Ragnar Protocol Airdrop Review: They Will be Airdropping Free RGN

About Ragnar Protocol Airdrop

Ragnar Protocol Airdrop is a protocol offering its users booster returns on Yeti Finance pools and all the benefits without having to own $YETI. Ragnar is able to do this by allowing YETI holders to convert it into rgnYETI, which allows Ragnar to accumulate veYETI. By doing this we give the YETI a new purpose, users converting their YETI to rgnYETI will acces to a portion of the platform’s revenue and a new token. They will be airdropping free RGN to users who complete testnet actions. Complete the testnet actions and give feedback to their Discord channel to be eligible for free RGN.

Step-by-Step Guide:

1. Visit the Ragnar Protocol Airdrop website.
2. Connect your Metamask wallet.
3. Change the network to Avalanche Fuji Testnet.
4. Get some test AVAX tokens from here.
5. Now go to the Ragnar testnet page and click on “Mint”.
6. Mint some test tokens.
7. Go to “Farm” and stake some tokens.
8. Go to “Lock” and lock some tokens.
9. Go to “Claim” after accumulating some rewards and claim it.
10. Now join their Discord channel and give some feedback.
11. Users who’ve completed testnet actions will get free RGN tokens.
12. For more information regarding the airdrop, see this Medium article.

What is Ragnar Finance?

Ragnar Protocol Airdrop is a protocol offering its users booster returns on Yeti Finance pools and all the benefits without having to own $YETI.

Ragnar is able to do this by allowing YETI holders to convert it into rgnYETI, which allows Ragnar to accumulate veYETI. By doing this they give the YETI a new purpose, users converting their YETI to rgnYETI will acces to a portion of the platform’s revenue and a new token.

What is Ragnar School?

Ragnar Protocol Airdrop is a space where users can learn and share their knowledge. There will be 2 different types of users, “teachers” and “students”. Teachers will be responsible for sharing their borrowing strategy on Yeti Finance while describing it, so that students can learn and copy their strategies.

What is Ragnar Transfer?

Ragnar transfer is a transfer solution that allows you to move multiple tokens (ERC20 & ERC721) to another wallet in one go.

What is Yeti Finance?

Yeti Finance is a cross-margin lending protocol on Avalanche that allows users to borrow up to 21x against their portfolio of LP tokens, staked assets such as sJOE and sAVAX, and yield-bearing stablecoins in a single debt position for 0% interest.

Utility of the Protocol

Protocols such as Yeti, Traderjoe or Platypus are the precursors of a new era on Avalanche, their arrival contributes to the strength and autonomy of the network. Each of them has adopted a similar and very well known model, the veToken, allowing to obtain advantages and a right of governance. However, a problem persists, in order for the community to have access to all the advantages of the platform, it is necessary to hold and stake a part of its treasury in order to have access to all the advantages of the platform, this is where they come in (Vector, Echidna, Convex, Ragnar…)

Following the example of colleagues Vector or Convex, Ragnar Protocol Airdrop are going to offer to all users the possibility to use Yeti Finance and all the advantages that veToken brings without holding any. At first they will have our own reserve of YETI in order to generate veYETI but they will also allow the community to deposit YETI so that we can accumulate them and offer all the advantages with the best returns.

Converting and staking YETI

The first and most important feature will be the conversion and staking of your YETI.

At first a conversion of your YETI into rgnYETI will be necessary with a ratio of 1:1.

After that your rngYETI will appear on your wallet and you will be able to stake them.

Your rgnYETI will generate double rewards in RGN and YETI or Collateral which will come from the platform’s performance fees more details here.