Feeling Anxious Again from Airdrops StepbyStep Guide to Ambushing the Star Project Monad

Feeling Anxious Again from Airdrops StepbyStep Guide to Ambushing the Star Project Monad

Feeling Anxious Again from Airdrops StepbyStep Guide to Ambushing the Star Project Monad

Author: TechFlow of Deep Tide
Recently, everyone’s mindset has been messed up by airdrops, such as pizza, ionet, zksync, and so on. The airdrop projects continue one after another.
Although the witch-hunting actions of many projects have also led to a result similar to the release of exam results, with some happy and some worried, the wealth effect may not be as exaggerated as the previous rounds of airdrops, but the stories of getting rich through airdrops continue to entice people.
If you don’t know which project to get involved in, you may want to learn more about the leading narrative of parallel EVM, Monad.
With a hardcore technical background and massive funding, Monad, which has been supported by numerous top institutions, has attracted the attention of many in the market.
This article will give you a quick overview of the various opportunities to participate in the Monad ecosystem.
Table of Contents
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Hardcore technology, but with meme attributes
Community activities + project interaction, various ways to participate in the Monad ecosystem
Join the community
Interact with ecosystem projects
Liquidity protocol Elixir
Decentralized exchange Swaap
Interact with partner projects
Conclusion
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 unleashing the potential of the EVM ecosystem.
The official whitepaper states that Monad achieves processing capabilities of up to 10,000 TPS, which is comparable to Solana’s processing performance, while being compatible with EVM, meaning that Ethereum smart contracts can easily be migrated to Monad for operation, envisioning a future fusion of Solana and ETH.
The primary market has already recognized the potential of Monad. In April, Monad Labs announced a $225 million funding round led by Paradigm, the largest cryptocurrency funding round so far this year, with a total funding of $244 million as of April 10.
Not only does Monad have hardcore technology and strong funding background, but its official marketing style is also widely praised.
The Monad community has a very positive attitude towards meme culture, with the official team often interacting on Twitter with various emojis, and hosting weekly community meme creation activities, making Monad, with its penetration of various meme cultures, appear at first glance to be a memecoin, in stark contrast to the narrative of the hardcore tech community.
This relaxed and friendly marketing style naturally receives a positive response from the community, with every tweet from Monad receiving a lot of interaction from community members.
High-performance narrative + massive funding from a star background + a team that knows how to engage, doesn’t it feel like something big is coming?
However, at present, Monad is still in the non-public internal testing network phase and has not been widely opened to users.
Nevertheless, there are many “curveball” ways to participate in future airdrops of Monad.
As early as the Token Generation Event, Wormhole airdropped its token $W to all members of the Monad Discord group, showing that membership in the Monad community has real value.
Monad welcomes positive conversations within the community and encourages community members to actively engage in project construction, so actively joining the community to participate in discussions is a good way to secure Monad token benefits.
In the community, active participation in discussions can earn you DC group membership.
Every week, the Monad community hosts a variety of activities, such as AMAs on Twitter, community poker entertainment, brainstorming, and more.
The community also encourages users to introduce Monad to others in their own way, including but not limited to creating meme images and writing introductory articles.
Although Monad has not yet launched its mainnet, 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 for 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 token airdrops in 2024Q3, and you can now participate in the interaction by minting $EXLETH and providing liquidity.
Mint $EXLETH:
Visit https://elixir.xyz/apothecary
Connect your wallet
Mint ELXETH
Deposit $ETH (at least $100 to receive rewards)
Claim the Elixir mystery box, and you can withdraw the deposited $ETH in August
Provide liquidity:
Go to the Elixir liquidity page
https://agg.elixir.xyz
Connect your wallet
Click on the currency pair and provide liquidity
Decentralized Exchange Swaap
Swaap Finance
Adopts an AMM model that allows users to trade without the need for a traditional order book. It combines oracles and dynamic spread mechanisms to provide more accurate market prices and automatically adjusts the spread based on market conditions. By dynamically adjusting the allocation of assets in the liquidity pool and transaction fees, it provides sustainable returns for liquidity providers.
As SwaapV2 has not yet opened the Swap function, the current way to interact is simpler, where users can deposit assets to add liquidity and earn returns.
Add liquidity:
Go to https://earn.swaap.finance/
Connect your wallet and choose the corresponding assets to deposit
As mentioned earlier, Wormhole provided an airdrop quota to the Monad community during the TGE, so Monad is also likely to airdrop to the Wormhole community, especially now that Wormhole has opened token staking for $W, providing another possibility for Monad airdrops. You can now participate in the Wormhole ecosystem to potentially receive a Monad airdrop.
Stake $W
Go to the Wormhole staking page
https://tally.xyz/gov/wormhole
Connect your wallet and choose to stake
Select a node to stake
Use Wormhole for cross-chain transactions
Go to https://portalbridge.com/
Connect your wallet to use Wormhole for cross-chain transactions
*Cross-chain interaction is focused on $W staking
The strong background and active community of Monad also indicate that it is not an empty project waiting to be taken advantage of. When the official testnet goes live, it will undoubtedly attract a large number of developers to build on the platform.
For individual players, taking advantage of the opportunity to participate in the Monad ecosystem before it becomes crowded is a good way to relieve airdrop anxiety and potentially profit from a high risk-reward ratio.
PS: This article does not constitute investment advice. Project interactions involve risks, so it is recommended to use a new wallet address for project interactions.
This article is authorized for reprint by Deep Tide TechFlow.