The hunt for excessive-yield crypto investments has induced one on-chain lending project to bear in mind deploying its treasury in airdrop farming, a authorized hobby for so much of shopping and selling degens.
JPEG’d DAO, the governance neighborhood that runs the Ethereum-basically based lending platform that accepts NFTs as collateral, on Monday began voting on a proposal to deploy up to 50% of its ether (ETH) treasury to “airdrop farming strategies.”
So-called PIP-85 may maybe well most likely peep JPEG’d DAO exercise practically $19 million worth of ETH tokens on EigenLayer and Blast, two of potentially the most traditional spots for airdrop hunters in the Ethereum ecosystem factual now. Each and every protocols are expected to reward their customers with potentially precious tokens in the long traipse. That expectation has induced billions of bucks of crypto capital – noteworthy of which is from airdrop farmers – to circulation into their protocols.
“The DAO is sitting on a wholesome treasury and there are chances to solidify the treasury at low probability,” pseudonymous JPEG’d contributor 0xTutti knowledgeable CoinDesk.
