Missed the Hyperliquid airdrop? No worries, GRVT just might be your second chance to participate in tier A airdrop. But what is GRVT?
GRVT is 'an innovative hybrid infrastructure aiming to rebuild global finance on blockchain - compliant, user-friendly, and scalable, blending the best of CeFi and DeFi', according to their site.
Since it's still heavily under construction, at the moment GRVT serves as a leverage trading platform. The idea is very similar to Hyperliquid: you deposit Arbitrum stablecoins (in this case USDT), transfer to your trading account and start trading. What separates GRVT & Hyperliquid from some other decentralized exchanges is the user experience. Once you've added funds, you no longer have to sign transactions and can focus on trading. In other words, the experience is a lot like on CEXs such as Binance.
Trading For Airdrop
So why GRVT?
If you already are trading with leverage on Binance, Bybit, or whichever platform, I'd consider migrating your game to GRVT to farm their upcoming airdrop while you're at it. Every trade you make generates volume and fees which are then converted into points. These will eventually determine your future airdrop allocation.
From what I've heard, the recent Hyperliquid airdrop was the biggest in short crypto history, so no, GRVT probably won't reach those levels but it doesn't have to. Even a portion of that massive $HYPE distribution would be just fine and considering the small the effort is, it'd be more than fine.
Ecosystem Points
If you are not into trading, you won't be left out as there are other ways to take part in the upcoming airdrop as well.
Not sure if it's the easiest way, but at least taking part in community quests to accumulate Ecosystem Points is completely free. You earn points by inviting friends and also by taking part in Zealy quests. Once you reach 5000 Zealy points, you can convert those into Ecosystem Points.
Zealy quests consist of basic share X posts, like and retweet but also tasks that require a bit more effort such as creating video content on YouTube. These obviously earn you a lot more points.
Besides Trading Points and Ecosystem Points, there's also a third option for earning points - Liquidity Provider Points. This however requires you to fill out a form and apply for the program. I'm leaving this to be for now and focusing on the other two as I suspect that the number of participants accepted is limited and those willing to provide larger amounts will be favoured.
Progress
So far I have only made about 4 small trades worth somewhere between $20 to $40 and gathered 1,695 points. This currently ranks me in the 2046th place which isn't that bad considering I made those trades in a single day.
Such a relatively high-ranking spot indicates that GRVT might still be somewhat under-farmed which tells us we are still early.
As for the Ecosystem Points, I have 1,398 of those and that ranks me at 3585th place. That's pretty fine as well since the ecosystem part is probably much more farmed at this point.
One thing definitely worth mentioning is the fact that all these three ways to participate in the airdrop are separate, meaning each one has x amount GRVT tokens allocated and later distributed for those taking part. This is a very good thing because if you are not a trader but wanna put in work, you are not immediately diluted by a whale with huge volume but instead compete with other ones farming the ecosystem part.
Then again, if trading is your thing, you can skip the Zealy part completely if you wish as those points don't add up to your Trading Points.
Trading
The actual trading interface is similar to many of those on centralized exchanges. Since the GRVT platform has just recently been launched it's still missing some key features. For example, currently, there are only BTC/USDT and ETH/USDT pairs so if you are looking to short that $AIXBT, unfortunately, that's not possible at this stage.
One other thing you should pay attention to is the missing 'Isolated' option. For now, only 'Cross' is available so you are using your entire portfolio when doing multiple trades.
Also, at this point, you might not want to leave your trades open for the night as there aren't take-profit or stop-loss features. So basically there's a high risk of getting liquidated if positions are left unattended for a longer time.... or a high risk of making big gains. Still, I wouldn't advise you to do so.
That being said, the trading experience is otherwise smooth and fast. Nothing to complain about there and the team is also working on adding the missing features and they'll probably be rolled out soon. By following their Discord, I've noticed that the GRVT is quite active in Discord as well as adding new features which of course is very positive as there are so many lazy projects out there.
Conclusion
Even though I'm not super excited about doing the Zealy tasks, I've decided to focus on that as well although my main focus will be on Trading Points. This part certainly seems seriously under-farmed and even though we still don't about the airdrop criteria, I'm sure that being active daily will eventually earn us some decent rewards.
My strategy is to monitor the market sentiment and when the time is right, put in short or long orders on low time frames and close with just a couple of dollars in profit. In other words, avoid taking risks, try not to get greedy and keep the focus on points.
The GRVT Ecosystem Points is a great addition and it's a good thing it is kept separate so there's a chance for everyone to take part.
According to CryptoRank, GRVT has raised a total of $9.3 million and is valued at $39 million. Even though it's not going to be Hyperliquid, the hopes for a generous airdrop allocation are high.
If you are interested in joining either (or both) airdrop parts, consider using my referral links here:
Thank you for reading!
Ongoing Airdrops:
🔹 Mango - free, very promising testnet
🔹 Starbase - new DEX on Base with an airdrop program
🔹 Holozing - is an upcoming play-2-earn game on Hive - get in before the launch!
🔹 Grass - $GRASS token launch surprised everyone, don't miss the second season!
🔹 Yapper - join Yapper and take part in Kaito airdrop simply by tweeting on X!
🔹 Prodigy - free testnet on Berachain