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TABLE OF CONTENTS

Guide To Earning Points On Resolv Labs For A Potential Airdrop

3.7
| by
Stephanie Goh
|
Edited by
Loke Choon Khei
-

How to Interact with Resolv and Earn Resolv Points

Resolv Labs was founded in June 2023 by Fedor Chmilev, Ivan Kozlov, and Tim Shekikhachev with the intention of introducing a new type of stablecoin. The project refers to the USR stablecoin as a true delta-neutral stablecoin because of its ability to hedge Ethereum’s price fluctuation against USD using perpetual futures. Users can now earn points on Resolv by holding the USR stablecoin as well as the project’s second token, Resolv Liquidity Provider (RLP).


Key Takeaways

  • Resolv Labs is introducing a new stablecoin referred to as a true delta-neutral stablecoin that aims to minimize risks typically faced by other stablecoins. 

  • The project was co-founded by Fedor Chmilve, Ivan Kozlov, and Tim Shekikhachev in June 2023.

  • Interested users are now able to earn points by interacting with the platform and participating in on-chain activities such as holding USR and RLP.


Resolv airdrop farming article cover

Why Stablecoins Need Innovation

Stablecoins offer a more steady way of investing money in the blockchain space as it is able to maintain a stable value. These tokens are usually pegged to a specific asset, such as a fiat currency like the U.S dollar or commodities like gold. By implementing a pegging mechanism, investors can avoid volatility that is commonly experienced with other tokens. 

However, stablecoins also come with their own set of risks. Since many of them are backed by real money or assets such as bonds, the risks lie in the stability and security of these assets. While real world asset (RWA) backed stablecoins have worked well so far, their usage goes against the ethos of decentralization through off-chain reliance. 

Alternatively, there are crypto-native methods of maintaining the value of stablecoins through different  mechanisms like over collateralization, algorithms, and smart contracts to maintain price stability, but these methods have generally not worked out (Terra collapse). The market is currently dominated by RWA-backed stablecoins, creating a lucrative opportunity for innovative crypto-native stablecoins to reclaim market share

Resolv Labs Introduces A New Crypto-native Backed Stablecoin

Resolv Labs aims to more effectively manage these risks by introducing a new type of stablecoin known as a true delta-neutral stablecoin. The USR stablecoin is backed by Ethereum (ETH) to ensure that for every issued token, there is an equivalent value of ETH held in reserve. 

Resolv then maintains the ETH in a collateral pool with a majority held on-chain and staked while a portion is also held in institutional custody as margin for futures. The pool forms a delta-neutral portfolio by fully hedging ETH’s price fluctuation against USD with perpetual futures.

On top of that, the protocol has a second token that acts as insurance for USR holders to further minimize risks. The Resolv Liquidity Provider (RLP) token is designed to absorb risks associated with market volatility and counterparty defaults. The excess ETH from the collateral pool backing USR also acts as backing for RLP with the value reflected in the price of RLP. This ensures there are additional funds available to cover potential losses.

The dual-token system allows Resolv to separate risks into the two tokens for more efficient management. At the same time, there is no need to rely on traditional banks or real world assets. Users are also able to earn yield by staking USR, holding RLP, and providing liquidity through various platforms.

Why We Might See a Resolv Airdrop Soon

Resolv Labs was co-founded by Fedor Chmilev, Ivan Kozlov, and Tim Shekikhachev in June 2023. It has successfully grown its user base since then, achieving over $450 million in Total Value Locked (TVL) at the time of writing.

Resolv Labs will be launching a governance token, RESOLV, which will give holders voting power for governance proposals which could include adjustment of protocol metrics, new integrations, and allocation of grants. RESOLV will also be allocated into bug bounty programs and community-sourced protocol support. The token generation event date will be announced at a later time. 

Interested users can join the protocol’s points program to earn points for participating in Resolv and its tokens. The program is divided into several epochs with multiple ways to earn points and earlier participants will have opportunities for better rewards. 

In anticipation of the protocol’s token launch and the opportunity to earn more points, now is a good time to interact with Resolv. 

However, do take note that the Resolv Labs team have not made any official announcements regarding a token airdrop at the time of writing. Therefore, proceeding with steps below does not guarantee a future token airdrop allocation.

How to Earn Resolv Points

Step 1: Connect Wallet

Go to https://app.resolv.xyz/overview and Connect Wallet in the top right corner.

Connect wallet to Resolv

You can choose from a few wallets but in this guide we will be using MetaMask

If you are new to crypto, you can also select I don’t have a wallet and it will lead you to a list of Ethereum wallets to get started with.

wallet selection

After connecting your wallet, head to the menu bar on top and go to the Points page. 

On this page you will need to Agree and Sign the terms and conditions agreement by Resolv. 

T&C signing

Step 2: Hold USR

Once that is done, your points page will display your points dashboard which includes your total points earned, the points earned daily, your boosts, and all the activities you can participate in to earn. 

Under featured activities, you will see Hold USR which provides 30 points daily. Go to Start Earning and you will be redirected to the swap page.

points summary and swap page

At the time of writing, Resolv does not support native swapping of assets on the Base network. 

You can proceed to swap your tokens to USR on the Ethereum network using the Resolv swap page. The tokens currently available for swapping are DAI (now rebranded to USDS), USDC, USDT, and USDe.

After inputting the amount, just Approve and Confirm the transaction in your wallet.

approval window

If you prefer to swap on the Base network to save money on fees, then in the dropdown menu select Swap into Resolv via CoW Swap.

swapping via cowswap

This will open up CoW Swap in a new page where you can then choose the tokens on Base that you want to swap to USR. Do note that at the time of writing, we needed to type in USR and import the token. For security reasons, paste the contract address of USR (For your convenience: 0x35E5dB674D8e93a03d814FA0ADa70731efe8a4b9) on Base instead of searching for it manually.

Once you have done so, input the amount you want to swap then Allow CoW Swap to use your tokens and complete the Swap.

token approval for cowswap

Step 3: Hold RLP

Next, go back to the points page and click on Start Earning under Hold RLP. 

RLP selection window

Back on the swap page, you can choose the token you want to swap to RLP. Input the amount then Approve and Confirm the transaction. 

swap and approval for RLP

At the time of writing, CoW Swap does not support swapping tokens to RLP on the Base network. 

However, if you still prefer to swap on Base, you can do so via Aerodrome, a decentralized exchange on Base. 

First, go to https://aerodrome.finance/swap and Connect your wallet.

aerodrome swapping for RLP

You can choose from a few types of wallets. We will be using the same MetaMask wallet which is a Browser Wallet.

aerodrome wallet selection

Once your wallet is connected, on the Swap page you can choose which token you want to swap to RLP. 

To get the RLP token, you can copy and paste the Base RLP contract address which is: 0xC31389794Ffac23331E0D9F611b7953f90AA5fDC. 

RLP contract address search

Then input your desired amount, Swap ETH for RLP, and confirm the transaction in your wallet. 

swapping for RLP on aerodrome

Step 4: Refer Others

Referring others is an easy way to boost up your earnings since each successfully referred user will earn you 10% of their points.

On the points page, go to Referral Points and Copy your referral link.

referral selection window

Step 5: Perform Other Activities (Optional)

This step is optional because it requires performing activities such as providing liquidity and holding a project Yield Token (YT) which also requires more capital. Holding USR and RLP tokens are sufficient enough to earn points on Resolv.

However, if you are keen on exploring the different ways to earn more points, we recommend that you take the time to go through the different projects and activities listed on the points page. Do note that these activities and boosts may change depending on the Epoch being run. 

other ways to farm points

Conclusion

Resolv Labs aims to bring innovation to the stablecoin sector by introducing a true delta-neutral stablecoin alongside a second token that works in tandem to minimize risks. Official documents note that there will be a governance token in the future. The project is currently running its points program for users to interact with the platform and its tokens which could lead to an eventual airdrop. 

Note that this content is only for educational purposes and no part was meant to be financial advice. As a standard, always do your own research before investing in cryptocurrency or interacting with any cryptocurrency protocols.

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CoinGecko’s content aims to demystify the crypto industry. While certain posts you see may be sponsored, we strive to uphold the highest standards of editorial quality and integrity, and do not publish any content that has not been vetted by our editors.
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Stephanie Goh
Stephanie Goh
Stephanie has a keen interest in breaking down complex topics into beginner-friendly pieces. She has been in the crypto space since 2020 and wants to continue contributing to the demystification of the crypto industry to a broader audience.

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