Arbitrum Odyssey Week 2 Activity Guide: Yield Protocol and GMX Project Interaction Strategy

Arbitrum Odyssey Week 2 Overview

This week is the second week of the Arbitrum Odyssey event. Participants need to complete interaction tasks with the Yield Protocol and GMX projects to earn 2 NFTs for this week.

• Task time: June 29, 2022, 1:00 to July 5, 2022, 00:59
• NFT claim time: after July 6, 2022, 1:00
• After completing the task, you can claim the NFT on the relevant platform.

Yield Protocol Project Interaction Guide

Project Introduction

Yield Protocol is a fixed-rate lending protocol based on ETH/Arbitrum, featuring fixed rates, term loans, and interest rate market models.

Interactive task requirements (complete any one of them)

1. Provide ≥50U liquidity
2. Lend ≥50U assets
3. Borrow ≥100U assets (collateral must be supported)

Note:

• The first two items are relatively simple, requiring less capital and can be withdrawn at any time.
• The funds involved in the interaction can be withdrawn at any time.

operation steps

1. Exchange stablecoins: You can use a certain DEX to exchange ETH for Dai or USDC on the Arbitrum network.

2. Provide liquidity:
   • Enter the Yield Protocol liquidity interface
   • Select asset and duration
   • Enter the amount and confirm the transaction

3. Lending Assets:
   • Enter the Lend interface
   • Select asset and duration
   • Enter the loan amount and confirm

4. Borrowed Assets (Optional):
   • Enter the Borrow interface
   • Select collateral and borrow assets
   • Enter the amount and confirm

It is recommended to choose to provide liquidity or lend assets, which is relatively simple and easy to operate.

GMX Project Interaction Guide

Project Introduction

GMX is a decentralized perpetual contract exchange with features such as zero slippage, high leverage, and fairness and transparency.

Interactive task requirements (must be completed in full)

1. Conduct a leveraged contract trading of ≥10U
2. Become a liquidity provider (buy GLP)
3. Complete a SWAP transaction

Note:

• All three tasks must be completed.
• There is a 15-minute cooldown time for removing liquidity

operation steps

1. Contract Leverage Trading:
   • Enter the trading interface
   • Choose to go long or go short
   • Set amount and leverage multiple
   • Confirm transaction

2. Provide liquidity:
   • Enter the GLP trading interface
   • Select asset and enter amount
   • Purchase GLP tokens

3. SWAP trading:
   • Enter the Swap interface
   • Select Trading Pair
   • Enter the amount and confirm the transaction

After completing the above tasks, please check if the NFT claiming eligibility has been activated. Relevant tutorials for the coming weeks will also be updated successively, please stay tuned.