Milky Way Restaking Revenue, $MILK Points And The Testnet

about 2 months ago

It looks like I will have a glass of cold milkTIA at Sunrise! Keeping in mind that my previous interaction with the Cosmos ecosystem was null, I had to read and take on-board a huge amount of information. I discovered MilkyWay and dived into $milkTIA, as an option where I could stake my assets while retaining liquidity.

The most important part? You earn mPoints and gain rewards, as you climb the leaderboard. MilkyWay announced that the point system that will be the stepping stone for the the $MILK airdrop. Let's milk it and secure a nice allocation!

What I like about the Cosmos ecosystem, is that chains and protocols are inter-linked. So are the airdrops! The $milkTTA holders will be eligible for the $RISE airdrop! The Sunrise campaign will allocate 7% of the total supply to various holders and DeFi users.

The snapshot will include the Gluon community and ecosystem, users of the interchain (IBC) ecosystem, Celestia stakers and the users of the Berachain ecosystem. I was happy to hear this as the $RISE Wave 2 will include $TIA stakers, $milkTIA and $stTIA holders.

How to earn more $MILK points? You can dive into DeFi with liquidity pools on Osmosis, where the $milkTia/$TIA pool has has deep liquidity and good rewards. Or you can check Quasar Finance where the dynamic S+ vault has a stablecoin oriented concentrated liquidity pool! The strategy dynamically updates the range at which liquidity is provided to optimize yield potential!

What's the MilkyWay secret? The stakers of MilkyWay's Modular Restaking can benefit in 3 stages. There are multi-dimensional yields, as stakers minting milkTIA and milkINIT will continuously receive native staking reward APR of the ecosystem. The $TIA yields are at 10.25% APR, which milkTIA users are not missing out. The same strategy will be used for milkINIT users.

Restaking Pools have extra benefits! On top of liquid staking APR, restakers can potentially benefit from fees from AVSs secured by MilkyWay. More surprises for the milkers, like airdrops of AVSs native tokens or exclusive INIT rewards! There's a full glass for everyone!

Liquid Restaking Tokens are also on the roadmap! The restaked tokens can mint LRTs via milkINITIA, which will continue to yield the above rewards, as well as the ability to be used in other protocols, for example use them for lending or LP in a pool. DeFi got enhanced!

My MilkyWay journey is sweet, enjoying it one sip at a time! I am not a whale on Cosmos, so all the $milkTIA comes from a slow process of claiming and steaking $TIA! I don't have much $TIA either, so all I can add is 0.5 $milkTIA per month!

It's not amazing but at least I am working towards the airdrop! The perseverance was rewarded when multipliers where added, and I was eligible for some of them. Wasn't able to spell M.I.L.K with my carton but 3 out of 4 is not bad either. I assume they will count towards the final allocation!

My points are slowly building up, as I have some LP and standard $milkTIA. MilkyWay always finds new ways to keep in entertaining, and the Milklympics was a fun way to earn some extra points. I forecasted that France will have more medals than Great Britain and earned 4 extra points when my bet was settled.

Testing the MilkyWay Initia Testnet game me a good boost, adding 200 milkPoints to my account. Initia is a layer-1 blockchain built on the Cosmos SDK and powered by Optimistic Rollups. It is designed to be a scalable and efficient platform for dApps! Traditional blockchains, such as Ethereum, can be slow and expensive to use. Initia addresses this challenge by using Optimistic Rollups.

What's next? Let's dive into INITIA, a network for interwoven rollups. Binding a highly interwoven system of modular networks through architectural ownership. The public testnet is open, and has weekly tasks and a nice gamification added on top!

Optimistic Rollups work by batching transactions together and submitting them to the main blockchain. The transactions are then verified by a network of validators. If there is a dispute, the transactions are submitted to a dispute layer for arbitration. This process allows Initia to process transactions much faster than traditional blockchains.

The MilkyWay Testnet was built on Initia, and I was able to cliaim milkINIT and gas. This was possible only after I've reach 500 points on Cosmos, and had it's on benefits. I received 200 milk points and was able to stake on testnet. This two will add some brownie points towards the airdrop!

MilkyWay is one of those airdrops that makes us wait, but hopefully will be a good one! I am slowly adding points, and climbing in the global ranks. At the moment I entered to top 100,000, thanks to the bonus points I've got from the testnet exploration.

Will 825 points be enough for a sweet airdrop? Time will tell! You know what? I don't even care! I had a good time exploring MilkyWay, and I've learned a few things along the way! That's all that matters!