without staking. In the future, $DUSD can also be used as margin on StandX's perpetual contract trading platform, and traders can enjoy annualized returns at the same time. This income is settled once a week. For more information about $DUSD, please refer to the official documentation.
StandX Interaction Process
1. Connect your wallet & make a deposit:
Link the Solana or BSC chain wallet on the StandX homepage and deposit $USDC or $USDT as shown below.
2. Mint $DUSD: https://standx.com/dusd?action=mint
Link your wallet on the $DUSD minting page, and use the pre-deposited stablecoins to mint $DUSD at a 1:1 ratio. You can accumulate points by holding $DUSD. You can get 1 point for every 1 $DUSD you hold every day. The points will be used as the basis for future StandX airdrops.
3. Establish LP
By setting up a USDT/DUSD LP on PancakeSwap, you can get a points multiplier of 2.2x, but you need to provide an equal amount of DUSD in USDT, which is equivalent to a multiplier of 1.1x more than holding DUSD.
As shown in the figure below, select the price range and quantity in PancakeSwap to create LP. Since it is a stablecoin range, you can set it within 10%. After creation, you will receive the NFT of the liquidity certificate. The wallet holding the NFT is required to release the LP liquidity.
Conclusion
StandX is backed by Binance and Goldman Sachs Group, and has also received strong support from the Solana Foundation. It focuses on stablecoins and decentralized perpetual contract trading. As Dex develops rapidly, StandX's architectural model is likely to become a trend in the future.
Currently, you can interact with StandX by pre-depositing and minting $DUSD, and you can use LP to further increase your income. $DUSD can be redeemed for stablecoins such as $USDT at any time, which has a certain degree of security. The author will continue to update the teaching of StandX in the future, and recommends that everyone can ambush early.
A must-do for big-name projects: Abstract Contributor Program
Abstract is a consumer-focused L2 blockchain based on the PudgyPenguins NFT project. It focuses on providing native account chain abstraction capabilities, aiming to allow users to manage and use crypto assets in a simpler and more flexible way.
Abstract was launched on the mainnet in February, and users are allowed to participate in interactions to earn XP points and obtain badges. Since its launch, it has launched several Abstract ecosystem Dapps tasks. Although there is no mention of airdrop opportunities for the time being, the launch of points and badges is regarded by users as an anticipation of airdrops, and it is recommended to join the ambush early.
Abstract received $11 million in investment led by Founders Fund and Fenbushi in July last year. This money will support Abstract's development in the ecosystem. In addition to financing, it is also backed by Penguin's Igloo. Igloo's achievements in creating PudgyPenguins make Abstract's future development promising.
Abstract hide creator badge
According to a tweet from Abstract official @logannross, Abstract is launching a hidden badge that needs to be obtained through manual review and application. The prerequisite is that you have posted a tweet about Abstract on X, whether it is an introduction to Abstract or its ecological applications. The following describes the badge acquisition process.
Creator badge application process
1. Find your tweet with the best traffic and highest engagement rate on X.
2. Copy your own Abstract account address.
3. Leave a message below Logan’s tweet, paste the address and your creative tweet, wait for Abstract official manual review, and you will get the Abstract creator badge soon.
Featured Project Interaction: Lighter
Lighter is a decentralized order book trading platform that focuses on perpetual contracts and spot trading. Lighter runs on Arbitrum L2 and uses its advantages of low fees and high throughput to solve the problem of high fees in traditional Ethereum.
Lighter adopts the AMM fully automatic market maker model and the order book model commonly seen in centralized exchanges, which has higher price transparency and transaction stability. In addition to a stable trading model, it also provides a simple interface design and is user-friendly, attracting many novice and professional traders to join.
Lighter is currently in its early stages, with the beta version of the mainnet just launched recently. An invitation code is required to join. The author believes that this type of airdrop for volume-boosting transactions is suitable for mutual hedging. For example, by opening both long and short positions on the Lighter and Backpack exchanges, you can offset trading losses and benefit from the airdrop expectations on both sides!
For Backpack Season 1 points, please refer to last week’s weekly report: (Backpack Season 1 Trading Points Tips! And this week’s airdrop and financing summary)
Lighter was founded in the United States in 2022 by Vladimir Novakovski, who was previously an entrepreneur working on an AI-driven platform. Lighter received its first round of financing of US$4 million in 2022, led by a16z and LightSpeed Ventures. This round of financing made the market recognize its strength in trading perpetual contracts, and many people even believe that it has the opportunity to become the next Hyperliquid!
Lighter interaction process
1. Register for Lighter: https://app.lighter.xyz/trade/ETH
Use your EVM wallet to connect to Lighter, then click Request Access as shown below to get started.
Because Lighter is currently still a private beta, you need an invitation code to join. The invitation code can be obtained in the Lighter Discord. It requires other users to trade at least 500,000 to generate an invitation code. It is very rare!
Lighter Discord：
2. Create an account & top up assets
After entering the invitation code and social account information, click Create Account to recharge assets. You can recharge assets to Lighter in various ways from the linked on-chain wallet or exchange. Just select the chain and the amount to be recharged and deposit.
3. Verify your account
After the recharge is completed, click Verify Account to confirm that the recharged assets have arrived. After the wallet is signed, you can start trading.
4. Trading contracts and spot
After the recharge is completed, you can conduct contract and spot trading interactions on Lighter. Although there is no points system at present, early interactions can seize the initiative and perhaps even get OG bonuses. The author recommends hedging transactions with Backpack to kill two birds with one stone, or using it more often in daily secondary transactions, so that you can ambush airdrops in addition to trading!
Emerging Project Ambush: Sophon
Sophon is an L2 blockchain built on zkSync, focusing on the fields of entertainment, games and life. It integrates consumption and blockchain technology to create a simple and seamless on-chain ecosystem, making Sophon a consumer-grade L2.
Sophon not only inherits the high performance of zkSync, but its zkPorter also delegates data processing to off-chain processing, greatly reducing computing costs. Sophon has currently launched its mainnet and has put many games and social applications online for experience, attracting users through real product consumption. The author believes that Sophon is different from other L2 projects that "collapse as soon as the token is issued". Sophon aims to create a blockchain that provides the highest experience at the lowest cost, and combines it with the current popular AI, social and gaming tracks to become an emerging dark horse in the track.
Sophon has currently accumulated a high amount of fundraising of US$73.26 million, including US$10 million led by YZi Labs, HTX Ventures, OKX Ventures and The Spartan Group in the March 2024 fundraising round, and 63.26 million $ETH raised in the node sales round. Sophon’s current valuation has exceeded 1 billion US dollars, and the market has a very high recognition of its blockchain entertainment!
The total number of Sophon transactions has exceeded 58 million, with more than 115,000 addresses using it on the chain, and the pledged TVL reaching $125M.
Sophon’s current interaction mode mainly involves experiencing the Sophon ecosystem through cross-chain assets on the platform, as well as staking $ETH, $BEAM, and $USDC assets. These staking can accumulate SP points in real time, and the points will be redeemed for Sophon airdrops. The following author will explain the Sophon interaction process.
Sophon Interaction Flow
1. Register Sophon: https://farm.sophon.xyz/farm
Link your EVM wallet to register Sophon.
2. Pledged assets
On the Farm page, you can see that various assets can be pledged, and each asset corresponds to a different points multiplier. However, in the current market, which is relatively unstable, the author recommends depositing in the USDC/USDT pool, which is more stable and also has a 3x points bonus.
3. Farmer and community contributions
On the Farmer page, you can design your own Sophon avatar. Once the design is completed, you can export it as an image and set it as PFP. Sophon, like other projects, will give airdrop rewards to community contributors, so use your Sophon PFT to contribute to the promotion!
4. Node operation
Sophon raised $63 million in last year’s node sales program. Guardian NFTs that run nodes can obtain 20% of Sophon’s token allocation. For information on node operation, please refer to Sophon’s official documentation.
Project with funding potential: Somnia Network
Founded in 2024, Somnia Network is a high-performance L1 blockchain that focuses on the development of the metaverse and Dapps. It is suitable for any application scenario that requires high throughput and low latency. Somnia is based on the PoS mechanism and uses a custom database to speed up reading and writing. It claims to be able to reach up to 400,000 TPS and is currently one of the fastest EVM-compatible blockchains.
Somnia Network conducted a strategic round of financing in early 2025, raising a huge amount of US$270 million from first-tier venture capital institutions such as a16z, SoftBank and SIG. This joint funding will help the development of the Somnia project and the construction of the ecosystem.
After Somnia officially announced its financing in February, it launched the Shannon testnet and also introduced a points task for users to participate in, earning points in exchange for Somnia airdrops. Somnia is expected to launch the mainnet in Q2 2025, which means the airdrop is coming soon.
Although Somnia has not yet made clear the airdrop rules, it has launched a number of activities with clear rewards. The YapStorm that will be introduced in this article is a reward activity jointly launched with Kaito Yapper. It can be said to be the best channel for interacting with Somnia in the early stage when it is combined with the newly launched test network.
Somnia test network interaction process
1. Register for Somnia Testnet: https://testnet.somnia.network
Connect your EVM wallet and register to Somnia Testnet.
2. Testnet Interaction
On the Testnet page, first apply for $STT test tokens, and then perform various interactions such as Swap and Send.
3.Quest interaction: https://quest.somnia.network
There is a Quest Platform below the Testnet page, where you can experience various Somnia Testnet Dapps and complete various tasks to get a lot of testnet points.
4.YapStorm：https://quest.somnia.network/campaigns/12
The YapStorm mission co-organized by Somnia and Kaito Yapper is also one of the activities. Currently, there are only 68 Yappers participating, which is very early! By linking Kaito Yapper's X account, completing designated social tasks, and promoting Somnia on the X platform, you can share 5,000 $USDC and 100,000 points every week!
Airdrop blessing query
1.$JUP
https://jupuary.jup.ag/good-cats
Jupiter is the largest Defi aggregator and trading platform in the Solana ecosystem, allowing users to trade Solana ecosystem tokens and obtain the best transaction prices and low slippage. Jupiter's TVL exceeds US$2 billion, making it the second-ranked project in the Solana ecosystem. Similar competitors include Raydium and Serum.
Jupiter has conducted airdrops to stakers and voting participants many times. In January, Jupiter announced a contributor program that will provide airdrop rewards to developers or developers who have made content contributions and community influence in the Jupiter community. The calculation period is from November 2023 to November 2024. This reward was opened for inquiry last week, and each contributor can get a reward of 500~5000 $JUP.
2.$HUNDRED
https://airdrop.stakestone.io/unified
StakeStone is a full-chain liquidity facility, led by YZi Labs and OKX Ventures with a $22 million investment. It brings L2 staking income and provides liquidity in a decentralized manner, and openly airdrops 6.5% of tokens to staking participants.
Since its listing, StakeStone has cooperated with multiple staking projects and public chains, including B², Berachain and Plume. Finally, after more than a year, the $STO airdrop query was opened in early April, and Binance Wallet TGE was launched. However, after the listing, due to the airdrop backlash, the coin price performed poorly and fell all the way to $0.05.
3.$PROMPT
https://app.wayfinder.ai/wallet
AlwayFinder is an AI interaction protocol created by the Parallel team and introduced in last month's weekly report. It focuses on introducing AI Agent into Web3 and simplifying complex blockchain interaction processes through AI. Although AlwayFinder has no direct financing, its team Parallel was founded by Sequoia Capital and CoinBase, and has accumulated $85 million in financing, led by Paradigm and Focus, with a valuation of over $500 million.
AlwayFinder will use $PROMPT tokens as airdrop rewards in the future. The total token supply is 1 billion, of which 42.25% will be used for airdrop activities. Includes Kaito Yapper 0.25%, AlwayFinder early users 2%, and $PRIME token stakers 40%. This week, AlwayFinder has completed the deposit interaction task. If you have done it, you can now bind your wallet and wait for the reward. You can also get a 5% airdrop bonus by using OKX Wallet!
This report is for information sharing purposes only and its content does not constitute any form of investment advice or decision-making basis. The data, analysis and opinions cited in this article are based on the author’s research and public sources and may be uncertain or change at any time. Readers should make prudent investment decisions based on their own circumstances and risk tolerance. If further guidance is required, it is recommended to seek professional advice.
