Published in: Blog

The Ultimate LayerZero Airdrop Guide: Strategies for Success

Author Duy

Published on: December 22, 2023

Table of Contents

What is LayerZero?

LayerZero is an omnichain, cross-chain protocol enabling decentralized applications (OdApps) to interact seamlessly across different blockchains. Its interaction capabilities revolve around message transmission between chains.

The current solutions achieved this with an inter-chain hub-and-spoke model like Polkadot or by running light nodes in pairs across chains like Cosmos IBC.

LayerZero Airdrop?

The LayerZero project recently completed a highly successful Series B funding round, securing an impressive $120 million. This substantial achievement elevated the project’s cumulative funding across five rounds to $263.3 million, ultimately valuing LayerZero at $3 billion.

With a funding amount twice that of Arbitrum, LayerZero has garnered substantial attention. Speculations have emerged about the $ZRO token referenced within the project’s code, suggesting the potential for significant retroactive rewards.

While this hints at promising prospects, it’s essential to note that the retroactive aspect remains unofficial and unconfirmed by the project itself. Consequently, the initiation of an airdrop by LayerZero remains uncertain.

It’s crucial to approach participation in LayerZero cautiously as it may involve costs and time investments without guaranteed returns. We strongly advise a thoughtful consideration of all aspects before engaging in LayerZero’s retroactive activities.

LayerZero Airdrop- Step-by-Step Guide!

Join the LayerZero Discord

Let’s start with joining LayerZero’s Discord.

Active participation within the community on Discord and acquiring available roles is encouraged. Should you encounter any challenges or have feedback while engaging with the project, sharing your thoughts directly could boost your eligibility for potential retroactive rewards.

Please note that as of December 2023, the LayerZero’s Discord server is currently at maximum capacity, making it improbable for new members to join. Nevertheless, the community’s fervent support indicates a likelihood of expanding the membership limit soon.

In the meantime, despite the server’s status, you can still perform the following tasks.

Utilize Bridges Supported by LayerZero

Utilize Aptos Bridges by LayerZero:

Step 1:

Begin by downloading and setting up a Potem Network wallet, following a process akin to configuring a MetaMask wallet.

Step 2:

Navigate to https://theaptosbridge.com/bridge and proceed to connect both your MetaMask and Potem wallets.

Step 3:

Once your wallets are successfully linked, initiate the process of bridging ETH between various EVM chains and Aptos, and vice versa. It is advisable to conduct a single bridge transaction per week to potentially optimize your chances of qualifying for retroactive rewards.

However, it’s essential to factor in Ethereum transaction fees to ensure cost-effectiveness before executing any transactions!

Note that bridging assets from EVM chains to Aptos typically takes around 5 minutes, whereas the reverse process (from Aptos to EVM chains) might approximately require 3 days for completion.

Utilize Liquid Swap by Potem Network

Step 1:

Proceed to https://bridge.liquidswap.com/ and undertake actions akin to those followed while using Aptos Bridges in the previous step.

Step 2:
- Navigate to https://liquidswap.com/#/pools for liquidity addition.
- Opt for the USDC-USDT Layer Zero pair when adding liquidity.
- If you don’t possess USDC and USDT LayerZero tokens, you can swap for these assets by accessing the swap section on the same platform or through https://liquidswap.com/#/.

Determining the specific amount of liquidity to add is at your discretion, but it’s advisable to consider adding a substantial sum (approximately $100) to potentially augment your chances of qualifying for retroactive rewards.

Utilize Stargate Finance

Step 1:
- Access https://stargate.finance/transfer.
- Connect your wallet.
- Perform token transfers. For instance, if you have RDNT on the Arbitrum network, use it to transfer to RNDT on the BSC network.
Step 2:
- Click on “Approve”.
- Confirm in your wallet and proceed with the transfer.

It’s advisable to perform this action once a week.

Step 3:
- Access https://stargate.finance/pool to add liquidity or select the pool option on the screen.
- Opt to add stablecoins on layer 2 for lower fees. For instance, choose to add USDT on the Arbitrum network.

Participate in Stargate Finance Governance

Step 1:

To engage in Stargate Finance governance, acquire $STG tokens in your wallet and stake them. Purchase from Binance and transfer to your wallet or buy via DEX.

It’s recommended to purchase on the Arbitrum or BSC network for reduced transaction fees. Purchase 26 $STG tokens and stake them for a maximum of 36 months to receive 25 veSTG voting power.

Contract $STG:

- BSC: 0xb0d502e938ed5f4df2e681fe6e419ff29631d62b
- Arbitrum: 0x6694340fc020c5e6b96567843da2df01b2ce1eb6

DEX:

- https://app.uniswap.org/#/swap
- https://pancakeswap.finance/swap

Once purchased, stake your $STG tokens at https://stargate.finance/stake.

Click on the available token amount and chain in your wallet, then stake accordingly.

Step 2:
- After staking, participate in Stargate Finance’s governance at https://snapshot.org/#/stgdao.eth.
- Click “join,” confirm in your wallet, and wait for a new proposal (active) to vote.

Utilize Layer Zero’s Bridge

Step 1:
- Access https://testnetbridge.com/.
- Connect your wallet, and bridge from layer 2 to Goerli to save costs.

Execute this transaction weekly, choosing to bridge ETH from various layer 2 networks (Arbitrum in this case) to Goerli, but wait for lower fees on the Ethereum network.

Step 2:

Bridge the chosen ETH from layer 2 networks (e.g., Arbitrum) to Goerli and proceed with the transfer. Perform this action weekly.

Provide Liquidity for Layer Zero’s Bridge

Step 1:
- Access https://app.uniswap.org/#/swap.
- Input the GETH contract: 0xdd69db25f6d620a7bad3023c5d32761d353d3de9.
- Swap ETH for GETH. Use layer 2 networks for reduced transaction fees.
Step 2:
- After swapping ETH for GETH, visit https://testnetbridge.com/pools.
- Select the Arbitrum Network and click “ADD LIQUIDITY” to provide liquidity.
Step 3:
- Once “Add Liquidity” is clicked, you’ll be directed to Uniswap’s pool.
- Choose to add a full range or manually input the price range you prefer for liquidity addition.
- Approve Geth, confirm in your wallet.
- Select “Preview,” “Add,” and confirm the transaction in your wallet to successfully add liquidity for Layer Zero’s bridge.

You can repeat this process for the remaining 3 pools to increase your chance of receiving retroactive rewards.

If you wish to withdraw liquidity, select “pools” in Uniswap’s top-left corner, choose the liquidity provision position, select “remove liquidity,” confirm in your wallet, and execute the removal.

Research Before Investing!

Before delving into any investment or participation in projects like LayerZero, it’s crucial to conduct thorough research and consider several essential aspects. While LayerZero offers potential opportunities for engagement and rewards, diving in without due diligence could lead to financial risks or unmet expectations.

Here are some key points to consider:

Understand the Project: Grasp LayerZero’s purpose and tech. Ensure it aligns with your goals.
Assess Risks: Evaluate tokenomics and investment risks associated with $ZRO.
Verify Information: Rely on official sources for news and airdrop announcements.
Engage with Community: Join forums and groups to gather insights and updates.
Consider Costs: Calculate fees involved in transactions or participation.
Check Regulations: Understand legal aspects and prioritize asset security.
Diversify Investments: Avoid overcommitment and diversify your portfolio.

Prioritize research, stay informed, and consult experts to make sound investment decisions.

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