Introduction to the Lorenzo Airdrop Points System
The Lorenzo Protocol introduces a points mechanism aimed at encouraging active user participation:
- Ways to earn points: Users can earn Lorenzo points by staking Bitcoin and participating in other ecosystem activities.
- Uses of points: These points can be used to unlock additional benefits within the ecosystem, such as exclusive rewards, priority participation opportunities, or other incentives.
This points system not only enhances user experience but also encourages users to contribute to the long-term development of the protocol.
Lorenzo APP Airdrop Tutorial, visit Lorenzo APP and start staking BTC
- Connect Wallet
- Open Lorenzo APP, connect your EVM wallet or BTC wallet.
- Use the invitation code to get rewards
- Click on “Profile” option, enter our invitation code WrHBgtSh, and you will receive an additional 5% reward points, added to your staking points.
Prepare Bitcoin
- Make sure you hold some Bitcoin (BTC).
- You can buy Bitcoin through Binance and enjoy a 20% trading fee rebate.
Ways to stake BTC
- Directly stake BTC: Go to the “Staking” page in the Lorenzo APP and stake your Bitcoin directly.
- Stake BTCB (Bitcoin on Binance Smart Chain):
- Withdraw Bitcoin from Binance to the BSC network to obtain BTCB.
- Or use the Owlto bridging service to transfer Bitcoin to the BSC mainnet for BTCB.
Start earning points
- Once you start staking, you will find that your points increase every day, helping you unlock more rewards and benefits in the Lorenzo ecosystem.
Introduction to the Lorenzo Protocol
The Lorenzo Protocol provides users with a new way to deeply integrate Bitcoin staking with the decentralized finance (DeFi) ecosystem while freeing itself from the limitations of traditional staking systems.
Related reading: Airdrop tutorials and info like VC from Lorenzo
Core Mechanism
Liquid Re-staking Model
In the Lorenzo protocol, users generate two tokens through staking Bitcoin:
- Liquid Principal Token (LPT): Represents the Bitcoin principal staked by users, has liquidity, and can be traded or used in the DeFi ecosystem.
- Yield Accumulation Token (YAT): Tied to the yield generated by staking, used to accumulate and distribute earnings.
This liquid re-staking mechanism allows users to operate flexibly within the DeFi ecosystem without worrying about the lock-up period constraints of traditional staking systems, thereby enhancing capital utilization.
Integration with Babylon
The Lorenzo Protocol enhances security through integration with Babylon. This integration anchors protocol operations to the Bitcoin mainnet, providing the following benefits:
- Security: Reliant on the strong consensus mechanism of the Bitcoin mainnet ensures the robustness and reliability of operations.
- Cross-network Protection: Also helps protect the security of other proof-of-stake (PoS) networks, forming an interoperable security system.
Unique Value of Lorenzo
- Capital Flexibility: Through the design of LPT and YAT, users can earn staking rewards while maintaining liquidity.
- Security Assurance: Deep integration with the Bitcoin mainnet provides an additional layer of security for user operations.
- Community Incentives: The points system encourages user participation and contributions, further strengthening the Lorenzo ecosystem.
The Lorenzo Protocol, through its innovative liquid re-staking mechanism and seamless integration with Bitcoin, offers users a more flexible and secure staking and earning model, promising to become an important bridge between DeFi and the Bitcoin ecosystem.