Resolv.xyz is a new player in the decentralized finance (DeFi) ecosystem, offering users innovative ways to manage and secure their digital assets. Designed with a focus on transparency and efficiency, Resolv.xyz aims to address some of the core challenges faced by DeFi users today, including security, liquidity, and accessibility. Additionally, its enticing airdrop campaign makes it a prime choice for users seeking to capitalize on early adoption rewards.
How Resolv.xyz Works
At its core, Resolv.xyz operates as a decentralized protocol designed to facilitate the resolution of on-chain assets. It employs smart contracts to ensure that transactions and asset management are secure and transparent. Users can interact with Resolv.xyz to lock their assets in escrow-like contracts, enabling trustless agreements between parties. By leveraging cross-chain interoperability, Resolv.xyz allows users to seamlessly transact across different blockchain networks, making it a versatile tool for DeFi participants.
Understanding USR: Resolv.xyz’s Stablecoin
A key feature of Resolv.xyz is its native stablecoin, USR, which is designed to maintain price stability and provide a reliable medium of exchange within the platform. Similar to DAI, USR is backed by collateral, but Resolv.xyz currently uses ETH exclusively as collateral. Users lock their ETH into smart contracts, which then mint USR tokens based on a collateralization ratio. This ensures that USR remains overcollateralized, reducing the risk of devaluation. In the event of significant price drops in ETH, the platform employs automated liquidation mechanisms to maintain the stability of USR. This approach mirrors DAI’s model but simplifies it by focusing solely on ETH as collateral, streamlining the process for users.
The Airdrop Opportunity
Resolv.xyz’s airdrop campaign is currently ongoing, offering early adopters and active participants a lucrative opportunity to earn tokens. To qualify for the airdrop, users can perform actions such as holding assets in the platform, minting USR, or engaging in specific ecosystem activities. These rewards are designed to foster community growth and incentivize active involvement. With clear eligibility criteria and a transparent distribution process, the Resolv.xyz airdrop is a golden opportunity for users looking to earn while exploring the platform’s innovative offerings.
How to participate in the airdrop
1- Follow the link to signup with your wallet, review the terms and conditions, and if you agree, proceed to sign with your wallet. The signature is gas free.
2- You are then redirected to you points dashboard. From there you can see all the strategies to obtain points and the multipliers for each strategy. The easiest way is to hold USR token.
3- Click on “View all” to view all the possible activities. You have the choice to participate on Ethereum network or one the Base network to save on fees.
4- Click on “Start earning” in “HOLD USR” activity to swap USDC/USDT/USDE/DAI to USR.
5- If you want to convert other tokens to USR, you can use your favorite DEX (jumper.exchange, sushi, uniswap, aerodromt) to swap from any token to USR. However, make sure you pick the right token by validation the address.
6- Once you have USR tokens, you can supply them to liquidity pools on pendle, aerodrome, curve and much more. Explore all the possibilities in the activities section and choose the on that is right for you. One of the possibilities is to deposit in the USDC/USR stable pool on aerodrome.finance
Comparison with Anzen Finance
When comparing Resolv.xyz to Anzen Finance, a well-known name in the DeFi landscape, several distinctions stand out. While both platforms prioritize user security and decentralized governance, Resolv.xyz distinguishes itself with a more streamlined interface and a unique suite of tools designed for efficient asset resolution. Unlike Anzen Finance, which focuses heavily on risk-adjusted returns and insurance-backed strategies, Resolv.xyz emphasizes seamless interoperability across chains and simplified user onboarding, making it a more versatile choice for both novice and experienced DeFi enthusiasts.
Total Value Locked (TVL)
An important indicator of Resolv.xyz’s growth within the DeFi community is its Total Value Locked (TVL). While the platform’s TVL shows positive growth, reflecting increased user confidence and participation, it’s worth noting that this metric should not be taken as the sole measure of a platform’s success. DeFi users are encouraged to evaluate TVL alongside other factors, such as the platform’s underlying mechanisms, risk management, and community engagement.
Risks
While the opportunities presented by Resolv.xyz are enticing, it’s crucial to acknowledge the inherent risks associated with DeFi protocols. Smart contract vulnerabilities, market volatility, and potential regulatory challenges pose significant risks to users. Additionally, as a relatively new platform, Resolv.xyz may face hurdles in maintaining security and scalability as it grows. Users are advised to perform thorough research and only invest funds they can afford to lose, keeping in mind the unpredictable nature of the DeFi ecosystem.
Conclusion
Resolv.xyz represents an exciting development in the DeFi world, offering innovative solutions and attractive opportunities for users, particularly through its airdrop campaign. With its user-centric stablecoin USR and a clear focus on fostering community engagement, the platform is poised for further success. However, prospective users should remain cautious and well-informed about the risks before diving in. By striking a balance between enthusiasm and diligence, Resolv.xyz participants can maximize their gains while navigating the evolving DeFi landscape effectively.
Bob Network is a Layer 2 scaling solution for Bitcoin that enables faster, cheaper transactions and advanced features like smart contracts while relying on Bitcoin’s base layer for security. Recently, Bob became a Babylon-secured network, leveraging Babylon’s system that taps into Bitcoin’s hash power to enhance security for Bitcoin-compatible chains. This integration also supports the ecosystem of Bitcoin Liquid Staking Tokens (LSTs) by providing a secure foundation for staked Bitcoin to interact with decentralized applications, ensuring both liquidity and the robust security of the underlying asset.
You can find more information about Bitcoin Liquid staking in our previous article. This article will provide a step by step tutorial on how to participate in the last season for farming BOB layer2 and likely getting qualified for the Airdrop. The focus will be more for Ethereum familiar users.
If you hold Bitcoin and wish to bridge it to BOB, you can connect your Bitcoin wallet. For this tutorial, however, we’ll focus on bridging Ethereum assets from other Layer 2 networks such as Base or Linea.
Add the BOB Network to Your Wallet:
Add the BOB network to your wallet by following the on-screen instructions.
Sign a message to confirm (this step does not require gas fees).
Access the Welcome Page:
After successfully connecting your wallet, you will be redirected to the welcome page.
Click on “Start Harvesting” to begin. Superchain users will receive bonus points.
Step 2 – Intract quests
Complete quests on Intract. This step is optional, but it might help for the airdrop.
Navigate the BOB dashboard via the menu bar in the top-right corner, where you’ll find:
Fusion: Your personalized dashboard.
Bridge: Access native and third-party bridges to move assets to the BOB network.
Apps: A directory of apps available for farming points and interacting with the ecosystem.
Stake: A one-click staking solution to get LSTs (liquid staked bitcoin).
Multipliers: You can view the points multipliers for each asset. Bitcoin LSTs offer the highest multipliers, making them the most rewarding option. However, if you prefer, you can keep your assets in Ethereum or USD and still participate.
Step 4 – One-Click BTC Staking
Stake Bitcoin seamlessly by clicking on the “Stake” button to acquire Bitcoin LSTs. To proceed, connect your Bitcoin wallet and bridge your Bitcoin to your BOB EVM wallet, selecting your preferred LST. Each LST allows you to earn points in its respective project, with many also contributing to your Babylon points balance. For a detailed step-by-step guide, follow this guide.
Step 5 – Bridge assets from Ethereum L2
If you don’t have a Bitcoin wallet, you can bridge assets from Ethereum instead. Use the BOB native bridge for transfers from the Ethereum mainnet, or opt for a third-party bridge to move assets from a Layer 2 network. You can use 0xastra, owlto or any other bridge that is supported. Choose the option with the lowest fees
Bridging 0.1 ETH from Base to the BOB chain costs approximately 0.00039 ETH on 0xastra. If you’re bridging from Arbitrum, you also have the option to bridge WBTC directly, providing more flexibility.
You can keep ETH on the BOB network and use it to provide liquidity. However, note that the multiplier for points is lower than that of Bitcoin LSTs. In this guide, we’ll convert ETH to Bitcoin LST and use it in DeFi strategies, but you can choose the asset that aligns with your preferences. You’re not obligated to follow our strategy.
Step 6 – Review you strategy
Review the strategies outlined in the BOB dashboard to optimize your points and familiarize yourself with the available apps.
Step 7 – Convert ETH to solvBTC
If you didn’t bridge WBTC directly to the BOB network, you’ll need to first convert ETH to WBTC, as there’s currently no direct route from ETH to SolvBTC.
We used izumi.finance to convert ETH to WBTC, but you can use any DEX listed in the BOB apps directory.
Once your WBTC is ready, visit solv finance on the BOB network to convert it to SolvBTC.
From the menu, select SolvBTC, ensure you’re on the BOB network, and complete the conversion from WBTC to SolvBTC.
Leverage SolvBTC in DeFi:
With SolvBTC, explore DeFi opportunities to maximize your points. Start with platforms like Pell Network and Segment Finance, or check the full list of supported apps in your Fusion dashboard.
Step 8 – Pell network
Pell network is a restaking platform, similar to Eigenlayer or Karak on Ethereum. It supports assets on BOB, including SolvBTC, and offers opportunities to earn Pell and Solv points. Restaking SolvBTC is straightforward and benefits from BOB’s low gas fees. Additionally, Pell’s airdrop campaign provides exposure to multiple rewards.
Here are the assets supported for BOB. You can restake the SolvBTC we just acquired in step 7.
Step 9 – Segment finance
Segment Finance allows you to supply assets and borrow against them. You can loop borrowed assets back into your supply to maximize returns.
After connecting, visit the Segment dashboard to explore pools and see the points earned when supplying SolvBTC.
Supply your SolvBTC, enable the collateral toggle, and borrow SolvBTC while staying within safe limits to avoid liquidation. Repeat the process based on your risk tolerance.
Finally, review your account to ensure your net APR is as expected and you are compliant with all risk parameters.
You can supply ETH and borrow Bitcoin LRT assets such as uniBTC, LBTC, or SolvBTC against it. This allows you to obtain Bitcoin LRT without swapping your ETH. However, since ETH and BTC are not correlated, you will need to actively monitor price movements to avoid liquidation.
Step 10 – BedRock LST
You can convert your WBTC to BedRock’s LSTuniBTC. This will help you get Babylon points and Bedrock Diamonds while getting Bob points too.
Follow this link and stake your WBTC to uniBTC. Make sure you are on the BOB network. Be careful, the unstake feature is not available yet. You can always swap them to other assets using oku.trade with some price impact (step 11).
Once you receive your uniBTC, you can go to Pell network (Step 8) to restake them or Segment finance (Step 9) to lend them. You could use them in any other DEFI app.
Here is the restaking asset uniBTC on Pell network. Always make sure you are on the BOB network.
It is important to note that unstaking from Pell has a 7 days pending period. Withdrawal from Segment is instant if you repay enough debt to cover the liquidation threshold.
Step 11 – Provide liquidity to a DEX
You can go to oku.trade to swap you ETH or WBTC directly into a Bitcoin LST. Make sure you are on the BOB network. You can choose between SolvBTC.BBN, uniBTC or LBTC. They have the best multipliers for BOB points.
Once your Bitcoin LST is ready, you can provide liquidity to a pool. Bitcoin-backed LST pairs generally carry a lower risk of impermanent loss, as long as they remain pegged to Bitcoin. However, always review the associated risks, including potential depegging events. Make sure you choose a pool that has a good amount of liquidity.
Go to “Position maker” and choose a pool:
In this case, we chose uniBTC / SolvBTC.BBN. Select your desired range, add the liquidity amounts and click on Deploy position.
Once submitted, you can view your positions:
You can always restake or lend your SolvBTC.BBN, uniBTC or LBTC to Pell network (Step 8) or Segment finance (Step 9) allowing you to accumulate additional points in those platforms.
Step 12- Ongoing Management – Fusion Dashboard
Regularly check your Fusion dashboard for updates, new quests, and performance metrics. Adjust your strategy to maximize points and rewards depending on each app’s performance.
Understanding the risks
Farming on BOB involves multiple layers of complexity and risk. Your Bitcoin, originally on the Bitcoin mainnet, is now wrapped in multiple smart contracts and represented as a Bitcoin LST (e.g., SolvBTC) on BOB. These layers, secured by Babylon or other protocols, are exposed to potential bugs or vulnerabilities. Any issue in these contracts could lead to severe asset loss. Additionally, Bitcoin’s price volatility and your long-term holding strategy should also be considered. Only invest what you are ready to lose, conduct thorough research, and stay informed about potential risks.
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