The search for lucrative crypto investments has led one on-chain lending project to consider utilizing its treasury in airdrop farming, a popular activity among trading enthusiasts.
JPEG’d DAO, the governing body overseeing an Ethereum-based lending platform that accepts NFTs as collateral, has initiated discussions on potentially deploying up to 50% of its ether (ETH) treasury towards “airdrop farming strategies.”
If approved, PIP-85 could result in JPEG’d DAO using close to million worth of ETH tokens on EigenLayer and Blast, two prominent platforms for airdrop hunters within the Ethereum ecosystem. These protocols are anticipated to reward users with valuable tokens in the future, attracting significant crypto capital, including funds from airdrop farmers.
“The DAO has a substantial treasury and opportunities to strengthen it with minimal risk,” stated JPEG’d contributor 0xTutti.
Overall, the move towards airdrop farming reflects the ongoing trend of seeking high-yield opportunities within the crypto space, highlighting the dynamic and ever-evolving nature of digital asset investments.
