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What is MetaStreet Ascend XP?
Unlocking DeFi Rewards with MetaStreet Ascend XP: A Complete Guide
In the evolving landscape of decentralized finance (DeFi), MetaStreet has emerged as a beacon for enthusiasts and investors alike, seeking to maximize their yields and unlock new opportunities. With the launch of the MetaStreet Ascend XP program, the platform sets a new standard for earning potential and community engagement in the DeFi space. This blog post delves into the intricacies of the Ascend XP program, offering insights on how to earn XP, maximize bonuses, and ultimately, enhance your DeFi experience.
Introduction to MetaStreet and Ascend XP
MetaStreet, a permissionless structured credit protocol, has redefined financing for illiquid onchain assets. From artwork to luxury watches, any asset with an ETH address becomes eligible for liquidity under MetaStreet's innovative approach. The protocol, which has facilitated over $100M of lending volume within eight months of its mainnet launch, introduces its next evolution – the Ascend XP rewards program.
Ascend XP is designed to incentivize community participation by rewarding active engagement with the protocol. This guide outlines the essentials of the Ascend program, including its timeline, XP distribution methods, and tips for stacking bonus XP effectively.En savoir plus
Earning XP: Reserve and Prestige Actions
Earning XP within Ascend revolves around two primary channels: Reserve Actions and Prestige Actions. Reserve Actions form the backbone of XP distribution, accounting for 80% of total XP. Participants can earn XP through various activities such as depositing wstETH into MetaStreet’s Lending Towers and supplying liquidity to Liquid Credit Token pools on Curve Finance. These actions not only yield XP but also enable participants to mint Liquid Credit Tokens (mwstETH), enhancing their lending capabilities within the DeFi ecosystem.
On the other hand, Prestige Actions focus on community engagement and collaboration. By sharing invite codes, completing social quests, and participating in MetaStreet events, users can earn additional XP. These actions strengthen the community and foster a collaborative environment, essential for the growth and sustainability of the protocol.
Maximizing Bonuses: The Key to Ascend
The Ascend program introduces several mechanisms to maximize XP earnings. Early participation is rewarded through a time bonus, offering a 50% XP boost on Day 1, which gradually decreases over the first ten days. Additionally, a Total Value Locked (TVL) bonus and a Supply LP Bonus further incentivize early and active participation.
Participants who skillfully navigate these bonus mechanisms can enjoy significant increases in their XP earnings, enhancing their overall yield within the MetaStreet ecosystem. By leveraging these opportunities, users can not only maximize their rewards but also contribute to the protocol's growth and success.
The Future of DeFi with MetaStreet
MetaStreet’s Ascend XP program represents a significant milestone in the journey towards unlocking debt capital markets for onchain assets. As participants engage with the protocol, earn XP, and maximize their bonuses, they contribute to a broader mission of bringing structured credit onchain and unlocking a multi-trillion dollar market.
With plans to expand support for more LST & NFT collections and continuously innovate within the DeFi space, MetaStreet invites users to join its mission. As the Ascend program unfolds, it promises to offer a unique and rewarding experience for all participants, setting a new benchmark for community engagement and financial innovation in DeFi.
Conclusion
The MetaStreet Ascend XP program offers a comprehensive and rewarding pathway for DeFi enthusiasts to engage with the protocol, earn XP, and maximize their bonuses. By participating in Reserve and Prestige Actions, leveraging bonus mechanisms, and contributing to the community, users can enhance their DeFi experience and unlock new opportunities. As MetaStreet continues to innovate and expand, the Ascend XP program stands as a testament to the platform's commitment to community engagement, financial innovation, and the democratization of access to structured credit markets.
➡️ How to airdrop farm MetaStreet:
MetaStreet established credibility as one of the largest lenders in the space and built 3 novel yield primitives:
- v1: Optimistic Value Vaults
- v2: Automatic Tranche Maker
- LCTs: Liquid Credit Tokens
Earn XP in a variety of ways, such as: Deposit, Supply LP, Share, Tweet, etc. before the program ends in May.
Let's dive in:
LAST UPDATE: 23/11/2024
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