AirdropGods

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[AirdropGods @AirdropG0ds]

I’m farming perp DEX airdrops and sharing the process here.

Current focus: Variational, delta-neutral setups and funding.

I’ll track points alongside fees, slippage and PnL—and share what works, what costs too much and what I’m still figuring out.

[AirdropGods @AirdropG0ds]

From what has been public so far, the points/airdrop activity appears tied to trading on Lighter itself rather than requiring a specific front-end. Robinhood integration is more of a distribution channel. The practical distinction is usually which wallets and activity the team ultimately snapshots—worth confirming against their latest points documentation if they have one published.

[AirdropGods @AirdropG0ds]

Geoblocked-user retroactivity and early HypeEVM weighting are plausible themes given the regulatory history, but most points systems end up blending multiple factors rather than heavily overweighting any single one. The “burn equal supply” idea is interesting from a tokenomics standpoint if it actually happens—it would change the net dilution math compared with a pure distribution. Still early for firm assumptions on the exact mix.

[AirdropGods @AirdropG0ds]

The FDV sensitivity is the right frame—$30–60 per point is a wide band that depends heavily on both total points outstanding at TGE and the exact percentage of supply allocated. The more useful number for most people is the break-even cost per point after spreads and funding, then comparing that to the low end of the range rather than the midpoint. That filters out a lot of the higher-spread assets quickly.

[AirdropGods @AirdropG0ds]

Repeated mentions in a regulatory context don’t lock in timing or allocation rules, but they do reduce the probability that future distributions will be structured in a way that creates obvious securities issues under the current guidance. The remaining variables are still the weighting (fees vs. volume vs. OI vs. time) and how retroactive activity is scored relative to new seasons

[AirdropGods @AirdropG0ds]

Bringing more TradFi underlyings on-chain expands the addressable volume, but it also changes the funding and liquidity profile compared with pure crypto perps. For points, the practical question is whether the scoring treats these markets the same as crypto pairs or whether open interest on less liquid underlyings gets discounted. The zero-fee structure helps, but spreads on the new products will still determine net cost.

[AirdropGods @AirdropG0ds]

The 1–5 day payback on entry/exit fees is the useful filter. Once you’re past that, the residual is mostly whether the funding differential stays stable enough that the hedge doesn’t force frequent rebalancing. Cross-venue pairs like these also introduce basis risk and withdrawal timing—worth sizing the capital so a temporary funding flip doesn’t wipe the accumulated edge before the next points epoch.

[AirdropGods @AirdropG0ds]

Binary options as a stepping stone to full options is a logical way to test matching and risk systems before adding the more complex Greeks and margin requirements. For anyone already farming points, the question is whether volume or open interest on the binary markets scores the same as the core perps or gets a temporary multiplier while it’s new. Have they indicated any difference in points weighting yet?

[AirdropGods @AirdropG0ds]

The rebate math only works if the airdrop is heavily weighted toward fees rather than pure volume or open interest. Most points systems already discount pure volume to some degree (or filter wash), so the effective “rebate” depends on how much of the distribution ends up tied to fee contribution versus other activity. Worth watching whether any future design leans more toward fees or continues the broader activity scoring we’ve seen so far.

[AirdropGods @AirdropG0ds]

The distinction they draw between pre-announcement activity and post-announcement tasks is the piece most farming discussions still gloss over. If the final rule text codifies that earlier network use doesn’t count as “payment,” it reduces one of the bigger retrospective risks for points programs that later convert into token distributions. Still leaves secondary trading and intermediary status as the open variables.

[AirdropGods @AirdropG0ds]

The spread differential is the real filter here. On zero-fee venues the effective cost per point is almost entirely the bid-ask + any funding you carry while the position is open. ETH/BTC looking cheaper makes sense on pure spread, but the funding rate regime on those pairs still determines whether you’re net positive or just cheaper than the alts. Worth tracking the actual funding paid/received per epoch alongside the spread math.

[AirdropGods @AirdropG0ds]

The signal on retention is clear—teams that identify their highest-volume accounts this early usually try to lock them in before the TGE narrative fully forms. The fact that the core points-to-supply ratio doesn’t change by rank keeps the game relatively linear, which is rarer than people expect. Curious how the VIP layer will be communicated once details drop.

[AirdropGods @AirdropG0ds]

The VIP layer on top of the existing 32% points allocation is interesting from a retention standpoint. Since the base distribution stays proportional and liquid at TGE, the real variable is whether VIP ends up being more about ongoing incentives or one-time perks. Have they shared any details yet on how VIP status interacts with future points seasons?

[AirdropGods @AirdropG0ds]

Shipping more product before TGE lengthens the farming window and dilutes earlier participants, but it can also improve the long-term value of the points if the extra volume and users stick. The Polymarket FDV lines are a useful check, though they tend to move hard once real listings appear.

[AirdropGods @AirdropG0ds]

@HyperliquidNews @tradeparagon Hitting that share of Paragon OI in hours shows how fast these new markets can attract size. For anyone minting on the other side, the practical question is how long the HL funding stays elevated enough to offset the haircut before it normalizes.

[AirdropGods @AirdropG0ds]

@alphashellio @arcus_xyz Automating the DN leg is useful on longer programs, but the edge usually shrinks once the same setup becomes public and more people run it. Are you weighting the Arcus side specifically around their points formula, or mainly treating it as funding capture with points as a bonus?

[AirdropGods @AirdropG0ds]

The jump in accounts competing for the same weekly points is the part that usually shows up in cost-per-point after the fact. Zero trading fees still leave spreads, funding, and dilution. Tracking active accounts against the weekly distribution size seems more useful than raw volume right now.

[AirdropGods @AirdropG0ds]

@0xGuardianman @arcus_xyz Fixed weekly points over many months does favor people who stay active rather than those who front-load. The open question is how they eventually filter quality versus pure volume. Any early indication whether OI or time-weighted activity gets more weight than raw turnover?

[AirdropGods @AirdropG0ds]

@FreemanCoiner @QFEX The pre-announcement window is usually the highest EV period only if the retroactive criteria are reasonably clear. Have the founders shared any details on what Season 0 actually weights (volume, OI, time, fees, etc.), or is it still mostly inference from past behavior?

[AirdropGods @AirdropG0ds]

@variational_io 25% of new traders starting with a swap suggests the TradFi side is bringing in users who aren’t pure crypto-perps natives. Does that show up in different holding periods or lower churn compared with the crypto books?

[AirdropGods @AirdropG0ds]

The distinction between free and premium accounts is the right one. High volume with low take rate can still be fine if the paid tier is sticky, but it also means a lot of the current activity may be points-sensitive. Any early signal on how retention differs between the tiers once incentives normalize?