ZeroLend Lists Pyth Network on Zero Gravity, Launches Points-Based Campaign for PYTH Stakers
ZeroLend, a decentralized lending protocol operating on the zkSync and Manta Network, has just announced the listing of Pyth Network on its Zero Gravity platform. In conjunction with this listing, ZeroLend has launched an exciting points-based campaign exclusively for PYTH Governance Token stakers.
The announcement was conveyed through X (formerly Twitter), where ZeroLend expressed its excitement by stating that the first project to be listed on Zero Gravity is Pyth Network. It mentioned that PYTH stakers would be eligible to receive a portion of the ZERO drop. This move signifies a strategic partnership between ZeroLend and Pyth Network, two innovative projects within the decentralized finance (DeFi) space.
Excited to announce the first project to be listed on Zero Gravity is @PythNetwork 🙌🏻
If you are a $PYTH staker, you will receive a portion of the $ZERO drop https://t.co/0YNjxa8akL 🪂#ZeroLend #Pyth pic.twitter.com/cLp4PRPyAv
— ZeroLend (@zerolendxyz) January 30, 2024
Pyth Network also took to the social media platform, confirming the initiative and shedding light on the points-based campaign. It communicated that on January 30, 2024, ZeroLend had revealed a points-based campaign featuring a quest for PYTH Governance Token stakers.
The post from Pyth Network advised the audience to refer to ZeroLend’s official announcement and social channels. Additionally, it emphasized that PYTH stakers have the ability to map their ERC wallet addresses to their Solana (SPL) addresses. It was strongly recommended that readers exercise caution and take appropriate measures to protect themselves.
Empowering DeFi Users
ZeroLend‘s decentralized lending protocol operates on the zkSync and Manta Network and introduces a permissionless lending system. This means that anyone, regardless of financial or geographical background, can access the protocol’s services. Users have the ability to borrow assets like Ethereum (ETH) with a collateral factor of 85%.
ZERO, the utility and governance token within the ZeroLend ecosystem, offers various benefits to token holders, including fee discounts, rewards, and voting rights. Zero Gravity, the airdrop points platform associated with ZeroLend, plays a crucial role in incentivizing and distributing the ZERO airdrop to the community. Approximately 10% of the circulating ZERO supply at launch will be distributed to Zero Gravity Cosmonauts, who accumulate points on the Zero Gravity platform.
These points serve as the basis for receiving ZERO drops. It’s noteworthy that 10-18% of the ZERO supply will be in circulation at launch, with 1-2% of the total supply allocated for airdrops. Importantly, these airdrops will not have vesting periods and will represent 10% of the circulating supply at launch. Users participating in the Token Generation Event (TGE) will receive ZERO tokens along with the potential for other airdrops.
The listing of Pyth Network on Zero Gravity, as highlighted in ZeroLend’s momentous tweet, marks a significant leap forward in the DeFi landscape. The integration of the Zero Gravity Airdrop Platform not only enhances the utility of ZERO but also introduces novel incentives for the growing community. As DeFi continues to evolve, such developments contribute to the broader adoption and success of decentralized lending protocols.
