NFT Lending Protocol Sharky on Solana: An Airdrop Guide
Sharky is an NFT lending and borrowing protocol on Solana, now announcing a retroactive airdrop for active users and launching an activity-based points system.
Sharky allows users to deposit diverse NFTs into the lending protocol to generate earnings or to take out loans against their own NFTs as collateral.
An NFT must exhibit significant liquidity and user interest to be eligible for deposit in the lending protocol, indicating that only highly popular collections are suitable.
Sharky introduced a points system in February, and the related activities remain highly relevant today. This article discusses potential actions that could help users qualify for the Sharky retroactive airdrop, highlighting which actions are more lucrative in terms of points.
Getting Started with Sharky
To begin with Sharky's lending services, one should:
- Download and install a Solana-compatible browser wallet like Phantom or Backpack;
- Deposit an adequate amount of SOL to cover transaction fees and purchase NFTs;
- Acquire one of the non-fungible tokens listed by Sharky.
How to Accumulate Points on Sharky?
Sharky points are earned through active participation on the platform. Depositing NFTs can yield an APY of 180β200% annually.
However, the actual yield from NFT lending might be halved. Tokens are locked in the protocol for a set period (e.g., 14 days) before they are unlocked for further use.
Monitoring the "Offers" section is crucial for evaluating the feasibility of bids on certain NFTs.
Points are allocated to traders for three main actions:
- Wallet connection;
- Lending out NFTs;
- Borrowing funds under the "Borrow" section.
Sharky NFT Lending Details. Source: sharky.fi
Leaderboard and Airdrop System
The sharky.fi/airdrop page currently displays a leaderboard showing the points tally of users. At the time of writing, the platform boasts fewer than 5,000 users, with the top points standing at around 17 million. The smaller the user base engaging with the project, the larger the rewards each trader stands to gain.
Sharky Leaderboard Points. Source: sharky.fi/airdrop
The "Airdrop" section explains that user activities will be segmented into different tiers for the distribution of rewards. The exact criteria for each tier remain unspecified. The claim process for SHARK tokens will commence following the coin's listing.
Airdrop Tier Distribution Details. Source: sharky.fi/airdrop
Future applications of the SHARK coin are detailed in the project's documentation, indicating its use for rewarding users, airdrop payouts, and as a marketing tool.
Final Thoughts
Sharky presents as an appealing project with a potentially substantial airdrop, supported by the Solana network's overall growth, the bullish cryptocurrency market trend, and its limited user engagement.
