🧑‍🌾 Farming Rollups

Hey there 👋,

Over the last week I’ve been focussing on farming Ethereum L2 rollups, as well as as adding to my Cosmos staking bags, such as Injective where I’m participating in the launch of the $DOJO token.

Cheers!

Richard (@richardpatey)

DAI PICKS

• Bitcoin pumps and dumps after the SEC X account annouces the Bitcoin ETF was approved - was this a hack or a draft post that got scheduled early? (Link)

• Bitcoin ETF “fee war” heats up (Link)

• Valkyrie co-founder: “It wouldn’t surprise me if Ripple has a spot ETF before Ethereum.” (Link)

• Ethereum is up over 7% today despite most of the market down (Link)

• Opensea introduces a self-custodied wallet that can be created with an email address (Link)

FEATURE

Farming Injective & ETH Rollups

I mentioned in the last issue (airdrop season) that I’d been playing with the Cosmos ecosystem for future airdrops.

Cosmos is like a layer zero which people can launch their own L1 chains on. But it’s different to LayerZero which I’ve also been farming for the future airdrop, by moving my Lil Pudgy between chains.

Injective uses the Cosmos SDK to be the fastest L1 blockchain built for finance. It’s an asset management protocol designed to help you achieve superior returns on your digital assets, and it’s backed by Mark Cuban.

Injective is currently ranked #56 on Defi Llama in terms of TVL as it’s new and there are not a huge number of dApps in its ecosystem just yet. The most interesting one to me is DojoSwap, the first AMM Dex on INJ, providing efficient trading and liquidity mining, as well as an incentive to farm with its $POINT tokens.

DojoSwap have a launchpad currently open for the platform’s native token $DOJO (this is the last day to subscribe however) where I have sent $INJ to receive my allocation tomorrow, which I will then stake to earn more. Anand does a good job summarizing the situation here:

Ok, on to to ETH L2s.

I managed to get the Optimism airdrop, but missed out on the Arbitrum one as didn’t make enough unique on-chain transactions (doh).

That’s not going to happen with two that I’m currently farming for their native token to drop, zkSync and Starknet, currently ranked 4th and 7th respectively for TVL:

The first thing to do is bridge your ETH to the chains.

Both Layerswap and Rhino.fi work for both chains, but I chose Orbiter Finance where you can get rewarded with points for their own future airdrop.

I then went to check out the Starknet ecosystem and so far I’ve done swaps on Myswap, and supplied assets to ZKLend and Nostra. I also claimed my Starknet identity/domain on Starknet.ID.

Then on the zkSync ecosystem I’ve so far done swaps on Maverick, Mute, zkSwap and SyncSwap, made trades on Derivio, and bought domains on zkSync Name Service.

There are tools such as NFT Copilot that can help you become a 1% farmer through automating this:

But I’m enjoying using the chains, you spot opportunities you wouldn’t otherwise.

Interested in reaching 4K+ subscribers with your message?

(Or know of a brand who could be a good fit?)

That’s it for this time, happy farming.

Cheers!

Richard (@richardpatey)

Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. There are affiliate/referral links to protocols in this issue, please use them :)