Why are Cosmos Tokens Pumping?
Certain Cosmos tokens are pumping hard, busy at work retracing the pain of yesterday’s drop: Celestia has ripped 65% off its local bottom, Injective has gained 30% and Osmosis is up 20%. What is contributing to the pump, and how can you capitalize on the opportunity?
Staking tokens to secure any chain is a low-effort, generalized route to qualify for an airdrop. With numerous protocols having airdropped tokens to stakers in recent weeks, this strategy has gained traction on CT as one of the best ways to hunt airdrops!
4/ $TIA Community Overview! 🌐
— Saga ⛋ (@Sagaxyz__) January 4, 2024
Saga extends gratitude to the @CelestiaOrg community, one of our earliest partners and most visionary teams in all of crypto!
🔄 Methodology: Categorized airdrops into small, medium and large with a 5x multiplier. Bonus (4x) for exceptional… pic.twitter.com/GApdSZg6cO
These popular Cosmos tokens have experienced a surge in demand as users have awoken to the fact that staking them could translate to additional yield in the form of airdrops.
To hunt these airdrops without exposing yourself to losses from a potential decrease in the prices of the tokens that you are staking, it is possible to adopt a delta neutral strategy, in which you hold spot tokens and short perps equivalent to your amount of spot exposure.
Taking a delta neutral approach to airdrop hunting will position you to receive future airdrops while locking in the current price of your asset and allowing you to earn yield from both staking the spot asset and the funding basis on the perpetual position.
Check back Monday for a guide on how to stake Cosmos assets, like TIA!
Delta neutral ATOM, INJ and TIA airdrop farming
— Thor⚡️Hartvigsen (@ThorHartvigsen) January 4, 2024
I built a calculator to show it's possible to farm Cosmos eco airdrops without any price exposure (delta neutral).
+ getting paid $$$ in funding and staking APY
35% and 68% APY for $TIA and $INJ respectively.
A smol thread 1/ pic.twitter.com/sIytQk86h5