Thread by @FutureIsCrypto8

Here is a strategy for #airdrops on Terra

Eligibility is easier. For most airdrops, staking LUNA may be sufficient. Staking ANC is helpful too

Staking APR is ~10%, so your money isn't idle while you wait

Potential airdrop list: lunaairdrops.com

Step by step thread 👇

Step 1: Install Terra Station wallet (chrome.google.com/webstore/detai…)

Only available on Chrome. The other option is to install it on Windows. However, I haven't tried this as the extension is simpler and works everywhere

Create a new wallet just like you would on Metamask

Step 2: Buy some #LUNA

The cheapest option is to convert MATIC on Polygon to LUNA using @SimpleSwap_io. Transaction cost is low

Visit the simpleswap website, choose MATIC on the left and LUNA on the right. Enter the Terra Station wallet address as the destination

If you can't find MATIC, just wait and keep checking every hour or so

Typically, I have found that MATIC is unavailable when USA is sleeping.

You could probably buy LUNA on a CEX with less hassle. But I wouldn't know much about that.

The minimum amount you can transfer is ~$100 worth of MATIC

However, I would suggest you transfer $250. That way, we have enough to stake both @anchor_protocol and LUNA

Click "Exchange". On the next screen, you will see the SimpleSwap wallet you need to transfer the MATIC to

Copy their address, open Metamask, set your network to Polygon. Send MATIC to this address via Metamask

SimpleSwap will show the progress. Transfer takes a while (30 - 60mins. maybe more)

I have used them before and it works. But be aware that it is centralized service

Step 3: Swap some LUNA to ANC & UST

Use @terraswap_io (#airdrop possible. 3rd on defillama.com/airdrops. TVL: $1.12bn) to swap ~$75 worth of LUNA to ANC. Swap another $55 worth of LUNA to UST

Cost per transaction: ~$1.10

UST is default for transaction fee. Change it to LUNA

Step 4: Stake LUNA & ANC

Stake LUNA on station.terra.money/staking (~$100). If you have more money, I would stake it here

Stake ANC on app.anchorprotocol.com/gov (~$25)

Staking costs about ~$0.25

Step 5: Provide Liquidity ANC/UST

May not be needed for airdrops

But Liquidity APR is good @ 100%+ on app.anchorprotocol.com/anc-ust-lp/pro…

Provide $50 worth of LUNA + $50 UST in the liquidity pool

Leave some LUNA / UST (~$10) for gas fee

If you want to go further, HODLing $MIR / $MINE might help as well. Mirror is similar to the Synthetix token. Projects like @spar_protocol might want you to have it

LPing on @mirror_protocol, @anchor_protocol and @pylon_protocol might help as well. See

https://twitter.com/astroport_fi/status/1464325340197797895

.

But don't just be an airdrop hunter. As time goes by, using the protocols will become important as well

Try some projects on terradrops.io and @lunaairdrops

Some are very interesting

For e.g. You can also deposit & borrow in Anchor. Deposit rates are good @ 19%

Or look at @Terra_Land. I like projects that link the real & crypto worlds (although this one does not seem to be achieving its goals)

Let us know if you find any that you like.

Also note that you haven't really "wasted" any money. You still have most of what you started with

Disclaimer
- The above won't be sufficient for all airdrops (or any, for that matter). For example, some airdrop to HODLers of other tokens ($MINE, $STE, etc)
- Some may want higher staked amounts. For example app.starterra.io/project/kujira… wanted the wallet to hold 250 STE (~$1000+)

- Projects I talk about seem interesting to me. They may not necessarily be good projects. It is not investment advice
- APRs change
- LUNA / UST could lose value
- Airdrops may not happen
- Not financial advice

Next stop: #Algorand projects and potential #airdrops?