Currently, the entire airdrop environment is leaning towards "information asymmetry." The basic pattern is that projects with high exposure and high volume attract users in droves, while many good projects with great concepts go unnoticed, resulting in little attention to the investment research of many niche projects.
The end result is that popular projects are basically not worth investing in, such as zkSync and Blast, while niche projects like AI ARENA and Lista DAO (which had few participants when the first version of the tutorial was released) turn out to be profitable.
Today, we continue to take the unconventional route and introduce a project called Yield Pass NFT (total supply of 10,000) with only 3u—Master Protocol. Let's see how to lure it.
This article is mainly divided into the following sections:
- Introduction to Master Protocol
- Pre-airdrop tutorial
- Basic tutorial
I. Introduction to Master Protocol
Master Protocol is an emerging interest rate swap market and points farm accelerator in the Bitcoin ecosystem. It is a one-stop financial platform tailored for all LSD assets, gradually supporting all LST in different ecosystems. It simplifies interaction and transactions within the Bitcoin network, aggregates users and assets, and promotes liquidity and interaction within the ecosystem. Master also acts as a central hub, connecting local Bitcoin promoters with various applications, supporting the development of new applications, and improving the utility of the Bitcoin infrastructure. By introducing a re-staking layer, Master Protocol enhances its infrastructure to meet the rapid expansion needs of the ecosystem, promotes connections between various DeFi protocols and second-layer solutions, and completely solves the fragmentation problem caused by the development and prosperity of BTC Layer2, enhancing the composability, operability, and overall utility of BTC in the ecosystem.
There's a lot of gibberish, isn't it like reading a book of prophecy? I feel the same way, so this article does not pretend to write a technical analysis article, as it is meaningless. Let's understand Master Protocol simply:
Ethereum is now being played to waste by zkSync and Blast, and it will take a long time to rebuild trust. As early as the second half of 23, the market realized this problem, coinciding with the resolution of the Btc expansion problem by Mingwen at that time, making BTC Layer2 possible. Many forward-thinking development teams began to deploy BTC Layer2, and many excellent projects emerged, such as:
Babylon, Botanix, Bitlayer, BounceBit, B², and Merlin, well-known L2 solutions, have taken the lead in implementing various methods to achieve Bitcoin staking.
(I) But with so much nonsense, what does it have to do with Master Protocol?
Basically, many projects in BTC Layer2 ensure on-chain security through staking, similar to the concept of ETH's PoS. With so much capital staked on BTC Layer2, if users stake all their funds on BTC Layer2, it will cause a shortage of liquidity, just like the severe liquidity shortage caused by LSD on ETH in the first quarter.
This liquidity shortage persisted until projects like Pendle appeared on ETH, and the emergence of such new narratives once again activated the market.
BTC Layer2 has only just begun, and it has already experienced the old path on ETH. At this time, a project like Pendle is needed to integrate the entire LSD market, and Master Protocol is such a general presence.
(II) The value of Master Protocol is to do BTC-FI
Master Protocol can be seen as the Eigenlayer+Pendle of the Bitcoin ecosystem, but it cannot be regarded as a simple replica of Pendle. The value of Master Protocol is to do BTC-FI in this value chain.
This sentence is understood as follows:
The explosion of LST and Restaking protocols in the Bitcoin ecosystem makes it crucial to have a market for pricing and interest rate swaps for these Wrap income assets in the Bitcoin ecosystem. Master Protocol is precisely the following three functions, occupying the key ecological position of BTC-FI (liberating the productivity efficiency of BTC assets) by integrating income assets in the BTC ecosystem, becoming the cornerstone of income in the Bitcoin ecosystem. As a result, Master Protocol recently completed a seed round of financing with a valuation of $25 million.
Three core products of Master Protocol:
- Master Yield Market (flagship product, already launched, what we are luring now)
- Master Liquid Staking
- Master Liquid Restaking
(III) About Master Yield Market
Currently, the main focus is on Master Yield Market.
Simply put, Master Yield Market is a platform for interest trading that supports multiple BTC L2s, aggregates various Bitcoin ecosystem assets, and splits them into MPT (principal) and MYT (interest) for user trading.
- MPT is equivalent to fixed income products, locking in income in advance
- MYT is equivalent to a futures market for points (can be sold on DEX at any time), so there is room for speculation on expected returns. The initial price of MYT is low, and the capital utilization rate will be greatly increased.
Currently, it supports stBB and stBBTC from BounceBit, and will support more assets in the future: BounceBit — Pell, Bitlayer — Pell, Multiple L2 — Lorenzo, Botanix — Master Protocol
II. Pre-airdrop tutorial
(I) Things to know before interacting
NFT staking is completed on BASE, so make sure you have ETH on your BASE chain for transaction fees (you can ignore this step if you're not buying NFT).
Use the following cross-chain tool to transfer ETH to BASE (ignore if already done):
Note the cross-chain transaction fees for ETH, the official fees are a bit high, 30u for one and 9u for another.
So I chose zkSync to transfer to BASE, where the transaction fee can be controlled within 1u.
(II) About Airdrop Interaction Method
This time, it's an additional airdrop activity launched on the core product, Yield Market, by Master. There are two ways to participate:
- Trading Mining Pool: Earn points by trading on the Yield Market (1 USDT trading volume = 1 point).
- New User Mining Pool: Staking Yield Pass can earn 200 points daily. Both the inviter and the invitee can receive a mystery box (10–200 points), provided that the invitee is a valid Staker or reaches a trading volume of 100 USDT. The more invitees, the higher the point bonus.
(III) About Genesis NFT—Genesis Master Pass
Genesis Master Pass is the genesis NFT of Master Protocol, with a total of 6500. It was also Free Mint and completed in 5 minutes.
It is divided by rarity:
- SSR — 500, produces 150 points daily, one-click mining
- SR — 1500, produces 40 points daily, completes daily tasks for mining
- R — 4500, produces 10 points daily, completes daily tasks for mining
- SSR staking ratio: over 75%
- Current market prices are: 117u, 26u, 11u respectively
In addition to earning points through staking, Genesis Master Pass also introduces a synthesis gameplay, forming a deflationary cycle. Three R cards can be synthesized into one SR card, and three SR cards can be synthesized into one SSR card. Therefore, the number of Pass cards will become scarcer over time.
(IV) About Master Yield Pass
Master Yield Pass is launched simultaneously with the LSDFi product, Master Yield Market:
- Total supply: 10,000
- Price: Free (already minted)
- Current floor price: 3u
Do you think Master Yield Pass (total supply 10,000, current floor price 3u) has greater potential for growth, or does Genesis Master Pass (total supply 6500, floor price 11u) have greater potential for growth? It's up to you how to play. This article is a low-cost airdrop lure tutorial, and the following tutorial uses Master Yield Pass as an example.
What is the use of Master Yield Pass?
Staking Master Yield Pass has the following benefits:
- Earn high points from the trading pool and referral pool to receive token airdrops
- Share commissions from the income market
- Additional benefits, which will be announced by the official in the future
Trading Mining Pool: Staking Yield Pass will enjoy a 300% point bonus.
New User Mining Pool: Staking Yield Pass can earn 200 points daily, and inviting friends can receive unlimited bonus buffs!
III. Airdrop Tutorial
Here, we assume interaction with Master Yield Pass. You can buy it for 3u on OKEx, but it's okay if you don't have it, as trading also earns points.
Step One: Staking Master Yield Pass (Skip to Step Three for trading if you don't have NFT)
Related link: https://campaign.masterprotocol.xyz/myp/referral/?referralCode=UCJ2Y
- Click on Mint&Stake
- Click on Stake
- Click "Stake" twice
- Upon successful staking, it will be displayed as shown below
Step Two: Create an Invitation Link
- Click on Referral
- Click on Generate Referral Code to create your own invitation link
- Then invite as many people as possible
Step Three: Trading Mining
Trade on the Yield Market to earn points (1 USDT trading volume = 1 point). Here's how to do it using $BB as an example:
- Buy some $BB on Binance
- Transfer it to your BounceBit network address
- Go to https://portal.bouncebit.io/stake and exchange $BB for stBB (transaction fees are settled in $BB tokens)
- Exchange stBB for MPT on the Yield Market
Yield Market link: https://yield.masterprotocol.xyz/markets
- Generally, choose the fixed income method (low risk)
- After entering, trade stBB for MPT based on the trading volume data
The above is the entire interaction process. Currently, the official has bonus activities, and as early users, increasing trading volume is the best approach.
The project may release tokens in the third quarter, during which time we can use multiple accounts to increase our points ranking to within the top 5000 (don't go into the top 100).
Each airdrop can be operated with multiple accounts. Currently, the multi-account tool I use is MorLogin fingerprint browser, which has been tested and is secure:
https://www.morelogin.com/?from=AANvwSB8onX4
Regarding the most concerning wallet plugin, MoreLogin has implemented multiple layers of encryption. Even if someone with malicious intent gains access to your computer and takes the wallet plugin file, they won't be able to crack it. This is what I have been using. Other browsers with Chrome kernel have shared data and are not encrypted.
The tutorial for multi-account operation is as follows: https://link.medium.com/XaKjrKeLTKb
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