SUI: You Can't MISS This Airdrop! 7k Aggregator Best Aggregator on SUI?
Seb Montgomery
4 months ago
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Executive Summary
Here's a summary of the video about the 7k Aggregator on SUI:
7k.ag is a new DeFi aggregator on the SUI blockchain, aiming to be the go-to platform for trading just like Jupiter is on Solana. The main buzz right now is the potential for a significant airdrop tied to user activity, specifically through earning points called "drops" which can be minted into tiered NFTs, potentially leading to a token allocation. It offers core features like token swapping, limit orders, and dollar-cost averaging to find the best trading routes on SUI.
Here are the key topics and details discussed:
- Airdrop Potential: There's strong potential for an airdrop from 7k.ag because it doesn't have a token yet, but it does have a points system ("drops") tied to usage. This setup is very similar to how successful airdrops like Jupiter's have worked, suggesting there could be significant money to be made by using the platform now.
- What 7k.ag Is: It's an aggregator for the SUI network, meaning it finds the best prices and routes for token swaps across different decentralized exchanges (dApps) on SUI. The platform is described as "fantastic" and similar to Jupiter on Solana, making it useful even without the airdrop potential.
- Platform Features (Swap, Limit, DCA):
- Swap: This is the basic function to exchange one SUI token for another. It automatically routes the trade through various dApps to get you the best price.
- Slippage: You can adjust the slippage tolerance, which is the maximum price difference you're willing to accept between when you initiate a trade and when it's executed. A higher slippage is sometimes needed for volatile tokens like meme coins.
- Customized Routing: You have control over which specific dApps the aggregator uses for your swaps, which is handy if you only trust or want to use certain platforms.
- RPC Endpoints: If you encounter issues with transactions, you can switch RPC endpoints, which are basically the servers your wallet uses to communicate with the blockchain. This is similar to features found on other aggregators.
- Limit Orders: This feature lets you set a price you want to buy or sell a token at in the future, rather than trading at the current market price. You can specify the target price, the amount, and set an expiry date for the order (up to 90 days).
- Limit Order Bugs: Note that there have been some temporary bugs when placing limit orders, which can be frustrating. However, trying again usually works. The presence of minor bugs is seen as a sign you're getting in early.
- Pro Mode (Limit Orders): There's a "pro mode" for limit orders that includes charts and indicators if you want to do technical analysis before setting your price targets.
- DCA (Dollar-Cost Averaging): This is a strategy to invest a fixed amount of money regularly over time (e.g., buying $50 of SUI every week) instead of buying a large amount at once. It's considered a great way to enter a position in an asset you're bullish on.
- DCA Configuration: You can set the total amount to invest, the token to buy, the frequency (like every hour), and even minimum and maximum price limits. Setting minimum prices is especially useful for meme coins to stop buying if the price crashes below a certain point.
- DCA Limitations: There's a minimum order amount of $5, which limits the maximum number of orders you can place based on your total investment amount (e.g., $250 total with $5 minimum per order means max 50 orders). The crypto for the DCA plan is held in escrow until the orders are executed.
- Referral System: There's a referral system you can use to invite friends to the platform after signing up yourself.
- Drops and NFTs:
- "Drops" are points you earn for using the platform, primarily through trading volume.
- You use drops to "mint" (create) different tiers of NFTs. The more drops you earn, the higher the tier of NFT you can mint.
- These NFTs are key because they could potentially entitle you to a future token airdrop. The goal is to accumulate as much trading volume as possible to earn more drops and get a better NFT tier.
- Trading Volume vs. Cost: It's important not to trade just to get volume, as you'll lose money to trading fees and slippage. The strategy is to trade when you actually want to trade and accrue volume that way, buying low and selling higher if possible.
- The leaderboard shows users with very high trading volume, indicating the scale needed for top NFT tiers.
- Fun Mode:
- This is a feature similar to pump.fun on Solana, allowing anyone to launch a meme coin quickly on SUI.
- Putting volume through Fun mode also earns you drops.
- It's noted as being much riskier than using the core swap/limit/DCA features.
- Fun mode has some "very clever" features for token creators, like customizable lock-up periods for initial supply based on the amount of SUI contributed (the "Trust me, bro" feature locks coins for a period).
- While functional, Fun mode hasn't achieved the same level of success as pump.fun yet.
- Platform Volume: 7k.ag is seeing significant trading volume. Daily volume is around $36 million, weekly is sizable, and monthly volume has reached around a billion dollars at times. This volume has grown considerably, especially recently, which indicates active usage and potential.
- Social Media & Information: Following 7k.ag on Twitter is recommended for updates and chances to win NFT giveaways. They also have Medium articles explaining features like the Fun mode and the Droplet NFTs in more detail.
- The Team (Seal Labs): The platform is created by a company called Seal Labs. While they list 20 associated members, mostly seemingly based in Vietnam, Seal Labs claims to be a Singaporean startup. The actual identities of the core team members are not publicly clear on platforms like LinkedIn. This lack of public identities is mentioned as a point of transparency but is also noted as being "quite often the case in crypto" and not necessarily a "red flag."
- Overall Takeaway: Using 7k.ag is highly recommended, not just for the potential airdrop, but because it's a good platform that saves you money by finding the best trading routes on SUI. It's worth getting involved to both use the platform effectively and position yourself for a potential airdrop.
Transcript
Transcript
It is potentially airdrop time over on Sui. I'm going to show you an aggregator that could potentially take over all of Sui. Let's dive in. This is 7k.ag. They do not have a token yet. They've got a points system to accrue points via an NFT, which could potentially give you a token. Now, if you're familiar with Jupiter over on Solana, you can definitely see that there is definitely some money to be made out of this. Plus, it's a fantastic app, similar to Jupiter. It's fantastic. So you want to using it. You want to use it anyway. Let's dive in. 7k.ag is a website. We've got three different options here, similar to Jupiter. Swap, limit and DCA. We'll go over those. And it is an aggregator. There's a couple of other modes. We'll go over them shortly. So we'll come up and connect our wallet. I'm going to connect my Sui wallet, but you can connect whatever wallet you're using. And the swap function is very, very simple. Toggle this in the middle to change whatever it is we want. We've got other tokens in here. I've got some original WUSDC. Maybe I want to go and swap this into some Sui tokens. We've got our slippage setting up here. So maybe setting it custom to 0.5, but you can make it bigger if it's a meme coin play or something like that. And go ahead and swap. Click the swap button. And then we're going to approve the transaction. It will go through multiple different routes, whatever gives you the best. But if you want to specifically find only a couple of dApps that it was going to go through, come down to the settings down here. And then come up to the top here. You can see customized routing. Just toggle that on and toggle off what you don't want to actually be part of it. Maybe you only want to use Bluefin, DeepBook and Kriya. If so, so be it. There's a couple of other things as well that you may want to use, like RPC endpoints. If you're having issues, you may want to flick over to a different one. Basically pretty similar to Jupiter and Samana, to be honest. The next option we'll go to is limit. We've got some WUSDC. Maybe we want to go and put in like, say, $100 if the price drops down like considerably. So like, if it drops down to like $2.05, which you can see is 15% less, then we'll go and buy $100. This has a seven-day expiry. We'd approve that and it would go down to open orders. Or we could keep this going longer. Maybe we think it will go down later. You can't really time, you know, you can't catch nines. You can't time bottoms. You can't time tops. But you can do it like this if you want to, to try and, you know, catch a different level of support. We could also go and flick these two. I'll change this back to normal USDC. And maybe we want to go and take 10 sui, flick this over. And when it reaches, say, $13, which may happen this cycle, may not, we set our expiry. Maximum is 90 days. We can go to the custom setting if we want like 88 days, six hours and 15 minutes or whatever it is we want. But 90 days is the max. And then we can place order. And this will be definitely a profit. Of course, it will sit there until it's actually ready to fire. Now, one good thing is there are a couple of bugs when placing these limit orders. I say good thing is because that's how you know you're in something quite early. I've had a little bit of issue here with these going through, which is a little bit frustrating. But if you try again, it will work. So on this, for 30 days, I don't think we're going to go to $13 in 30 days, but I'm just showing you how it looks. Then down below here, we can see our open orders. These are our open orders. And if we want to go ahead and cancel it, we click on it. Yes, I want to cancel. We can cancel that. We've got this other option down here, which is pro mode. Check it out if you want to see a chart, add some indicators, try and work out, you know, where is the actual level of support. This is on the one hour chart. And maybe we can flick it over to four hours. We won't go too in depth here. But you may want to think if we get down to like a wick around $2.03, that's when I want to buy. In which case, you can do that. Our next option is DCA. DCA is a great way to enter into a position that you're bullish on. If you're bullish on a meme coin over here, if you're bullish on blue or send or whatever it may be, you can do so like this. We're going to take $250. We want to buy SUI. We want to buy it maybe like every hour. And we've got minimum prices and maximum prices, which I think is good. I don't want to spend over $4. And minimum, I'm quite fine with anything. However, minimum is really good if you want to buy a meme coin, you think, okay, this has longevity until it reaches this level. If it doesn't actually rebound from this level, well, then I don't want to buy anymore because you think it's gone and finished. We're going to do this over say 100 orders, but we do have a minimal amount of $5. So that's just keeping that in mind. So we can do a maximum of 50 orders here. And if we try 51, we can see that. So that's just something to keep in mind. We'll go ahead and confirm. This is going to be kind of escrowing the crypto and it'll be going ahead, similar to Jupiter and buying once every hour over the next 50 orders. So that's pretty similar to Jupiter. It's pretty similar to many aggregators out there, but it's working on SUI. It's finding the best prices, which is perfect for you. They also do have a referral system. So I'll have my referral code below and make sure you click on that, sign up using that. And then of course you can go ahead and give that referral code all your own to a friend, by all means. We've also got some drops down here, which I'll go over shortly. You click on use drops to mint NFT. And I do not have enough right now, but there's different NFT levels here. The more drops you can get, the better. Keep in mind though, if we have a look at the leaderboard, you're going to see that the people with a whole lot of drops, they have a very, very decent amount in volume. And we don't know what these are going to be worth because at present, there's no monetization on 7k.ag. There may be monetization in some forms, but nothing like Jupiter. However, all those fee switches can be turned on once there's enough people actually using it. So that's how you use that. Obviously the goal is get as much swap, swapping volume as you can. But keep in mind that you don't just want to swap for the sake of swapping because you're going to lose out to slippage and trading fees and all that sort of stuff. But if you are wanting to buy something, if you can buy it low and sell a little bit higher, if you know a little bit of TA, if you've got a solution, if you can try and get a little bit of volume accrued, that could be pretty damn decent. And then you can go and mint that NFT. The other thing I'll show you is fun. Fun is kind of like pump.fun. It's a meme coin launcher. Go ahead and you connect your wallet. And if you put volume through this, you get more drops. But of course, there's a whole lot more risk here. They've got a couple of different settings, which are very, very clever though. If you are going to go and create your own token, you've got a couple of settings with regards to the lock. So if you go here, putting all the tickers. Trust me, bro. It means that coins bought with the first 10% of SUI. If we have a look here, you can see, trust me, bro, coins bought with the first 10% of SUI will be locked for three days. And trust me, 30% of the SUI, 50% of the supply, will be locked for three days. Come back here and you can see this here. Trust me, bro. And I believe it is locked for three days. It looks kind of fun. It's meme coinery. There's not a whole lot of graduating tokens. So, you know, just be mindful of that. I'm more keen on just SUI buying low, selling a little bit higher, buying low, selling a little bit higher, having a look at some ecosystem coins in general. But you do want to get some volume through here, if at all possible. Now, the next thing I want to show you is the volume that it's actually doing. This is via DeFi Llama. So you can see the 24 hour volume is like 36 million. And then if you look at weekly, it's pretty sizable. Monthly, it's right up there, around about a billion at times. And cumulatively, it has been growing and growing and growing, especially in the new year, to be perfectly honest. Now, if we have a look at their Twitter, worth a follow for sure. They're giving away some droplet NFTs, which could be worth something pretty decent if they manage to monetize and create quite a bit of hype around their protocol, which is certainly worthwhile. Interestingly, they do have the gold tick, but they don't have any affiliates. So I can't actually see who's in the team. I'll go over that in a second. Now, if you want more information on 7k fun, then you can read this. It's all the way from November 22nd. Hasn't achieved the same kind of success or even anywhere near as pump.fun, but it's still, you know, something that has product market fit for sure. And if you want more information to read up on the droplet NFTs for an adventure of a lifetime, have a read through this. This is a month, month old. You've got different tiers and you definitely want to get on it. You can also go and buy the actual NFTs itself. It shows how many drops are needed. This is all the information. Have a read when you're keen. Finally, regarding the team, it's created by Seal Labs, but I just don't know who these people are. All I've found thus far, just to be transparent, is that I have 20 associated members. They seem to be all in Vietnam, but Seal Labs says it's a Singaporean company or startup, but there's nothing about like who they actually are. Who are these people? I just can't see that. So just letting you know. That's not a red flag to me. This is quite often the case in crypto, but just putting it up there. Anyway, that's 7k aggregator. I think it's worth getting into. I hope you get a nice, decent airdrop. But in general, this is going to save you when you're trying to find the best route to get your SUI tokens, regardless. SUI tokens or anything on the SUI network. Thanks for watching. Make sure you subscribe. Check out these other two SUI videos over here.