How to participate in ZetaChain’s Fall Harvest
What is Fall Harvest?
Fall Harvest is a user engagement program designed to encourage users to dive deep into the ZetaChain ecosystem. From September to November 2024, users can explore and interact with nine prominent ZetaChain projects, including liquid staking, DEX, and lending/borrowing platforms.
Beyond earning ZETA tokens, participants in the Fall Harvest program can join in potential airdrops from projects like Bedrock, Puffer Finance, Eddy Finance, etc.
According to DefiLlama, ZetaChain's metrics may not yet rival those of major layer-1 blockchains like Sui and Aptos. However, the project has demonstrated substantial growth in recent times. Notably, its TVL has surged by nearly $2 million within a month. Beside that, daily trading volume has doubled from August to September 2024.
A Guide to Participating in Fall Harvest
Get ready to Harvest
Before you can dive into ZetaChain's Fall Harvest, make sure you have the following:
- Preparing ZETA tokens on ZetaChain: ZETA is the native token of the ZetaChain network. It is required to pay transaction fees when interacting with dApps during the Fall Harvest event. Although transaction fees on ZetaChain are relatively low, averaging around $0.5, users are recommended to have at least $10 - $20 (approximately 45 ZETA) to ensure sufficient funds for participating in all Fall Harvest dApps.
- In the case for users who do not currently hold any assets on ZetaChain, various bridges such as Eddy Finance, Symbiosis, etc can be utilized to transfer assets from other networks to ZetaChain.
- To interact with ZetaChain and participate in the Fall Harvest event, you'll need a Web3 wallet. Some of the most popular wallets for ZetaChain include Coin98 Super Wallet, MetaMask, etc.
- Check the ZetaChain Network Connection: Ensure that your wallet is correctly connected to the ZetaChain network. You can manually add ZetaChain to MetaMask or utilize automated network additional services.
Read more: How to use Coin98 Super Wallet.
Fall Harvest Participation Guide
Beyond offering enticing rewards, ZetaChain has crafted a detailed step-by-step guide for users exploring throughout the ecosystem's diverse dApps. This optimized path enables users to maximize capital efficiency and minimize transaction fees.
Discover the detailed guide below:
Project 1: Lending/Borrowing - Native
The inaugural project of Fall Harvest is Native - a cross-chain lending and borrowing platform spanning six different networks. The TVL reached an ATH of $60 million in March 2024. Currently, Native is the largest lending and borrowing protocol within the ZetaChain ecosystem.
To start, head over to https://native.org and connect your wallet to ZetaChain.
Once there, choose the asset you want to supply. Right here click "Supply" to provide liquidity and collateral assets.
For maximum rewards from Fall Harvest and Native's Galxe campaign, we suggest supplying USDT.ETH, ETH.ETH, or USDT.BSC. Remember to check the "Available as collateral" box to use your supplied assets for borrowing.
The final step is to choose the asset you want to borrow and click "Borrow". For optimal results, it is recommended to borrow ETH.ETH due to its high liquidity on ZetaChain.
To minimize the risk of liquidation, it's advisable to borrow an amount that is 40-50% of your collateral.
Project 2: Liquid Staking - Accumulated Finance
The next project on the Fall Harvest is Accumulated Finance, ZetaChain's largest liquid staking platform. It allows users to stake ZETA and receive liquid tokens - stZETA in return. Notably, Accumulated Finance has received investments from prominent entities such as Curve Finance, StakeDAO, etc.
To participate, users visit https://accumulated.finance/stake/zeta and connect your wallet.
Next step, specify the amount of ZETA you want to stake. Once staked, you'll receive stZETA tokens equivalent to the staked ZETA.
Project 3: Liquid Staking - Bedrock
Bedrock is the second liquid staking project in the Fall Harvest journey. In contrast to Accumulated Finance, Bedrock incentivizes users to stake zBTC (wrapped Bitcoin on the Zeta network) instead of the native ZETA token. According to DefiLlama, Bedrock has garnered significant community interest, achieving a TVL exceeding $200 million in June 2024.
If you do not have zBTC on ZetaChain, you can use Eddy Finance or Symbiosis to bridge BTC from other networks to ZetaChain.
To start staking, go to https://app.bedrock.technology/unibtc?network=zeta, input the desired amount of zBTC to stake. In return, you'll receive an equivalent amount of uniBTC tokens.
Project 4: Liquid Staking - Puffer Finance
Next up in the Fall Harvest series is Puffer Finance, a major player in the liquid staking space with a TVL of $1.7 billion. Puffer Finance was backed by prominent investors such as SNZ Capital, Brevan Howard Digital, and Binance Labs.
To get started, head over to https://quest.puffer.fi/restake and select the "Restake" option. Puffer Finance allows you to restake your ETH, stETH, or wstETH and then receive pufETH in return.
Finally, after receiving pufETH, users can utilize the Symbiosis bridge to transfer pufETH from Ethereum to ZetaChain. By doing so, you can also earn airdrop points from both Puffer Finance and Fall Harvest.
Project 5: Liquid Staking - Zearn
Zearn is one of the largest liquid staking products within the ZetaChain ecosystem. Similar to Accumulated Finance, users stake ZETA tokens and receive stZETA tokens in return. A notable feature of Zearn is that users can double their rewards by staking a minimum of 150 ZETA (approximately $70).
To participate, simply visit https://app.zearn.xyz/stake and input the desired amount of ZETA to stake.
Project 6: DEX - iZUMi Finance
After liquid staking, dive into the world of DEXs on ZetaChain with iZUMi Finance, a protocol boasting a TVL of $500 million. It offers Fall Harvest rewards for providing liquidity and swapping.
To maximize your earnings, use your liquid staking assets like stZETA and pufETH. Simply go to https://izumi.finance, choose the ZetaChain network, and start providing liquidity in the "Pools" section.
Once you've provided liquidity, you can swap tokens within that pair. For example, if you added liquidity to the pufETH/ETH.ETH pool, you can swap pufETH for ETH.ETH and vice versa.
Project 7: DEX - Symbiosis Finance
Next up is Symbiosis Finance, a multi-chain DEX with a $20 million TVL. For Fall Harvest, you just need to swap tokens on Symbiosis. The more you trade, the more ZETA tokens you earn.
To start, go to https://app.symbiosis.finance and connect your wallet. Next step, switch to ZetaChain. Then, simply select a trading pair and swap.
Project 8: DEX - Eddy Finance
According to DefiLlama, Eddy Finance is the largest DEX on ZetaChain. It achieved a trading volume of $4 million and a TVL of $1 million. Similar to iZUMi Finance, you can earn rewards by providing liquidity and swapping.
To get started, go to https://app.eddy.finance and choose a pool.
It is recommended to choose liquidity pairs involving liquid staking assets such as stZETA/ETH.ETH to optimize capital efficiency.
Once you've provided liquidity, you can swap tokens within that pair.
Tips for Fall Harvest
Maximize your Fall Harvest experience on ZetaChain by selecting the dApps that best align with your needs. Here are some helpful tips:
There is no need to participate in all projects to earn ZETA rewards
While Fall Harvest is connected to various projects, you don't have to join them all to earn ZETA tokens. This allows users to focus on the dApps that best suit their needs, avoiding the dispersion of resources and optimizing their returns.
Tailor your dApp selection to your Portfolio
Your choice of dApp should align with your capital and asset holdings. For instance, if you hold assets related to Liquid Staking, consider participating in Puffer Finance and Accumulated Finance.
Join DEX projects to hunt for additional airdrops
If you're interested in DEXs, try Eddy Finance. Eddy Finance not only gets new experience and maybe some extra airdrops.
Leverage airdrop opportunities
Beyond participating in dApps to gain experience and earn reward tokens, you can also proactively seek out additional airdrop opportunities from projects in Fall Harvest. You might discover valuable opportunities to boost your returns.
Stay alert for additional airdrop opportunities from ZetaChain
Staying updated with ZetaChain announcements will ensure you don't miss any opportunities during the Fall Harvest event. These updates will provide you with specific guidance and inform you of any critical changes throughout your participation.
Transaction fee considerations
Before engaging with any dApp, it is crucial to meticulously examine the associated transaction fees to prevent unforeseen losses. Particularly for transactions involving staking or participation in DEXs, transaction costs can significantly impact your returns.
Fall Harvest offers a platform for users to explore, engage, and earn ZETA rewards. However, a strategic approach, including careful project selection, is crucial to optimize your participation. By following these guidelines, you can maximize your potential for earning ZETA tokens and receiving additional airdrops.