My strategy to maximise capital for the OP SuperFest

Optimism’s SuperFest is the perfect way to boost your on-chain footprint on Superchain L2s while earning part of a 1.5 million OP prize pool. But with over 34 quests, it's easy to get overwhelmed and spread your resources too thin. Here’s how I plan to maximize my capital during this campaign:

The SuperFest is a DeFi campaign that spans across 4 networks:

• Base

• Fraxtal

• Optimism

• Mode

Rewards for completing quests:

• OP tokens

• Jumper XP

OP rewards are based on your deposit amount against the entire amount in that pool. Key information for this campaign:

1. Not every quest will award Jumper XP and OP tokens. Rewards are only distributed if they are stated in the UI.

2. Claiming OP rewards makes you eligible for a Superchain wristband for that chain.

3. There is no minimum amount required for each mission.

4. You only need to complete one of the tasks for each quest to qualify for Jumper XP (thanks @katexbt for confirming this).

5. You qualify for Jumper XP after claiming OP rewards. It could take up to 7 days to claim your OP rewards.

These pointers helped me to formulate my strategy for this campaign:

• On-chain footprint

• Jumper XP

• Superchain wristbands

• OP rewards

The OP rewards are based on your deposit amount, so I’m not expecting much as I won’t be putting much funds inside. It’ll be a whale’s game and the return may be disappointing. Since there are over 34 quests to complete, our capital will be spread too thin. I found the best way to allocate my capital with this secret campaign:

Apart from the SuperFest quests on Jumper, there’s a Galxe campaign for some protocols:

Galxe Campaign

These quests involve:

• Bridging >= $30 to each chain

• Depositing into each protocol

I used Stargate V2 wherever possible when bridging between Optimism and Base. Some of these tasks don’t have a minimum deposit except for these:

• StakeStone (0.1 ETH)

• Silo (0.1 ETH)

• Splice ($5)

• Ra ($20)

StakeStone and Silo are my lower priorities as I don’t have much ETH to spare. Here’s my plan to complete these tasks:

• Ignore quests that do not have OP Rewards/Jumper XP.

• Deposit the minimum required for each Galxe task (KIV StakeStone and Silo).

• Put ~ $10 (or less) into the remaining protocols.

• Claim OP rewards after 7 days and withdraw capital.

• Add more capital to positions that did not qualify for the OP rewards after 7 days.

Claiming OP rewards qualifies you for both Jumper XP and the Superchain wristband. Even though there’s no minimum amount to participate in these quests, I’m guessing there’s a minimum OP amount to claim before you’re eligible for the rewards. And it all depends on which pool you deposited into.

Pools with lower TVL would mean you get a larger share of OP rewards even with a smaller deposit. But those with higher TVL would require a larger deposit to qualify for these rewards.

Wherever possible, I plan to deposit on Fraxtal as it has the lowest TVL among all 4 chains. It only has $34 million compared to Base’s $7.54 billion.

Some protocols like Beefy/Balancer are available on all 4 chains. So I’d deposit a small amount (~ $5) on Fraxtal for these quests. But for those quests that are native to Base or Optimism, I’d put in a larger deposit to qualify for the OP rewards.

The quests on Base, Optimism, and Mode are all rather straightforward. So I’ll share what I did for the Fraxtal quests.

Jumper added Fraxtal to its supported networks, but it only routes through Symbiosis, which costs ~ $2. I prefer using @squidrouter as the fees are significantly cheaper (it cost me 0.31 MATIC to bridge 502 USDC.e).

But I’d still use Jumper once for the Galxe quests.

Alternatively, you could consider using Hyperlane and bridge ezETH to Fraxtal:

Hyperlane Bridge

Pointers for Fraxtal:

• Fraxtal uses frxETH (not ETH) for gas fees.

• The native stablecoin for Fraxtal is FRAX.

How I completed every Fraxtal quest for the SuperFest:

• Balancer: Deposit into the sFRAX/sfrxETH pool (single-sided deposit).

  • (I swapped to sfrxETH on FraxSwap).

• Beefy: Deposit into the wfrxETH/sfrxETH pool (Zap feature available for single-sided deposit).

• Curve: Deposit into the FRAX/crvUSD pool (single-sided deposit).

• Fraxlend: Deposit sfrxETH as collateral to borrow FRAX.

  • There’s no minimum amount of FRAX to borrow, so I just borrowed $1 to reduce liquidation risk.

• Ra Exchange: Deposit into the USDC/FRAX pool.

  • I bridged over some FRAX from USDC via Squid and swapped some to USDC before depositing into this pool.

I’ll update you when I’m able to claim my OP rewards, which makes me eligible for both Jumper XP and the Superchain wristband. I aim to collect all 4 wristbands as I believe they’ll make me eligible for a commemorative NFT.

Holding this NFT could have multiple perks in the future, such as a criterion for future Superchain L2 rewards. But again, this is just my speculation and it may not be true.

The SuperFest coincides well with my Superchain strategy, where I want to improve my on-chain footprint on every Superchain L2. In particular, Fraxtal has an ongoing points program and I’ll share more in an upcoming post.

Thanks for reading!

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