🇺🇸 Trump launches MORE NFTs

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Good Morning!

The best time to start farming airdrops was in the depths of the bear market, the second best time is today. That’s why, every Wednesday for the foreseeable future, we’ll be giving you an actionable guide on how to farm a future airdrop.

We saw the JITO minimum airdrop reach peaks of over $20,000 at the weekend, so we recommend you pay attention. 👀 

Before we dive in, a poll!

Airdrop Wednesday 🪂 

In today’s Airdrop Wednesday, we’re going to be taking a look at BASE, an Ethereum layer 2 created by Coinbase and known for it’s incredibly cheap fees.

So, why BASE? Whilst the team don’t currently have plans to tokenize, we still think that it’s likely in 2024. Combining Coinbase’s continual support & many people overlooking the opportunity of a token, we think it’s a great one to farm.

One thing that’s nice about transactions on BASE is that they’re incredibly cheap, we’re talking fractions of a cent.

When farming a layer 2 airdrop, to appear active, you should ensure that you spread your usage out over a couple of months. You don’t have to interact too frequently but usage in multiple months has often been a criteria for previous airdrops.

Let’s dive in 👇️ 

To start, you’ll want an Ethereum wallet like metamask, if you need to buy ETH on an exchange, we recommend Kraken. Once you have ETH, here’s what you should do.

• Bridge ETH to Base

  • We’d recommend the official bridge at least for your first transaction, fees will be slightly higher bridging from ETH vs a Layer 2, but it’s nice to use the official bridge and might act as a multiplier. https://bridge.base.org/deposit

  • Once you’ve used the official bridge, if you want to bridge in the future you can use a cheaper L2 bridge like Debridge (also likely to airdrop one day).

• Mint a cheap NFT

  • Next you’ll want to mint an NFT on Zonic. You can pick a cheap collection (these should cost around $0.30). This will give you a nice unique BASE smart contract interaction.

• Swap Coins

  • You want to use a variety of DEXs to push some volume through BASE. You can swap your ETH → USDC, USDC → USDT etc. This way you’re not exposing yourself to price movements in any other coins and you’ll only pay the small gas fees ($0.10~)

  • Some recommended DEXs for you to use include:

    • Jumper (personal favourite).

    • Uniswap

    • Odos

• Provide Liquidity

  • Providing liquidity is also a great way to prove that you’re contributing to an ecosystem. This step is optional.

  • Stargate is a great place to provide liquidity as it also may help with becoming eligible for a future Layer Zero airdrop.

Let us know what airdrop we should cover next! 👀 

Markets

Warren’s Crypto Bill Is Likely Unconstitutional. It’s Also Unlikely to Pass (5 minute read)
On Monday, five Democratic lawmakers collaborated to endorse the "Digital Asset Anti-Money Laundering Act," which, if approved, would expand Bank Secrecy Act requirements, including know-your-customer (KYC) rules, to encompass miners, validators, wallet providers, and other participants in the cryptocurrency industry. This legislative proposal holds significance as the committee overseeing it wields substantial influence in the Senate, shaping regulations for one of the largest U.S. economic sectors and impacting the legislative agenda for the upcoming year.

Despite its potential impact, the current form of Warren's bill faces obstacles to passage, reflecting broader challenges in U.S. governance such as partisan politics, internal conflicts, and legislative gridlock. This situation, while contentious, is viewed positively by many in the crypto industry, as numerous leaders have expressed strong opposition to the bill. Critics argue that, despite well-intentioned aims, the anti-money laundering act raises concerns due to certain troubling conditions associated with its implementation.

Solana whale briefly sends mSOL plummeting by selling more than $5 million of token (2 minute read)
In a span of less than 30 minutes, the value of Marinade Finance's Solana-based liquid staking derivative, mSOL, experienced a significant drop on Tuesday. The mSOL token plummeted to below $67 at 12:35 p.m. ET, sharply declining from its recent trading level of around $77, as reported by The Block price data. Subsequently, mSOL saw an 18% decline before swiftly rebounding, reclaiming a value above $77 by 1:57 p.m. ET. Data suggests that a whale played a role in triggering this sharp downturn by executing a swap of over $5 million worth of the mSOL derivative for SOL.

Misc

Coinbase uses Base to build digital asset platform for TradFi institutions (2 minute read)
Coinbase, in collaboration with its asset management division, has introduced Project Diamond, a smart contract platform designed to facilitate institutional trading and the creation of new digital assets. The platform aims to enable institutions to manage digital assets "directly on-chain," utilizing both Base, Coinbase's layer-2 blockchain, and the company's comprehensive technology stack, including Coinbase Prime, Web3 Wallet, and USDC.

This platform is accessible exclusively to institutions located outside the United States. Managed by Coinbase Asset Management, the initiative builds upon the success of Base, which was officially launched in August following its initial unveiling in February; developers gained access to Base in July.

What is a Layer-0 Blockchain? (7 minute read)
Within the realm of blockchains, commonly recognized layer-1s like Bitcoin and Ethereum coexist with a growing array of layers within decentralized ecosystems. While layer-1s served as the initial foundation, necessitating subsequent layer-2 chains for scalability, the emergence of layer-3 blockchains introduced spaces for DApps and specialized projects.

Notably, the innovative layer-0 blockchain represents a departure from this hierarchical structure, akin to the Zeroth law of Thermodynamics, asserting its fundamental existence even before the establishment of layer-1 chains. This distinctive layer-0 introduces a novel dimension of innovation to the blockchain space.

Donald Trump Is Selling More NFTs—And the Original Sets Are Crashing Again (3 minute read)
Around this time last year, former United States President Donald Trump ventured into the world of NFTs by releasing his initial set of digital trading cards, an endeavor met with both excitement and ridicule but ultimately resulting in substantial sales.

Now, after a subsequent release last spring, Trump is back with his most extensive collection of NFTs to date, titled the Trump Digital Trading Cards: MugShot Edition. This collection comprises 100,000 NFT collectibles minted on Polygon, an Ethereum scaling network, each priced at $99. Notably, the first set comprised 45,000 NFTs, and the second set, 47,000. However, the reception from the market seems lukewarm, prompting questions about whether his fan base will invest further. The second release in April led to a significant drop in the secondary market value of the original NFTs, with prices plunging over 50% within hours and ultimately settling at a fraction of the initial high starting price of $1,079.

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