xBank is a protocol that operates as a decentralized, non-custodial liquidity market. Its primary function is to manage deposits from lenders and facilitate borrowing of these deposited assets for borrowers. To safeguard lenders against illiquidity and insolvency risks, xBank employs appropriate risk management measures.
To incentivize participation, xBank plans to distribute free XB tokens through an airdrop to users who deposit or borrow funds. Users can qualify for this airdrop by connecting their zkSync wallet and engaging in depositing or borrowing activities on the platform. On September 30th, 2023, a snapshot will be taken, and eligible users will receive XB tokens based on the amount of esXB tokens held.
Here’s a step-by-step guide on how to participate:
1. Visit the xBank dashboard.
2. Connect your zkSync wallet.
3. Ensure you have ETH or USDC on zkSync ERA. If needed, acquire ETH and USDC from Binance.
4. Utilize the zkSync bridge to transfer your funds to zkSync ERA.
5. Navigate to the “Markets” section and deposit or borrow tokens.
6. By doing so, you will start earning esXB tokens.
7. These esXB tokens will be later converted to the governance token “XB” and distributed proportionally based on each user’s esXB holdings.
8. The snapshot on September 30th, 2023, will determine the allocation of XB tokens.
9. Additionally, by completing the Zealy quests, you can increase your share of the airdrop.
10. There is also a possibility of becoming eligible for the zkSync speculative airdrop.
11. If zkSync launches its own token and performs an airdrop, xBank has confirmed they will distribute an allocation of the received zkSync potential tokens.
12. For further information regarding the airdrop, refer to this tweet.
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