Written by: Deep Tide TechFlow
Recently, everyone’s mentality has been messed up again by airdrops, such as pizza, ionet, zksync, and so on. The airdrops of various projects have been coming one after another.
Although the witch hunt actions of many projects have led to a situation where airdrops are like exam results, some are happy and some are sad, the wealth effect may not be as exaggerated as the previous round of airdrops, but the stories of getting rich through airdrops still intrigue people.
If you’re not sure which project to get involved with, why not take a look at the leader in parallel EVM narratives, Monad. With a hardcore technical background and massive funding, Monad, which is backed by numerous top institutions, has attracted a lot of market attention.
This article takes you on a quick tour of the various opportunities to participate in the Monad ecosystem.
Toggle
Hardcore technology, but with meme attributes
Community activities + project interactions, diverse participation in the Monad ecosystem
Join the community
Interact with ecosystem projects
Liquidity protocol Elixir
Decentralized exchange Swaap
Interact with partner projects
In summary
Monad is a high-performance Layer1, focusing on the parallel EVM concept, aiming to improve the Layer1 network and enhance the execution efficiency of EVM through parallel processing, thereby unlocking the potential of the EVM ecosystem.
The official whitepaper states that Monad achieves processing capabilities of up to 10,000 TPS, comparable to Solana’s performance, and is compatible with EVM, meaning Ethereum smart contracts can easily migrate to Monad for operation, envisioning a future fusion of Solana and ETH.
The primary market has already recognized Monad’s potential, as in April, Monad Labs announced a $225 million funding round led by Paradigm, the largest cryptocurrency funding round so far this year, totaling $244 million as of April 10.
In addition to its hardcore technology and strong funding background, Monad’s official marketing style is also widely praised.
The Monad community has a positive attitude towards meme culture, with the official team often interacting on Twitter using various memes and holding weekly community meme creation activities. Despite the hardcore technical narrative, the relaxed and friendly marketing approach has received a positive response from the community, with every tweet from Monad garnering a lot of interaction from community members.
High-performance narrative + massive funding background + responsive official team, don’t you feel like something big is coming?
However, Monad is currently in the internal testing phase and has not been widely opened to users.
Nevertheless, there are still many ways to participate in future airdrops through “curveball” methods.
As mentioned earlier, Wormhole distributed its token $W to all members of the Monad Discord group during the TGE, indicating that the Monad community’s identity carries genuine value.
Monad welcomes positive discussions within the community, encouraging community members to actively engage in project construction. Therefore, actively joining the community for discussions is a good way to earn Monad token benefits.
In the community, active participation in discussions can earn DC group identity.
Every week, the Monad community organizes various activities, such as AMAs on Twitter, community poker entertainment, brainstorming, etc.
The community also encourages users to introduce Monad to others in their own way, including but not limited to creating meme images, writing introduction articles, etc.
Although Monad has not yet launched its mainnet, some projects have already settled in the Monad network. Interacting with deployed ecosystem projects is also an effective choice for the upcoming mainnet.
Liquidity protocol
Elixir
Elixir is an on-chain order book liquidity enhancement protocol that allows users to provide liquidity to various currency pairs locally through integration with the Monad ecosystem. Elixir aims to bring a layer of permanent liquidity to Monad, benefiting the entire ecosystem.
Elixir is expected to release a token airdrop in 2024Q3, and users can currently participate in interactions by minting $EXLETH and providing liquidity.
Mint $EXLETH:
Visit https://elixir.xyz/apothecary
Connect your wallet
Mint ELXETH
Deposit $ETH (at least $100 for rewards)
Claim the Elixir mystery box and withdraw the deposited $ETH in August
Providing liquidity:
Go to the liquidity page of Elixir https://agg.elixir.xyz
Connect your wallet
Click on the currency pair and provide liquidity
Decentralized exchange Swaap
Swaap Finance
Adopts the AMM model, allowing users to trade without the need for a traditional order book, combining oracles and dynamic spread mechanisms to provide more accurate market prices and automatically adjust the spread based on market conditions. By dynamically adjusting the allocation of assets in the liquidity pool and transaction fees, Swaap provides sustainable returns for liquidity providers.
Since SwaapV2 has not yet opened the Swap function, the current way to interact is simpler, allowing users to deposit assets and add liquidity to earn rewards.
Add liquidity:
Go to https://earn.swaap.finance/
Connect your wallet and select the corresponding assets to deposit
As mentioned earlier, Wormhole provided an airdrop allocation to the Monad community during the TGE, so Monad is likely to reciprocate with an airdrop for the Wormhole community, especially considering the recent opening of Wormhole’s $W token staking, providing another possibility for a Monad airdrop. You can now participate in the Wormhole ecosystem to potentially receive a Monad airdrop.
Stake $W
Visit the Wormhole staking page https://tally.xyz/gov/wormhole
Connect your wallet and select staking
Choose a node for staking
Use Wormhole for cross-chain transactions
Go to https://portalbridge.com/
Connect your wallet and use Wormhole for cross-chain transactions
*Cross-chain interactions are based on the ability to stake $W, with the focus on staking.
The strong background and active community of Monad indicate that it is not an empty project. When the official testnet goes live, it will undoubtedly attract a lot of attention. For individual players, taking advantage of the early participation in the Monad ecosystem before it gains significant traction is a good way to alleviate airdrop anxiety and potentially profit from a high-risk ratio.
PS: This article does not constitute investment advice; project interactions involve risks, and it is recommended to use a new wallet address for project interactions.
This article is authorized to be republished from Deep Tide TechFlow.
