Sirwin
Sirwin

Hype Coins to Distribute Money for Volume and Liquidity

By idiosyncratic | Idiosyncratic Crypto | 16 Oct 2023


The crypto market has started showing signs of life after a very long and depressing downward action. Though it is hard to claim that crypto has tested the new local bottom, it has motivated the retail investors and the projects focused more on the possible ways to bring many people to their own Layer 1 / Layer 2 projects.

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A couple of days ago, this was done by Optimism by distributing the third airdrop to the community. Also, both Arbitrum and Optimism are consistently funding the projects operating on them with the native tokens so that they can keep the liquidity of people in their projects.

You may not be surprised to see 10% - 20% higher APR offers in the projects if you opt to lock your funds for a duration. This is one of the strategic activities of projects which is funded by their community tokens allocations. As Optimism did an airdrop, which was a bit awkward, Arbitrum comes with a new campaign.

Arbitrum Odyssey Program

Such programs always focus on providing simple tasks that require crypto investors to put their money, initiate transactions, approve and revoke smart contracts and some other on-chain operations.

Most of the time, such focused activities are supported with a theme to advertise better. For example, SUI does it under the concept of SuiFrens NFTs and DeFi, GameFi, etc., to make it look better.

Arbitrum's Odyssey program is special because when it was first conducted, the project did not have a market valuation and this might be a reason that make people reconsider their plans. However, now it is much easier to guess the number of people that may take part in and how much a person can earn as a result of their investment.

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You will recognize some popular projects on Arbitrum. The crypto investors will be interacting with these projects to gather points, have a chance to mint an NFT or receive ARB tokens accordingly.

This strategy has both ways: retail users and developers.

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As in the example of SUI, devs are always welcome to the projects as they are the primary sources of engagement on a chain. In this situation, SUI project is very direct. Even if ARB team and projects on Arbitrum do not need to be as direct as Sui team, they always give some clues to the community members that are interested.

Know How to Hunt & Where to Hunt

Also, the projects realize that they cannot hit the target audience by themselves. Thus, the collaboration with such projects as Proof of Human and social identity.

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Majorly, Galxe, Gitcoin Passpart are two human checkers to eliminate wallets that did not do what they expected. Remember, more amount of money = better advertisement

While the projects are deliberately burning money, we need to grab the free money or high liquidity
The tendency of the most popular projects has always been doing their own marketing by themselves.

However, when the projects are not recovering in terms of the global side of crypto, their preferences switch to the partnerships with Market Makers to move liquidity actively or, majorly, starting to work with a popular project that adopts Proof of Human model to eliminate wallet accounts or help university gain more popularity.

Please develop your hunting skill to grab free money that projects burn to grow their social power. You may not have a really strong skill but it is always good to start building from somewhere.

What do you think about the money-burning campaign? Share your own experience below 👇

Hive On ✌🏼

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idiosyncratic
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