ZeroLend is running an airdrop campaign where PYTH and MANTA stakers are also eligible for the $ZERO airdrop. Their TGE is set in early Q2 and 10% of the $ZERO’s circulating supply on launch will be allocated to participants. Here’s what you need to know.
What is ZeroLend?
ZeroLend is a lending and borrowing protocol that first launched on zkSync and has quickly become the leading lending market on zkSync. With deployments on Blast, Linea, and multiple other chains, ZeroLend is making waves in the decentralized finance (DeFi) space.
ZeroLend is currently leading the lending market on zkSync making them the second overall most TVL. In terms of tokenomics, ZeroLend has a total supply of 100 billion $ZERO tokens. Currently, they confirmed that 3% is allocated to airdrops, with participants set to receive 10% of Zero’s circulating supply on launch based on accumulated points. The more points you have, the more airdrops you will get.
According to Discord moderators, the launch is set for early Q2, likely in April. This means the airdrop campaign is currently underway. It’s smart to take advantage of this opportunity now. Collect as many points as you can to increase your chances of getting the $ZERO airdrop.
While this project is pretty reputable, its value is only 25 million. In terms of dilution from airdrops, it’s not a big concern. There are 338,000 ZeroLend users in total but daily, there are 5,477 active borrowers who regularly interact with the platform.
Step-by-Step Guide to Get the Airdrop:
1. Stake $PYTH or $MANTA
If you’ve staked $PYTH or $MANTA, you’re already eligible to claim $ZERO points.
Staking $PYTH: $PYTH is already on the Solana Blockchain so you will need a Phantom or Solana wallet to stake your $PYTH.
Go to Pyth Network. At the “Profile” section, enter your EVM address, click “SUBMIT”.
Deposit and stake PYTH. Each $PYTH staked you will receive 1 PT.
Wait for 7days, then your staking position will activate, and you will be able to claim the points.
Staking $MANTA: Go to Manta Network connect your EVM wallet. If you have at least 500 $MANTA and you have been staking on Manta Atlantic then you’ll be able to claim Manta staking points.
If you don’t have 500 $MANTA for little as one $MANTA token you can actually stake on Bifrost-Polkadot. Got to Bifrost, then bind your EVM address so that the different chains can communicate and you’ll be eligible for rewards.
However, after you have staked your $MANTA tokens you still won’t be able to claim the points because you will need to move it to Moonbeam. To do that, go to Moonbean Parachain Bridges, connect your wallet that binds with the EVM address. Click “Connect Wallet”, then connect and approve at Metamask wallet.
Select vMANTA in the Token box. Then connect your Polkadot wallet or Bifrost-Polkadot wallet.
Bridge over your vMANTA to Moonbeam. The fees are going to cost 0.2 Bifrost ($BNC) token.
If you don’t have BNC tokens, head back to Bifrost Network app, go to “Swap”. You can use either the vMANTA or Polkadot token then swap it for BNC. Once you have 0.2 $BNC, go back to Moonbeam network then you will be able to bridge.
Check your transaction at Bifrost-Polkadot Explorer, make sure that the result is successful. Once you see the GREEN tick, you will be able to see your vMANTA is already on your Moonbeam.
2. Supply Assets
Consider supplying assets on ZeroLend to earn yields and qualify for the airdrop. The more assets you supply, the more points you can accumulate.
Head back to the Zerolend app, select any assets you have. If you have any leftover assets, then you can supply here to earn some yields to get the airdrop.
In order to do this, if you have leftover assets, click that asset then supply. Once you have supplied you will receive zero amount of that asset. So it’s basically the Zerolend version of that asset.
Once done, go back to Renew Paradigm. On the bottom right part, select your Zero version of your asset then click “Stake”. You’re essentially earning yields on two different protocols.
On top of the airdrop, you will get for Zerolend and you can also get the airdrop from Renew Paradigm. So that’s already four airdrop allocations that you could qualify for all!
3. Borrow Assets
Borrowing assets can also earn you points, but be mindful of the associated risks, especially the fluctuating borrows APY. Active management is key here.
4. Join the Discord Guild
By supplying assets and actively participating in ZeroLend, you can qualify for various roles within the Discord guild, each offering unique benefits and rewards.
Regardless of your experience level in DeFi or airdrop farming, ZeroLend provides an opportunity for all users to engage with the platform and potentially benefit from the upcoming airdrop. Remember, strategic asset management and active participation are crucial to maximizing your rewards.
Join the ZeroLend community today and start your journey towards claiming valuable $ZERO tokens through the upcoming airdrop!