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How to Farm Airdrops with a $100 Wallet on Solana: A 2024 Protocol Guide

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Posted on February 15, 2024

TL;DR: The Busy Airdrop Farmoor's Portfolio

For those of you busy airdrop farmoors who just want the quick and dirty, here's a basic farming portfolio:

  • $20 in Kamino (Loop with MaginFi)

  • $20 in MarginFi

  • $20 in Parcl (Provide Liquidity)

  • $20 in Drift (Trade to generate volume)

  • $20 in Zeta (Trade to generate volume)

Now, for those who want to dive deeper, let's get into the nitty-gritty of how to maximize your Solana airdrops.

The Airdrop Farmoor's Wallet: A $100 Adventure on Solana

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Step 1: Setting Up Your Solana Wallet

First things first, you'll need to set up a Phantom wallet. This is your key to the Solana network and the first step to becoming an airdrop farmoor. Make sure to securely save your seed phrase and fund your wallet with SOL or other tokens.

Step 2: Engaging with MarginFi and Kamino

Next, we'll be engaging with MarginFi and Kamino. These two can be looped together in a beautiful dance of depositing and borrowing. Here's how it works:

  1. Deposit SOL on Kamino.

  2. Borrow USDC.

  3. Deposit USDC on MarginFi.

  4. Borrow SOL.

Rinse and repeat. But remember, keep an eye on your health indicator. With this strategy, you leverage $40 to farm both Kamino and MarginFi points.

Step 3: Providing Liquidity with Parcl

Parcl is a protocol that rewards you for providing liquidity. Here's how to get started:

  1. Visit Parcl: Navigate to Parcl and create an account by naming it and signing the transaction.

  2. Provide Liquidity: Go to the "Provide Liquidity" section and deposit USDC in the liquidity pool. Note that these funds are locked for 30 days.

Step 4: Trading with Drift

Drift Protocol rewards you for trading. Here's how to maximize your points:

  1. Visit Drift Protocol: Go to Drift Protocol to start.

  2. Deposit Funds: Navigate to the "Deposit/Withdraw" option, enter an amount to deposit, and confirm the transaction.

  3. Engage in Trading: Utilize the 'Trade' menu to select perpetual markets. Each dollar traded earns you points which are distributed weekly. The more volume, the more points. Degen strat: Open and directly close large trade to generate volume, hoping than airdrop > fees and loss.

Step 5: Trading on Zeta Markets

Zeta Markets rewards you for trading. Here's how to get started:

  1. Deposit USDC: Head over to Zeta Markets and deposit USDC into your account to start trading.

  2. Trade on Zeta Markets: Navigate to the "Trade" section, select a contract, set a reasonable leverage, and open a position to begin earning Z-Score points. Remember, volume is key.

Bonus Step: Jupiter Swaps

As a bonus, do all your swaps with Jupiter so you can also earn trading activity for season 2 of the JUP airdrop. It's like getting a cherry on top of your airdrop sundae!

Safety First, Airdrop Farmoor!

Remember, while the world of Solana airdrops can be exciting and potentially lucrative, it's important to always prioritize safety and best practices in your crypto investments. Never invest more than you can afford to lose, and always do your own research before diving into a new protocol or project.

So there you have it, airdrop farmoor! Your comprehensive guide to maximizing Solana airdrops with a $100 wallet. Now go forth and farm those airdrops!