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This week’s airdrop recap:
USD.AI ($CHIP): Season 2 claims open around Oct 20–22 with no lockup, and Season 3 is live with multipliers up to 15x.
StandX: shutting down. Withdraw first, then check the DUSD airdrop when the checker opens Oct 26.
Fables ($FABLES): launched Oct 20 on Robinhood Chain. Claims close Nov 20.
Papertrade ($PAPER): new minting curve, still can’t be transferred.
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Airdrop Claims 🪂:
USD.AI ($CHIP): Season 2 Claims Open, Season 3 Live
USD.AI lends against GPUs to AI infrastructure operators. You can mint USDai (backed 1:1 by PYUSD) or stake it as sUSDai to earn yield from GPU loan interest.
Season 2 distributes 225M CHIP (2.25% of the 10B supply) to points holders: USDai stakers, LPs and holders. Claims open around Oct 20–22 on Arbitrum, with no lockup or vesting. Unclaimed tokens are forfeited after Jan 31, 2027.
Season 3 runs to Apr 14, 2027, with points reset, referrals removed and multipliers up to 15x across USDai, sUSDai, Pendle positions and CHIP LPs. Its CHIP allocation hasn’t been disclosed.
Official link: app.usd.ai/dashboard
Risk note: The 7% hurdle depends on a finite reserve, not a guarantee. sUSDai has an epoch-based unstaking queue of roughly 30 days and an exchange rate exposed to loan performance. GPU lending carries credit and collateral risks, while leveraged LPs and YT positions add liquidation and expiry risks. Season 3’s CHIP allocation remains undisclosed, and multipliers may change. Use only the official app to claim.
Fables ($FABLES): TGE Today, Claims Close Nov. 20
Fables launches on Robinhood Chain on Oct. 20, with points and PROLOGUE claims open until Nov. 20. Points claims are only available to wallets that saved a selection before the Oct. 19 deadline. Each point converts to 0.08 FABLES, with the final choice determining the payout: 30–60% liquid, 80% as veFABLES with a six-month lock, or 100% as veFABLES with a rolling two-year lock.
PROLOGUE holders can redeem at least 1 liquid FABLES per 40 eligible tokens if they held them in a self-custodial wallet through the Oct. 17–18 snapshot and have not transferred them since. Total supply is 1B, with liquid supply capped at around 75M at TGE. ve(3,3) voting, staking, and emissions also launch today.
⚠️ The selection choice is final, and locking pays more but ties up the tokens. If you miss the window, you can't claim points. The unclaimed 45M cap means the liquid supply is small, so the early price can be volatile. Robinhood Chain is new, so expect liquidity and technical risk around launch. Only use fables.fi. The team has warned against claim links in replies and DMs, and fake claim sites spike on TGE day.
⚠️DISCLAIMER NOTICE⚠️ A note before the next section:
New protocols often offer the most attractive airdrop odds, early TVL, thin-points competition, and generous multipliers. But that same immaturity is exactly what makes them risky.
Smart-contract exploits, depegs, insolvent yield strategies, and outright project failure happen disproportionately in a protocol’s first 3–6 months (we’ve seen it play out with Dango and others in this very letter). Nothing here has a multi-year track record.
Treat every entry below as capital-at-risk, not “free points”. Size positions like you could lose them entirely, and never deposit more than you’re fully prepared to write off.
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Airdrop News/Updates &
Papertrade ($PAPER): Minting Curve Changed, Token Still Non-Transferable
Papertrade revised its minting curve and trading fees on Oct. 19–20, roughly 10 days after launch. PAPER remains non-transferable with no timeline for tradability, leaving staking for USDC distributions as its only use.
The new curve mints about 0.1% of current supply per $1M lost, replacing the previous flat rate and gradually diluting earlier holders. New fees penalize closes within 6 bps of entry during market hours and 10 bps off-hours; the team claims tight-scalp bots face 15x the impact of normal traders, based on its own backtest. Additional contract protections and builder codes are also being introduced through a timelock.
Community reaction is mixed to negative, with some criticizing the changes as rule shifts after losses.
⚠️ Our Oct 10 entry described minting at 100 PAPER per $1 lost under a $2M LP. That mechanic is outdated, so don’t rely on it. PAPER has no market and no transfer path, and dilution now works against earlier holders. The system still depends on Hyperliquid’s price data. Treat any losses as money you’ve already donated to the pool, and check the docs for the timelock announcement before trading.
StandX: Platform Shuts Down, DUSD Airdrop Replaces Token Launch
StandX is shutting down and canceling its native token launch, replacing it with a one-time DUSD airdrop funded by remaining revenue and team capital, with no lockup. The checker opens Oct. 26, claims start Nov. 1 using the same BNB Chain or Solana wallet, and close Dec. 31 at 08:00 UTC. Kaito participants with prior token allocations are also eligible.
Perps enter reduce-only mode on Oct. 20, with remaining positions force-closed Jan. 15, 2027. Final withdrawals and DUSD redemptions close Jan. 31.
Check eligibility when the checker launches, claim before the deadline, and withdraw remaining funds before the shutdown dates. Use only standx.com and verified official channels.
Official link: standx.com
⚠️ A missed claim or withdrawal deadline forfeits your funds. Premarket prices for a hypothetical StandX token collapsed on the news, and there is no token to farm now. Yield programs and new deposits have already stopped. Fake checker and claim sites will appear around Oct 26 and Nov 1, so only use standx.com and the verified @StandX_Official account.
New Opportunities:
Elysium (Kinetiq): Hyperliquid L2 Sets Nov. 9 Mainnet Launch
Kinetiq’s Elysium L2 is scheduled to launch on Hyperliquid on Nov. 9, using HYPE for gas and settling to HyperEVM. The Arbitrum Orbit chain targets ~100 ms blocks and ~300 Mgas/s, with sequencer fees allocated to builders (25%), Kinetiq’s treasury (25%), and KNTQ buybacks (50%). That makes this a value play for KNTQ and HYPE, not a new-token play.
The testnet is live, but no Elysium-native token, points program or airdrop has been confirmed. Testnet activity remains speculative; the project is designed to accrue value to HYPE and KNTQ instead. Initial sequencer centralization, delayed fraud proofs and bridging risks remain key caveats.
Testnet: elysium.kinetiq.xyz
⚠️ Nothing here is a confirmed reward, so don’t size capital for it. The initial sequencer is centralized, fraud proofs come later, and HyperCore integration arrives after mainnet, so timelines can shift. Competition across Hyperliquid-related farms is heavy and liquidity may fragment across new apps. Standard bridge and smart-contract risk applies.
Today’s News Headlines:
Solana Alpenglow upgrade nears activation, 90%+ validators ready
Aptos turns on encrypted mempool for Decibel traders
Hylo raises $1M led by Solana Ventures
Aptos governance approves 10x gas fees, halved staking rewards
Citi calls Aave likely financing layer for tokenized assets
Extended moves settlement from Starknet to Arc on Oct 22
NEAR opens vote to cut issuance from 2.5% to 1.6%
Ethereum Glamsterdam heads to Hoodi testnet Oct 26