Base Surges In Popularity But Red Flags Still Present — Insider Roundup #22
A $6 million rug pull highlights the need to be cautious
Hey guys,
There’s not much major news this week, except for the Base network gaining huge momentum in the L2 competition.
While there are tons of opportunities available, I would recommend you to be cautious when interacting with any decentralized applications, as there’s always the possibility of a rug pull like what Magnate Finance did.
This has made me quite wary of the liquidity that I’ve added to Maverick Protocol, and I’ll be looking to withdraw the majority of it after the 20-day lock-in period has ended (more info below).
I’d urge you to be careful when locking up funds in any application, as there’s always the risk of them getting hacked, so don’t put in funds that you’re not willing to risk losing.
What I did this week
Here are the main activities that I did to potentially qualify for these airdrops:
📝 Waitlist Opportunities
This platform is trying to make blockchain explorers more readable.
Vold AI is a powerful application that enables Verified Users to get rewarded for their time, effort, energy and contributions.
🟢 ZetaChain
Migration to Athens 3 testnet
ZetaChain has migrated to a new testnet, so all ZETA balances have been reset.
You can go to ZetaChain’s Discord and access the faucet channel here.
This will allow you to get ZETA tokens on Goerli, BSC testnet, or the ZetaChain testnet.
After that, you can add the ZetaChain testnet via this link.
After playing one round of this game, you can mint an NFT on the Athens-3 testnet, which could be your first transaction on the network.
For more info, check out my guide on the ZetaChain airdrop here.
🧭 Tabi
The Mermaid OAT is back, which you can claim by just completing social tasks.
For more info, check out my Mirror and video guide.
⚫ LayerZero
If you’ve staked some STG, you can vote on these proposals (completely free, no gas required).
Another free NFT mint on Holograph, I’ll recommend minting on Polygon then bridging it to Optimism / Avalanche.
Stargate’s expansion to Linea
Stargate now supports the Linea network, it’ll be good to perform a bridging transaction via this platform to this network (only for ETH or STG).
For more info, check out my guide on the LayerZero airdrop here.
📺 Ad
Did you know your airdrop wallet should be kept separate from your normal wallet?
Having your funds in the same wallet could expose it to smart contract risks, or even worse when you lose your seed phrase.
Here’s the combination that I’m using for my funds (referral links included):
Airdrop wallet: Ledger Nano X connected to Metamask
Cold storage wallet for buying and holding funds: Tangem (Get 10% off when you use my link)
I store minimal funds in a hot wallet, as those are the most risky. This hack that cost a prominent Twitter influencer resulted in life-changing losses, and you can find my analysis here.
⚫ Linea
This DEX has now expanded to Linea, and you can perform a swap to get this OAT.
It’ll be good to complete the other PancakeSwap campaigns too.
📜 Scroll
This mint may have expired, and if you’d like to receive the latest updates for these time-sensitive events, join my Telegram channel here.
For more info, check out my guide on the Scroll airdrop here.
⚫ Mantle
If you have the funds, you can lend 100 USDT into the USDT/WETH pool on TimeSwap (locked until 31st Aug) and complete this quest on Phi.
TimeSwap may do an airdrop in the future, so it’ll be good to interact with the platform too.
🔵 Base
Rabbithole Quests
You can get some NFTs which could be a criteria for the Rabbithole airdrop in the future, and get some transactions on Base at the same time.
Bridging ETH from Optimism to Base via Stargate (cost ~ $0.20)
Creating a token on Tokepad (cost ~ $0.25)
Minting an Open Edition NFT (cost ~ $5)
Swap on BaseSwap (cost ~ $0.30)
This costs around $1 in ETH to mint.
If you’ve completed any of these tasks before,
you would be eligible to mint this NFT without needing to use the Owlto Bridge.
You can check via the link above to see how much $ORICH tokens you’ll receive, which you can then sell off here to ETH.
After that, you can claim some NFTs in quests that are eerily similar to Tabi.
This task could help you get a future airdrop, but you’ll need to deposit at least $1,000 for 20 days to complete this campaign.
For more info, check out my YouTube guide here.
If you’ve staked some MAV tokens, you can vote on the latest proposal too.
⚪ Zora
There are quite a few free mints on mint.fun which you can take advantage of to increase your transaction count.
What’s more, if you’ve minted your fundrop pass, you can maintain your minting streak and increase your points too.
Find out more about mint.fun and Zora my Mirror guides.
There are no fees to mint and bridge NFTs from Zora until the 28th of August, so you can consider using this bridge to get a LayerZero transaction too.
🌉 Bridges
The next quest is to bridge funds over to zkSync.
If you have the funds to spare, it’ll be good to complete this quest (requires $25), where you’ll need to:
Bridge 25 DAI (Optimism to Arbitrum)
Swap 25 DAI to GNS on Arbitrum via Jumper
Stake $25 worth of GNS for at least 48 hours
💡 Others
After completing the campaign, you can submit your answers to the quiz on Web3Go.
Answers: A, B, B, A, A
There’s another quest to complete too,
and the answers can be found on my Telegram channel.
Find out more about this project that’s backed by Binance Labs my Mirror guide here.
Cast your vote if you have some ID tokens from the previous airdrops.
XION Cap
Sign up for an account with my referral link, and then complete social tasks for this TaskON CAP.
Clipper QuestN Campaigns
There are 2 campaigns to complete:
Tokenomics Quiz Answers: C, A, B
DRP Quiz Answers: A, B, C, A
🖼️ NFT Mints
This will cost 0.81 MATIC to mint, and you can complete the Layer3 quest as well.
This costs 2 MATIC, and could be useful if Phi does an airdrop in the future.
Find out more about Phi in my guide here
If you completed any of Space ID's Sei Galxe campaigns, you can now claim a max of 5 domains (depending on how many quests you've completed).
EigenWorlds mint (gas fee ~ $3)
While it was virtually impossible to restake ETH due to the high gas fees, you could still take part in the airdrop by minting this NFT.
I’d suggest that you mint the NFT on mint.fun instead of the official site so that you’ll get some XP and maintain your minting streak.
Find out more about mint.fun in my Mirror guide here.
🚀 Galxe OATs
This requires you to perform a swap on the Goerli testnet.
If you own a .bnb domain, you can participate in this raffle.
Similar to the Sei domain, you may want to get these OATs so that you’ll be whitelisted to mint your .inj domain early.
Quiz answers: 1: mode, 2: DESIGNED FOR GROWTH, 3: 10
Answers:
1.To empower the next generation
2. Zero Knowledge proof
3. Providing a tailored
4. By using Zkrollup technology
5. By enabling tokenized RWAs to be traded
6. Centralised control over user assets
7. By batching hundreds into a single zk-proof
8. By bridging native NFTs into zkLink
Quiz answer: B, D, B
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Get a FREE airdrop tracker
I’ve created a Notion site to keep track of all the airdrops that I’m looking to earn from, including both project and network tokens.
If you’d like to access it, you can subscribe to my Substack below,
and you’ll receive the link in your welcome email!
Let connect
I'm @defi_octopus on twitter