HUGE UPDATE FOR MONAD AIRDROP! 2 Things You MUST DO Right Now | Full Guide on OLABS & Clober
AlphaDrop
3 months ago
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Executive Summary
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
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, a next-gen prediction market for everything, fresh on Monad, backed by YZI Labs. And also, another project, Clover, a decentralized exchange on Monad. So smash up the like button down below and also check out the link in the description. If you guys need some Monad testnet tokens, we got you. Just interact with the link down below where we'll be doing a giveaway for you guys. So a little bit of an introduction of what we're getting into. Opinion Labs creates prediction markets that quantify human opinion in social networks, giving users measurable influence and reshaping digital infrastructure. So click the link down below. You'll be taken to this site. As you can see, there's a bunch of predictions that they have over here. For example, when will Monad Mainnet go live? All right, so right now, they only have crypto-related events going on. But soon, they'll have business-related events, politics, and also sports. Let's just talk about the funding really quickly. So Opinion Labs has raised a total of $5 million by YZI Labs, previously known as Binance Labs, Animoca brand, and more. All right, so again, guys, link down below. You'll be taken over here. Where the first thing you have to do is connect your wallet. What I suggest is use whatever wallet you've been using to farm Monad. Okay, so for me, it's MetaMask. Make sure you connect your wallet. For me, I use MetaMask. After you're done connecting your wallet, just complete the registration. After that, what we have to do is start by adding some funds. So step one, create a secure contract wallet. All assets remain under the sole control of the user. Olab has no access or ability to control funds. All right, so make sure you're using a burner wallet just to protect yourself. And while your secure contract wallet is being created, this may take a few minutes. Feel free to explore the platform while you can. So while that's loading up, just head over to tasks and complete the daily check-in. And also, complete the other tasks over here. As you can see, trade one time per day due to social tasks as well. And then these tasks over here. Now, once you're done with all of this, what do you do? Well, you participate in the events, right? So you gain points and tokens participating in these events. So it's a predictions market. So just make a prediction. And hopefully, you're right. I will be playing with this. But unfortunately, I am not a fortune teller. So I don't exactly know the answers to these. But that's the fun of it, right? So that's it for Opinion Labs, guys. Let me know if you have any questions. And I'll get back to you in the comments down below. But moving on. Next, we have Clover. Shout out to Derek Hopp. Part of the Alpha Army in this channel. If you want to join the Alpha Army as well, make sure you're subscribed to the channel. Make sure you're following all of us on X. And of course, become a member in our Airdrop research tool. We have a bunch of new features that are live right now. And so far, the feedback has been amazing. I'm very glad that you guys like this. And we're working on some things to make it a lot more exciting for you. All right. So link down below. Become a member. All you have to do is input your email address. Don't miss out on this, guys. All right. So back to Clover. Clover is a fully on-chain DEX protocol for the EVM ecosystem. Supplying liquidity where AMMs won't dare. So let's just follow Derek Hopp's guide right over here. The first step is to make a swap. So click on the link down below. Connect your wallet. And once you connect your wallet, swap some MON for USDC. So let's just click over here. Head to MONAD testnet. And what I'm going to do is swap 0.5 MON for 6 USDC. Now that that's done, the second step is to place a limit order. So select the limit tab. Input half your USDC to MON. And then place the order. So let's just head over to limit. Make sure it's USDC to MON. And then we're going to do half of what I have. So I'm just going to do four. And let's place the order. And there we go. Transaction is confirmed. Now that we're done, the third step is to add liquidity. So go to the vault tab. Click add liquidity at USDC to MON. Click max at USDC and add liquidity. So now at the vault tab, add liquidity. I'm going to click max on USDC. And I'm going to click over here to add liquidity. Hit the confirm button. And we are done. And there we go. Transaction is confirmed. We are now done. Big shout out to Derek Hopp for this. Link down below to follow him. And also make sure you like, retweet, and comment your address on this post. Because we're going to be giving out MON tokens regularly. I think I've given over 100 MON tokens myself alone. I don't know how much Derek Hopp has been giving. But he's been giving out a lot to you guys as well. And honestly, we give out way more than any faucet will ever give you. Alright? That's not a joke. So give this video a like. Subscribe to the channel. Leave a comment down below. And check these two videos out if you want to watch some more crypto-related content. My name is Martin. Peace.