Leo Learn: HARBOR AIRDROP, Cosmos Chain

Leo Learn: HARBOR AIRDROP, Cosmos Chain

Welcome back to our segment of Leo Learn where we focus on up and coming projects, meet teams and host interviews across the growing crypto sector. For today's segment we will be focusing on one of the latest airdrops being held on Cosmos Ecosystem, Harbor which is currently live.

But before we talk about the Airdrop let's first explore what Harbor is and what it brings to the Cosmos eco-system.

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What is Harbor?

Unlike many other projects starting up on Cosmos, Harbor is being built on Comdex instead of it's own stand alone Zone. Harbor builds on previous attempts to provide safe digital assets such as Juno, Atom and Osmo and receive a pegged asset called $CMST, which can than be used to trade, earn or buy more of your sought after digital asset.

The Harbor Protocol enables this through market makers and arbitrage opportunities with their StableMint feature that supports $CMST maintain its peg. At current users can deposit assets to mint $CMST in a similar manner that Compound once utilised or if you are familiar with the Former Terra (Luna) Network protocol Anchor then this is a similar system.

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Dynamic Earn Rates

Earn rates don't appear at this stage to be static with different APY offered for longer lock periods to entice users to retain their assets in the eco-system longer. The same applies to staking Harbor tokens to participate in on chain governance and receiving rewards. The 4 month period nets a 1:1 Harbor to veHarbor mint while the 1 month stake provides around 1/4.

Harbor has a number of ways for participants to earn rewards which can be seen in the below graph:

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Stability in a Nutshell

If you're still a little lost at what Harbor is that's ok the easy way to explain the protocol is that it is pretty much just like Dai but on Cosmos and will be amongst the first decentralised stable coins to be minted on chains and utilise existing measures seen on other block chains to provide an IBC compatible stable coin.

One of the issues holding Cosmos back is the inability of the chain to come up with a decent and profitable means of stability and Harbor is aiming to be the protocol that achieves a US dollar pegged stable coin native to the Cosmos.

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Harbor Airdrop!

Harbor has created air drops for a number of chains but in order to claim your entitlement you will need to undertake a few "Missions" or tasks with each task providing you a % of your allocated air drop. The more chains you have participate in the more air drop you will receive.

You can check your eligibility and claim what is allocated currently by visiting the Harbor Airdrop page from current looks not all missions are up and running as yet but there is still a bit of things to learn and do on the site.

You can also visit Harbor Medium for a step by step guide on how to claim the airdrop and what you need to do.

You can chat with the community on their official Discord follow them on their official Twitter and join their Telegram group.

Image Sources Provided supplemented by Canva Pro Subscription. This is not financial Advice and readers are advised to undertake their own research or seek professional financial services.

Posted Using LeoFinance ^Beta