The $S airdrop is upon us. They've been teasing the airdrop claim for a minute while sybil checking, but it's finally here
I left 100k USDC to sit on @aave on Sonic for the past ~5 months, farming about ~6% APR in weekly $S incentives, plus these Sonic points
Let's calc...
Sonic getting a lil' cheeky here snubbing probably a large chunk of the userbase, denying airdrop to all who accumulated less than 200 $S worth of points
No bueno imho
Secondly, this is no simple claim, let's take a look:
Points, Gems, moar Gems, NFT wrappers!
Congrats! My passive liquidity, which didn't help the chain meaningfully, earned me 4.2k $S. But, wait...
25% is instantly claimable, 75% via NFT wrapper that unlocks more over a 270-day period. I get it. Avoid a max instant dump of $S by limiting hour 0 / day 0 / month 0 full selling.
The NFT tech is pretty smart, ideally the staunched supporters can use the next half year to buy $S at a discount from others and absorb sell pressure from mercenaries. Good in theory, and honestly cool that they've covered it themselves instead of leaving to native DeFi to wrap.
100k USDC, only tapping Aave
Est. ~5 months
Were these points liquid and realized at today's $0.31/1 $S, the Sonic Points dished me out +3% APR on top of the other liquid 6-7% combo APR for a total of...
~10% APR
Through the lens of Aave, this beat out all other USDC markets
4.81K
3
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