Yield Farming Opportunities on zkSync Era via Overnight Pools

Introduction

In the evolving world of DeFi, new opportunities for yield farming are emerging. One such opportunity is the upcoming airdrop from zkSync Era. In this blog post, we will explore how Overnight Pools can help you take full advantage of this opportunity.

Before you can participate in yield farming on zkSync Era via Overnight Pools, there are some necessary requirements. You need to have a digital wallet, like Metamask or Rabby. You should also add zkSync Era to your wallet, which is automatic if you are using Rabby.

zkSync Era Airdrop

zkSync Era is planning to launch an airdrop. This airdrop is a great opportunity for those involved in the DeFi space to potentially increase their holdings.

zkSync Era, one of the first zero-knowledge rollups enhancing Ethereum’s scalability, is live and considering a token launch to reward early adopters with an airdrop. The recent announcement of ZK Stack, allowing developers to build custom ‘hyperchains’ on Ethereum, adds to the excitement. They have also become significant as a contender for hosting large cryptocurrency airdrops. Matter Labs, the team behind zkSync, raised $458 million, three times more than Arbitrum. Historically, large funding leads to substantial airdrops, which was observed when Arbitrum launched its governance token, ARB. Over 600k users participated, qualifying for a portion worth billions. It’s expected that the upcoming zkSync airdrop will follow suit and provide significant value based on their vast fundraising efforts.

How Overnight Can Help You with the Airdrop

Overnight is a platform that offers a range of DeFi services through their stablecoin products, including liquidity pools, yield farming, and staking via DEX Partners. By utilizing these services, you can increase your chances of qualifying for the zkSync Era airdrop.

Velocore zkSync – A Key Partner

Velocore has been a long-standing partner of Overnight and plays an integral part in Overnight’s zkSync expansion. Yield farmers can easily add and earn on Velocore by following these simple steps:

1. Go to the Velocore website: https://zksync.velocore.xyz/stable-liquidity
2. Search for USD+.
3. Click on the pool.
4. Add the amount of USD+ you wish to deposit.
5. Click “Deposit LP and Stake”.
6. Confirm the transactions.
7. You’re done!

By participating in Velocore’s zkSync pool, you’re not only increasing your chances for the zkSync Era airdrop.

Staking and Earning Rewards on PancakeSwap USD+/USDC and SyncSwap USD+/UDSC Pool

PancakeSwap USD+/USDC is a Concentrated Liquidity (CL) pool similar to Uniswap v3 pool which earns a lot from fees. Sometimes, it can go up to 150% APR. As the pool grows, there will be a larger capture of fees from swappers and people interacting on zkSync and USD+.

SyncSwap USD+/UDSC pool is currently incentivized, meaning stakers will get additional rewards and additional from fee APR.

Reiterating, before you start your journey to staking and earning rewards on PancakeSwap and SyncSwap zkSync, you need a few things first. You’ll need either a MetaMask or Rabby wallet to securely connect and manage your assets. Remember to have some Ethereum (ETH) on hand for transaction fees. Lastly, get your USD+ ready by minting it at https://app.overnight.fi. With these simple steps, you’re all set to dive into the exciting world of staking and earning!

PancakeSwap Liquidity Provision Guide

1. Go to the PancakeSwap website. (https://pancakeswap.finance)
2. Connect your digital wallet. Ensure you have enough USD+ and USDC in your wallet for liquidity provision.
3. Navigate to the “Farm” section on the website.
4. Choose the USD+/USDC pool and click on “Add USD+/USDC LP”.
5. Enter the amount of USD+ and USDC you want to add to the pool. The amounts depends on the range you choose and the tighter the range, the higher fees you will get but you also need to rebalance more often.
6. Confirm the transaction in your digital wallet.
7. Once the transaction is confirmed, you will receive LP tokens in your wallet. These represent your share of the pool.Note: You will see live updates on the UI as swap happens.

SyncSwap Liquidity Provision Guide

1. Go to the SyncSwap website and navigate to the pool.
2. Connect your digital wallet. Ensure you have enough USD+ and UDSC in your wallet for liquidity provision and click “Deposit.”
3. Add the amounts you want to Deposit. You can add single side (USDC or USD+) and the pool will automatically balance it out to the needed proportions or you can provide both by clicking “Add tokens in balanced proportion”.
4. After deciding how much you will add, click deposit and confirm all the transaction pop ups.
5. Enter the amount of USD+ and UDSC you want to add to the pool. The amounts should be
6. Confirm the transaction in your digital wallet.
7. Once the transaction is confirmed, you will receive LP tokens in your wallet. These represent your share of the pool. After which, you can check you earnings via the “Earnings” tab.

The Advantages of Both Pools

Both PancakeSwap and SyncSwap are excellent ways to increase your chances of qualifying for the zkSync Era airdrop. Not only do they offer a chance to earn rewards, but they can also help to increase your holdings, making you more likely to qualify for the airdrop.

Furthermore, it’s important to note that both PancakeSwap and SyncSwap are well-known protocols not only on zkSync but also on other chains. This widespread recognition and usage further enhance their reliability and your potential yield. By farming on these trusted platforms, you not only increase your chances of qualifying for the zkSync Era airdrop but also open yourself up to a multitude of other potential rewards and opportunities in the DeFi space.

Conclusion

In conclusion, staking and earning rewards with PancakeSwap and SyncSwap significantly increases your chances of qualifying for the zkSync Era airdrop. Overnight, being one of the first builders on the chain, provides a robust platform via their stablecoin products for you to not only increase your chances for the airdrop but also earn while you wait. This dual advantage makes your journey in the DeFi space more fruitful and potentially more lucrative. So, don’t miss out on these yield farming opportunities on zkSync Era via Overnight Pools!