# USDY Launch Campaign

The USDY Launch Campaign is a part of Dolomite's [Community XP](https://docs.dolomite.io/community-xp) program. The campaign awards 10 XP for achieving a series of credentials/objectives related to USDY on Dolomite. The following guide will describe how to achieve the three credentials for the USDY Launch Campaign.

This campaign utilizes [Galxe](https://galxe.com/dolomite) for tracking progress and distributing XP. After completing all of the credentials on the [USDY Launch Campaign Galxe Page](https://app.galxe.com/quest/dolomite/GCri8tkcuH), 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.

{% hint style="info" %}
This Campaign is intended to be done on the Mantle network, where the USDY token resides. This means if you wish to complete it, you mush have funds available on the Mantle network.
{% endhint %}

{% hint style="warning" %}
USDY might not be available in your region.
{% endhint %}

## Credentials <a href="#credentials" id="credentials"></a>

> 1. Get USDY

Simply have USDY in your `Dolomite Balance`.

* To do this, you can use one of two methods:
  * **Deposit** USDY to your `Dolomite Balance` from your wallet.
  * **Zap** an asset to USDY within Dolomite, adding it to your `Dolomite Balance`.

> 2. Zap your USDY

Use the `Zap` feature on Dolomite to trade *to* or *from* USDY.

* Can zap using any other asset, as long as you zap to or from USDY.
* Can utilize zap in any way, whether in a Borrow Position or in your Dolomite Balance.

> 3. Open a Borrow Position with USDY

Have USDY in a Borrow Position, either as collateral or debt.

* This Borrow Position must stay open, with USDY within the position, for at least **24 hours**.

{% hint style="info" %}
Use the following guides for any additional action-specific help:

**Depositing To Dolomite Balance:**

* <https://docs.dolomite.io/guide/depositing-to-dolomite>

**Using Zap:**

* <https://docs.dolomite.io/guide/zap>

**Opening a Borrow Position:**

* <https://docs.dolomite.io/guide/borrow#opening-a-borrow-position>
  {% endhint %}

## Example

The following steps show one method for fully completing this Campaign.&#x20;

#### Prerequisites:

For the following method, it is assumed that the wallet already has a balance of an asset on Dolomite - in this example, MNT is used. It is also assumed the wallet has MNT to pay gas fees for transactions.&#x20;

{% hint style="info" %}
This Campaign is done on the Mantle network. See the following guide for support bridging funds to Mantle, or help changing networks on the Dolomite app:

* <https://docs.dolomite.io/different-networks>
  {% endhint %}

#### 1. `Get USDY` and `Zap your USDY`

To complete both of these credentials in one action, simply `Zap` any asset into USDY within your `Dolomite Balance`.&#x20;

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2F60mujlS2UVzEDSsbstkL%2Fimage.png?alt=media&#x26;token=228ed77d-1686-450b-ab82-86b400443ec4" alt=""><figcaption></figcaption></figure>

On the Balances page, select the [Swap](https://docs.dolomite.io/guide/zap#zap-swap-panel) button *(highlighted in a red box in the image above)*. After a successful transaction, you will have USDY in your Dolomite Balance, and qualify for both the `Get USDY` and `Zap your USDY` credentials.

#### 2. `Open a Borrow Position with USDY`

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2FtTGQl6wLQyHSi1VcaJ78%2Fimage.png?alt=media&#x26;token=6b1987ba-4ac1-4502-970a-dd5ededd6de8" alt="" width="563"><figcaption><p>Create Borrow Position with USDY as Collateral</p></figcaption></figure>

Navigate to the Borrow tab, and click the `Open New Borrow Position` button. Select USDY from the asset selector, and enter an amount in to add as collateral in the `Borrow Position`. Review, then click the green `Add` button to initiate the transaction. After a successful transaction, you should see a new `Borrow Position` with USDY as collateral at the top of the page.&#x20;

After your `Borrow Position` is created, you can now create a *personalized* position using the unique yield-bearing USDY asset. For example, you can borrow mETH, another yield-bearing asset with a low borrow APR, maximizing the yield potential from USDY.&#x20;

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2FNWGTaGZnJIw1YNOku91J%2Fimage.png?alt=media&#x26;token=934bd9f2-998a-492d-b2bc-e26cc960b769" alt="" width="563"><figcaption></figcaption></figure>

The above example using [Zap - Trade and deposit as collateral](https://docs.dolomite.io/guide/zap#trade-and-deposit-as-collateral) loops mETH for roughly a **5x** leveraged position. This utilizes the difference in APR between USDY's Supply APR *(8.5%)* and mETH's Borrow APR *(5%)*. By looping in one-click, we have nearly doubled the USDY APR, and earn 2.5 times as many Dolomite Minerals as would've earned just simply holding USDY.

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2FTnMSxxlYB3D6CSh0YYFI%2Fimage.png?alt=media&#x26;token=c887237e-a1d4-40f6-93ec-d09e337b2eab" alt="" width="563"><figcaption><p>Created using the "Image" feature at the top of the <code>Borrow Position</code></p></figcaption></figure>

Now that we are finished personalized the Borrow Position utilizing USDY, this position will qualify for the `Open a Borrow Position with USDY` after 24 hours has passed.