jUSDC Launch Campaign
Last updated
Last updated
The jUSDC Launch Campaign is a part of Dolomite's Community XP program. The campaign awards 10 XP for achieving a series of credentials/objectives related to jUSDC on Dolomite and the skills used in "looping" a borrow position to increase APR. The following guide will describe how to achieve each of the three credentials for the jUSDC Launch Campaign.
This campaign utilizes Galxe for tracking progress and distributing XP. After all three Credentials are met on the jUSDC Launch Campaign Galxe Page, you can go to the Galxe page to claim an OAT representing the 10 XP. If you're new to the XP program, make sure you also go to the Dolomite Discord channel and connect your Galxe account so you can receive Discord roles that match your level.
Note: jUSDC Launch Campaign does not have a minimum asset amount necessary for any of the credentials/objectives.
JonesDAO's jUSDC asset is minted when USDC is deposited to the Gamma Neutral USDC vault, or can be bought on a DEX such as Camelot.
jUSDC Arbitrum Contract Address:
At the top right of Dolomite's Balances Page, click the button with the arrow located above "DEPOSIT"/"UNLOCK" and to the right of the input field, then select jUSDC as the asset you want to deposit. Enter the desired deposit amount, then click the Deposit/Unlock button. This will initiate the wallet transaction to deposit the jUSDC to your Dolomite Balance. After the transaction succeeds, the jUSDC is now in your Dolomite Balance, and qualifies for the first Credential, "Deposit jUSDC into Dolomite." For more information on depositing assets to Dolomite, see the Depositing to Dolomite Guide.
Go to the Borrow Page and click Open new Borrow Position to start the Position creation process. Select jUSDC from the asset selector to the right of the input field, and then enter the amount desired for collateral. Click Add and approve the transaction. After the transaction is complete, you will be qualified for the second credential after holding the position open for 24 hours. However to save yourself time, don't stop at this step for 24 hours, complete the next credential now as well. See the Borrow Guide for more borrow position support.
Locate your new Borrow Position on the page, you should see it with jUSDC listed as collateral. Click on the Borrow Position to expand it and show additional information. Then click Manage Loan then the Borrow tab on the Position. Confirm that USDC.e is selected in the asset selector to the right of the input field, and enter an amount to borrow (up to 87% LTV, visit Risk Mitigation for more info). Click the Borrow button after checking the inputs are correct. After successfully confirming the transaction and holding the borrow position open for 24 hours, you will be qualified for the third Credential. See the Borrow Guide for more borrow position support.
Congratulations! You've completed the jUSDC Launch Campaign and are qualified to receive 10 XP! After the 24 hour period has passed and you have claimed your XP, feel free to close the borrow position by repaying your loan (plus any interest accrued) and then withdrawing your collateral.
Alternatively with the skills you've learned from completing this campaign, you can instead perform a "looping" strategy, whereby you take borrowed USDC, get more jUSDC, and add that jUSDC as collateral to the position. This increases the total yield you get from jUSDC compared to just holding the original amount, and is a strategy used by many users of Dolomite.
