GM Legends,

Three things I never thought I’d say: Bitcoin is going to $1 million, Arbitrum is actually having an airdrop and there’s crazy Llama drama over at DeFi Llama.

Wow, and it’s only Tuesday! FOMC is right around the corner which means it’s time to flip a coin on if we’ll be sent to Valhalla or completely nuke. (😩)

BUT the Arbitrum airdrop is here and there’s been a lot of discussion as to “how to play” the narrative. Today we recap the important bits plus 3 potential ways to take advantage.

🧑‍💻 Join the Discord | 🐥 Follow Twitter | 📊 Sub to YouTube & Spotify

Here's what's inside today.

🔥 The big topic. The Arbitrum Airdrop: 3 Ways to Dominate it.

🗞 Hot crypto news. UBS beats Tron Founder to acquire Credit Suisse, Llama drama avoided as the team makes up, Bitcoin to $1M! AND MORE.

👀 Updates across the bloc. Sector Finance & Unstoppable DeFi public token sale March 29th, Plutus DAO releases $plsRDNT AND MORE.

🛡 Chart of the day. How low can the $ETHBTC chart go?

🧵 Thread of the day. Airdrops can be life-changing, Ardizor simplifies the zkSYNC airdrop.

🔥 The big topic.

The Arbitrum Airdrop: 3 Ways to Dominate it.

Wen wen wen?!

Less than 48 hours, that's wen!

I still can’t believe that it is actually real, it is ACTUALLY happening.

I almost became a disbeliever because the conviction of “wen Arbitrum airdrop” memes had started to fade.

After a late-night chat in the blocmates discord here is everything you need to know about the airdrop and three ways to play it.

Today let's go over the wen, why, and who. We’ll compare it against the Blur & Optimism charts and then cover three potential ways to play it.

The Important Bits

Wen token?!

Take the day off work, send the family for a spa and get ready to spend the day on crypto Twitter.

The Arbitrum airdrop is almost here so head over to the official Arbitrum Foundation website to check your eligibility and allocation because Thursday, March 23rd is going to be one of the most historic days since the forking success that was the Ethereum Merge.

Note: Scammers are out in full force so be extra careful aping into $ARB tokens that aren’t real!

Why token?!

They’ve built the tech and now it's time to bring the vision of Arbitrum to life by creating a fully decentralised L2. The $ARB token will be used for governance giving the power to the people so that the Arbitrum community can successfully continue to scale Ethereum in a secure way.

Who gets the airdrop token?!

You, me and the DAOs. And the team of course with unlocks listed below.

The Arbitrum DAOs will get an allocation of tokens that can be used for governance and aims to give more governance power to the community by targeting a wider array of users… Plus it means there are fewer people to dump the token after getting free tokens!

Price Speculation

$1? $2? $10?!

Mathematical Twitter geniuses have been speculating the price since the announcement but until the token actually launches we are simply making (semi) educated mathematical guesses.

But if the $ARB token is going for $1 - $1.2 in the ‘over the counter’ (OTC) markets then it seems reasonable it would start here or launch higher.

OTC buyers have got to make a profit right?!

The Airdrop Rulebook

By the laws of the airdrop rulebook page 69 we dump, pump, dump some more before entering the community holding accumulation phase.

You could see the Blur airdrop as a gift as it printed over 23+ millionaires and as expected, the chart followed The Airdrop Rulebook to a T with it currently going through the accumulation phase. How the Blur airdrop part three plays out is yet to be seen.

The great Arbitrum vs Optimism debate has been lingering since the dawn of time. Both are L2s, both are optimistic roll-ups and both are using airdrops to give to holders.

Again the OP airdrop followed the rule book to a tee. Dump ‘n’ pump before dumping into accumulation before seeing a new lease of life as CoinBase will be using the OP stack.

The biggest difference between the Arbitrum and Optimism airdrop is that Arbitrum has already built a foundational ecosystem of blue chip projects people use on a daily, backed up by communities that feel like families.

Thus potentially putting themselves in a very smart position as the majority of airdrop users will have <2000 tokens.

3 Ways to Play the Airdrop

Ok ok ok, enough with the waffle, numbers and technicals… SHOW ME THE MONEYYYYY

1. The $ARB Token. Going back to The Airdrop Rulebook above, we tend to see a dump ‘n’ pump. So knowing what we know so far you could (NFA, DYOR… we write newsletters for a living, remember) time your entry based on historical patterns or simply just HODL for governance purposes.

2. The Arbitrum Ecosystem. The ecosystem is booming right now. Not just the tokens, but NFTs are hitting all-time high after all time highs.

   
   And the degen in me could see this being one of the smartest ecosystem rotation plays of all time. Think of it this way, project tokens might dump to pump the $ARB token and once profits have been taken from $ARB they will likely rotate back into projects but at a discount.

   
   Which boosts daily transactions and fees generated through gas and most importantly keeps the money in Arbitrium. Truly genius.

   
   We’d suggest creating a watchlist of the blue chips, the slowly growing and complete rekt or riches.

3. Completely fade it. Yes serrr! Fade it completely because there will be another narrative with bigger rewards potentially around the corner and being the first to rotate into that could lead to green pastures. With Game Developer Conferences happening this week GameFi could be a fun place to DYOR.

Oh, and it looks like Binance, BitMex and options protocol Clober are getting a head start on the ARB airdrop with perps and options.

Our Take

Genuinely very excited for wen airdrop to actually happen as this might be one of the smartest played airdrops every dropped.

But what happens next… you decide 👇👇👇

🗞 Hot crypto news.

🐮 Bullish News

• Game on for Polygon as they team up with Immutable (blockchain for gaming) to launch the Layer 2 blockchain Immutable zkEVM which is set for a Q2 ‘23 release. The L2 will be secured by Matic stakers who will receive fees from transactions made. The announcement comes ahead of Polygon’s own zkEVM chain launching on March 27th. (source)
  

• Coinbase explores fresh pastures as the US continues to clamp down on crypto forcing innovation to friendlier climates. The overseas exchange would be away from the main Coinbase marketplace suitable for global clients. This would also allow the exchange to offer derivative products. (source)
  

• The Llama drama meltdown was avoided as the team managed to sort out their quibbles to avoid a “hostile takeover.” There will now be NO token launch and we, as a community, can all get back to using one of our favourite terminals!

🐻 Bearish News

• OKX is to cease Canadian operations by June 22nd ‘23. Citing that “new regulations” are the cause of this. The exchange has said that funds will be safu and will be able to withdraw your funds to your linked, real-life, bank accounts. (source)
  

• UBS is set to acquire Credit Suisse in a shotgun wedding engineered by the Swiss authorities to avoid even more market turmoil within the global banking system. Despite being good news, this is bearish because it doesn’t fix the banking crisis that is occurring. It’s a shame to see Tron Founder Justin Sun’s bid to turn Credit Suisse into a crypto-friendly bank was ignored. (source) (source)
  

• “Bitcoin is going to $1,000,000” has been rooted and tooted across social media recently, and whilst this is good for holders it spurs off the back of hyperinflation… which is not good.

👀 Updates across the bloc.

Project Updates

• GMX developers have been working on GMX V2. Whilst no date has been set, the increased noise on Twitter and Arbitrum airdrop could be an indication it might be soon. (source)
  

• Nftperp has just unleashed 10x leverage on everybody’s favourite Crypto Punk NFT collection. Plus the trading competition to win a Pudgey Pengiun will be finishing soon. (source) (source)
  

• Perpy Finance raised their $5m public hard cap last week with the $PRY token going live on March 21st at 6pm UTC. $PRY is the native utility token which can be used for governance, real yield, priority access and more. (source)
  

• Pepe’s Game, a gamble fi project on Arbitrum saw their pre-sale sell out in record time last weekend with their incentivised testnet coming next, date to be confirmed. (source)
  

• PlutusDAO has halted its emissions going to Sushiswap pools with the focus being on Camelot. According to their discord, they have an “absolutely PACKED week” ahead of them. Today they just launched $plsRDNT with future vaults being built on Radiant. (source) (source)
  

• Sector Finance, a diversified yield protocol on Arbitrum will be having its fair launch price discovery token launch on CamelotDEX, Wednesday, March 29th at 1PM EST. (source)
  

• SpiralDAO has created a novel DAO model that's bringing something new into yield farming and bribes markets space. For full information on how the 2 part airdrop works click on the source. (source)
  

• Unstoppable Defi will be having its fair public launch on Wednesday, March 29th. There have been no VCs, no pre-seeds or no private sales. This is set to be one of the fairest investor-generated launches of the year. (source)
  

• zkSYNC has been highlighted by Nansen as having over 39,000 wallets bridging over $871m. What do they know about the airdrop?! (source)

Governance Updates

• Balancer to deploy on zkSYNC is currently in voting on snapshot. With approval, the goal would be to deploy Balancer as early as possible to get a head start over the competition. A good move by the Balance team with the zk narrative picking up momentum. (source)
  

• Scroll team member Robert Chang has submitted a proposal to have the Hop Bridge deployed on Scroll, an L2 scaling solution that is pushing the development of an Ethereum equivalent zkEVM. Ends on March 22nd. (source)

🛡 Chart of the day.

$ETHBTC how low will we go?

In the chaos of the current banking crisis, Bitcoin has reminded us why it is still the King of Crypto. Ethereum and altcoins have been heavily underperforming against the King. But for how much longer?

The RSI has yet to show any sign of a bottom as the chart slips and slides down to the 0.058 zone where we may expect to see a larger bid as the Bitcoin Dominance ($BTC.D) chart starts to reach the 48%+ region.

• Bull case. Slowly start to bottom out in the 0.060 - 0.062 zone gearing up for the Shanghai update as traders take profits, and rotate into altcoins ready for an altcoin season.
  

• Bear case. Checkpoint 1, 0.058 - 0.06 and if that doesn’t hold down to the 0.053 - 0.055 zone.

Coming up this week.

The day we have all been waiting for this week. Wednesday 22nd, at 6pm UTC, we find out the FOMC Economic Projections, FOMC Statement and then hear more at the FOMC press conference. We are likely to see rate hikes and a lot rides on how dovish or hawkish Fed Chair Jerome Powell’s statement is.

🧵 Thread of the day.

With a little bit of effort, research and understanding… airdrops can create generational wealth. Worst case you might make a few extra golden corns to go on holiday with.

Nansen showed 39,000 wallets are already ahead of the game on the zkSYNC airdrop. Ardizor gives a simple breakdown of how you can get your own headstart on the rest of the market.

And on that note, thanks for reading, catcha apes in the next edition!

blocmates team 🫡

🤝 A final word.

A quick word from our super awesome sponsors who help us make this all possible...

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