1/ AIRDROP HUNT 🪂
𝗖𝗢𝗡𝗧𝗔𝗡𝗚𝗢
@Contango_xyz is bringing expirables to DeFi in Arbitrum. Buy or sell assets at a set price and date in the future without order books or liquidity pools
#airdrop #airdrops
⏳Estimated time : 10min
💲Cost : less than $2 gas & trading fees
2/
💠 How does this protocol work ?
When a trader opens a position, the protocol :
▫️borrows on the fixed-rate market,
▫️swaps on the spot market,
▫️then lends back on the fixed-rate market
At maturity, Contango offers both physical delivery and cash-settlement
3/
Good to know :
▫️Contago is audited, you can find full report here :
github.com/contango-xyz/c…
▫️They are listed on #Arbitrum official Portal :
portal.arbitrum.io/?search=contago
▫️Here's a full guide to explain how Contagos works :
medium.com/contango-xyz/t…
4/
💠AIRDROP STRATEGY💠
1️⃣ Go to : bit.ly/contango0xFL
Connect your wallet to Arbitrum chain
On the left side, you find the trading panel
5/
▫️In this strategy, you have to open a Long or Short position on any pair with any amount
▫️I use DAI-USDC pair because it allows to open a trade with less than $7
If you want some exposure to $ETH the min collateral is around $50
6/
2️⃣ Open a position
🔸Select DAI-USDC pair
🔸Set a LONG position
Minimum order size is 220 (This is not the amount you will pay)
🔸Set maximum leverage 33.3x
Now you can see that amount to deposit as collateral is $6.87
🔸Press Open Position and validate with your wallet
7/
3️⃣ Close your position
Your trade appears in Open Position :
🔸If you are there for trading, you can keep your position & open others
Longing $ETH until september is basically free now (+0.01% basis) NFA
🔸If you are only speculating on airdrop, you can close your trade
8/
Note that :
▫️Using expirables on Contango is substantially cheaper than perps DEX
▫️Funding fees on perp platforms are unpredicatble, they change every hour, whereas expirables have a basis rate which is known upfront
Check this tweet :
9/
4️⃣ Complete Galxe Early Supporteeer :
galxe.com/contango/campa…
This campaign does require:
🔸Join discord
🔸Follow Contago on Twitter
🔸Make a retweet
🔸Visit the dAPP
10/
5️⃣ Complete Galxe Early Tradeeer :
galxe.com/contango/campa…
This campaign does require:
🔸Follow Contago on Twitter
🔸Make a retweet
🔸Placed a trade ( we just did )
11/
Hope this thread was helpfull.
Join us on telegram to not miss any #airdrops hunt : t.me/FastLife0x
You can help me a lot with a like ❤️ & RT 🔁 on first tweet below.
See you soon for the next strategy 🫡
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.