Nexon Finance’s testnet is now live on zkSync, and users of the protocol can potentially qualify for an airdrop. In this article, we will explain what Nexon Finance is and what you can do to position yourself for the airdrop.
Nexon Finance ($NXN) Airdrop Step-by-Step Guide
Here’s how to get a potential Nexon Finance ($NXN) airdrop:
- Connect Your Wallet to zkSync Era Testnet
- Bridge ETH Goerli to zkSync
- Claim Testnet Tokens on Nexon Finance
- Use the Supply, Borrow, Withdraw, and Repay Features
- Complete Crew3 Tasks
See below for more details.
What is Nexon Finance?
Nexon Finance offers a collection of DeFi lending services that enhance the efficiency of lending and borrowing crypto assets for users. These services are supported by zkSync, a highly secure ZK-rollup that supports almost all tokens and offers instant, low-cost transactions.
By taking advantage of zkSync’s low network congestion, Nexon is able to reduce the impact of high Ethereum gas fees while maintaining security and user control. The Nexon ecosystem includes various products such as pooled lending and peer-to-peer lending, with the goal of creating a comprehensive suite of offerings.
Does Nexon Finance have a Token?
Yes, Nexon Finance confirmed in its whitepaper that there will be a $NXN token. The token offers governance capabilities, enabling stakeholders to make important decisions related to user incentives, grants, and protocol parameters. Additionally, the token provides revenue sharing opportunities, allowing users to earn a portion of the protocol’s revenue by holding the rbNXN token. This incentivizes long-term supporters of the project to continue backing it.
According to its tokenomics, $NXN has a total supply of 97 million tokens. 61% of it will be allocated to community incentives, which usually means an airdrop-opportunity.
How to Receive Potential $NXN Airdrop?
The best chance to receive the $NXN airdrop is to interact with their testnet to be included in the snapshot. Here’s a step-by-step guide:
- Connect Your Wallet to zkSync Era Testnet
Go to testnet.nexon.finance and connect your MetaMask wallet. Switch the network to zkSync Era Testnet (or Alpha Testnet if you added the RPC last year).
- Bridge ETH Goerli to zkSync
Claim some Goerli ETH for gas fees from faucets such as goerli-faucet.pk910.de or goerlifaucet.com. Then, bridge them to zkSync using the zkSync Bridge. It will take a few minutes for the assets to pop up in zkSync.
- Claim Testnet Tokens on Nexon Finance
Click on “Claim Tokens” on the top right hand corner of the screen, then click on “Tweet & Proceed” to start using the testnet.
- Use the Supply, Borrow, Withdraw, and Repay Features
Select any asset and enable the “collateral” button on the right side of the tab. You can choose to supply, borrow, withdraw, and repay these assets.
- Complete Crew3 Tasks
Nexon Finance has a Crew3 page with various tasks. Connect your Discord account and complete these tasks for a higher chance of receiving an airdrop.
Airdrop Review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Although Nexon Finance has not officially confirmed the $NXN airdrop, their tokenomics show a large portion of the tokens will be allocated for community incentives. This usually indicates an airdrop for testnet users.
Airdropped Token Allocation: $NXN has a total supply of 97 million tokens. 61% of it will be allocated to community incentives (e.g. airdrops)
Airdrop Difficulty: It is very easy to qualify for the airdrop. All you have to do is connect to the zkSync testnet network in your MetaMask, claim testnet tokens, and start supplying and borrowing assets.
Token Utility: $NXN is a governance token that also has revenue-sharing capabilities, incentivizing long-term supporters.
Token Lockup: 12% and 2% of the total supply are allocated to team members and advisors, respectively. There will be a 6-month lockup and 3-year linear vesting for each.
