Today, it is the Francium Protocol that could be one of the next potential Solana protocols to consider rewarding its users. Some hints posted by the project’s team lead us to believe that Francium could be the next platform to carry out an airdrop of its own.
Some key points about the potential Francium airdrop
- Project: Francium
- Blockchain: Solana
- Costs: Paid (Mainnet)
- Token: $FRN
What is Francium?
Francium is a decentralized finance (DeFi) platform for Solana users. It allows users to generate returns on their cryptocurrencies using complex strategies such as yield farming and lending.
It is also a Yield Optimizer, which means it optimizes the returns offered by other DeFi platforms. It offers a simple and intuitive interface that allows users to create yield portfolios in just a few clicks.
The strategies offered by Francium are:
- Yield farming: This strategy involves depositing cryptocurrencies into liquidity pools to earn token rewards.
- Lending: This strategy involves lending cryptocurrencies to other users to earn interest.
The Francium protocol has a TVL of about $15 million according to data visible on the Francium platform.
How to qualify for the Francium airdrop
In order to interact with the Francium platform, you will need to have a wallet that supports the Solana network. Below are some wallets you can use for the Solana network.
Although rumors in the Francium Telegram group have occurred, the team has not officially communicated about an airdrop. The qualifying conditions are therefore unknown at this time. The goal will be to use all the features on the platform by conducting volume and multiple transactions.
Before anything else, if you want to bridge funds to Solana, the Francium platform integrates the Wormhole Protocol’s Portal bridge, which may also potentially offer a future airdrop for users of its protocol. Read our detailed guide on the Wormhole airdrop if you want to learn more.
1 – Lending tokens on Francium
To potentially qualify for this airdrop, you simply need to deposit liquidity on the platform. You will have the option to deposit multiple tokens. Note that the amount you deposit is likely to play a very important role.
To deposit your tokens, go to the Francium platform and connect your Solana wallet. Then click on the “Deposit” button next to the token of your choice and enter the desired amount. Click “Deposit” again and confirm the transaction.
Note that the liquidity deposited during this step will also be used for the following steps.
2 – Put your tokens to work on Francium
First and foremost, please note that using this functionality carries risks, including the potential loss of all your funds.
Lending your tokens on the platform allows you not only to earn a return visible in the “APY” column, but also to borrow tokens to deposit them into farming pools.
To use this feature, go to the “Farm” tab. Here you will see several farming strategies with different token pairs and leverage. The returns on these strategies are very high because they involve high risks.
Choose a strategy and click on its “Farm” button. You will then have several parameters to select for your position. Start by entering the amount you want to deposit for each token.
Then specify the desired leverage for your position. After that, you can choose which token you want to borrow for your position using the tokens you previously deposited on Francium.
You also have the option to use a stop-loss for your position by checking the appropriate box.
Once your position is fully configured and you are aware of the risks, click “Farm” and confirm the transaction on your wallet.
Important details about the Francium airdrop
At the moment, no official information has been released by the team regarding an airdrop. It is advised to follow Francium’s Twitter account to stay informed about the team’s announcements.
Please note that the conditions for airdrops on similar platforms usually take into account the total amount deposited on the platform before a certain snapshot, the date of which is often communicated during the airdrop.