Recently, many people won the $w token airdrop bet, including me. The current price of wormhole tokens is very low, so I accidentally made us special holders with a few brothers who bought at the price of 1.3$ - 1.5$.
According to the wormhole roadmap, they will go to the staking page to stake $w, of course there is no interest, guys, staking is only to delegate, meaning to vote.
The use case of $w seems to be exactly the same as $pyth, even the airdrop claim page is from $pyth's side.
$pyth once collapsed to $0.25, then pyth went to the staking page and the price gradually pushed up because most of the users staked, but users staked because they heard the news would be airdropped.
However, before the $w batch was released on the staking site, you were still holding tokens without being able to do anything. Below is the method I applied to $pyth 4 months ago.
1.Lending $w to marginfi, kamino to farm airdrop
Instead of leaving the $w token in your wallet, you can use it to lend to any lending platform that supports the $w token, and there are two leading TVL guys in this area: marginfi and kamino.
The purpose of lending here is not to earn interest but to farm airdrops. Because tokens like $w, $pyth do not have much need to borrow, these tokens usually do not have interest rates.
Currently, I advise you to lend on marginfi because Kamino is about to airdrop, it is about to end season 2 so doing it now is too late. For marginfi, the lending campaign has already started in August 2023, however There is currently no information about the airdrop so the opportunity is still there. Marginfi currently has a point system for users to use, this is the potential for airdrops in the future.
When I received the $pyth token airdrop, I lent all 6,500 tokens divided into 2 marginfi farm point accounts and are still farming until now. Because of that, I did not sell early and held pyth from the current price of 0.3 to nearly $1. My current marginfi score is over 400k points and is ranked 22k/2nick.
Since $pyth opened on the staking site, I have withdrawn more than 1/2 for staking and kept a little in marginfi.
2.How to farm points to hunt airdrop marginfi
a. project introduction
All the projects that survived the FTX collapse are worth farming for airdrops, including marginfi. Marginfi has not confirmed any airdrops or tokens at all, guys. The only thing margin announced will be recorded. User contributions in points through lending and borrowing.
Marginfi raised 3M from leading Backers such as: Pantera Capital, Multicoin Capital, Solana Ventures.
b. How to calculate points on marginfi
For every $1 loan we will earn 1 point/day and for every $1 loan we will earn 4 points/day. However, you can use the Backpack Wallet to get an additional 5% of points and Ready to farm airdrops on backpacks, I already mentioned this in the airdrop zeta markets.
For example, if you put $1000 $w in and then borrow $400 again, every day you will get 2600 points and 5% of 2600 points if you use a backpack wallet.
c. Instructions for farming points on marginfi.
Step 1: Access the marginfi link: https://app.marginfi.com/
Step 2: Lending
Select the Lend section, then select $w token and lend it and you're done. After lending the token, you can withdraw it at any time and it will not be locked.
P/S: When we choose a lending system, we seem to put all our trust in it, so there is still a risk that the dApp will be hacked, affecting our assets.
Wishing you success!
