Cerberus - The 3 Headed Dog Meme Coin.
So, not a week goes by in the Cosmos eco-system without new chains launching and airdrops happening. Sometimes the projects are significant, sometimes they appear to be little more than a roadmap and lots of promises. And then sometimes they are unashamedly launched with little to no roadmap and happily occupy the niche of useless meme coin. In the last 24 hours, one such coin has launched, called Cerberus ($CRBRUS).
It seems the main premise of this is that it is the only three headed dog meme token in the cosmos, and that obviously that makes it 3X better than other "useless dog meme tokens" on the market. For me, I look at Cerberus and my main interest is "Free money" to be completely honest.
Who gets the airdrop?
The first portion of the airdrop has been rolled out, for stakers of the other big Cosmos meme coin, HUAHUA. Yes, owning a meme coin gives you access to another one. The ratio is actually quite favorable, with 1.47 $CRBRUS being issued for each HUAHUA you have staked. This has already occured, and these funds are already in your wallet. Conveniently, there are no missions to claim, or hoops to jump through, simply connect your wallet and there they are. Nice and easy is a tick, compared to some other airdrops or stakedrops going around at the moment (Asset Mantle is painful - post to follow later once I figure it out).
So the ease of access gives this one a tick. Down the track, at some point in the "Soon-iverse" drops will also be allocated to ATOM and OSMO stakers. For each OSMO you have staked, you will get 192 CRBRUS, and for each ATOM, 107 CRBRUS. To connect the chain to Keplr and see how much you have, follow this link to the official staking wallet.
Before anyone asks, I have no idea if it works for Ledger.
What to do with them?
STAKE.
The obvious option is to stake, to build the stash that you have over time. Staking works, and the APR at the moment is just under 300%. Obviously the inflation is high, but it seems less so than HUAHUA, which has also just dropped below 300%. CRBRUS has already gone below 300% on the first day. One great option for staking, that I can highly recommend, is to use the REStake service provided by our friend @nulledgh0st and his Whispernode team of validators. That service is one I have not discussed yet in my content, but it works a treat and takes a lot of hassle out of regularly compounding your earnings, across a number of chains.
Compounding is a great way to grow your stake, and auto-compounding is even better. You can see on that app which validators support auto compounding, and select accordingly. Currently, both Whispernode and our other friends at Infinity Nodez (with @coinlogic.online involved in their team) are supporting this service for Cerberus. If you want to grow your stake of this meme coin, auto-compounding is definitely the way to go.
SELL.
The other obvious choice for free money airdrops is to sell them into something you actually want. So far, at the time of publishing this post, there are not yet any live markets for the coin, so no real opportunities to sell. No doubt at some point, Osmosis LP's and trading will open up, possibly also Junoswap and other options down the line. Most likely Osmosis, and hopefully soon. Maybe by the time you read this post, CRBRUS will be live on Osmosis.
If you are going to sell, don't be surprised if you see an early pump in the token. When pools start on OSMO, especially around when they are getting added to the incentivized options, the token can perform quite well for the opening days. Then once people have gotten their positions set, regular selling of rewards sets in and the token steadily declines.
Here are a few examples:
As examples, these are pretty indicative of listing on OSMO. Pools get added, incentives get added, price increases a bit, then settles in for a steady decline. If you are selling, I'd wait a few days after it gets listed and then hit the button. Not financial advice of course.
LP.
Third choice for what to do with your fresh new CRBRUS is to add to Liquidity Pools (most likely Osmosis) and farm with them. Just keep in mind the above trends, and be aware that Impermanent Loss can wipe out any farming gains.
Whatever suits your strategy is the best way to go. One thing I like to do is pool early with these coins, and build it up a bit for a while. Then as the APR declines usually around 3 - 4 weeks in, then If it is a token I don't really want in my long term portfolio, I'll unstake it and shift the funds elsewhere.
What's my plan?
Firstly, my drop has been quite nice, with a decent amount of HUAHUA giving me around 1.2 million CRBRUS. This I have staked, across a few validators. What I have done is to set up half of it with our two friends mentioned above, and set that to compound using the REStake service. The other half I am not compounding, and building up liquid funds to LP when that is available. Long term, no idea. Likely I will pool for a while, then move those funds into something on my long term plans, like the OSMO/UST pool for example. These meme's come along, and its worth getting something out of them, without taking it too seriously.
I'll keep a bit, like I'll keep some HUAHUA for the long term, just in case they do a DOGE or SHIBA and go to crazy valuations. But I'm not counting on it, and making sure I make some bank into something more useful.
Did you get Cerberus? What are your plans?
Thanks for reading,
JK
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Posted Using LeoFinance Beta
Making crazy returns using the restate app! Thanks for the mention! Looking to get the Cerberus team and see what we can come up with. Hopefully we will be able to use it for something. Like HUAHUA is getting added as collateral for Comdex.
REStake is awesome, I'm glad you guys are available on it, so I can split between you and Whispernodes.
Using these as collateral for CMDX would be awesome. I'm really hoping that when the synthetics are live, they work on adding Lithium and Nickel asap - dead keen to build some synthetic Lithium in particular.
Will be interesting to see what comes of Cerberus, I kind off hope they don't follow HUAHUA and go down the Metaverse road, and look for a different use case.
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I have a little video on REStake about to drop on 3speak, but I am also trying to schedule a meeting with the Cerberus team and talk marketing and such and that is one thing I was going to ask them because we have the relationship with Comdex.
Thanks for showing WhisperNode and our restake fork some love!
Anyone interested in using it can check it out at:
https://restake.whispernode.com
(lists all the same validators that the main hub, https://restake.app does, to be fair <3 )
Loving the Restake, makes so much sense on these high APR staking coins. Also makes for interesting strategies to compound some of the stake, and then keep other validators not compounding to use that income for other things.
CRBRUS should be on OSMO soon, can't wait to see what price it starts at.
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Oh yeah, REStake has COMPLETELY changed the game, especially for validators. It gives smaller, more active validators a fighting chance against the huge whale validators that don't really engage with the community / have tons of power and money.
CRBRUS APY right now is almost 1100% when restaking every 15m through WhisperNode / another validator running it at the same frequency. Absolutely insane.
OSMO listing should be by the weekend from what I've been told. Mintscan was today, so that was a HUGE leap. I've kept roughly 2M $CRBRUS liquid for day 1 so i can LP + earn a shitload from that. Consider keeping some liquid!
Oh yeah, REStake has COMPLETELY changed the game, especially for validators. It gives smaller, more active validators a fighting chance against the huge whale validators that don't really engage with the community / have tons of power and money.
CRBRUS APY right now is almost 1100% when restaking every 15m through WhisperNode / another validator running it at the same frequency. Absolutely insane.
OSMO listing should be by the weekend from what I've been told. Mintscan was today, so that was a HUGE leap. I've kept roughly 2M $CRBRUS liquid for day 1 so i can LP + earn a shitload from that. Consider keeping some liquid!
This is great. I try my keplr wallet. But I have no airdrops. I stake on hua hua !
When did you stake the HUAHUA, maybe you missed the snapshot? Did you add the Cerberus chain?
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This is great. I added it but no meme coin. I think they are giving airdrop to hua hua first, but I have not staked. I made mistake as it was umee that I staked. The atom and osmosis stakers are later. But that depends on the minimum as I only staked under 1 each of these !
!PIZZA
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