LEO Airdrop E:4 - Layer Zero Part 1

Layer Zero is a popular crypto project built to increase interoperability among Layer 1 blockchains. It is designed to enable cross-chain applications to level up their "primitive communication" with other chains.

Layer Zero has massive hype on it as the project $120M at the Series B level and it reached up to $3B in total. This is a massive amount of money considering the expectation

Briefly, it is like a champions league if you consider the investors! Let's dive into it.

Now that crypto ecosystem expects Layer Zero an airdrop, let's test some operating platforms by Layer Zero.

USDC Demo Layer Zero x Circle

LayerZero x Circle has an existing testnet bridge where you can transfer Goerli Testnet assets ( USDC / ETH) to Fuji Chain-C of Avalanche.

The best part of this bridge is that you can request free Faucet USDC / ETH / AVAX to start transfers. The moment you receive free ETH to Goerli, do not waste it as it is necessary for the transactions.

Once 10 USDC is received, you will initiate the transactions from Fuji's 10 USDC to Goerli ETH. Goerli is an important testnet for developers and testers.

Initiate your free transaction from Fuji to Goerli for free. No need to use any ETH on Ethereum Mainnet.

TestBridge by Layer Zero

TestnetBridge is the platform where you will be able to transfer your Ethereum Mainnet ETH to Goerli. You may ask me the reason why you would waste your ETH by transferring it to a testnet.

When you give 1 ETH from mainnet, you get 12202 Goerli ETH that is used for transactions like ETH-Mainnet. This is the way you can create your test Goerli token without faucets.

Also, we need to understand the new dynamics by Pools on Layer Zero.

The system is developed differently. When you want to bridge your Ethereum from mainnet, there are genuine pools where there is a token that is ETH-mainnet on others.

Please check the token that is bridged. When you give ETH-Mainnet, you receive METH (that is backed by ETH on Mainnet; the token on Optimism, Arbitrum, Mainnet and Goerli Testnet). However, Goerli ETH is just a testnet token.

So, to provide liquidity, the pyramids start with transferring mainnet Ethereum.

• First, you will create METH via ETH
• Then, METH / Goerli ETH liquidity can be provided on Goerli Network

Also, you can use Optimism and Arbitrum transactions to provide liquidity.

The transactions require around 0.01 ETH on Mainnet. Contrary to the first task, this one requires some ETH to be burned for the transactions. IF you think it is worth, you can give them a try.

Personally, I will wait for transaction fees to go lower. Then, I'll do 2 things.

• I will provide liquidity on ETH / Goerli-ETH Pool on Mainnet
• I'll bridge ETH to METH on Goerli ETH to provide liquidity on the testnet.

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Previous Airdrop Hunts:

LEO Airdrops E:1 Lens Airdrop - Lensverse

LEO Airdrops E:2 zkSync Part 1

Leo Airdrops E:3 Dew GG

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We will talk about the airdrop hunt more on #hive ✌🏼