LayerZero Airdrop Strategy: Earn Up to 17% with Stablecoins on Stargate
Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
Last week, we covered Radiant Capital, an omnichain lending and borrowing protocol, where one can deposit collateral on Arbitrum or BSC and then borrow ETH, WBTC, DAI, USDC, or USDT to a different chain. This is possible thanks to an integration with LayerZero.
LayerZero is an omnichain interoperability protocol. It enables messages to be sent between blockchains, or networks such as L2s. With LayerZero, DeFi applications can become cross-chain without forcing users to bridge assets to different segmented markets the way apps like Aave or Curve work. Cross-chain is the future of DeFi and Radiant is appropriately self-described as omnichain because it provides overcollateralized borrowing to many chains, all at once, in one dApp.
Another flagship application for LayerZero is Stargate Finance–a fully composable native asset bridge. With Stargate, you can bridge supported assets like FRAX or ETH between Ethereum, Arbitrum, Optimism, Polygon, BSC, Avalanche, Fantom and Metis. Meanwhile, Stargate liquidity providers which make bridging possible, can farm their LP tokens in exchange for STG rewards. STG commands a fully diluted market cap of just under $900M today.
Today, I’ll demonstrate how I can provide liquidity with stablecoins or any supported asset on Stargate and potentially earn a future LayerZero ZRO airdrop. This airdrop is not guaranteed but it is expected based on what we know about the team and investors behind LayerZero, who would likely favor a token to govern and use LayerZero protocol.
How to Earn Up to 17% with Stablecoins on Stargate
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Sounds interesting!