Gecko Ramblings 20-8-2022

Disclaimer: The information presented is not financial advice from CoinGecko. The information shown here may carry risks of smart contract failure and impermanent loss. Always DYOR and only invest what you are willing to lose. Share your feedback on our Gecko Ramblings series!

What our analysts are rambling about 🔍

Magnety

Magnety is an on-chain asset management protocol market on Starknet that allows users to copy other's professional portfolios.

Magnety is currently live on the testnet and is currently having weekly quizzes with On-chain Achievement Tokens (OAT) as rewards which will give access to a unique role on Discord and a chance to be eligible for airdrops.

These weekly quizzes are the first of many community events, so do look out for future updates on their Twitter or Discord. Learn more about the community events here.

Liquidity Mining on Canto

Canto, a DeFi-focused Layer-1 blockchain, has just launched its liquidity mining program.

Although all of the currently available liquidity pairs will receive CANTO emissions, the CANTO/NOTE pair will receive the highest rewards (37% of the total supply).

To get started, users have to provide liquidity to any of the supported pairs on the Canto DEX. The LP tokens will then need to be staked on the lending page to begin earning rewards.

To find out more about Canto, we've covered the basics in our recent DeFi and Altchains article here.

The SAFE Airdrop

Safe or more commonly known by its former name, Gnosis Safe, will be issuing a token. As part of its token issuance, the protocol plans to airdrop 5% of the total supply to past users, though interaction must have been done before February 9, 2022.

However, it should be noted that the mechanics of the airdrop is being put forward to the community as a proposal and will need feedback/approval before moving forward.

For a full breakdown of the proposal, check it out here. It is also possible to view currently eligible addresses here.

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