What makes N1 interesting is that trading volume is only part of the equation.
You also have Market Support, Momentum, Referral and Social points. Trading consistently, building momentum through daily activity, sharing updates on X, discussing strategies and helping grow the community can significantly increase your total points.
In my case, I average around $250–$300 in costs per $1M trading volume using my BTC/ETH hedging strategy. Let's take $275 as the average.
https://x.com/Adaminssane/status/2118091964226969714
That's just $27.50 per $100K volume.
Now, with a good combination of execution, momentum and social activity, your total points can potentially reach 2x or even 3x what volume alone would generate.
That brings the effective cost per 100K points down to roughly $9.16–$13.75, assuming 200K–300K points per $100K volume.
Let's look at the potential airdrop scenarios:
🔹 Bearish scenario:
$10M FDV + 5% supply allocated to the airdrop.
100K points = $25.
Even using the full $27.50 cost before accounting for additional points, that's already close to a 2x potential return.
🔹 Bullish scenario:
$100M FDV + 20% supply allocated to the airdrop.
100K points = $1,000.
1M points = $10,000.
That's potentially 36x compared with the $27.50 baseline cost per $100K volume.
Of course, these are hypothetical scenarios, not guaranteed allocations or returns. The final outcome depends on the actual tokenomics, eligibility rules, points conversion and the number of farmers.
Personally, I struggle to find many farming opportunities with this kind of potential risk/reward profile.
We see plenty of new perp DEXs entering the market, but many are simply following the Hyperliquid playbook, relying on marketing or big-name backers.
I'm more interested in platforms bringing something genuinely different to the market.
That's why I'm still putting time into N1.
The real question is: are we underestimating the value of N1's points system, or am I missing another farming opportunity with similar potential?
https://x.com/Adaminssane/status/2118997550954897694
If you haven't joined N1 yet, come be part of the community!
⚡️ I'm an N1 Affiliate.
Join through my link for a 10% weekly Points Bonus and a 5% trading fee discount.
🔗 https://app.n1.xyz/r/adaminssane
N1 Affiliate Invite Code (Single-use)👇
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BTC/ETH Hedging Strategy to Farm N1 Perps DEX
https://www.publish0x.com/the-king-of-crypto/btceth-hedging-strategy-to-farm-n1-perps-dex-xqvzjvp
