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IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
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When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
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Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
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Yearn is a DeFi service that provides opportunities for users to passively invest through their core products: Vaults and Earn. This is done by pooling users' funds and socializing the transaction costs of moving those funds between other protocols that generate yield; such as dYdX, AAVE, and Compound. Vaults are like savings accounts for your crypto assets. They route your deposit through strategies that seek out the highest yield available in DeFi.
This tutorial will focus on how to deposit funds and begin earning a yield using the Yearn v2 Vaults. It will also walk you through completing one of the tasks required to claim the Asset Management Skill and Lending Skill on RabbitHole.
A supported web3 wallet.
A supported asset in your wallet on Mainnet Ethereum
I will also assume that you are familiar with approving transactions with your wallet software.
Once you have everything you need from the list above, we are ready to dive in.
You can get to the dashboard by visiting this link: https://yearn.finance/vaults and logging in with one of the wallets shown below.
Be sure to have your wallet set to the Ethereum Mainnet
The list is quite long and is not limited to the ones shown below. You can scroll through and look at the different stats for the Vaults they offer. The Net APY column will show you what the current annualized yield is for that Vault.
When you’ve chosen a Vault click the “SHOW” button beside it on the list.
Be aware that this APY can change dramatically over time
Yearn has a feature called Zap that allows you to deposit any asset they support and it will convert it to the correct asset for the Vault you chose while depositing. You just need to select the asset from the dropdown menu and then enter the amount in the box to the right of it.
In the image below I have chosen the GRT (that I received from a previous RabbitHole Quest), but you can choose any asset from the list. Then click “Deposit”.
After both transactions are approved you will see that the value you deposited appears in the holdings column of the asset list, as well as under the "Withdraw..." heading beside “Vault Balance:” If you wish to remove your funds at any time you can enter the amount and click “Withdraw”. You also have the ability to use the Zap feature to convert the token into a different one while you're withdrawing it.
Once you have deposited assets into a Vault you can go back to the RabbitHole Task and click the “Redeem” button. You will get the XP and you will have completed a Task required to claim TWO Skills on the platform. Congratulations on becoming a more experienced QuestRabbit!
Yearn is a DeFi service that provides opportunities for users to passively invest through their core products: Vaults and Earn. This is done by pooling users' funds and socializing the transaction costs of moving those funds between other protocols that generate yield; such as dYdX, AAVE, and Compound. Vaults are like savings accounts for your crypto assets. They route your deposit through strategies that seek out the highest yield available in DeFi.
This tutorial will focus on how to deposit funds and begin earning a yield using the Yearn v2 Vaults. It will also walk you through completing one of the tasks required to claim the Asset Management Skill and Lending Skill on RabbitHole.
A supported web3 wallet.
A supported asset in your wallet on Mainnet Ethereum
I will also assume that you are familiar with approving transactions with your wallet software.
Once you have everything you need from the list above, we are ready to dive in.
You can get to the dashboard by visiting this link: https://yearn.finance/vaults and logging in with one of the wallets shown below.
Be sure to have your wallet set to the Ethereum Mainnet
The list is quite long and is not limited to the ones shown below. You can scroll through and look at the different stats for the Vaults they offer. The Net APY column will show you what the current annualized yield is for that Vault.
When you’ve chosen a Vault click the “SHOW” button beside it on the list.
Be aware that this APY can change dramatically over time
Yearn has a feature called Zap that allows you to deposit any asset they support and it will convert it to the correct asset for the Vault you chose while depositing. You just need to select the asset from the dropdown menu and then enter the amount in the box to the right of it.
In the image below I have chosen the GRT (that I received from a previous RabbitHole Quest), but you can choose any asset from the list. Then click “Deposit”.
After both transactions are approved you will see that the value you deposited appears in the holdings column of the asset list, as well as under the "Withdraw..." heading beside “Vault Balance:” If you wish to remove your funds at any time you can enter the amount and click “Withdraw”. You also have the ability to use the Zap feature to convert the token into a different one while you're withdrawing it.
Once you have deposited assets into a Vault you can go back to the RabbitHole Task and click the “Redeem” button. You will get the XP and you will have completed a Task required to claim TWO Skills on the platform. Congratulations on becoming a more experienced QuestRabbit!
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