Thread by @FastLife

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 :

https://twitter.com/Contango_xyz/status/1648985208576696321?s=20

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 🫡

https://twitter.com/0xFastLife/status/1663199031429062656