USDY Launch Campaign

The USDY 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 USDY on Dolomite. The following guide will describe how to achieve the three credentials for the USDY Launch Campaign.

This campaign utilizes Galxe for tracking progress and distributing XP. After completing all of the credentials on the USDY 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.

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.

USDY might not be available in your region.

Credentials

  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.

  1. 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.

  1. 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.

Use the following guides for any additional action-specific help:

Depositing To Dolomite Balance:

Using Zap:

Opening a Borrow Position:

Example

The following steps show one method for fully completing this Campaign.

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.

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:

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.

On the Balances page, select the Swap 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

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.

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.

The above example using 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.

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.

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