The hunt for high-return crypto investments has prompted an on-chain lending challenge to think about deploying its treasury into airdrop farming, a favourite pastime for a lot of buying and selling friends.
JPEG’d DAO, the governance group that runs the Ethereum-based lending platform that accepts NFTs as collateral, started voting on Monday on a proposal to stake as much as 50% of its ether (ETH). treasury to ‘airdrop farming methods’.
The so-called PIP-85 would enable JPEG’s DAO to leverage 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 precious tokens sooner or later. That expectation has led to billions of {dollars} of crypto capital – a lot of it coming from airdrop farmers – pouring into their protocols.
“The DAO has a wholesome treasury and there are alternatives to strengthen the treasury with low threat,” pseudonymous JPEG contributor 0xTutti informed CoinDesk.