DOT festival on Astar, event #2: deposit DOT on AstridDAO or use DOT LPs on ArthSwap
The DOT Festival on Astar continues with event #2. With twice the rewards compared to the 1st event, the bonus of this one is 2,000,000 ASTR. This time there are two ways how to grab a portion of the reward: DOT deposits on AstridDAO and LP staking of WASTR/DOT or USDC/DOT on ArthSwap.
While the 1st event of the DOT festival brought the participants 1,000,000 ASTR, the second one doubles the reward to 2,000,000 ASTR. You can use two different actions to grab a part of the bonus.
Bonus no. 1: DOT deposit on AstridDAO with rewards of 1,200,000 ASTR
Bonus no. 2: LP farming with rewards of 800,000 ASTR
How to apply for a part of the 1,2m ASTR bonus with AstridDAO?
- bridge DOT to Astar by using Astar Portal
- Go to the Astrid DAO app
- Pick DOT asset
- Enable DOT “Allowance”
- Open a vault to deposit DOT and borrow BAI stablecoin (maintain a healthy collateral ratio around 150%-250% to avoid being liquidated)
- Get your AstarPass if you haven't yet (important part!)
How to apply for a part of the 800k ASTR bonus with ArthSwap?
- bridge DOT to Astar by using Astar Portal
- provide liquidity for DOT/WASTR pool or DOT/USDC pool on ArthSwap
- stake your LP tokens into DOT/WASTR-LP farm and DOT/USDC-LP farm
- get your AstarPass, which maps your native substrate account to an EVM account — the registration manual can be found here
About the projects
AstridDAO is a decentralized global reserve bank, which uses DOT as collateral for minting USD-pegged stablecoin BAI at 0% interest. With BAI you can earn more rewards by farming it in the BAI-USDC LP on ArthSwap or in the 4BAI pool on Sirius Finance, or alternatively in the stability pool on AstridDAO.
ArthSwap is a one-stop Defi protocol that focuses mainly on swapping, staking, and liquidity mining, so it can be considered as an “Astar-native” dApp.
Final word
Event #2 will last from 6/9 to 6/16. Your rewards are proportional to your proportion to the total amount of all participants. Bonus rewards will be directed to both AstridDAO DOT deposits and ArthSwap WASTR/DOT or USDC/DOT farming. For AstridDAO there is reserved 1,200,000 ASTR and for ArthSwap 800,000 ASTR rewards.
All rewards in ASTR earned during those three events will be vested for 3 months, so until the DOT festival ends.
