Basic Information
Event time: 2024-10-01 14:30 (utc) to 2024-10-06 23:59:59 (utc). If calculated according to Beijing time, add 8 hours.
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Replenish:
This activity explicitly requires a wallet created and backed up using the native Binance Web3 wallet. Externally created and imported wallets do not meet the requirements.
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risk
Babylon chain security risks (pledged assets are stolen),
Lorenzo protocol risks (stake assets are stolen),
Because it is staking BTCB (BTC on the BNB chain), there is also the risk of exchange rate falling.
At the same time, after staking, it cannot be redeemed in the short term (we have to wait until Babylon opens the mainnet, but there is stBTC liquidity on the chain, which seems to be more than 20% off, so you can redeem it if you really need it).
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award
Lorenzo Points. Staking BTC to the Lorenzo Protocol will earn you Lorenzo Points (BTC deposited through this event will have an additional 20% points bonus until the project ends).
YAT (yield accruing token). To be honest, I feel it is very confusing. First, it is divided into: YAT 1 (yLRZ) and YAT 2 (yBBN), and then divided into different activities. The final rewards of this activity are yLRZ2 (project token LRZ worth 3 million US dollars) and yBBN2 (rewards allocated by the Babylon Cap 2 activity).
(Exclusive for this event) 2 million Lorenzo points pool. So the wallets that participated and completed the task will share it. If we say it is evenly distributed, it may be the total points divided by the total number of wallets.
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operate
The event page has Lorenzo’s official tutorial!
Here is a brief introduction on how small retail investors (who do not hold BTC) can save transaction fees. Prepare USDT or USDC (for example, 10 USD, I prepared more than 60 USD) worth more than 0.0001 BTC (the task requires at least 0.0001 STBTC), withdraw it to your web3 wallet, and choose bnb chain (note: there is currently an activity, and there is no transaction fee for withdrawing stablecoins from bnb chain).
The handling fee for withdrawing BTC directly from the exchange to the bnb chain is sometimes expensive, about 0.5 USD, but the handling fee for the exchange on the chain is only about 0.2 USD (there is no handling fee for withdrawing coins). If you already hold enough BTC for the task and don't want to increase your position, it is better to support withdrawing BTC, although the handling fee is a bit more expensive.
Then use the "Exchange" function in the web3 wallet to exchange bnb chain's USDC or USDT for BTCB (make sure you can receive at least 0.0001 BTC, it is better to exchange more).
Then visit the event page, be sure to click "Participate in the event" to sign up, then enter the Lorenzo event page, and then deposit BTC as required.
The pledge points will start to be produced within 24 hours after staking.
Finally, wait for the project to tge, then collect the rewards and redeem the staked BTC.
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Bonus activity (optional): Invite friends
The inviter can get an additional 20% of the invitee's points, and the invitee can get an additional 5% of his or her own points.
My invitation code is: DPkOjjQX
If my tutorial helps you, you are welcome to check the reference code when you finally confirm the pledge, and then use my invitation code!
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The tutorial and data are for reference only, please refer to the actual situation!