【Coinlive Guide】Free NFT! Arbitrum Odyssey Event Week 2 Yield (Updated)
Welcome to Arbitrum! Coinlive is pleased to bring you the latest guide to the Odyssey event. At present, the second week of activities has officially started. If you haven’t read the strategy of the first week, please click: https://www.blocktwits.com/news/detail/?id=7767
Although the first week of the event has officially ended, you can still use this event to learn how to use the bridging protocol to transfer cryptocurrency to a different chain, such as transferring from the Ethereum (ETH) mainnet to Arbitrum One.
The second week will feature two free mintable NFTs with the theme of "Yield Protocol and GMX". In this guide, the author will first show you how to complete the Yield task. The Yield Protocol is actually an open source platform that allows any user to create and execute yield staking and trading strategies on the decentralized ecosystems of Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC).
It must be admitted here that the task in the first week is very easy to solve, but the difficulty of the task in the second week is greatly increased, especially for blockchain novices. There is a fee threshold for this task: Metamask wallet needs to have more than $5 ETH as gas, and $50 USDC as pledge deposit. The $50 USDC can be withdrawn immediately after the event ends, without waiting until the pledge expiration date. Although the process looks complicated, the author will show it with the simplest explanation and the clearest screenshots.
1. First visit the campaign page: https://galaxy.eco/arbitrum/campaign/GCaigUt9HD
2. Make sure the Metamask wallet is connected to the Arbitrum network.
3. If there is not enough ETH or USDC in the wallet, you can transfer from any cryptocurrency exchange that provides the Arbitrum network, just transfer ETH. The author uses the FTX exchange, for reference only.
If you do not have a suitable cryptocurrency exchange account, please refer to the first week guide on how to transfer ETH from the Ethereum mainnet to the Arbitrum chain using the Hop bridge protocol.
4. After obtaining sufficient ETH, convert it to USDC. For lower transaction fees, use https://app.sushi.com/ . Click Connect Wallet in the upper right corner.
5. Enter the ETH to be exchanged, 0.05 - 0.06 ETH is enough. Then confirm the transaction.
6. After the exchange is successful, the website will prompt to add the USDC currency to Metamask. Just click "Join" to view your USDC balance in your Metamask wallet in the future.
7. Now, we have more than 50 USDC in our wallet, it's time to start the task. Visit https://app.yieldprotocol.com/lend and connect the wallet.
8. Click on the avatar in the upper right corner.
9. Select "Use Approval by Transactions".
10. Fill in the amount and confirm the transaction.
11. The Metamask notification pops up, click "Edit".
12. Just change the fuel limit to "21000", then click "Save". Scroll down to confirm the transaction.
13. Wait a moment for the transaction to go through. If the pledge is successful, a grid will appear on the left.
14. Withdraw after the event ends and the NFT is successfully minted.
15. Going back to the activity page in the first step, the "Eligibility" entry is not immediately highlighted like it was in the first week. This is because the project has not been "snapshotted". As long as we complete the task within the specified deadline, which is 1:00 am on June 28, 2022 (GMT+8) to 12:59 am on July 5, 2022 (GMT+8), there will generally be no problems .
Please continue to pay attention to Coinlive, we will bring you the next Odyssey "GMX" strategy!
Last update on June 30, 2022: The Arbitrum project has decided to suspend the Odyssey event and will restart it after the release of Nitro.
Author: [Coinlive] Nell