Potential Airdrop from LayerZero Labs 2/2
Now, let's dive into the second part of the article. I hope you found the first part informative and engaging. If you've followed the steps outlined earlier, you're already on your way to optimizing your positioning for the potential ZRO token airdrop. Now, let's continue with the remaining steps to ensure you maximize the potential benefits of this opportunity.
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Step 8: Vote for proposals on Stargate’s Snapshot (*)
Step 9: Create proposals on Stargate’s Snapshot (optional)
Step 10: Create and bridge an NFT on Holograph (*)
Step 11: Perform a transfer of BTC.b on Borderless Bitcoin (*)
Step 12: Explore and interact with other LayerZero-powered dApps (*)
Step 13: Join their social media (This is a one-time occurrence)
*Mandatory tasks that should be repeated weekly; more info in the analyst opinion section
Estimated time for the second part: 30 minutes
Let’s dive deeper into the remaining steps.
Vote for proposals on Stargate’s Snapshot
Anyone holding any amount of STG tokens can participate in the voting process after staking / locking the tokens and receiving the governance token veSTG (Step 2). However, at the time of writing this guide (June, 2023), there are no open proposals available for voting. Occasionally, you may find all proposals listed as "Closed," meaning the voting period has ended, and you'll need to wait for new ones.
No proposals available for voting at the moment
Create proposals on Stargate’s Snapshot (optional)
Not everyone staking the STG tokens can create proposals, as the minimum requirement to do so is a balance of 50,000 veSTG. So, for example, someone with 25 veSTG will be able to vote on a proposal but not create them.
For those who meet this requirement, creating a new proposal is as easy as clicking on "New proposal" button. You'll then need to fill out a few fields, such as the proposal title and its description.
If you're intrigued and wish to delve deeper into the intricacies of Stargate’s governance, we recommend you visit the Stargate Finance Governance page. Here, you'll find comprehensive documentation offering in-depth information on how it all works.
Creating a new proposal
New proposal form
Every STG token staker can participate in proposal voting. It's important to note that the more STG tokens you stake, the greater your influence in terms of on-chain voting and decision-making processes.
Create and Bridge an NFT on Holograph
Holograph is a protocol for creating and moving holographic assets on any blockchain. Holographic assets include fungible tokens (hFTs) and non-fungible tokens (hNFTs) that maintain the same contract address and token ID across different blockchain networks. This allows them to be seamlessly transferred between blockchains while preserving their history. Holograph utilizes LayerZero for cross-chain message passing, enabling communication between blockchains. The Holograph Protocol manages the critical business logic of the protocol itself.
So, to create an NFT, or a collection, follow the next steps:
- Visit Holograph and make sure you connect your wallet to the platform
- Go to “Create” and “ Single NFTs”
- Then, click on “Create Collection”
- Fill in the Collection Details such as Collection Name, Collection Symbol and Royalties Percentage (the percentage of the sale amount that you’ll receive when an NFT in that collection is sold). When an NFT is sold, the Royalties page will enable you to view and withdraw your royalties on a per collection, per network basis
- Click on the “Save” button
- Then, click on the “Deploy” button
- Select the network to deploy on - the available networks are Ethereum, Polygon, Avalanche, BNB Smart Chain, Optimism and Arbitrum
- Then, click on “Deploy” again and confirm the transaction by following the on-screen instructions from your wallet device
- Now, choose the “Deploy Again” option - it should be on another network for the bridge
- Then, click on “Deploy”
- Next, click on “Create NFTs”
- Click on “Create NFT” again
- Now, fill in the details of the NFT such as creator name, NFT name, description, and also make sure to upload the media you will be using for the NFT creation
- Then, click on “Save”
- Next, click on “Mint” and then on “Confirm”
- Congratulations: you have successfully minted your first NFT
- The last thing to do is click on “View on OpenSea,” which will confirm you the successful minting of your NFT(s). You will then be able to see it/them on the OpenSea platform
To bridge your NFT, follow these steps:
- Go to the “Bridge / NFT Bridge” section
- Select the initial and final networks
- Then, select the NFT to bridge
- Click on “Continue”
- Now, click on “Bridge”
- Next, click on “View Bridge on Explorer”
- Congratulations: bridging your NFT has been completed, and you can verify it by checking the “Bridge Explorer”
-A comprehensive guide is available if you need step-by-step instructions on how to create and bridge your NFT
- Remember, to bridge your NFT to any network, your collection must first be deployed on that specific network
Creating your NFT collection
Collection details form
How to deploy your NFT collection
Final deployment of your NFT collection
Deployment on another network for the bridge
Deploying again using different network for the bridge
Deployment on another network successful
Creating NFT details
Minting your NFT
Check minted NFT on OpenSea
Your first NFT successfully minted
How to bridge your NFT
Selecting the available NFT to bridge
Bridging the NFT
Bridging confirmation on the Bridge Explorer section
Perform a transfer of BTC.b on Borderless Bitcoin
Borderless Bitcoin leverages the LayerZero Omnichain Fungible Token (OFT) standard, facilitating the seamless and efficient transfer of bitcoin across all LayerZero-supported networks. This standard ensures that the bitcoin coins are compatible and operative across different blockchains, eradicating any potential issues or constraints.
To start, navigate to the Borderless Bitcoin page and connect your wallet. You have the option to connect your wallet through an EVM compatible wallet such as MetaMask, Core Wallet and Coinbase Wallet or any other non-EVM wallet such as Pontem Wallet, Fewcha Wallet, Martian Wallet and Petra Wallet. After successfully connecting your wallet, the first requirement for transacting BTC.b is, naturally, that you have BTC.b in your wallet. BTC.b is a wrapped version of bitcoin on the Avalanche Network, and is now an OFT thanks to LayerZero, meaning it can be transferred quickly and securely not only between Avalanche and Ethereum, but also to Polygon, Arbitrum, Aptos, and any other blockchain supported by LayerZero.
To acquire BTC.b, click on the “GET BTC.B” button. This will redirect you to the Core Beta page - an all-in-one Web 3.0 command center that supports various blockchains, including Avalanche, Bitcoin, Ethereum, and other EVM-compatible chains. Core Beta allows users to purchase, swap, and bridge cryptocurrencies and collect NFTs.
To secure your BTC.b, go to the “Swap” section. Decide on the amount of AVAX coins you wish to exchange for BTC.b tokens and hit "Swap." Follow the instructions presented by your wallet, and there you have it - your BTC.b tokens are ready for transfer.
To execute a BTC.b transfer on Borderless Bitcoin, follow these steps:
- Return to Borderless Bitcoin and ensure your wallet is connected to the platform
- Click on “GO TO TRANSFER”; you should now see your BTC.b tokens available on the Avalanche network
- When you need to perform a transfer, select the originating and destination networks
- Enter the amount of BTC.b you wish to bridge and click on “TRANSFER”
- Follow the on-screen instructions on your wallet device
- Congratulations! You have successfully bridged BTC.b from the Avalanche network to, in our case, the Optimism network
Below are some helpful tips to enhance your experience and alleviate any concerns related to the process:
- Prior to interacting with the Core Beta page, ensure that you have successfully integrated the Avalanche network into your wallet
- If you haven't done this yet, you can easily connect your existing MetaMask wallet to the Avalanche Network by following the steps in this article
- The native token used for gas fees on the Avalanche network is AVAX. If you have already integrated the Avalanche network but lack AVAX for gas, you can always refuel your wallet through the Refuel section of Bungee Exchange
- To connect a Ledger device to the Avalanche Network, please consult this article for step-by-step guidance
- It's important to note that Avalanche Swap is exclusively available within the AVAX ecosystem
- Additionally, make sure you have an adequate AVAX balance in your wallet to purchase your desired amount of BTC.b tokens
- To minimize fees, it is advisable to use the "Swap" section instead of the "Bridge" section when obtaining BTC.b tokens on the Avalanche network. By doing so, you can avoid higher fees associated with bridging your funds to other networks like Ethereum
- Don't forget to check the status of your transactions on the LayerZero Scan Beta Explorer for verification purposes
By following these suggestions, you can optimize your experience and mitigate any potential concerns during the process.
Getting BTC.b token through Core Beta
Swapping AVAX coin for BTC.b token through Core Beta
Getting started with the transfer of BTC.b
Initiating the transfer
Explore and interact with other LayerZero-powered dApps
Here's a list of other protocols you can follow to enhance your engagement with LayerZero technology and increase your eligibility for the potential ZRO airdrop. For the full list visit Messari tweet.
- Aptos Bridge: A product by LazerZero that allows the transfer of digital assets across multiple blockchain networks
- Altitude Defi: A native blue-chip asset bridge on LayerZero that enables fast and secure asset transfers across chains. It is important to note that the team behind the project has recently confirmed on their Discord that there will be a strategic airdrop for active Testnet participants
- InterSwap: A cross-chain protocol and non-custodial indices building tool for decentralized swaps and liquidity transfers
- SushiXSwap: A decentralized protocol for seamless cross-chain asset swapping, consolidating liquidity from various networks
- Aptos PancakeSwap Bridge: A bridge connecting Aptos with PancakeSwap on LayerZero
- Cedro Finance: A cross-chain decentralized liquidity protocol for lending and borrowing assets
- Scroll: A zkEVM-based zkRollup on Ethereum that enhances compatibility for existing Ethereum applications within LayerZero
- Cashmere Labs: A project facilitating secure cross-chain swaps with MEV protection. While it doesn’t currently have its own token, engaging with this protocol offers two advantages. Firstly, it increases the likelihood of receiving future airdrops that CashmereLabs may offer. Secondly, it grants exposure to the protocol's potential growth
- Radiant Capital’s Bridge: Radiant Capital Bridge offers secure cross-chain fund transfers, eliminating the need for third-party bridges. With Radiant Capital Bridge, you can enjoy seamless transactions and native ownership of bridging contracts through collaboration with LayerZero
We also recommend you explore other noteworthy projects within the LayerZero ecosystem, such as Pontem Network, USDC Testnet Bridge, Angle Bridge and Harmony Bridge, Liquidswap, Core Bridge and USDC LayerZero Bridge. These projects are actively contributing to the growth and development of LayerZero's ecosystem.
Join their social media
Stay updated with LayerZero news and potential airdrop announcements by following their social media accounts, particularly their Twitter for primary updates and their website for new projects and bridges. Join their Telegram group for community engagement, but don't forget the importance of joining their Discord server, too, where the team shares content, engages with the community, and initiates in-depth discussions
Additionally, follow the social media channels of other LayerZero projects like InterSwap and CashmereLabs, as these two projects are still in the process of launching their tokens, which could lead to potential airdrops in the future. Active engagement with these channels also ensures that you remain well-informed and ready to seize any opportunities within the LayerZero community. Finally, another project you can follow is Altitude Defi, as they are conducting an incentivized testnet for early users
And with this last step, we have reached the end of the second part of this guide. It is important to note that to maximize and improve your chances in this potential airdrop, you should follow both parts of the guide.
By doing so, you will position yourself effectively within the LayerZero ecosystem.
Thank you for your dedication and involvement throughout the guides, and good luck on your journey within the LayerZero community!
There are several critical elements to consider when actively engaging with the LayerZero ecosystem:
- Regular interactions: Engage with the platform consistently - at least three times a week. These interactions could involve transactions of significant value, ideally in the range of 1,000 USD to 2,000 USD. Examples of these transactions include purchasing STG on SushiSwap or Trader Joe
- Please remember that your veSTG balance will diminish over time and eventually reach 0 veSTG on the unlock date. This is crucial to bear in mind, as you will need to obtain your "Guild roles" right after staking your STG tokens as the minimum balance to do so is 25 veSTG
- Staking STG tokens: Staking STG tokens and bridging funds on Stargate are vital components of your engagement. In addition, contributing liquidity to Stargate weekly and staking LP tokens on the Stargate platform will greatly enhance your overall interaction history
- Stargate Guild: Participation in the Stargate Guild is a one-time event that the Stargate Finance community greatly values. It is a good idea to fully engage with all Guild roles to fully immerse yourself in the Stargate Finance community
- Stargate Snapshot subscription: Subscribing to Stargate Snapshot, another one-time event, is crucial to demonstrate your commitment to the LayerZero ecosystem. Voting on proposals via Stargate Snapshot is essential, as it showcases your involvement in decision-making processes and ecosystem improvements
- NFTs and cross-chain assets: Apart from bridging and swapping assets across different chains, consider creating and bridging NFTs on NFT bridges powered by LayerZero, such as Holograph
- Frequent transfers: Regular transfers of BTC.b on Borderless Bitcoin are also beneficial. This aligns with LayerZero's initiative to make BTC.b a unified, transferable asset across key chains in the DeFi space, including Ethereum, Polygon, Arbitrum, Aptos, and others
- Exploration of LayerZero-powered dApps: It's crucial that you explore and interact with a broad spectrum of dApps powered by LayerZero, as the ecosystem is extensive. Regularly interact with other platforms leveraging LayerZero technology, beyond those explicitly outlined in this guide
- Social media awareness: Given the ongoing discussions about a potential ZRO token airdrop on social media platforms like Twitter, and the fact that ZRO is already listed on reputable platforms such as CoinMarketCap and CoinGecko, staying informed via official social networks is crucial so that you don’t miss anything important
- Cost-effective transactions: Use chains like Binance Smart Chain, Polygon, Optimism, and Arbitrum for low-cost transactions
- Performance evaluation: Use the LayerZero Dashboard to monitor your ranking and involvement, and 10kDrop Dashboard to track, among other things, your total transaction and bridge amounts
- Significant transaction amounts: When swapping, bridging and adding liquidity, aim for significant transaction values between 1,500 USD and 2,000 USD
- Avoid scams: Be cautious of scams, fake profiles and counterfeit announcements. Always verify information with official and credible profiles
- Voting: Participating constantly in voting for proposals on Stargate’s Snapshot can potentially benefit you, similar to the Optimism retrodrop
Remember, your eligibility for potential airdrops is typically based on your digital footprint, which shows your dedication to the project, and the volume of transactions that you have generated. The recurring steps in our guide should be repeated at least three times per week to maintain an active presence within the ecosystem.
LayerZero is a prominent player in the DeFi industry, and its recent 120-million Series B funding round, which took place during a crypto bear market, is a testament to its significance. The protocol serves as a transformative force in the blockchain space, analogous to the internet's impact on computing clusters. With LayerZero, blockchains gain the ability to establish bridges for asset transfers and execute arbitrary data in a manner similar to internet packets.
This groundbreaking capability empowers developers to create applications that are significantly more intricate than existing ones, all while ensuring a seamless experience across different chains.
One particularly groundbreaking development powered by LayerZero is the introduction of OFT technology into BTC.b, which exemplifies its potential to revolutionize the way we use cryptocurrencies, fueling greater usage of bitcoin and contributing significantly to its mass adoption.
Engaging with LayerZero and its ecosystem can yield substantial benefits for the future, including the potential for an airdrop if they decide to release the ZRO token. In addition, projects built on LayerZero's technology are not susceptible to the security vulnerabilities associated with existing bridging solutions. Moreover, the seamless transfer of assets across chains without intermediaries or trusted validators enhances efficiency, security, flexibility, and cost-effectiveness.
It is worth noting that the ZRO token is already listed both on CoinMarketCap and CoinGecko. While it's important to approach speculation with caution, the belief within the LayerZero and DeFi community is that CoinMarketCap and CoinGecko don't list tokens without prior communication with the project's founders. While this has not actually been confirmed, it certainly adds to the excitement surrounding LayerZero and its potential.
LayerZero Labs recently introduced Project Essence, a groundbreaking initiative that will simplify the setup and operation of validators on the LayerZero network. This turnkey solution enables anyone to quickly run a validator in under an hour, eliminating the complexity and time constraints previously associated with the process. Rumors within the community suggest that Project Essence will utilize the ZRO token to incentivize validators, rewarding them based on their stake and transaction volume. This development has generated significant anticipation, with the DeFi community eagerly awaiting the potential launch of ZRO in Q3 if Project Essence progresses successfully.
It is important to note that the developments within LayerZero, including Project Essence and the potential airdrop, present significant growth opportunities. However, it is crucial to approach the potential airdrop in particular with caution, as it is not guaranteed and remains speculative at this stage. While the project holds tremendous potential, it is always recommended to engage with any new protocol based on its merits, and conduct your own thorough due diligence. It is also essential that you remain vigilant against scams and fake information, and exercise prudence when considering involvement in any project.