My opinion on testnets

Lately, it is becoming increasingly difficult to filter out and follow airdrop alpha

From what I gather, I classify airdrops into three categories
1. retroactive, non-expected airdrops (usually DeFi, Ethereum protocols). Example: $DYDX, $RBN, $1INCH. The best, IMO

2. announced airdrops. these could be a bit scammy, and I usually do not cover them. especially if they require RTs/sharing/inviting friends, a waste of time.
Testnets (blockchains, like $CANTO, or protocols, like $SHELL) have been falling into this "2. announced airdrops" category. they declare it beforehand.

Most of my time working on what information to share is filtering out the garbage, this is very time-consuming
I filter most testnets out. $CANTO, for example:

it was very easy to get in, you just had to tweet (2-day window) and follow a few testnet steps

They ended up airdropping 2% of supply to 9K+ addresses that followed the tasks…

This "testnet" airdrop category is especially common with new blockchains and products, like zkSync and Starknet. I haven't been sharing info on these lately either, since the airdrop success rate is low imo

But $CANTO was basically free tokens
3. liquidity mining disguised as airdrops

If we are being 100% strict, airdrops to LPs are no more than a liquidity mining campaign. The difference is that you don't know the APR beforehand and you speculate that it'll be higher than what's available in the market (and good r/r)
For example, for $HOP, you got an airdrop allocation if you were a LP, and another airdrop allocation if you bridged funds

I think this is perfectly fine if the token wasn't launched (like hop's case)
But there are other protocols that already have a token and the token is tradable, but they advertise an "airdrop" for people that LP

In reality, they are just distributing funds as a liquidity mining campaign

This is the 3rd category, and I don't consider these to be airdrops
Now, we can't say that testnets haven't been successful, so ignoring them altogether is no longer the best choice

I'd rather just use DeFi protocols normally- this usually has been the best strategy in my case. I got $PSP in a few wallets that were doing just normal trading ops
Another thing to consider is that testnet airdrops are different, since they do not require funds in most cases - so no funds for LP, no funds for gas, and no funds for trades required...

That's about it. All things considered,

Would you like to see more testnet info?

Come to Lens 🌿:…

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with olimpio.lens ⚡️

olimpio.lens ⚡️ Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @OlimpioCrypto

Aug 30
Pika Protocol Airdrop CONFIRMED! 🪂

I first shared @PikaProtocol in April 2022

Check if you are eligible to claim here 🧵 Image
Verify if you are eligible:

(claimable from Sep 2, 2022)

Pika applied to receive a grant from Optimism in the form of $OP.

This application was accepted and the vote passed in Snapshot, so Optimism sent them 900,000 $OP tokens, almost 1,000,000 USD
In three days, Pika is distributing a portion of the 900,000 $OP they received to people who traded in the protocol before July 16, 22.

How are the 900,000 $OP tokens being distributed?

• 150,000 for traders
• 600,000 for LPs
• 150,000 for grants
Read 9 tweets
Aug 29

5 days ago, @zerion_io published a new post: "Another Step Towards Decentralized Future"

In DeFi, usually decentralization > governance > community-owned tokens

What we know about $ZER so far, and how to maximize airdrop chances with on-chain interactions 🪂

Thread 🧵
A reminder that this is all speculation, and nothing is confirmed unless I directly quote an official source / screenshot / tweet.

Zerion has been hinting a decentralized future for some time.

Recently they introduced a 0.5% fee for swaps made using Zerion Swap
So far, Zerion Treasury has amassed 125,000 USD swap fees. They sit on their multisigs:……

Today, they activated swap fees for Ethereum too - and that's their main source of volume. We should see treasury value significantly raise
Read 12 tweets
Aug 27

@arbitrum recently published a series of on-chain quests.

I think this is currently the best chance of getting an $ARBI airdrop, besides the Odyssey, which is coming soon

A thread: how to prepare 🧵

Let's start with the updates for Arbitrum Odyssey

There's still no official date for the Odyssey to resume.

However, we know Arbitrum Nitro is coming next week (31/8), and Odyssey resumes shortly after.

Nitro will be a new version of Arbitrum, faster and more efficient

To recap, these are the NFTs for Arbitrum Odyssey so far

Week 1:

• NFT #1 (Enter The Odyssey):…. Still claimable. NFTs Minted: 291,000

• NFT #2 (most used bridge): For the people that used @HopProtocol on week 1. Not available yet.
Read 12 tweets
Aug 24
DogeChain $DC airdrop confirmed 🪂

I'm not a big fan of this meme chain, but if you interacted between (01 Aug 22 - 23 Aug 22), then you have a retroactive airdrop ready in 12 hours

You only have 5 days to claim, then it's lost

Check if you can claim here 🧵

Devs launched ( 10 days ago: 14M TVL

It links the real $DOGE with Web3 using Polygon technology. The Doge Chain is an EVM compatible blockchain, proof of stake Image

You can bridge your $DOGE by wrapping them: you get $wDOGE on Dogechain


You can add the RPC by connecting your wallet to the bridge page
Read 7 tweets
Aug 18
How to get 500 $APTOS

Aptos is a new L1 blockchain that is launching this year.

Tomorrow, Aug 19, there's an opportunity to participate in what they call an "incentivized testnet"

How does this work? you run a node for 10 days, and then you get 500 $APTOS when they launch.

Aptos is currently on testnet. As opposed to mainnet, it means that it has not fully launched yet.

You can install a wallet and interact with the testnet blockchain, but money/tokens are not real.

If you are unfamiliar with Aptos, here's a thread I made

As part of all of this testing, they are incentivizing node operations.

People can register to run a node (usually in AWS, Azure, etc)

Two "Aptos Incentivized Testnet" rounds have already been done, this is AIT-3.

Registrations open tomorrow, Aug 19. Not everyone enters
Read 6 tweets
Aug 18
$SAFE airdrop confirmed 🪂

25 minutes ago @gnosisSafe published the eligible wallet address list.

50M tokes airdropped (5%). Half available right now, half vested for 4 years.

Check if you are eligible: Image
Snapshot date: Feb 9 2022

A summary of who is eligible:

• Multisig wallets who had a balance > 10 ETH or made two transactions
• ⅔ of SAFE are distributed relative to their share of ETH spent on txs fees
• ⅓ of SAFE are distributed relative to ETH stored over time on Safe
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!