Share this article
BTC
$81,647.54
+
6.55%ETH
$1,591.93
+
9.30%USDT
$0.9994
-
0.00%XRP
$2.0041
+
11.52%BNB
$574.05
+
3.77%USDC
$0.9999
+
0.00%SOL
$113.64
+
9.06%DOGE
$0.1561
+
7.18%TRX
$0.2414
+
5.84%ADA
$0.6192
+
10.46%LEO
$9.4150
+
2.78%LINK
$12.39
+
10.60%AVAX
$18.01
+
11.45%TON
$2.9874
+
0.53%HBAR
$0.1715
+
15.19%XLM
$0.2341
+
7.63%SHIB
$0.0₄1196
+
9.77%SUI
$2.1392
+
12.12%OM
$6.6811
+
8.50%BCH
$293.77
+
8.62%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Seeking Yield on $37M Ether Treasury, JPEG'd DAO Mulls Airdrop Farming
"There are possibilities to solidify the treasury at low risk," pseudonymous JPEG'd contributor 0xTutti told CoinDesk.
The hunt for high-yield crypto investments has prompted one on-chain lending project to consider deploying its treasury in airdrop farming, a favorite pastime for many trading degens.
JPEG'd DAO, the governance group that runs the Ethereum-based lending platform that accepts NFTs as collateral, on Monday began voting on a proposal to deploy up to 50% of its ether (ETH) treasury to "airdrop farming strategies."
STORY CONTINUES BELOW
So-called PIP-85 could see JPEG'd DAO utilize nearly $19 million worth of ETH tokens on EigenLayer and Blast, two of the most popular spots for airdrop hunters in the Ethereum ecosystem right now. Both protocols are expected to reward their users with potentially valuable tokens in the future. That expectation has prompted billions of dollars of crypto capital – much of which is from airdrop farmers – to flow into their protocols.
"The DAO is sitting on a healthy treasury and there are possibilities to solidify the treasury at low risk," pseudonymous JPEG'd contributor 0xTutti told CoinDesk.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
