farming the $POLY airdrop costs you nothing.
i know a guy who did $348k vol for $0
this might be the biggest airdrop in crypto history, the company is valued at $21b.
to make volume you have to trade.
but you can skip that part!!
here's how:
1 - open an event with a bunch of outcomes. elections, sports leagues, whatever
2 - split $1 into a YES + NO pair on one candidate. technically it's not trading, you just swapped a dollar for shares
3 - convert the NO and you get YES on every other candidate. simple logic: him losing (NO) = someone else winning (YES)
4 - sell all the YES and you get back almost everything you put in. this is the step where the airdrop volume gets made
5 - one loop costs you about 0.9% in fees. part of it comes back as rebates if you sell with limit orders instead of hitting bids - that's the cheapest way to run it
IMPORTANT! pick liquid events, the bids are already sitting there for you to dump your positions into.
on fresh markets the book is empty, so you risk sitting on locked funds and going negative
here's the guy farming the drop this way:
but don't look at his PnL.
with almost half a million in "profit" his biggest actual win is $354. the rest comes from an entry price of a couple cents that he never paid