If the Solana ecosystem is getting FOMO from Airdrop players, why don’t we ask the question: ‘There are opportunities everywhere but the level of competition is lower than Solana’, the answer is Sui Network. Sui Network is in the first steps of building its ecosystem with Native Protocols and it is also a land of opportunity for us.
Come join me in the world of water!
Airdrop Hunting Across Sui Network Ecosystem
Why choose Sui Network?
There are two main reasons for me to choose Sui Network to do retroactive, including some reasons below:
- Similar to Solana, Sui Network also successfully called for a huge amount of money up to more than $300M from many famous investment funds in the market.
- Similar to Solana, Sui Network is also a non-EVM Blockchain, so projects have to build new ones on Sui and from there we have many Native DApps instead of Multichain DApps.
- Similar to Solana, Sui Network during its development process was supported and advised a lot by Jump Crypto. Who knows, Jump will also advise on Airdrop for Sui and projects in the Sui Network ecosystem.
- Sui Network also started various programs such as Hackathon, Builder House, Incentives, Bullshark Quest to attract users and developers. The more users and developers there will be, the more diverse Native DApps will be on the Sui Network.
Determine goals and criteria
Before transferring money to the Sui Network ecosystem, there are a few things that players need to pay attention to. First, in the past Sui Network had a rather unique “airdrop” method through Public Sales and secondly, there has never been a project on Sui Network that had a huge airdrop to the community. Because of these two factors, we are not sure whether Airdrop will be a culture on Sui Network in the future or not, so there must be a clear and specific capital allocation plan.
After the money is transferred into Sui’s ecosystem, we need to make a list of criteria to select projects on Sui to deploy Airdrop including:
- Projects need to have products and users.
- Projects that received Grant, Incentive or won Sui Network’s Hackathon.
- Projects have successfully called for money from investment funds.
- Projects are at the TOP TVL of the entire Sui Network ecosystem and have the opportunity to lead that industry on Sui Ecosystem.
Make a list of projects that meet the criteria
Based on the above criteria, we will select a list of projects as follows:
|
Nr.Crt |
DEX |
Lending |
LSD |
Derivatives |
|---|---|---|---|---|
|
first |
Deepbook |
Scallop, Navi |
Volo |
Bluefin |
|
2 |
KriyaDEX |
Bucket |
Haedal Protocol |
– |
Identify action plans and risks
Now I will present my detailed strategy as follows:
- Step 1: Move the player’s assets which can be Stablecoin or SUI (best to use Stablecoin for better leverage).
- Step 2: Put your USDC as collateral on Scallop and borrow USDT.
- Step 3: Bring USDT to KriyaDEX to borrow up to USDC. Continue to use this USDC to bring in Scallop and borrow out USDT. Use leverage continuously to optimize Volume.
- Step 4: It is possible to directly carry an additional amount of USDC with the same strategy to do with Navi Protocol.
- Step 5: Users can borrow SUI on Scallop or Navi Protocol from Stablecoin collateral.
- Step 6: After having SUI, bring it to 2 LSD platforms such as Volo and Haedal Protocol with a ratio of 7 – 3. I prioritize Volo because this is an ANKR product and Haedal Protocol has unknown information.
- Step 7: Receive vSUI from Volo and haSUI from Haedal Protocol. Everyone needs vSUI and haSUI to bring into the Bucket protocol to mint Stablecoin BUCK.
- Step 8: In the Buck Protocol platform, people continue to deposit BUCK into the platform’s Vaults to earn more profits or provide liquidity on DEXs.
- Step 9: People can borrow Stablecoins from Scallop or Navi Protocol then take long – short BTC, ETH on the Bluefin platform.
Some risks that people need to pay attention to are that borrowing from volatile assets like SUI can easily encounter liquidation problems, so you must watch to understand the price at which your assets are susceptible to liquidation. Besides, there are many Stablecoins on Sui Network, so you must choose Stablecoins with abundant liquidity sources on large DEXs.
Identify a goal as a specific number
Besides determining actions, we also need to have a plan with numbers such as:
- KriyaDEX: Do with a minimum Volume of $1,000 and provide liquidity of about $200.
- Scallop: Total volume including borrowing and lending is about $3,000.
- Navi Protocol: Total volume including borrowing and lending is about $3,000.
- Buket Protocol: Mortgage about $1,000 then borrow about $500 then put all BUCK straight into the project’s Vault.
- Volo: Depost about $500 SUI and then put vSUI directly into the Buket Protocol platform.
- Headal Protocol: Depost about $200 SUI and then put haeSUI directly into the Buket Protocol platform.
- Bluefin: Total trading volume is about $5,000.
Continue to be creative in your own way
I believe that my strategy can still continue to be optimized and developed further, so I hope everyone can rely on this basic strategy.
To be able to develop from a plan like this, people can learn more projects and learn about how they work and then put projects together. How to use leverage to the maximum but also in the safest way.
Summary
And above is my Airdrop strategy on the Sui Network ecosystem. Hopefully through this article, everyone can understand more about the topic of airdrop hunting throughout the Sui Network ecosystem.
