New Derivation Protocol Launch Incentive Test on Arbitrum

Derivation projects are playing an increasingly important role in the cryptocurrency market. With each cycle of bull and bear markets alternating, projects in different sectors rise and fall. It is generally believed in the industry that derivation projects are likely to emerge during this bull market, with GMX, which has already begun to show its potential, being a typical representative.

Project Introduction

A certain emerging protocol is the first global debt pool model derivation protocol based on Arbitrum and zkSync. It provides a derivation trading market with infinite liquidity, where anyone can easily create various synthetic assets and profit from them, including cryptocurrencies, stocks, precious metals, and foreign exchange. Users can also earn profits by participating in the DAO.

The project is currently in its early stages, with some innovations in the direction of synthetic assets. Users participating in the testing can receive rewards, including Gatcha tokens, which can be used to mint NFT blind boxes. These NFTs may be eligible for airdrops of project tokens in the future.

Qualification for Testing

To participate in the Alpha test, users need to obtain testing qualifications first:

1. Pay attention to and retweet the official designated tweet
2. Invite 2 friends to join the official community
3. Fill out the application form
4. After completing the above tasks, submit a screenshot as proof in the designated channel.
5. After obtaining the OG role, submit your wallet address in the designated channel.

Note: It is recommended to use a secondary wallet to participate in the test

Interaction Steps

1. Preparation work

• Add Arbitrum Goerli test network
• Claim test tokens and cross-chain to Arbitrum Goerli testnet

2. Claim test tokens

Click "Claim" on the Dashboard page to receive test USDC, with a maximum of 10,000 per user.

3. Staking

Click the "stake" button to enter the amount of USDC for staking. The first operation requires contract approval. For every 1 USDC staked, you can borrow 1 JUSD.

JUSD is a decentralized crypto-collateralized stablecoin issued by the protocol, pegged to USDC. There are two ways to acquire JUSD: through collateralized borrowing or direct purchase.

4. Transaction

Participate in synthetic asset trading on the Market page:

1. Transfer Solid JUSD to the specified debt pool
2. Use JUSD to purchase listed synthetic assets
3. The price of synthetic assets is determined by the oracle and has unlimited liquidity.

Note:

• Unrealized profit and loss percentage = ( synthetic value - my active debt ) / staked value in the debt pool
• If the percentage is less than or equal to 95%, a forced liquidation will be triggered.

Reward Mechanism

• Complete 5 transactions daily to earn Gacha tokens
• Inviting users to join the official community can earn Gacha tokens
• Creating and publishing relevant content has the opportunity to earn additional rewards.

Gacha tokens can be used to exchange for NFT blind boxes and unlock more rewards. The project team will also hold a simulated trading competition, with specific rules to be announced.