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Elixir Airdrop Guide

RazzaerUpdated Published 1 min read
Status:Ended

Action Required

Complete testnet actions

WebsiteXDiscord
Visit Project Site

Claim Checklist

Visit Website & Deposit
Select a Liquidity Pool
Supply to the Selected Pool
Monitor Your Potion Score
Elixir Airdrop Guide

Elixir aims to create a cross-chain liquidity pool by aggregating liquidity from various sources, making it accessible for decentralized exchanges (DEXes) like hyper liquid, dydx, and 30 others. The airdrop revolves around the $ELX token, with participants able to earn points that will later convert to the token. The mainnet launch is anticipated in August 2024, indicating a timely opportunity for interested participants. The project, valued at over $800 million and supported by under 56,000 wallets, presents a solid opportunity, especially since not many are actively farming the airdrop.

Eligibility
Paid
Chain
ethereum
Difficulty
Easy
Category
lending

How to Check and Claim

How to Claim Your Elixir Tokens

1

Visit Website & Deposit

First visit the Elixir Website and connect either your Ethereum or SUI wallet. To start, you can contribute by depositing a minimum of $100 worth of ETH on the Ethereum mainnet or $100 or more of USDC to an Elixir-powered product on supported exchanges. Considering the high gas fees on Ethereum, alternative networks like Sui offer a more cost-effective route.

2

Select a Liquidity Pool

Navigate through the Elixir interface to choose a suitable liquidity pool for depositing your USDC. Pools on the Sui network, for example, might offer an attractive APR and the added benefit of potential Sui ecosystem airdrops.

3

Supply to the Selected Pool

Follow the prompts to supply your chosen amount to the liquidity pool. This action begins your journey in farming the Elixir airdrop.

4

Monitor Your Potion Score

After depositing, your potion score, which determines your eligibility and potential rewards from the airdrop, will start increasing. Note that it takes 48 hours for the score to reflect your activities. It is important to occasionally check your positions to avoid Impermanent loss, I recommend checking once a week and setting a notification in the airdrop tracker.

Additional Details and Considerations

  • Documentation and Research: Before engaging, review Elixir’s documentation to fully understand the project and the airdrop mechanism.
  • Risks Involved: Participating involves risks such as smart contract vulnerabilities and impermanent loss from liquidity provision. However, the potential airdrop rewards aim to outweigh these risks.
  • Transaction Fees and Impermanent Loss: Be mindful of transaction fees, especially on networks like Ethereum. Choosing alternative networks like Sui for transactions can mitigate these costs. Understand impermanent loss risks when providing liquidity.

Not financial advice. I explain how these tools work and what they cost me; check the details yourself before moving money. Last reviewed .

Razzaer (@Razzaer)

I use Solana daily and provide liquidity on Meteora. These guides come from what I do myself; drafts are AI-assisted and I check every one. More about me · X · YouTube

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