🔸Abstract Chain this week @AbstractChain also launched new projects and Flash Badge.
👇While getting the badge, let’s learn about the project by the way~
Badge's acquisition requirements this week are very low. Just pledge ETH on the @dinero_xyz platform and obtain absETH.
Dinero is an Ethereum earnings protocol, they have a flagship LST - pxETH.
Dinero is currently also building brand LST on major L1/L2 chains, such as beraETH, zkETH and absETH.
Let’s take absETH as an example to talk about its principle:
1/The user saves ETH on abstract
2/Dinero will cross ETH to the main network of Ethereum
3/This ETH is then staked by the liquidity as apxETH (auto-compounded pxETH)
4/apxETH is packaged into absETH and bridged back to abstract.
5/The user receives absETH
Navigate to the Abstract pledge website and pledge 0.00001 ETH: https://t.co/KU88X6aGSH
Getting the badge does not look at the number of ETH pledges, but only depends on whether you have a pledge record.
Currently, if you want to cancel the absETH stake, you have to interact with the Ethereum main network. The cost of bridging + Swap here is about 1U.
This is not recommended. However, according to Dinero, they will soon launch native redemption on Abstract.
In addition to canceling the stake, you can also directly swap absETH to ETH in the Trade panel: https://t.co/kAZFQGJ9Cf