Another campaign that everyone’s ignoring:
@Davos_Protocol’s Linea Peaks Pursuit on Intract.
(Only 1.5k participants)
Here’s how I completed these 4 tasks with $200 (the campaign ends on 29 June):
Davos Protocol Overview
Davos is a collateralised stablecoin protocol, similar to Gravita/Lyve/Satoshi Protocol.
Total funding: $500k with 2 undisclosed rounds.
You deposit an asset like ETH/LRTs and mint the DUSD stablecoin.
Davos has a points system (or Peaks) that could be used for its airdrop.
There are 4 tasks to complete for this Intract campaign:
Social tasks
Adding DUSD/USDC liquidity
Minting DUSD with STONE + weETH
Here’s how I completed them:
Adding Liquidity
No minimum was required, and I was verified after adding $0.20 to the DUSD/USDC pool.
But the harder task involved minting DUSD:
Minting DUSD
The final 2 tasks involve depositing weETH and STONE as collateral to mint DUSD.
But to open a position, the minimum DUSD required is 100.
So I used these amounts to open a position:
0.049 STONE
0.05 weETH
This may change based on the price, and I recommend having a higher LTV so that your position does not get liquidated.
(I.e. depositing more ETH than required to achieve a safe LTV ratio.)
I used the same capital for both positions, and these were the steps I did:
Deposited ETH to borrow weETH on Mendi
Minted DUSD with weETH as collateral
Paid back DUSD and withdrew weETH
Repaid weETH and withdrew ETH
Swapped ETH to STONE
Minted DUSD with STONE as collateral
Paid back DUSD and withdrew STONE
Swapped STONE back to ETH
The process is complicated, which is exactly why no one would do it.
So I’m hoping that this campaign gives a boost for Davos’ potential airdrop.
At least gas on Linea is reasonable, so I did not spend that much in fees.
If you still have not signed up for Linea Surge yet, use my referral and start earning LXP-L:
Other Strategies to Earn LXP-L
Thanks for reading!
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