It is a very commemorative day today. Muse Finance, a long-waited innovative DeFi platform, has commenced its 1st ever Lockdrop. Lockdrop is a “Premier Ticket” to join the ecosystem Muse Finance creates from the initial phase. Muse FInance’s next generation DeFi platforms include Wrap, Liquid Staking, Swap and Lending Platform. Muse Finance has a clear vision to bridge with multi chains and provides more freedom to its staking assets. Lockdrop is a threshold for access to incentives that have been successfully nurtured by the recent DeFi innovation.
What is Muse Finance?
Muse Finance is Decentralised Finance Platform where staking users can receive rewards generated by staking and simultaneously add benetid through wrapper, swapping, lending and yield farming.
What is Lockdrop?
Lockdrop is a generally low-risk token incentivization mechanism. Instead of joining token sales with assets, Lockdrop considers “opportunity loss” as a collateral and distributes tokens in return of the valued loss. It is a common way of a token distribution mechanism in the DeFi industry. Users lock their assets on the smart contract for a certain period of time, and after the expiration of the pre-contracted time, assets locking will be lifted and tokens will be distributed.
How does Muse Finance’s Lockdrop work?
Muse Finance will continuously launch its core products from July and access to these products needs Muse tokens that play a quintessential role in Muse ecosystem. Once Muse products are launched, users will need to acquire Muse tokens through trading platforms in return of other assets.
Therefore, it is a great opportunity for users to receive Muse tokens beforehand and to get users prepared to join the next-generation DeFi products.
Muse Finance’s Lockdrop period is set on the smart contract from June 15, 2021 to July 14, 2021. During this period, users can lock their assets through its interface.
Hereunder given how to join the Lockdrop
- Connect your wallet through Wallet Connect or Metamask
- Choose one of 3 assets (ETH, wBTC or USDT)
- Insert the amount of asset you want to lock
- Confirm your request
Once Lockdrop finishes?
In order to unlock your assets after the lockdrop period, you need to use the same wallet you used for locking your assets. This allows the security of your assets since once it is locked on the smart contract, no one is able to touch your assets.
When you receive your unlocked assets, then you will receive Muse tokens. You need to prepare a wallet to be compatible with Muse tokens. We prefer the Moonstake Wallet.
Muse Finance’s product will be launched soon after the Lockdrop period is consumed. As written above, Lockdrop is the gateway for accessing the rest of the products from the beginning. First-mover advantage will work and those who participate in Muse Swap and Lending Platform to lock their assets into their liquidity pools will receive more rewards. Joining them will mostly need Muse tokens and it is the right timing for users to receive tokens before big waves of other products come.