Fxcrypt
“There’s an opportunity to strengthen the treasury with minimal risk,” shared 0xTutti, a pseudonymous contributor to JPEG’d, with CoinDesk.
The pursuit of high-yield crypto investments has led an on-chain lending project to contemplate directing its treasury towards airdrop farming, a popular activity among many speculative traders.
JPEG’d DAO, the governing body overseeing an Ethereum-based lending platform that accepts NFTs as collateral, commenced voting on Monday on a proposal to allocate up to 50% of its ether (ETH) reserves to “airdrop farming strategies.”
PIP-85, as it’s dubbed, could potentially see JPEG’d DAO utilizing nearly $19 million worth of ETH tokens on EigenLayer and Blast, two prominent destinations for airdrop enthusiasts within the Ethereum ecosystem. These protocols are anticipated to reward their users with valuable tokens in the future, attracting billions of dollars in crypto capital, much of which originates from airdrop farmers.
“The DAO has a robust treasury, and there are opportunities to reinforce it with low-risk strategies,” reiterated 0xTutti to CoinDesk.
Fidelity_Nasir
