Arbitrum Odyssey Week 2 Mission Yield and GMX

KingData Β·2022-06-30

The second week of Arbitrum Odyssey started on June 28, with two projects, Yield Protocol (lending protocol) and GMX (decentralized perpetual exchange).

[Project 1 Introduction - Yield]

Yield Protocol is a fixed rate lending protocol

Financing background: In June 2021, announced the completion of $10 million financing, Paradigm, NEXO, Variant, etc.

  1. Use borrow mortgage ETH about 0.12 to lend 100USDC to complete the task (steps 1-5).

  2. Or add more than 50 USD liquidity to the pool POOL (step 6).

  3. Or use LEND to borrow more than $50 to the platform (step 5).

You can use any of the above three operations to complete the task and get NFT. If you want to blog about the future airdrop of this project, it is recommended to do all three steps, and the cost and operation are relatively simple.

  1. First switch the little fox wallet to the Arbitrum network. If it is used for the first time, it can be added by one-click search through chainlist.defillama.com.

2: Borrow (borrow)

Go to the official website and connect the wallet. Currently, only ETH and DAI are supported as collateral, and the types of collateral are still relatively small. Get your collateral ready. The minimum loan amount is 100u, click to enter the next step.

  1. A new page will pop up, select the collateral currency. For example, if you borrow 100U, you will need a minimum mortgage of 0.112 ETH. There is a risk of liquidation, so it is recommended to pledge more. Brush the airdrop and go through the process.

  1. Confirm various data, complete mortgage and loan.

5: LEND (loan)

Lend DAI or USDC to earn yield. The lending threshold is 100U, there is no deposit time limit, you can withdraw or deposit at any time. Again, redemption needs to be done after a set time before the reward will be awarded.

  1. Pool (liquid pool): Like lending, the deposited funds are used to maintain the operation of the protocol, and they can be withdrawn after a specified time to obtain benefits.

  1. Withdrawal of liquidity

[Project 2 Introduction - GMX] Decentralized Perpetual Exchange

Participants are required to complete all three of the following tasks on the GMX platform:

Open leveraged trading at https://gmx.io/trade

Exchange at https://gmx.io/trade

Buy GLP at https://gmx.io/buy

  1. Leveraged trading: It is to go long and short. It is recommended to choose the lowest leverage. There is no specific amount required. It is recommended to be greater than 20 US dollars, which can be opened and closed quickly.

  1. Carry out asset exchange; the recommended value is more than $20.

  1. Click to buy GLP, you can sell it after 15 minutes. The recommended value is greater than $20+.

The above tasks are all completed on the Arbitrum network. After completing these three steps, you can get NFT at https://galaxy.eco/arbitrum/.

These are the two tasks for the second week of Arbitrum.Remember to claim the second week of NFTs later! !

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