Mainnet Guide - LSDFi Projects
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TLDR: Mainnet, Potential Airdrop
Introduction
Liquid staking derivatives (LSDs) like $stETH, $rETH have exploded in usage after the Shapella upgrade. This has given birth to a new DeFi trend, LSDFi, which uses the liquidity of LSD tokens to achieve higher yields.
Today, we’re introducing a few LSDFi projects that don’t have a token. Engage with them for a potential airdrop.
Rule
As always, the most effective method to receive airdrops is through organic interaction with the protocol.
Most of the projects (except EigenLayer) below are CDP protocols with LSDs as collateral, i.e. you mint stablecoins using stETH or rETH as collateral. These projects have a high minimum deposit of around ~$3000. If you are interested and would like a lower deposit amount, wait for them to launch on L2s.
Guide
EigenLayer (Twitter: https://twitter.com/eigenlayer)
Eigenlayer enables users to restake LSDs to validate and secure other networks including sidechains or non-EVM blockchains for extra fees. They raised a total of $64.5 million at a valuation of $500 million.
As of now, you can’t deposit anymore as they‘ve hit their deposit limit of 45000 LSDs. Wait for them to increase the limit further.
Raft (Twitter: https://twitter.com/raft_fi)
Mint $R by depositing $stETH, $wstETH and $rETH as collateral. Minimum mint is 3000 $R.
Current TVL is at $55 million. Raft has received support from institutions such as Lemniscap, Wintermute, and GSR. They are also clear about launching a governance token in the future.
Gravita (Twitter: https://twitter.com/GravitaProtocol)
https://www.gravitaprotocol.com/
Supports $stETH, $wstETH, $rETH and $bLUSD as collateral to mint $GRAI. Minimum mint is a bit lower at $2000 here.
Current TVL is at $23 million. Similar to Raft, they are clear about having an governance token in the future.
Prisma Finance (Twitter: https://twitter.com/PrismaFi)
https://www.prismafinance.com/
Backed by the Curve ecosystem. They are yet to launch so stay tuned about them.
That’s all for the guide. Happy hunting airdrops.