Catalyst is a liquidity protocol and an exchange where you can swap assets, and provide liquidity to earn fees. Now the platform has announced an airdrop exclusively for users who provide liquidity. Also, for swapping your assets cross-chains, you will earn more rewards.
In this article, we will go through a step-by-step process to claim the Catalyst airdrop. Also, we will examine the benefits, eligibility criteria, ending date, and more details. Let’s start.
What is The Catalyst?
Catalyst is primarily a liquidity engine. A major advantage of the protocol is that it is permissionless and has the potential to benefit the modular future. Catalyst acts as an automated market maker (AMM) that allows users to swap assets from different blockchains.
Catalyst can be deployed on any chain and users can connect to any other blockchains to provide liquidity. Users can swap a number of tokens, and the platform hasn’t yet released a native token. So, the rewards will be in popular coins like ETH, USDT, and others.
Eligibility Criteria For the Airdrop
- US Citizens Are Not Eligible: Permanent US residents, people located in the US, or registered agents in the US, cannot apply for the Catalyst airdrop.
- VPN Usage is Restricted: If you are using a VPN to access the site, you won’t be able to register an account.
- Keep ETH Balance: Also, keep in mind that you will be using the Optimism network to connect the wallet. So, the gas fee will be in ETH. The native token on this network is ETH. It is the token used for gas fees. Keep ETH in your wallet to engage in the site activities.
Is This Airdrop Free?
No, as we covered earlier, the airdrop works by providing your assets to liquidity pools and engaging in swapping. Remember to engage with an ETH wallet. Otherwise, your assets may become lost forever.
Step-by-Step Guide to Claim the Airdrop
- Visit Catalyst Alphadrops: Visit Catalyst Exchange and navigate to the web app. You will see an option to reach the Alphadrops.
- Connect Your Wallet: Now navigate to the right corner and click “Connect Wallet”. Only 6 wallets are allowed to connect: MetaMask, Ronin Wallet, Frame, Coinbase Wallet, WalletConnect, and Capsule
- Switch to Optimism: Allow the request to add a network, and then proceed. Now, click “Approve” to switch the network to Optimism.
- Complete Registration: Agree to terms and conditions, and sign the agreement. Approve the signature request and Sign. Now you have successfully registered on the platform.
- Catalyst Eggs: Now the tasks begin. You have to earn Eggs by engaging in the Catalyst ecosystem. The major tasks involve providing liquidity and swapping your assets cross-chains. Eggs are distributed every Friday. Also, you have a Loyalty Score which will increase according to your progress.
- Referral Rewards: Refer your friends and family to earn more Eggs. You have to create and share your referral link. You can choose your desired username while creating the link.
How to Withdraw Your Earnings?
The Catalyst airdrop rewards are generated as Eggs that can later be converted to real rewards. The Catylist platform doesn’t have a native token. So you can swap the Eggs to the desired crypto you want.
Is Catalyst A Trustable Airdrop?
Catalyst seems like a trustable project. However, this is not a free airdrop and you have to lock your funds for a certain amount of time. So, it is important to do as much as research possible before transferring your valuable funds.
Final Thoughts
Liquidity pool airdrops are not so common, and if you want to try something unique you can engage with the Catalyst platform. But, always verify their trustworthiness.
Go through the Catalyst platform’s whitepaper, read their docs and blogs, and engage in their social media communities, to get a clear picture of the project. Always invest with caution. Thank you for reading, and happy airdropping.
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