What is Sake Finance?
Sake Finance is a liquidity protocol built on Soneium that combines lending, borrowing, and stablecoin functionalities in one platform. The protocol features three main components: a lending and borrowing system, an overcollateralized stablecoin called SONE, and leveraged liquidity strategies (LLS).The lending protocol serves as the foundation of the ecosystem, supporting various assets and enabling efficient portfolio management through features like E-Mode. The SONE stablecoin is backed by yield-bearing tokens from the lending protocol, while the LLS module helps users optimize their yield through automated strategies.
Sake Finance Airdrop Details
Sake Finance has introduced a points-based reward system that tracks user participation across the protocol. While the token distribution details are yet to be announced, users can earn Sake Points through various activities within the ecosystem. These points will likely play a significant role in the protocol’s future governance system and potential token distribution.Step-by-Step Guide:
How to Participate in the Sake Finance Airdrop
- Connect your wallet to Sake Finance:
- Visit Sake Finance Rewards Program Page
- Connect your Web3 wallet and sign
- Join the Rewards Program:
- Sign the message with your wallet (first step)
- Follow @SakeFinance on Twitter and verify
- Join the Discord server and get the Sipper role
- Bridge assets to Soneium:
- You can buy assets like ETH or USDC from Binance
- You can also bridge your assets using Rhino Bridge to Soneium network
- Ensure you have enough native tokens for gas fees
- Supply assets to the protocol:
- Navigate to the Supply section
- Choose from available assets (ETH, WETH, ASTR, USDC.e)
- Deposit your assets as collateral
- Monitor your health factor
- Engage in borrowing activities:
- Use the Borrow tab to take loans
- Maintain a safe health factor above 1
- Consider borrowing SONE for additional strategies
- Complete Layer3 quests:
- Visit the Layer3 quest page
- Connect your wallet
- Complete all required tasks
Maximizing Your Points
- Maintain active positions:
- Keep a healthy supply-to-borrow ratio
- Regularly interact with the protocol
- Use multiple supported assets
- Participate in ecosystem activities:
- Provide liquidity in partner protocols
- Complete available quests
- Engage with the community
FAQ
What assets can I supply to Sake Finance?
You can supply ETH, WETH, ASTR, and USDC.e. Each asset has different collateral factors and APY rates.How is the health factor calculated?
The health factor represents the safety of your position by comparing your collateral value to borrowed amounts. Maintain it above 1 to avoid liquidation.When will the token launch?
The exact launch date hasn’t been announced. Focus on accumulating Sake Points through active participation in the protocol.How can I track my points?
Your Sake Points are visible on the Rewards page of the Sake Finance dApp when connected with your wallet.Conclusion
Sake Finance offers a comprehensive DeFi experience with multiple opportunities to earn potential rewards. By actively participating in lending, borrowing, and other protocol activities, users can position themselves for the future token distribution while earning yields on their assets.Remember to manage your positions responsibly and stay updated with the latest announcements from the Sake Finance team regarding the rewards program and potential token launch.
You're interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future? Then check out our list of potential retroactive airdrops to not miss out on the next DeFi airdrop!
- Airdrop Link: Join The Rewards Program
- Total value: n/a
Airdrop confirmed
- Platform: soneium
