Nostra is a comprehensive cryptocurrency platform, or “Super App,” that is built on the Starknet network. It offers users a wide range of services, including the ability to lend, borrow, swap, and bridge cryptocurrencies. The core vision of Nostra is to create a future where managing crypto assets and transactions is straightforward and centralized through a single platform.
This defi platform aims to make the crypto experience simpler and more trustworthy. Nostra’s mission is to significantly simplify the current crypto user experience, which is often fragmented and complex, to facilitate the adoption of cryptocurrencies by the next 1 billion users. By providing a unified solution for various crypto needs, Nostra addresses the issue of the current proliferation of apps with varying levels of security and features, aiming to streamline and enhance the overall user experience in the crypto space.
Nostra aims to establish itself as a comprehensive hub on the Starknet Layer 2 blockchain, serving as a decentralized exchange akin to Uniswap, a lending platform comparable to Aave, and a venue for DeFi farmers to generate yield by providing liquidity.
The platform has rolled out a points program to incentivize early adopters, which may potentially serve as a basis for distributing Nostra tokens through an airdrop in the future. In this discussion, we will explore the various ways to accrue points on the Nostra app and position yourself to benefit from a potential Nostra token airdrop.
What are Nostra points and how can you maximize earning them?
The Nostra Points Program is a rewards system designed to incentivize and recognize the on-chain activities of its users within the Nostra ecosystem, a crypto Super App powered by Starknet. The program allows users to earn points through various actions related to lending, borrowing, providing liquidity, swapping, and referring new users to the platform.
Here’s how you can maximize your points on the Nostra app:
Lending and Borrowing:
- Lend stablecoins or volatile assets. Lending stablecoins earns you 1 point per dollar daily, while lending volatile assets earns 2 points per dollar daily.
- Borrow stablecoins or volatile assets to earn more points: 4 points per dollar daily for borrowing stablecoins and 8 points per dollar daily for borrowing volatile assets.
- The points are calculated based on the lowest balance of the day if withdrawals occur.
Duration Multiplier:
The longer you lend or borrow assets on Nostra, the more points you’ll accumulate, thanks to a weekly duration multiplier formula: 1+10%×number of weeks.
Yield Multiplier:
Receive a 10% bonus on points by lending the asset with the highest supply APY and borrowing the asset with the lowest borrow APY. Doing both concurrently earns a 20% point increase, provided those assets remain the highest/lowest-yielding.
Referral System:
Refer new users to earn 10% of the points they generate. If your referee becomes a referrer, you earn 10% of their 10% earnings. Using a referral code grants an additional 5% lifetime bonus on points.
Liquidity Provision:
Provide liquidity to earn points daily, with the amount depending on the pool type: 2.5 points per dollar for stable/stable pools, 5 points for volatile/volatile pools, and 10 points for volatile/stable pools.
Points are calculated based on the lowest balance if liquidity is withdrawn during the day.
Liquidity Multiplier:
A multiplier is applied for providing liquidity in multiple pools, up to a maximum corresponding to the number of available pools, enhancing your total points.
Bootstrapping Campaign Multiplier:
An early-bird multiplier is available for the first two weeks from the launch of a Nostra Pool, starting at 5 and linearly decreasing to 1 over 14 days.
Swap Points:
Execute swaps directly via Nostra Pools to earn 200 points for every $1 fee generated for the pool.
Alpha User Bonus:
Early users who had deposits on Nostra Alpha by 1 November 2023 and used the latest version get an additional 10,000 points.
To maximize points, engage in a combination of these activities, focusing on long-term lending and borrowing, participating in liquidity provision across multiple pools, referring new users, and taking advantage of the yield and duration multipliers.
The program rewards users based on their contribution to the ecosystem, encouraging both active participation and the growth of the Nostra community.
Will Nostra have an airdrop?
While there’s no definitive confirmation of a future Nostra airdrop, the existence of a points system could suggest the possibility of one. The timeline for when Nostra might distribute airdrop tokens remains uncertain, as there’s a typical window of 6-12 months from the implementation of a points system to when rewards are typically distributed to users.
Should you farm Nostra airdrop?
Participating in the Nostra airdrop farming might not be advisable if you’re not in a position to invest and hold assets like ETH, STRK, BTC, or similar cryptocurrencies. My analysis suggests that the years 2024 and 2025 could witness a bullish market; however, there’s always a risk that the token’s value could plummet by over 90% if market conditions deteriorate.
If you possess tokens that you intend to keep over the long term, you might consider deploying them on the Nostra app to farm. While lending on Nostra is generally considered low risk, apart from the inherent smart contract risk, it’s crucial to assess your financial stability and risk tolerance before engaging in airdrop farming.
If you’re looking to gain exposure to the Starknet ecosystem, engaging with Nostra presents a valuable opportunity. It’s worth noting that the Starknet community has also hinted at additional rounds of airdrops. Therefore, by interacting with the Nostra app, you might position yourself to receive STRK tokens in future distributions.
My personal experience with Nostra
I have got 500 STRK tokens, and I have lent 250 of those STRK tokens on Nostra app. I have added another 250 tokens in another app. If you think this guide helped you, you can support us by signing up on Nostra app with our referral link (referral code: 65r4juubat)
My engagement with Nostra is driven by the anticipation that the benefits will extend beyond the Nostra airdrop to include an STRK airdrop as well, rewarding contributions to the ecosystem’s growth. As of February 23, 2023, Starknet boasts a Total Value Locked (TVL) of $137 million, with Nostra accounting for $44.59 million of this. This positions Nostra as the second-largest dApp by TVL on Starknet, trailing only behind ZkLend.
