Understanding ZeroFi
ZeroFi represents a groundbreaking cross-chain bridging protocol designed to integrate non-EVM assets such as Bitcoin (BTC) and Monero (XMR) with decentralized finance (DeFi) ecosystems on Ethereum and other EVM-compatible networks. This protocol effectively wraps these native cryptocurrencies into ERC-20 tokens, termed zAssets, ensuring that each token is 1:1 backed and readily convertible.
The innovative platform addresses a significant barrier in the DeFi landscape: vast sums of BTC, XMR, and similar assets are often excluded due to their inability to engage directly with Ethereum-based protocols. ZeroFi offers a non-custodial solution, enabling asset holders to participate in activities such as lending, borrowing, and trading while retaining ownership of their original assets.
Currently, ZeroFi is operating in the testnet phase, having not secured any external funding as of yet. The ZFI token remains pending, with plans for its distribution slated for a future date.
Details About the ZeroFi Airdrop
ZeroFi has announced a token airdrop that will distribute 10% of the total ZFI supply to early adopters. Users who engage with the testnet bridge and are involved during the initial beta phase of the mainnet launch, expected around late Q4 2025, will be eligible for rewards.
The outlined tokenomics further detail that another 20% is earmarked for community incentives, while 30% is designated for liquidity mining and staking rewards. The team has yet to reveal precise criteria for distribution, dates for claiming, or allocations per wallet. Actively participating in the testnet phase is crucial for qualifying for the airdrop.
Steps to Engage in the ZeroFi Airdrop
Step 1: Acquire Sepolia Test ETH
Head to a Sepolia faucet to load your wallet (Rabby is a recommended choice) with test ETH to cover gas fees.
Step 2: Get XMR
Download the Cake Wallet app on your mobile or MacOS device, and create wallets for both Ethereum and Monero. Purchase a small amount of ETH from Binance and transfer it to your Cake Wallet. Copy your XMR address, switch to your ETH wallet, then navigate to “Swap” to exchange ETH for XMR. Paste your XMR address, enter the desired ETH amount, and hit “Swap”. Confirm the transaction and wait for XMR to show up in your wallet.
Step 3: Add zXMR as a Custom Token
Open your Rabby browser wallet, select “Custom Networks”, and then proceed to “Token”. Enter the zXMR contract address: 0x0150614896eea01ce6Cb09C63B09d65fFf810A43.
Step 4: Wrap XMR to zXMR
Go to the ZeroFi bridge. Choose XMR as the source asset and zXMR as the destination. Input your Ethereum wallet address and press “Initialize Bridge”. Wait for the XMR deposit address to appear, deposit a small amount (no more than 0.001 XMR is advisable) from your Cake Wallet, and confirm the wrap transaction.
Step 5: Unwrap zXMR back to XMR
To reverse the process, select zXMR as the source and XMR as the destination. Complete the unwrap transaction to validate the bridge’s full functionality.
Step 6: Execute Multiple Bridge Transactions
Engage in multiple wrap and unwrap transactions to enhance your testnet activity. A higher number of transactions could positively influence your airdrop rate.
Common Questions
What types of assets can I bridge using ZeroFi?
The core focus of ZeroFi is on non-EVM assets, particularly Bitcoin and Monero. The testnet currently allows bridging XMR, with plans for additional assets upon mainnet launch.
Is a real XMR balance necessary?
Indeed, a small amount (0.001 XMR) is required for transactions.
When will the ZFI token be launched?
No specific launch date has been announced. The token will debut following the completion of the testnet and the initiation of the mainnet.
How is the airdrop allocation determined?
While the exact allocation criteria have not been disclosed, testnet activity and early mainnet participation are confirmed as factors for eligibility.
Is there a minimum requirement for transactions?
A mandatory minimum transaction amount has not been specified. However, carrying out multiple bridge transactions likely enhances your allocation prospects compared to executing a single transaction.
Can I still participate after the mainnet launch?
Absolutely. The airdrop encompasses users from both the testnet and the early beta mainnet phase, extending the eligibility window.
Final Thoughts
The ZeroFi airdrop presents a straightforward route for qualification through active testnet engagement. This protocol fills a crucial market void, enabling XMR holders to tap into Ethereum DeFi without relinquishing their original assets.
Complete the testnet bridging process and stay plugged into community channels to secure your eligibility. Keep an eye on announcements regarding the mainnet launch schedule to remain engaged during the early beta phase.
Are you interested in exploring more projects without launched tokens and potential for future governance airdrops? Check out our list of potential retroactive airdrops to stay ahead of the next big DeFi airdrop!
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