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[MY TOP 3 LIST OF DEXES]
Motherfuck the big three, it's just big me
My 2 cents on upcoming airdrops with some numbers, plus what I’m actually farming.
Ranked by higher risk → higher reward and by what I’m farming the most (so third = most farmed).
What you need to know:
I’m not a big whale farming these drops. I’m very average in portfolio size, so I can’t farm 10 protocols. I need to focus on 2–3 and get the biggest pie I can.
>>BullPen
@BullpenFi is a major sleeper play right now.
Thank you @szymon_dara , the GOAT, for bullpenning me.
BullPen is an all-in-one platform where you can buy coins on Solana,
trade on Hyperliquid spot and perps, and soon bet on Polymarket, the third is huge.
And Ansem is literally the co-founder lol.
What’s your edge here and what’s the risk?
Your edge is just dipping your toes into a protocol early, and getting as many points as you can. The risk is your time and the platform not becoming huge, but it’s compensated if you’re early.
If you’re using BullPen you’re touching:
$BULL
$UNIT
$POLY
HL Season 2
HyperEVM allocations
Points speculation from others (cc @szymon_dara ):
< $50M FDV = $0.21 per point
< $100M FDV = $0.43 per point
< $250M FDV = $1.07 per point
< $500M FDV = $2.14 per point
My stats (last week):
Did $220k HL vol and 4k SOL volume and got 5k points (+ this week’s distribution not counted).
Burned almost $150 in fees.
So this means bear case ~7x (1050$), base case ~14x (2150$). I’ll take that any day.
@BullpenFi is the riskiest but most rewarding farm based on the stats. Fees are quite high right now, that’s the only reason this is the lowest, but the team said they’re working on helping smaller traders.
>>Extended
@extendedapp is my little child I’m experimenting on.
It has a really nice API I’m using right now, and I actually wrote some market-making scripts and some DN ones.
I’m really enjoying the platform. Fees are okay too.
I think we’re all fed up with the “0 fees”, anything above 0 feels high, but that’s the market and it still favors us.
Numbers:
Extended is ~6 months into its points program.
Will distribute 30% at TGE.
Compared to Lighter, I’m seeing the same growth pattern, but earlier.
Costs/OTC:
$1M vol ≈ $250 in fees, and points go for $2–3 on OTC.
My stats:
I’ve got ~800 points right now (SUM) on $1.7M vol.
If $1M vol costs $250, and I mixed maker/taker so it’s lower:
~$425 (actually lower) for 800 points → $2,400 value.
This is the sweet spot of farming: you have exact stats to do the math, volume, fees, OTC pricing, which is huge.
Minimal risk of being irrelevant, but not as early as BullPen.
CC some good farmers: @szymon_dara , @derteil00
>>Variational - @variational_io
cc @ElNachoCrypto, this dude is crushing the $VAR content, and ofc I got var-pilled.
Also the biggest KOL I trust, frog aka @wronguser000, shilled this platform, so it’s a no-brainer to lock some volume before any points.
Variational has crossed $2B in trading volume,that’s huge.
BUT there are ~6k users with more than $100k vol.
Which screams retroactive points for early users + 6k current users + loss refunds.
It’s almost the perfect setup for a bongus airdrop.
Numbers:
50% of $VAR is going to the community, HUGE.
I could show metrics all day, but trust me: if you have funds, just trade on @variational_io .
Don’t take my word - take jez, frog, blur, nacho, dara.
@variational_io is closed beta right now. Pre-points, the edge is there.
My stats:
$12.35M vol and $1.5M vol from ref.
TL;DR
@BullpenFi - Early but smaller platform with a very good team (Ansem co-founder). You can farm 3 things in one, but fees are higher.
@extendedapp - Known enough, $0 fees with limit orders, overall good platform with a based founder; nice playground to trade/farm.
@variational_io - Very based platform with $0 fees + loss refunds and a good team. CT is all about it now, so some edge is gone, but it’s still pre-points and the KOLs backing it rarely miss.
If you want to support me any way, use my ref links:
BullPen - @matter2145" target="_blank" rel="nofollow noopener">bullpen.fi/@matter2145 (Save 10% on fees)
Extended - app.extended.exchange/join/MATTER2145 (Save 10% on fees)
Variational - OMNIRBK6UD2E (More chance to loss refunds)
If you made it this far, thank you.🙏




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