Airdrop Hunting for the Whole Solana Ecosystem

After Pyth Network and Jito Labs, all users are flocking to the Solana ecosystem to look for the next Airdrop opportunities with a series of names such as Marginfi, Drift Protocol, Zeta Markets, Francium,… However, I see that some users’ way of playing Airdrop is still not really optimal and in this article I will guide everyone on the most optimal way to play.

Maybe my way is still not the most optimal, but some of you have more optimal ways, so everyone can contribute so we can build a perfect strategy.

Airdrop Hunting for the Whole Solana Ecosystem

Determine goals and criteria

Before bringing money to the Solana ecosystem to earn Airdrop/Retroactive, we need to determine in advance a mentality that is to wait long term, for example, Jito Labs or Pyth Network also Airdrop after more than 1 year of operation and development. Next, on the Solana ecosystem there are many projects that have not yet issued Tokens, so there must be a list of criteria to select projects.

After selecting the project, we need to classify the projects and have specific goals for each project such as Volume, Transaction, Point, Rank,…

For me, to choose projects to do Airdrop on Solana, there will be some clear conditions as follows:

• The project already has a product and users.
• The project has successfully called for capital in the past.
• The project has received awards in Solana’s Global Hackathons.
• The project is one of the Real Builders in the Solana ecosystem in recent times.

Of course, I do not look for projects that have all of the above elements, but if they only have one of the above elements, I will include them in the book. This list will continue to be divided into industries and tiers. Based on the Tiers we allocate assets accordingly.

Make a list of projects

Based on the above criteria, we will select a list of projects as follows:

Identify action plans and risks

Now I will present my detailed strategy as follows:

• Step 1: Deposit Stablecoin only 1 type (temporarily choose USDC) into Marginfi then borrow up to USDT or UXD.
• Step 2: Go to Jupiter Exchange and convert USDT to USDC, continue to hold USDC to deposit into Marginfi and do many rounds to increase the level of both borrowing and lending on Marginfi. With this solution we will have the optimal number of Points on Marginfi and Volume on Jupiter.
• Step 3: Borrow SOL on Marginfi, deposit into JPool and Socean then receive LST Token. These LST Tokens can be combined with the above SOL amount to provide liquidity to earn additional profits.
• Step 4: Continue to borrow Stablecoins on Marginfi to bring into Kamino Finance with the same strategy as above combined with Jupiter Exchange.
• Step 5: Continue to borrow Stablecoins to bring into Perp DEX platforms to play Long – Short on Zeta Markets and Drift Protocol.
• Step 6: Continue to borrow Stablecoins to bring in for 30 days on Parl – Real World Assets platform to earn more profits.
• Step 7: Continue to borrow Stablecoin or Solana to deposit into Yield Aggregator protocol like Francium or Meteora.
• Step 8: People can borrow SOL from Marginfi then lend it on Kamino Finance to borrow mSOL. Then continue to hold mSOL to deposit into Marginfi to borrow out SOL. Continue with the leverage strategy.

Some things to note are that to implement this strategy, you need to clearly understand the risks you may encounter. For example, when borrowing SOL, keep an eye on the liquidation price and if using SOL to borrow LSTs, Keep an eye on the peg of LSTs to avoid unreasonable liquidation.

With this strategy from $1,000 you can usually leverage it to have the power of $10,000 and still be relatively safe because most of the risks do not lie in many different places. The biggest risk lies only in whether USDT or USDC depeg.

Another important thing is that to manage assets on the Solana ecosystem, people can use Step Finance.

Identify a goal as a specific number

Besides determining actions, we also need to have a plan with numbers such as:

• Jupiter Exchange: Minimum 100K Volume.
• Marginfi: Based on the Point model, about 10K points per day and lots in TOP 5,000.
• Zeta Markets: Enter the TOP 5,000 with a minimum total volume of about $5,000.
• Drift Protocol: Minimum volume is about $10,000.
• Kamino Finance: Use leverage to deposit about $2,000 and borrow about $1,500.
• Parcl: Deposit a minimum of $1,000 and lock within 30 days.
• Meteora and Francium: Deposit a minimum of $500 and leave it in long-term protocol.

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

Hopefully through this article, everyone will have another choice on how to play Airdrop most effectively. We hope everyone will contribute to the article on Airdrop hunting for the entire Solana ecosystem so that it becomes more and more complete and comprehensive.