> For the complete documentation index, see [llms.txt](https://docs.dolomite.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.dolomite.io/campaign-guides/yt-glp-launch-campaign.md).

# YT-GLP Launch Campaign

The [YT-GLP Launch Campaign](https://galxe.com/dolomite/campaign/GCfRBUPtGi) 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 YT-GLP. The following guide will describe how to achieve each of the three Credentials for the YT-GLP Launch Campaign.

This campaign utilizes [Galxe](https://galxe.com/dolomite) for tracking progress and distributing XP. After all three Credentials are met on the [YT-GLP Launch Campaign](https://galxe.com/dolomite/campaign/GCfRBUPtGi), you can 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" %}
Note: YT-GLP has expired as of March, 2024. Therefore, this campaign is no longer possible to complete at this time.
{% endhint %}

### Obtaining YT-GLP

YT-GLP (Yield Token GLP) could be obtained by swapping or minting through Pendle. When minting, users received both PT-GLP (Principal Token GLP) and YT-GLP. See Dolomite's historical [Pendle YT documentation](/integrations/pendle/pendle-yt.md) for background.

YT-GLP (March 2024) token address (Arbitrum):

* 0x56051f8e46b67b4d286454995dBC6F5f3C433E34

### Asset Considerations

As YT-GLP is a rather unique token, how it interacts with Dolomite is different from other assets integrated into Dolomite. Here are a few key details necessary to understanding the integration fully:

1. **Isolation Mode Level 2**

On Dolomite's [Risk Mitigation](https://docs.dolomite.io/risk-mitigation) page, YT-GLP is listed as a Level 2 Isolation Mode asset. Level 2 Isolation Mode means that YT-GLP can contain only specific collateral assets or specific debt assets in the same position. In this case, a Borrow Position can only have `WETH`, `DAI`, `USDC`, `USDT`, `WBTC`, and `MIM` debt.

2. **Forced Expiration**

Due to the dynamics of Pendle's GLP asset, YT-GLP decays to $0 upon maturity (March 2024) and due to this decay also has inherent negative APR. Therefore, Dolomite has a feature, "Forced Expiration," to preserve the health and solvency of markets that have a maturity such as YT-GLP. Forced Expiration is set to "TRUE" for YT-GLP, meaning the maximum position duration is the lesser of 4 weeks OR 1 week until maturity.

3. **Negative APR**

As you might have noticed, on Dolomite YT-GLP's APR is significantly negative. Though this might seem concerning at a first glance, it is intended and accurate. As explained previously, each token enables you to earn 1 GLP's worth of yield until its maturity in March of 2024, meaning constant decay till maturity. This decay also translates to a constant decrease in value, or negative APR.

If you wish to understand more about these considerations, visit Dolomite's [Risk Management](/risk-management.md) page or historical [Pendle YT documentation](/integrations/pendle/pendle-yt.md).

### Deposit YT-GLP into Dolomite

The historical campaign required users to deposit YT-GLP into a Dolomite Balance. YT-GLP expired in March 2024, so these steps can no longer be completed.

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2FJ8pXeGeMTZqlfo8zmP2v%2Fimage.png?alt=media&amp;token=f002ad9e-157f-4a06-b71a-754abbd7de35" alt="" width="499"><figcaption></figcaption></figure>

### Open a Borrow Position with YT-GLP

Only one Borrow Position needs to be open (for 24 hours) to qualify for this credential. One position for "Open a Borrow Position with YT-GLP" and "Borrow USDC against YT-GLP" within the same position.

Go to the [Borrow Page](https://app.dolomite.io/borrow) and click `Open new Borrow Position` to start the Position creation process. Select YT-GLP from the popover asset selector and enter the amount desired for collateral. After selecting `Add` and confirming transaction, you are now 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](https://docs.dolomite.io/guide/borrow) for more borrow position support.

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2F6BdnWqHDx20O9a0UTbwd%2Fimage.png?alt=media&amp;token=209cde95-56bf-4060-97f4-c55594947d90" alt=""><figcaption></figcaption></figure>

### Borrow USDC.e against YT-GLP

Locate your new Borrow Position on the page, you should see it with YT-GLP listed as collateral. Click on the Borrow Position to expand it and show additional information. Click `Manage Loan` then `Borrow` on a that 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 67% LTV, visit [Risk Mitigation](https://docs.dolomite.io/risk-mitigation) for more info). Click the `Borrow` button after checking the inputs are correct. After a successful transaction, you are now qualified for the third credential after holding the position open for 24 hours. See the [Borrow Guide](https://docs.dolomite.io/guide/borrow) for more borrow position support.

<figure><img src="https://1945963910-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FX64bpiBusNgcRH6dN4AS%2Fuploads%2FPEZioYTS42Oyy7yDvuye%2Fimage.png?alt=media&amp;token=6f58a099-59d4-440d-b25e-9f4ad35d8f45" alt=""><figcaption></figcaption></figure>

Congratulations! You've completed the YT-GLP 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.