Recently, the airdrop activity of Starknet has allowed many people to once again catch a glimpse of great wealth. However, many users have regretfully missed this opportunity because they did not have enough funds in their wallets. Of course, from the airdrop activity to now, it is actually very difficult for many users to achieve a proportional return on investment, as the uncertainty of the airdrop conditions is particularly high. It is often easy to miss an opportunity just because one small condition is not met after working hard for half a year, and with various costs, there is also a certain probability of being "anti-airdropped".
Because of this, more and more people have started to turn their attention to transparent airdrop incentive activities, because the conditions for such airdrop activities are certain, so participants can also obtain a certain return. At the beginning of this month, Lista DAO (formerly Helio Protocol) on the BNB Chain released a series of transparent airdrop activities, which are not considered too excessive at the moment.
Lista DAO has received a $10 million investment from Binance Labs and belongs to a native decentralized stablecoin and liquidity staking project on the BNB Chain, and it has received support from Binance Labs. Judging from the performance of previous projects invested by Binance Labs, the expectations for this airdrop activity are high, and it is particularly worth participating in because it is a transparent airdrop.
Details of the Lista DAO Airdrop
Helio Protocol is the largest decentralized stablecoin protocol on the BNB Chain. The project merged strategically with Synclub in July 2023 and announced an upgrade and renaming to Lista DAO in December 2023. Recently, Lista DAO announced its own airdrop incentive activity, where users can earn points by interacting with officially designated projects and receive airdrops of $LISTA tokens based on these points.
This activity is divided into multiple seasons, with the first season running from February 5th to February 29th, 23:59 (UTC+0), and the second season will follow shortly after, with 2% of the total tokens being distributed. During the activity, users can participate in 6 types of tasks to collect stardust points, including:
- Providing TVL on Lista (20% weight)
- Borrowing lisUSD on Lista (5% weight)
- Depositing BNB on Synclub and minting slisBNB (40% weight)
- Providing lisUSD (15% weight)
- Providing liquidity for the slisBNB pool (20% weight)
- Generating trading volume for lisUSD and slisBNB, including Pancakeswap, Wombat Exchange, APX V2, and Thena Finance. Users can earn 1 stardust for every $1 of trading volume generated, with a total allocation of 0.2%. On APX, users need to deposit lisUSD as collateral to participate in trading and generate eligible trading volume.
From the above rules, it can be seen that the first 5 interactions require a relatively large amount of funds and time, which is not friendly to ordinary users, except for those with sufficient funds. Therefore, the 6th task is relatively more cost-effective and suitable for accumulating points through trading.
APX has the highest cost-effectiveness
APX V2 is a decentralized contract futures platform that can generate more trading volume in a short period of time, with higher efficiency, lower transaction fees, and virtually zero slippage. Pancakeswap, Wombat Exchange, and Thena Finance are spot DEXs with lower trading efficiency, higher transaction fees, and more slippage. Compared to them, using APX for trading is the most suitable option. In extreme cases, using 1001x leverage, $100 can generate a trading volume of $100,000 in one go, which is very efficient. In addition, with the convenience of futures contracts, it is easy to hedge long and short positions, resulting in lower costs. Therefore, focusing on trading with APX V2 is a good way to participate in the Lista airdrop activity.
If Lista starts with an 8% initial circulation and based on the scale of a $10 million project financing, a conservative initial circulation of $50 million is not excessive. The amount of Lista tokens airdropped through APX is close to 0.2% (APX has much higher trading volume efficiency compared to other projects), which is equivalent to nearly $1 million in tokens being airdropped through APX. This incentive amount is quite competitive.
Some people may think that contract trading carries a high risk. In fact, for trading volume accumulation, as long as we don't hold positions for too long and use long and short hedging strategies, the risk can be controlled very low. The main cost is the fees charged by APX, so overall, using APX to accumulate Lista DAO points through trading has certain advantages. If you are not familiar with leveraged trading, you can start with a small amount, understand the profit and loss and risks, and then increase the amount.
Airdrop Tutorial
1. Obtain $lisUSD
There are several ways to obtain $lisUSD. For example, we can stake BNB in Lista DAO and borrow $lisUSD, or purchase it on Pancakeswap. Here, it is recommended to use stablecoins for purchases on Pancakeswap, mainly because of the higher utilization of funds. If staking is chosen, we also need to pay attention to the collateralization ratio and the price volatility of BNB. Under normal circumstances, it is preferable to directly purchase on Pancakeswap.
lisUSD contract:
0x0782b6d8c4551B9760e74c0545a9bCD90bdc41E5
2. Opening a Position
Open the website:
https://www.apollox.finance/en/futures/v2/
Log in with the Metamask wallet, select the BNB Chain network, and then choose the trading pair you want to trade. Set the corresponding parameters for opening a position, including principal, leverage ratio, take profit and stop loss levels, slippage, and mode (Dumb mode, Degen mode, or the classic mode without selecting either).
In the classic mode, we need to set the take profit and stop loss levels and leverage ratio, similar to opening a position on a normal exchange. We mainly use the classic mode for trading.
The Degen mode allows for higher leverage ratios, up to 1001x, as well as zero slippage trading and lower transaction fees. It is mainly used to set the appropriate entry price and leverage ratio and set the take profit level.
In the Dumb mode, we mainly focus on setting the expiration time after opening a position. The position will be automatically closed and settled when the time is up. A 6% fee will be charged in the event of a win (greater than the opening price), and all principal will be lost in the event of a loss (less than or equal to the opening price).
The calculation in the Dumb mode is a bit more complicated, so let's give a simple example:
For example, if we choose to open a long position on BTC at a price of $51,537.5 with an expiration time of 5 minutes, if the price is higher than $51,537.5 at the end of 5 minutes, we can earn an 80% profit and a 6% fee will be charged. If the price is lower than or equal to $51,537.5, we will lose all the principal.
3. Closing a Position
To close a position, simply select "Close" in the position column.
After opening a position, you can close it after a few minutes and repeat the process. It is worth noting that when opening the website, we need to make sure that we are operating on APX V2. There are no rewards for V1. When operating, we need to change the invested funds to lisUSD or other coins. Trading with USDT will not receive rewards.
The position fees for opening and closing positions on the BNB Chain are 0.08% for cryptocurrencies and 0.02% for forex. There is an execution fee of $0.5 when opening a position, so for each trade, we will be charged 0.08% + 0.08% + $0.5.
Tips for accumulating points:
Overall, for this incentive task, the Dumb mode has a relatively higher risk rate, so it is not suitable for our purpose of accumulating trading volume. The Degen mode has a higher leverage ratio, so the risk rate is also higher and can be considered if you have a higher risk preference. It is recommended to prioritize the classic mode. Users with a higher risk preference can consider the Degen mode, but the Dumb mode should not be considered.
You can prepare two wallet accounts, one for long positions and one for short positions to hedge risks. The leverage ratio in the classic mode is relatively low, and setting take profit and stop loss levels can facilitate holding positions. The holding time can be 5 minutes or slightly longer to reduce the probability of liquidation. You can also use the method of futures and spot hedging, which means shorting contracts on APX V2 and buying corresponding leveraged tokens with lisUSD on Pancakeswap.
Do not pursue excessively high leverage ratios. Generally, leverage ratios of 3-10x are sufficient. High leverage ratios must be hedged, and opening positions should be done when the market is stable. Also, do not hold positions for a long time. Using the Degen mode can achieve higher leverage ratios, but we need to pay attention to price fluctuations. Generally, consider trading tokens like BTC or ETH that have smaller price fluctuations. In the classic mode, additional margin can be added, but in the Degen mode, additional margin cannot be added.
Forex trading (similar to stablecoin exchange) is also supported on APX V2, such as EUR/USD, JPY/USD, AUD/USD, and other currency pairs with relatively low volatility. Consider increasing the leverage ratio and prioritize trading in this category.
However, the forex market is not open 24/7. The specific trading hours are open all day from Monday to Thursday, closed at 23:00 (UTC+0) on Friday and Sunday, and closed all day on Saturday. We can select forex in the trading pair column, and currently, due to low volatility, it is worth considering trading.
About APX
APX (apollox.finance) is a multi-chain decentralized derivatives DEX. APX received investment from Binance Labs in 2022 and supports BNB Chain, Arbitrum, opBNB, zksync, Manta Network, and Base Chain, among others. As of now, APX has a TVL of over $45 million and nearly 180,000 users.
The main advantages of APX that attract users are as follows:
- Classic perpetual contracts can reach up to 250x leverage, and Degen mode can provide leverage of up to 1001x.
- Low slippage, with slippage as low as 0.01%, and zero slippage in V2 Degen mode.
- High trading performance, used by more than 30 partners including Pancakeswap.
- Position isolation, if one position is closed, it will not affect other positions.
Currently, APX is the largest decentralized derivatives exchange on the BNB Chain. Trading assets on APX are relatively secure. With the support of Binance Labs, it naturally attracts more attention, which is another major factor in attracting users to APX.
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