Original author: Leshka.eth

Original translation: TechFlow

The bull market short season is ongoing, and so far, I have received $120,000 worth of airdrops.

There are now 2 possible next airdrops: Backpack and Hyperliquid. This article describes my strategy in hopes of getting the $HYPR and $PACK airdrops.

Backpack is one of the fastest growing exchanges on the Solana blockchain, with its own wallet and OG NFT collection called “Mad Lads.”

Backpack has attracted $37 million in investment from Wintermute, Placeholder, Robot Ventures and other leading funds.

Recently, Backpack exchange conducted several airdrops for users who actively trade on the platform. Users received different amounts of:

  • Wormhole：$W

  • Tensor: $TNSR

  • Parcl:$PRCL

We will hedge our positions on Hyperliquid, using a delta neutral strategy to ensure zero losses, paying only platform fees.

This way we can achieve interaction on both platforms and get 2 airdrops at once.

We first need to complete the registration process on Backpack.

  • Visit the link to register: https://backpack.exchange/refer/c9d363fa-6577-4cf3-8f37-52afdcef656f

  • Connect your wallet

  • Conduct KYC certification

After this, you will be able to deposit funds into your account and start trading.

After this, we can proceed with our HyperLiquid deposit:

  • Go to the website: app.hyperliquid.xyz/join/LESHKA

  • Connect your EVM wallet on the Arbitrum network

  • Deposit funds into your account

To minimize risk, we will open a position with 1x leverage:

  • Open a short position on HyperLiquid with any token

  • Buy the same token for the same amount on Backpack

You won’t lose any tokens on a dip, nor will you gain proportionally on an uptick, you’ll only incur fees.

If you want to increase your trading volume on both exchanges, you can use greater leverage in HyperLiquid

To balance your position, buy back tokens on Backpack that are equal to the size of your short position.

We will be deploying two tier one airdrops with minimal fees, each of which will trade over $1 billion and thrive in their respective fields. We still have three weeks to accumulate HyperLiquid Points to qualify for the upcoming Backpack Season.

Original link