Charlie Garcia
What is UntitledBank?
UntitledBank is a decentralized lending platform operating on the Soneium blockchain, allowing users to easily lend and borrow funds. It gained recognition as a winner of the esteemed Soneium Spark Incubation program, showcasing its potential to transform the landscape of decentralized finance (DeFi). With comprehensive security audits conducted by ScaleBit and Besion, the platform assures users of the safety and trustworthiness of their funds.
This platform takes advantage of Soneium’s scalability and efficiency to create a strong lending environment where users can earn interest on their deposits and borrow funds when needed. By integrating traditional lending practices with innovative DeFi features, UntitledBank seeks to connect standard financial methods with decentralized alternatives.
UntitledBank airdrop Details
UntitledBank has announced an upcoming airdrop aimed at its community members, utilizing a points-based system to reward those who actively engage with the platform. The distribution of airdrop tokens will depend on users’ earned U points, which can be accumulated through a variety of interactions within the platform and participation in community activities. This method ensures equitable rewards based on each user’s level of involvement.
The current points campaign enables users to earn U points through events like lending, borrowing, and engaging with the community. The more points users gather, the greater their possible airdrop rewards.
How to Participate in the UntitledBank Airdrop
Getting Started on Soneium
- Set up a compatible Web3 wallet (Rabby is recommended)
- Buy ETH from an exchange such as Binance
- Transfer ETH to your Ethereum mainnet wallet
- Use Relay or Superbridge to move your ETH to the Soneium blockchain
- Convert ETH to WETH, USDC.e, and/or ASTAR using DEXs like SoneFi
- Make sure you have sufficient WETH, USDC.e, and/or ASTAR tokens for interacting with the platform
Earning U Points
Deposit Strategy
- Go to the UntitledBank platform and find the “Earn” section
- Deposit your assets into the lending pools
- Receive 1 U point per hour for every $100 worth of assets deposited
- Check your deposits and rewards from the platform dashboard
Borrowing Strategy
- Utilize the borrowing function on UntitledBank
- Secure loans using your collateral
- Obtain 2 U points per hour for every $100 borrowed
- Carefully manage your borrowing to keep a healthy collateral balance
Referral Program
- Visit the “Rewards” section on UntitledBank
- Create your personal referral link
- Share this link with others who might join
- Get a 10% bonus on the points earned by your referrals
Community Engagement
- Join the official UntitledBank Discord server
- Participate in events and discussions within the community
- Gain more Engage points through active contributions
- Upgrade your membership card to increase point multipliers
Tips for Maximizing Your Rewards
- Keep a balanced mix of deposits and borrowing to enhance point accumulation
- Regularly check community events that award bonus points
- Consider making larger deposits or borrowings for efficient point earning
- Stay involved in the Discord community to unlock more rewards
- Keep track of your card status and aim for upgrades to gain better multipliers
Frequently Asked Questions
What assets can I deposit on UntitledBank?
You can deposit WETH, USDC.e, or ASTAR tokens on the Soneium blockchain.
How are points calculated?
Points accrue hourly based on your deposit and borrowing figures, earning 1 point per $100 in deposits and 2 points per $100 in borrowing.
How long will the points campaign last?
The specific timeframe for the points campaign has yet to be announced. Keep an eye on official communications for updates.
Are there any risks involved?
Although the platform is audited, users should remain aware of typical DeFi risks such as smart contract vulnerabilities, market fluctuations, and possible liquidation during borrowing.
Conclusion
The UntitledBank airdrop offers users a chance to engage with an exciting DeFi platform while potentially earning rewards. By adhering to this guide and actively participating, users can enhance their opportunities of receiving a beneficial airdrop. Be sure to stay connected with the community and regularly check your positions to achieve the best outcomes.
If you’re looking for more projects that don’t yet have a token but might issue governance tokens in the future, check out our list of potential retroactive airdrops to ensure you don’t miss the next DeFi opportunity!
Also, remember to follow us on Twitter, Telegram, & Facebook, and subscribe to our newsletter for updates on new airdrops!
Overview
- Website: https://untitledbank.co/
- Documentation: Visit now
- Twitter:
- Discord Chat: