5 Investing Opps to Be Thankful for

Farming opportunities poised for bountiful harvests
Nov 22, 20233 min read

As we settle in for Thanksgiving here at Bankless, we're preparing to update our families on how crypto has been, and oh baby, we're so back! Binance has been de-risked, spot crypto ETFs are around the corner, and opportunities remain abundant in crypto.

Today, we're sharing our top five crypto *opportunity* farms that seem bound to deliver significant returns! 

Explore them over the extended weekend and use them as examples when your inquisitorial uncle questions what you can actually do with crypto.

🐄 Farm Soul-Nourishing Umami Yields

Thanks to the Arbitrum Short Term Incentives Program (STIP), Umami APRs are well into the triple digits; get these juicy yields while they still last!

Umami extracts yield from GMX's liquidity share, GLP, while allowing yield farmers to target their exposure to just one of the assets in the GLP basket. Umami uses internal netting of PnL between vaults to vastly reduce the cost of this delta hedging activity, but also hedges via external venues when necessary.

GMX and Umami have received grants from Arbitrum's Short Term Incentives Program (STIP), meaning that liquidity providers on Umami can now enjoy hefty ARB incentives from two sources! Yield is distributed via oARB, which can be redeemed for ARB after being paired up with additional ARB and locked for a period of time, with a progressive discount to the amount of ARB you must lock applied for extending the lock period.

Maximize this opportunity by:

🪙 Farm Yields from Prisma

Prisma Finance is a Liquity fork with deposit incentives so sweet that even Justin Sun has deposited! The protocol makes full use of token incentives to incentivize deposits and allows you to earn PRISMA token emissions in three ways.

Users can deposit allowlisted LSTs (wstETH, rETH, cbETH, or sfrxETH) to Prisma Finance and mint mkUSD stablecoins to earn PRISMA token rewards. They can then use their mkUSD to farm various highly profitable yield opportunities, which are also incentivized by PRISMA token emissions. Locking PRISMA will boost the yields that you earn!

Maximize this opportunity by:

🔗 Loop jitoSOL on marginfi

While the exact value you stand to receive by hunting airdrops is always unknown, chasing after cornerstone opportunities is one way to set yourself up for success. This strategy allows you to hunt Solana's two largest airdrop opportunities by TVL at the same time.

Jito is the largest tokenless liquid staking protocol on Solana, and marginfi is Solana's largest tokenless lending platform; combine them, and you get the ultimate Solana airdrop strategy!

This strategy works to maximize your Jito and marginfi airdrop opportunity by increasing the amount of jitoSOL your wallet controls in DeFi and increasing your outstanding lends and borrows with marginfi, allowing you to accumulate more points from both protocols.

Maximize this opportunity by:

🤝 Lend to Dolomite

Dolomite is the second Arbitrum STIP recipient on this list. They're an Arbitrum-based lending protocol specializing in markets for the chain's longtail assets! Use exotic assets like plvGLP and jUSDC as collateral to borrow Arbitrum-native tokens, like GRAIL and MAGIC.

With ARB incentives to boot, Dolomite is now offering oARB incentives on a variety of assets! As with Umami's oARB program, to claim the underlying ARB, you must pair your reward tokens with additional ARB and lock them for a period of time, with a progressive discount to the amount of ARB you must lock applied for extending the lock period.

Maximize this opportunity by:

🔴 Provide Liquidity on Trader Joe

Long a staple of the Avalanche ecosystem, Trader Joe has gone multichain. In addition to being deployed on BNB and Ethereum, the DEX is also on Arbitrum, and this deployment positioned it to receive an Arbitrum STIP grant.

While some of the pools, like Trader Joe's ETH-USDC pool, have simply seen massive volumes and are organically producing triple-digit APRs, others are subsidized by ARB incentives to achieve equally high (if not higher) APRs!

Maximize this opportunity by:

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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