After Hyperliquid, which has been one of the largest airdrops ever in the crypto world, paying attention is key.
And that's why I want to talk about what I believe is a good opportunity. Although decentralized exchanges are appearing much more frequently, those with the greatest potential should be separated from the rest.
The project in question is Etheral, a dex that stands out from the rest thanks to the enormous team behind it. I'm talking about Ethena, another very large project whose coins, such as ENA (ranked 30th), and its stablecoin, USDE (ranked 13th), are among the largest in the ecosystem.
Without going into too much technical detail, they have a TVL of over 300 million, even though the project hasn't even been officially launched yet. This makes it more attractive to join, as it's an early stage where points aren't yet awarded for volume, as with other similar projects. This means that unless you're a very active trader, you'll have to spend some time making trades to earn points. Even though you can use strategies like delta neutral, you'll lose some time.
At the moment, the project is in a pre-deposit phase, where you can easily earn points just by depositing and maintaining your holdings. However, this phase won't last long because its testnet was launched a few weeks ago, so you should take advantage of it and get as many points as possible before the mainnet version is released. I repeat, it's a good time to expose yourself to this airdrop and get a good position, thanks to the fact that it's season one.
Important information to keep in mind: the deposit is not blocked and can be withdrawn at any time. Once the deposit is made, it becomes the project's stablecoin, which is pegged to the dollar, so there is no risk of volatility. Keeping this stablecoin in your wallet is what grants you points for the airdrop at this stage. However, it can be easily exchanged for other cryptocurrencies on exchanges like PancakeSwap or on the project's own platform, so the money is completely liquid and can be accessed at any time. As an extra bonus, participating also earns you points for Ethena in its current season, making it a two-in-one solution.
To participate, you only need to make a deposit, which must be made in "usde," the Ethena stablecoin, and through the Ethereum mainnet. You must remember to have Eth available for fees. You can buy USDE directly on Binance, but you can also use ETH to withdraw and then convert it to USDE on a dex like Uniswap to save fees.
Finally, I'd like to add that you can also earn some profitability by depositing into a protocol like Morpho, Aave, and Euler, to name a few. By doing so, you'll still earn points, but that would lock up your capital within these protocols. Furthermore, you must do so in the pools listed on the EtherEal platform.
I'm leaving the link to the pre-deposit platform for anyone who wants to check it out. It's a referral link, so if you decide to use it, great!👍 Just copy and paste it into your browser.
https://deposit.ethereal.trade/points?ref=Y6GFF0
I'm also providing a link to the testnet version of the project, which has already been launched. The team has stated that participating in the testnet won't provide any incentives, but you don't lose anything. It's also perfect for anyone who wants to test their trading strategies with fictitious money.
https://testnet.ethereal.trade
I'll provide information when there's news about the project. I'll also continue to provide information on other projects and potential airdrops, so you can follow me to stay up to date.
Thanks for reading.