HUGE UPDATE FOR MONAD AIRDROP! 2 Things You MUST DO Right Now | Full Guide on OLABS & Clober
AlphaDrop Description
In this video, we explore fresh interactions on Opinion Labs (OLABS) and Clober to maximize your potential rewards from the Monad airdrop. Learn how to create a secure contract wallet on OLAB, complet...
AI Analysis
Okay, let's dive into the latest moves you can make on the Monad testnet to hopefully boost your chances for that potential airdrop.
Here are two key platforms you should be interacting with right now: Opinion Labs (OLABS) and Clober. OLABS is a prediction market where you can make bets on future events (starting with crypto stuff) to earn points and tokens. Clober is a decentralized exchange (DEX) where you can do standard DEX actions like swapping tokens, setting limit orders, and providing liquidity. Both are live on the Monad testnet, and using them is seen as a way to show you're an active participant in the ecosystem, which could make you eligible for an airdrop down the line. There are even giveaways of testnet MON tokens happening to help you get started.
Here's a breakdown of what you need to know about each:
Opinion Labs (OLABS)
- OLABS is described as a "next-gen prediction market" built on Monad, allowing users to quantify opinions on various events, starting with crypto.
- It's backed by some notable investors like YZI Labs (formerly Binance Labs) and Animoca Brands, having raised $5 million. This kind of backing is often seen as a positive sign for a project's potential.
- To get started, you connect your wallet (it's recommended to use the same one you've been using for Monad farming, specifically MetaMask was used in the video).
- You need to complete a registration process after connecting your wallet.
- A crucial step is creating a "secure contract wallet" on OLABS. Even though the platform states assets remain under your sole control and they have no access, using a burner wallet is suggested as a safety measure just to be extra cautious.
- While the contract wallet is setting up (which might take a few minutes), you can explore the platform.
- Earning points and tokens on OLABS involves completing daily tasks (like daily check-ins and trading once a day) and participating in the social tasks available.
- The main interaction is participating in the prediction events by making predictions. The idea is you gain points if your predictions are right, which is kind of fun but also means you don't necessarily know the "right" answer to maximize points unless you actually can predict the future!
Clober DEX
- Clober is a "fully on-chain DEX protocol for the EVM ecosystem." It positions itself as a DEX that can supply liquidity where traditional Automated Market Makers (AMMs) might struggle.
- Getting started on Clober is straightforward: connect your wallet to the Monad testnet.
- The video follows a specific three-step guide for interacting with Clober, credited to "Derek Hopp":
- Step 1: Make a Swap. This involves exchanging one testnet token for another, for example, swapping MON for USDC. You just go to the swap interface, select the tokens and amount, and execute the swap.
- Step 2: Place a Limit Order. Unlike market swaps, limit orders let you set a specific price you want to buy or sell at. The guide suggests placing a limit order using half of the tokens you just received from the swap (e.g., using half the USDC to place a limit order to buy MON). You navigate to the 'Limit' tab, set the pair, amount, and desired price, and place the order.
- Step 3: Add Liquidity. Providing liquidity means depositing a pair of tokens into a pool to facilitate trading on the DEX, earning potential fees. On Clober, you go to the 'Vault' tab, select 'Add Liquidity', choose the token pair (like USDC/MON), click max on one of the tokens (like USDC), and confirm adding the liquidity.
- Completing these steps covers the basic functionalities of a DEX – swapping, placing conditional orders, and contributing to liquidity provision – demonstrating active usage of the platform.
- There's an ongoing effort to give away testnet MON tokens to users who interact and engage with related posts (like liking, retweeting, and commenting your address on specific X posts). It's noted that these giveaways provide significantly more testnet MON than typical faucets, which is helpful as you need testnet tokens to pay for gas fees and perform transactions on these platforms.
In summary, the key actionable takeaway is to engage with both OLABS and Clober on the Monad testnet. For OLABS, focus on connecting, setting up the contract wallet, completing daily tasks, and making predictions. For Clober, follow the swap, limit order, and add liquidity steps. These interactions are crucial for building a history of activity on the Monad testnet, which is widely believed to be a key factor for potential airdrop eligibility.
Transcript
If you clicked on this video, chances are you want in on the Monad airdrop. We've talked extensively about Monad in this channel. And if you're like me, all I'm thinking about is what the hell can we do to capitalize? So in this video, I have two more Monad airdrop interactions that you can do right now. Before we start, make sure you give this video a like, subscribe to the channel. Also, make sure you're following me on X and as well as the team. Today, we are going to be talking about OLAB, ...
