Author: The DeFi Investor
Compiled by: TechFlow
Today we will discuss the following:
10 crypto stories to watch this week
2 airdrop opportunities
let's start!
Crypto events worth watching this week
Spot ETH ETF Listing - The spot ETH ETF is expected to receive final approval from the U.S. Securities and Exchange Commission (SEC) this week. This means that the ETH ETF may start trading this weekend.
Big announcement for Eclipse - Eclipse , the first Ethereum layer 2 network (L2) powered by the Solana VM, is rumored to announce its launch date this week.
Sanctum Token Listing - The token of Sanctum , the largest tokenless Solana protocol, will be listed on the Jupiter launchpad on July 16. Sanctum allows anyone to create SOL liquid staking tokens.
Trader Joe V3 Launched - According to the team, the Trader Joe V3 DEX is coming soon. It brings significant improvements over its previous version, making it one of the most capital efficient DEXs.
Cosmos v18 Upgrade - The upgrade will go live on July 17. This will increase the utility of the ATOM token by allowing the Cosmos Hub governance to decide which CosmWasm contracts can be deployed on Cosmos and which cannot.
XDEFI Wallet Rebranding Revealed - XDEFI Wallet is expected to announce a major rebrand this week. The wallet will also undergo an overhaul of the user interface.
Macro Events - A speech by Federal Reserve Chairman Jerome Powell is scheduled for July 15. His remarks could have a significant impact on the market.
Radiant deploys on Base - Radiant will be launched on Base this month. It will bring segregated lending and allow markets to be created for any memecoin.
ARB Token Unlock - $68 million worth of ARB tokens will be unlocked on July 16th. All of them will be distributed to the team, advisors, and investors. This represents 3% of its circulating supply.
Chromia MVP Mainnet Launch - Chromia , the first blockchain with a relational database, will launch its mainnet on July 16.
This week's airdrop opportunities
Borrow USDC with WBTC as collateral and deposit in Elixir
Fluid is the most capital-efficient money market on Ethereum, while Elixir is a token-free network designed to provide order book liquidity.
If you hold WBTC, this is currently the best way to put it to use.
The wBTC market recently went live on Fluid, and you can get paid by borrowing incentives allocated to the wBTC market.
Here are some great ways to take advantage of this opportunity:
Create a WBTC/USDC vault position on Fluid
Deposit WBTC into it
Borrow USDC against it (max loan-to-value is 80%, but I recommend borrowing around 40-45% of LTV to avoid liquidation)
Go to Elixir's Apothecary page
Click “mint elxETH” → Click “Or, supply USDC to native integrations” → Then supply USDC to one of the DEX pairs on that page
With this strategy, you can earn the yield of Fluid by borrowing USDC while getting the airdrop of Elixir.
Exchange ETH for mETH and deposit into Karak
mETH is Mantle L2's ETH liquid staking token.
Mantle’s “ Project Metamorphosis ” Season 1 recently launched, and by holding mETH and using it in DeFi, you’ll earn Powder points.
Powder can be converted to $COOK, the future governance token of the Mantle liquid staking protocol. Regarding Karak, it is a popular re-staking protocol.
Here’s how to get both Mantle’s $COOK and Karak airdrops:
Bridge ETH to Mantle L2 (you can use Stargate for bridging)
Exchange ETH for mETH on Merchant Moe
Go to Mantle's Metamorphosis event page
Click “Show more” under Mantle → Click “Deposit mETH in Karak”
Deposit mETH into Karak
