In just about 45 days, it grew to one of the biggest protocols around holding over $6.5 billion. Only reason the growth slowing down was that the protocol has 'paused' deposits at the moment.

So what is Eigenlayer and why has so much money been pouring into this one protocol itself?

Here's a quick run down:

What is Eigenlayer?

Eigenlayer is a protocol that is built on Ethereum that introduces 'Restaking'. This allows users to 'restake' their locked up tokens to validate the Ethereum blockchain, and allows reuse of these tokens to secure other protocols. This is known as Liquid Restaking Tokens (LRT)

Users are able to use their Liquid Staking Tokens (LST) like stETH (Lido staked Ethereum) or rETH (Rocketpool Ethereum) and deposit into Eigenlayer. These tokens have already been popular for users to stake ETH without the 32 ETH staking requirements.

Restaking rewards are then given to users who stake on Eigenlayer, on top of accruing rewards from their LST.

Backers of Eigenlayer

Eigenlayer raised $64.5m over 2 investing rounds and are being backed by big VCs like Coinbase and Blockchain Capital and Polychain Capital.

They are also valued approximately about $500M at the moment, and is set to grow even more.

This amount of funding is considered super huge considering many other big projects in the space just have fundings in the fractions of what Eigenlayer acquired.

Why Invest in Eigenlayer?

Biggest reason: Airdrop. Probably one of the biggest this year.

Stakers and restakers already got the first taste of it in the form of ALT.

Also, a high chance of future airdrops from other protocols plus also the main airdrop from Eigenlayer itself. ALT stakers gained anywhere from 4 to 5 figures just from restaking with Eigenlayer.

How to Restake?

One problem with Eigenlayer is that deposits are now closed as of writing this post. And when deposits open, it's usually in a very small window of time only.

And when that window of time is open to deposit, you only accrue Eigenlayer points to qualify for their airdrop

What if you could double dip to get more airdrops with Eigenlayer?

This comes in the form of LRT protocols that can help you accrue Eigenlayer points while gaining the protocol's points as well. Treat this as a double dip as you have a chance for Eigenlayer's airdrop plus the protocol you are staking with as well.

Introducing.. Ether.fi

Ether.fi is one of such protocol to help you restake in order to get both protocol and Eigenlayer rewards

One of the best thing is that the deposits are always open, and all you need to do is deposit ETH to get eETH.

It's a very simple process, and just a two step process!

Step 1: Sign in with your wallet

1. Go to: https://app.ether.fi/eeth?address=0x3AD0f3B10cea9640Ed42d207196713eF5CE1E9B2 (That's my link to get both of us extra points!)

2. Click the eETH tab on top.

3. Put the ETH you want to stake, then click Stake.

4. Done! (It's that simple)

Note: You need to account for gas fees. As this is all on Ethereum network, check the gas fee and make sure you have enough ETH for gas. It can be pricey at times!

Step 2: Deposit eETH into Pendle!

Now that you have eETH, it's time to make more yield out of your tokens.

You can deposit your tokens into Pendle and continue accruing points and rewards

1. Go to this pool: https://app.pendle.finance/trade/pools/0xf32e58f92e60f4b0a37a69b95d642a471365eae8/zap/in?chain=ethereum

2. Choose 'Zap' option (should be default), then deposit eETH into the vault.

3. Done! You now are earning for Eigenlayer, Ether.fi and Pendle rewards!

Considerations for Farming Eigenlayer Airdrop

1. Gas fees: With this being on Ethereum, every step from approval to depositing will costs a considerable amount of gas fees (Expect $10 to $100 in total). You can check Etherscan for when gas fees are lower to reduce your fees (Try waiting for around 10 to 25 gwei)

2. Your tokens are locked: Treat this as your liquidity being locked, especially that you need your tokens there to continue accruing points. There is also no way to redeem eETH tokens at the moment.

3. High Risk Venture: There is always a chance that there is no airdrop, and that the protocol may go under. There's no 'too big to fail', as seen before with LUNA with Anchor protocol which was 3rd in TVL at one point of time before the collapse. If you are depositing into Eigenlayer, you need to accept that you can lose all your funds.

Conclusion

Hope that this short guide gives you a quick overview of what's up in the market and how to take advantage of possibly one of the biggest airdrop in history.

I personally invested quite a huge sum of money into this, and channeling even more money as I can see the big potential in this one. Plus, investing in Ethereum has a very good risk to reward ratio in my opinion.

If you want to support me, definitely use my link for Etherfi as it'll give me more points (and give you sign up bonus as well).

Also, you can subscribe to my newsletter here as well as I'm trying to grow on this platform too!

With such lucrative opportunities right now and many projects being backed by big investors like Binance, they are conducting airdrop to attract users to their projects.

Here are 10 projects you can start working on today which requires almost $0 investment.

Basic Setup

*If you have used BNB Smart chain and opBNB, you can skip this part.

Before you begin: Make sure you have BNB on BNB Smart Chain and opBNB. There are some transactions that are needed to be done but requires gas fees.

Next, you need to add BNB Smart Chain and opBNB to your wallet

BNB Smart Chain: https://chainlist.org/chain/56

opBNB: https://chainlist.org/chain/204

1. NFPrompt

Link: https://nfprompt.io/earn?invitecode=9j7brvp4

What is it: AI Picture/video/music Generation software

Time needed: 5 - 15 minutes

What to do:

• Complete daily login

• Complete Tasks by minting PFP, music, video, etc.

• Higher $cNFP = Better airdrop

Comments: With Season 1 completed, they're doing a season 2 now which should be followed by another airdrop of the tokens.

2. QnA3.AI

Link: https://qna3.ai/?inviteCode=rXKHpePs

What is it: Q&A Platform similar to Quora with AI generation

Time needed: 5 minutes

What to do:

• Daily Check in

• Vote for the top few questions to earn more credits

• More points + More votes = Higher chance/allocation for airdrop

3. Reiki

Link: https://reiki.web3go.xyz?ref=acef18872b377773

What is it: AI Chatbots

Time needed: 5 minutes

What to do:

• Mint Passport (Free, pay gas fees only)

• Daily Check in

• Complete quiz (one time)

• Connect socials (one time)

• Chat with bots (optional, but try it out)

• Collect Gold Leaves which should be the requirement for airdrop

4. Forge

Link: https://forge.gg/signup?referralcode=7c25ca86-965f-4461-8d87-c46d1bc03133

What is it: Gaming/Achievement Platform for gamers. (Can skip this if you do not game at all if you want)

Time needed: 5 minutes to Variable

What to do:

• Connect socials

• Connect Steam/Xbox account (important)

• Complete weekly quests

• Play games and complete quests! Some specific web3 games are included as well.

5. Starry Nift

Link: https://starrynift.art?referralCode=8am-_6-bOY

What is it: Decentralized Identity, Metaverse

Time needed: 5 minutes to 30 minutes+

What to do:

• Mint Citizen Pass (Gas fees)

• Connect Socials

• Daily Check in

• Complete Daily Events (you can AFK for 10 minutes in one space for one of the quests.

EDIT: Event just started up to 26th Feb to finish these quests. I would say this will help you qualify for more airdrops!

https://galxe.com

The Future is Now: AI + Web3 Rewards Festival by StarryNift | Galxe

Join The Future is Now: AI + Web3 Rewards Festival from StarryNift on Galxe - Your Web3 Community is Waiting. Earn rewards to build your Web3 digital identity.

6. Well3

Link: https://well3.com/ (Use code below to sign up)

Codes to signup (One code per person. Will Update if necessary)

JF96R

2QWAL

MAELC

F7EV7

AAAQF

What is it: Wellness app

Time needed: 5 minutes to 10 minutes

What to do:

• Complete free quest in Master's Wisdom daily (Daily check in)

• Complete tweeting/reposting quests (Some are daily)

• (optional) Adding banner + changing twitter username for points

• Collect XP, level up, complete daily quests.

7. Carv

Link: https://protocol.carv.io/airdrop?invite_code=A16K1F

What is it: Data to Earn platform

Time needed: 10 to 15 minutes

What to do:

• Bind socials (One time - Do this first before collect)

• Daily collect on Ronin/opBNB/zkSync/Linea

• Complete soul challenges (One time tasks, but takes some time)

8. Over Wallet

Link: https://mobile.over.network/en/invite/S3EGAS0CR9

What is it: Staking/Node Platform

Time needed: <5 Minutes

What to do:

• Answer Daily question

• Daily Check in

• Earn points, stake points in app

9. My Shell

Link: https://app.myshell.ai/invite/011e39

What is it: Chatbot Platform

Time needed: 5 Minutes

What to do:

• Complete quests and progress levels

• Finish two daily quests (Chat with bot, do on chain interaction)

• Points convert into platform token at end of season

10. Ultiverse

Link: https://account.ultiverse.io/signup?invitation_code=c2a9f54ec03d

What is it: Chatbot Platform

Time needed: 10 - 15 Minutes

What to do:

• Connect Social Media & Wallet

• Complete missions (No dailys here)

Conclusion

These apps and websites have some major backing, with some of them already hinting at an airdrop really guaranteed. No idea how much the tokens are worth when release, so don't spend too much time as you progress as much.

Also, do not multi account as most of these can result in your account getting banned.

This list will be useful for people who has a portfolio of under $1,000 and airdrops will help you qualify for free money.

Also, try to go through all the daily quests as they are key to earning points on the platform. Takes me about 20 to 30 minutes including person stuff to clear all the dailys and more with this.

Another thing is: Start as soon as possible, as a lot of protocol snapshot is based on user's join date as well!

November saw $343 million lost to crypto hacks and fraud cases, with over $900m in just the second half of 2023.

As much as DeFi feels like the wild wild west, there are steps that the users can take in order to protect their assets on chain as well.

Here are a few tools you can use:

1. Pocket Universe

Pocket Universe is an browser addon that you can use that helps you to double check your assets whenever you are signing a transaction.

Whenever a transaction is done, Pocket Universe pops up first that shows you what is exactly done. This also helps you to see what the smart contract is going to do and the addon prompts you if anything suspicious is going on.

For most people who can't read smart contracts, this makes it very easy for you to know if there is something wrong such as your crypto being spent when you aren't supposed to.

For PocketUniverse, they provide a free $2000 insurance for any insured transaction in case something goes wrong. You can use the referral link below to increase it by 10% to $2,200 insured

Link: http://join.pocketuniverse.app/ref/5CC2

2. Revoke Cash

This is one of the best websites to use to revoke any smart contracts that you may have signed in the past.

Some hacks have happened when users has signed a contract in the past that allowed a certain protocol unlimited access to their assets. Then when that protocol gets 'hacked', the hackers could easily access assets in that same wallet. This is why this website is important to help you revoke access of websites that you have not used for a long time too, or signed unlimited access to your wallet.

You can access the website at https://revoke.cash/ then connect using your wallet to start revoking contracts.

Revoke Cash also has an extension that works similar to Pocketuniverse, where it alerts you if you may be doing something you might not expect.

You can download the extension here: https://revoke.cash/extension

3. De.Fi

De.Fi is a website that combines SocialFi & Antivirus at the same time. Similar to Revoke.cash, you can revoke contract easily from their anti virus under their 'Safe' tab.

Scanning your wallet may show something like this:

It shows Low to High Risk contracts, and the number of 'high risk threats'. These are basically contracts that can be exploited in certain ways due to a similar event in the past. It also gives you a wallet score so you know how safe your wallet is.

You can access the website here to explore the antivirus and more: https://De.Fi

Conclusion

With many exploits and hacks around, there are tools to help the users secure their assets. Also, there are more such extensions and add ons out there that are very similar to what is introduced in this list.

However it is still the user's responsibility to safeguard their assets. Doing dangerous things such as randomly signing transactions that are suspicious could still lead you to lose your assets. However, these extensions make it a lot easier to dechiper what is real and what is a scam.

Follow Me

If you want to follow or support me, you can:

1. Subscribe to this newsletter by clicking the subscribe button at the bottom here.

2. Mint this article by clicking 'collect' to collect it as an NFT. It also pays me a cup of coffee!

3. Join my telegram channel for more alpha like this: https://t.me/terencecryptocafe

Ducky City is a simple P2E game that combines SocialFi, Metaverse, and GameFi all into one. Currently, there are still less than 10,000 active users and has just started the 2nd epoch.

Ducky City

@duckycity_io

Ducky City Airdrop has officially launched

Total reward: 500,000,000 $DCM tokens ~ $5,000,000
10 epochs
Attractive game-play
Free-to-earn, Play-to earn

Make sure you read through the airdrop participation instructions below

25.2K

18:49 • 21 Nov 2023

Brief Summary

There are 10 epoch you can farm, each lasting a week. You are farming points, which gives you a better chance to qualify for more $DCM tokens

Investment: $0 (Free to play)

Time needed: 10 minutes daily

Potential Profit: $1000+

Step 1: Register Connect your wallet on the website

Official website is https://ducky.city/

Step 2: Instantly get 50 points

Click on the Airdrop Icon, then input my code to get 50 points instantly.

Code is: DCM-MWWKBR

Step 3: Complete Daily Quests

Location: NPC 'Goku' near the middle of the Map

Do these daily quests for 50 points daily

1) Daily check in: Just click the button for 10 points immediately

2) Taking care of plants: Do any action on your farm with your plants

3) Taking care of animals: Do any action on your farm with your animals

4) Interact with Ducky City's Twitter

Here's an official video guide if you need to complete your daily task

Step 4: Convert 50,000 gold to 50 points

Location: NPC 'Pog' near the bottom right of the map

Trade in 50,000 gold for 50 points daily with this NPC. Gold can be earned through your farm by harvesting from crops and animals.

Step 5: Collect Gift Box (every hour)

Location: NPC 'Pesto' near the bottom left of the map

Talk to this NPC up to every hour to collect 1 gift box and 5 points. If you are willing to grind, you can do this every hour. If not, just do this once every day.

Open the gift box for random items and chance of an extra 5 points. These items will convert to points probably at the end of the 10 epoch to extra points, so it gives you more tokens when the airdrop comes.

That's it!

This is a very simple game to pick up and quickly farm for some airdrop opportunities for free with relatively little time.

Every day you could potentially get 110 points easily with minimal effort, but you could grind the gift box every hour if you bother with it.

Dangers with this project is that you just waste your time assuming you did not put any investment in. The project could also fail in the future, so definitely take note of it.

But with the opportunity and the low player base at the moment, the chance to earn more is higher assuming that it might blow up in the future.

Follow Me

If you want to follow or support me, you can:

1. Subscribe to this newsletter by clicking the subscribe button at the bottom here.

2. Mint this article by clicking 'collect' to collect it as an NFT. It also pays me a cup of coffee!

3. Join my telegram channel for more alpha like this: https://t.me/terencecryptocafe

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