Airdrop farming - a basic guide for EON

General
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There are three apps that are native on EON. None of them have EON based tokens. Usually when tokens launch on a chain like EON, at some point in the future they create a token and airdrop it to existing users.

Airdrop farming is one of the basic ways that people earn funds in the cryptocurrency space. See this article here, it is one of many on how to do it.

If a protocol launches a token, they like to reward their users. So how can a ZEN holder take part in a potential future token airdrop?

First you have to know the apps to use. On EON it is SpookySwap, Ascent, and Yuzu. I’ll put links to the apps in followon posts.

SpookySwap is a decentralized exchange with an Automated Market Feature. You can use it to swap ZEN for other tokens, like DAI, USDC, ETH, AVAX, ZUSD, and others. You can also fund liquidity pools, which in SpookySwap is called My Potions. For example, I put in equivalent amounts of ZEN and DAI in a Liquidity Pool, and now when anyone trades ZEN for DAI, I get paid about 0.85% of this trade. This can be seen in the Analytics tab on SpookSwap.

Ascent is a decentralized exchange also, and it is slightly different. First you convert your ZEN to WZEN, then you can swap it for other tokens. It is also possible to provide liquidity on Ascent, but it has two different ways to do it. The easy way is to use the token vault feature, where you deposit a single token, and Ascent uses it in its AMM to provide liquidity for trades.

Yuzu is a borrowing and lending app, where ZEN, USDC, BTC, and ETH can be lent and borrowed. It can be used if you have a lot of ZEN, and want to lend it out, and use it as collateral for other tokens.

An example of something you might do to increase your chances of getting a possible future token airdrop, if SpookySwap, Ascent, or Yuzu decide to create a token, would be to deposit ZEN in Yuzu, use it as collateral to borrow some USDC, go to SpookySwap and swap USDC for ETH, then take the ETH and go to Ascent and deposit it in an ETH vault.

If you have an idea of what the prices might do, or you see price discrepancy that you want to arbitrage, you can even make a profit on this activity.

Links to the three native EON apps are below

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SpookySwap is here. Put some ZEN on your Metamask wallet, point it to the EON chain, and either do Swaps or provide liquidity:

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Ascent Exchange is here, this link is for the single token vaults. There is also a swaps page. You can see the Total Value in each vault, but I think the APR has not updated yet:

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Here is the borrow and lending app Yuzu. Try depositing some ZEN and use it as collateral:
https://app.yuzu.market/

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Thank you for all these explanations @blockops.

Something tells me that this mini-tutorial can provide a nice return :eyes:

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If coin wallets in the central exchange also cannot receive air drops, there will be no effect of promoting EON by air drops.

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My point of view is that central exchange is a good place for Zen miners to sell the Zen they have mined to the people that would like to purchase Zen and hold it and use it.

The people that purchase the Zen should then put it in their own wallet, transfer it to a MetaMask wallet on EON, and use it to trade, lend, borrow and provide liquidity.

Developing this decentralized finance system on EON, similar to the decentralized finance system on Ethereum, will help the system to grow and further enable future applications and uses.

At the same time it introduces members of the long time Zen community to how to use decentralized finance which in some form or another, will replace the centralized bank finance systems that currently exist.

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It would be wonderful if everything was already working well, and if ZEN and EON were already larger and more popular than Ethereum, but then there would also not be future opportunity and upside.

We’re trying to build something.

Thank you for pointing out that it is not yet fully built.

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So on. And your point to continue FUDing.

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We’ve been through a halving, miners now get roughly 2880 ZEN a day, which is around $23,000 at today’s prices.

Regarding the hops to CEX´s, it’s not up to me to speak about potential investors, but an investor to me is someone who holds an asset for multiple years. Everything else is speculation.

Regarding, Yuzu the ecosystem is still being bootstrapped Rome wasn’t built in a day.

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Agreed, Yuzu APY’s aren’t currently encouraging. They launched a few weeks ago, and incentives haven’t currently hit the protocol.

I think the point of @blockops post was to alert the ZEN community of what’s currently available in regards to possible future airdrops.

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https://twitter.com/AscentExchange/status/1747921483953738200

Oh hey look.

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Holding $ZEN on centralized exchanges is not the purpose or utility of $ZEN whether it be on main-net or EON.

It makes sense to reward actual users like node hosters, dapp users, forger node operators, than someone who doesn’t take the effort to actually use the Ecosystem.

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great call out! asking for more clarity on the eligibility requirements

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However, I don’t want to use EON as someone who holds coins. I want to solve everything through a centralized exchange… For ordinary Koreans, yes. All services are available on Upbit. From staking to transactions, Upbit is a state-sponsored exchange. Ah also airdrop

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Are you saying that you want to get the benefits of the work of people who are using a decentralized finance system while you only use a centralized system?

If you are not using ZEN on EON to help make the system better, why do you think you should get the airdrops and forger staking rewards that are specifically designed to incentivize the use of ZEN on EON?

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