Arbitrum Odyssey Week 2 Activity Guide: Interaction with Yield Protocol and GMX Project

This week is the second week of the Arbitrum Odyssey event, where participants need to complete interaction tasks for the Yield Protocol and GMX projects. This guide will detail the interaction steps for these two projects, helping you successfully obtain the NFT rewards for week 2.

Basic Information of the Event

• Task time: June 29, 2022, 01:00 to July 5, 2022, 00:59
• NFT claim time: after 01:00 on July 6, 2022
• After completing the task, you can receive the corresponding NFT in Project Galaxy.

Yield Protocol Project Interaction Guide

Yield Protocol is a fixed-rate lending protocol based on ETH/Arbitrum, focusing on a fixed-rate lending model.

Task Requirements (Complete any one of the following)

1. Provide liquidity of ≥50U
2. Lend assets of ≥50U
3. Borrow assets of ≥100U (supported collateral assets must be used)

Note: It is recommended to choose the first two options, as they are relatively simple to operate and funds can be withdrawn at any time.

Operation Steps

1. Exchange stablecoins: Use Uniswap or Sushiswap to exchange ETH for USDC or DAI on the Arbitrum network.

2. Provide liquidity:
   • Enter the "Provide Liquidity" interface of Yield Protocol
   • Select asset and expiration date
   • Enter amount (≥50U)
   • Confirm transaction

3. Lending Assets:
   • Enter the "Lend" interface
   • Select asset and expiration date
   • Enter the loan amount (≥50U)
   • Confirm transaction

4. Borrowed Assets (Optional):
   • Enter the "Borrow" interface
   • Choose collateral and borrow assets
   • Enter the borrowing amount (≥100U)
   • Confirm Transaction

After completing any operation, you will be eligible to receive an NFT.

GMX Project Interaction Guide

GMX is a decentralized perpetual contract exchange that offers zero slippage, high leverage, and a fair and transparent trading experience.

Task Requirements (must be completed in full)

1. Conduct a leveraged contract trade (≥10U)
2. Become a liquidity provider (buy GLP)
3. Complete a SWAP transaction

Note: There is a 15-minute cooldown period for removing liquidity.

Operation Steps

1. Contract Leverage Trading:
   • Enter the GMX contract trading interface
   • Select trading pair and leverage multiple
   • Enter the transaction amount (≥10U)
   • Choose to go long or short
   • Confirm transaction

2. Provide liquidity:
   • Enter the GLP trading interface of GMX
   • Choose the asset to purchase GLP
   • Enter the purchase amount
   • Confirm transaction

3. SWAP trading:
   • Enter the GMX Swap interface
   • Select trading pair
   • Enter transaction amount
   • Confirm Transaction

After completing all the above steps, check whether the NFT claim eligibility on Project Galaxy has been activated.

Please note that this guide is for reference only. Before making any trades, be sure to carefully read the official project documentation and assess potential risks. Wishing you great success in the Arbitrum Odyssey event!