Plaza Finance - An incentivized test season on Base Sepolia
What is Plaza Finance?
Plaza Finance is a levered bond market built on Base (currently on TestNet). Its ecosystem revolves around two tokens: bondETH (a token that pays weekly returns in USDC) and levETH (a leveraged token backed by ETH and wstETH). Both assets generate portfolio growth over time through volatility and the coupon system associated with the bonds.
Potential Airdrop: Plaza Points
Like almost every new DeFi protocol, Plaza also features its own point system. The advantage here is that it's currently on TestNet, so farming points is completely free.
You can earn points in four ways:
- Buying bondETH
- Selling bondETH
- Buying levETH
- Selling levETH
Each action earns you around 4 points per day (plus Multipliers, if you link your social accounts like X, Discord and so on). The tokens required for the TestNet are provided by Plaza itself through a convenient "Get TestNet Tokens" option on the Plaza dashboard.
Objectively, this is a free airdrop farming opportunity, so there's not much to critique. Spend two or three minutes daily, and you'll accumulate points.
How to farm it - Step by step
1. Have a Compatible Wallet
Since the airdrop is farmed on Base Testnet, you need to use a wallet that can connect to the blockchain.
There are plenty of wallets you can pick, but I'd suggest to use one between MetaMask, Rabby and Frames (personal preference, but you can also use Trust Wallet).
Once you have your wallet ready, add Base Testnet visiting Chainlist and adding it straight up from the website.
2. Connect to Plaza Finance
Browse Plaza Finance (this link contains a referral code for the author - no benefits so far for referral or referrer) and Connect your wallet to access your Dashboard.
3. Get your test tokens (Daily)
Click on "Get Test Tokens" to receive 1 wstETH and 3000 USDC on your wallet (remember, is a Testnet, so those tokens don't have any real value!).
4. Buy and Sell bondETH (Daily)
Head to the "Earn" page, and buy bondETH using all your wstETH.
As soon as the transaction is done, sell the bondETH you bought for wstETH.
5. Buy and Sell levETH (Daily)
Head to the "Leverage" page, and do the same buy/sell actions using USDC to acquire and sell levETH.
6. That's it!
Yeah, it is literally just like that: buy twice, sell twice, and that's it!
Each transaction will give you 4 Plaza Points (plus points multipliers), and each transaction can be done each day for 16 Plaza Points.
You can see all relevant informations regarding your status in the "Points & Rewards" section on the Dashboard page.
Also, there are additional rewards based on the level you reach (commemorative NFTs, Discord exclusive roles and so on). Try to get as high as you can to increase your chances for a bigger allocation!
