Introduction
2024 is going to be a great year for airdrops. There have already been several lucrative airdrops for users. Still many protocols, such as Parcl, are expected to deliver high profit at the time of writing. In this article I’ll talk about airdrop opportunities on the largest blockchain, Bitcoin. Many DeFi protocols on Bitcoin and Stacks, the largest layer-2 solution on the Bitcoin blockchain, don’t have the token. This is very exciting because most if not all of these projects will have a governance token in the future. By using these protocols not only you’ll earn yield and fees but also you stand a chance to win big from potential airdrops which will likely happen in 2024.
StackingDAO
StackingDAO, a liquid stacking protocol built on Stacks, enables users to earn yield through their stSTX which is a liquid token for stacked STX. Once you stack your STX tokens in StackingDAO, you get stSTX tokens which then can be used to provide liquidity in other Stacks and Bitcoin protocols, such as Bitflow stSTX pool which will increase yield on your STX holdings.
Bitflow Finance
Bitflow Finance is a DEX (decentralized exchange) where you can trade Bitcoin and Bitcoin-related assets. These assets can be in various forms: from Bitcoin-backed stablecoins to digital assets 1:1 pegged to BTC. To fully understand how Bitflow works we’ll write about not only what Bitflow is and what the DEX strives to achieve, but also how these Bitcoin-related digital assets.
Bitflow Finance aims to be an integral part of the nascent Bitcoin DeFi ecosystem. Its collaboration with Though this article is on Bitflow Finance, I want the role of StackingDAO in the Bitcoin economy as well. Holding stSTX, lending it on a DeFi protocol, or adding liquidity to STX-stSTX pool on Bitflow earns 1, 1.5, and 2.5 points respectively. And whenever, there’s a points system, there is a potential airdrop. To repeat, stacking STX on StackingDAO and receiving stSTX in return, and then add both STX and stSTX to the Bitflow liquidity pool will make you most bang for your buck by enabling you to be positioned to receive airdrops from two different Bitcoin protocols.
Liquidium
Liquidium is a peer-to-peer BTC lending protocol. Users can borrow BTC by putting up their Ordinals as collateral. Liquidium accepts many popular Ordinals, RSIC Metaprotocol, Bitcoin Frogs, NodeMonkes, Ordinal Maxi Biz (OMB) among others as collateral. Loans are short-term; most have maturity of 7–12 days.
Liquidium is one of the most underfarmed protocols in DeFi. At the time of writing only 2,406 wallets interacted in one or another way with the project. Therefore, if you start to use the protocol by lending BTC or borrowing it against Ordinals you possess you stand a high chance to quickly climb the leaderboard. This can be translated into a decent airdrop in the future. Go and do it now! You won’t regret.
Call to Action
If you don’t have STX, go to any centralized exchange, e.g., Binance or Coinbase, buy some STX. Send it to your Bitcoin wallet, such as Xverse. Then go to StackingDAO, and stack your STX. You’ll receive stSTX. The next step is Bitflow Finance. Open “Pool” and select the first one of the liquidity pools called “STX-stSTX”. You can provide STX, stSTX or both.
Finally, go to Liquidium and borrow or lend BTC. You can use the same Xverse wallet mentioned above.