The hunt for high-yield crypto investments has prompted one on-chain lending challenge to contemplate deploying its treasury in airdrop farming, a favourite pastime for a lot of buying and selling degens.
JPEG’d DAO, the governance group that runs the Ethereum-based lending platform that accepts NFTs as collateral, on Monday started voting on a proposal to deploy as much as 50% of its ether (ETH) treasury to “airdrop farming methods.”
So-called PIP-85 may see JPEG’d DAO make the most of almost $19 million value of ETH tokens on EigenLayer and Blast, two of the most well-liked spots for airdrop hunters within the Ethereum ecosystem proper now. Each protocols are anticipated to reward their customers with probably worthwhile tokens sooner or later. That expectation has prompted billions of {dollars} of crypto capital – a lot of which is from airdrop farmers – to stream into their protocols.
“The DAO is sitting on a wholesome treasury and there are potentialities to solidify the treasury at low danger,” pseudonymous JPEG’d contributor 0xTutti informed CoinDesk.
