Aries Markets is a universal DeFi protocol on the Aptos blockchain that focuses on developing lending functionality. They have recently launched a system that rewards users with points for providing liquidity and using borrowing mechanisms.
To interact with the dApps and potentially be eligible for future drops, users can follow the steps outlined below:
1. Visit the Aries Markets website and connect their Twitter account and wallet.
2. Click on “Go To App” and select the asset in which they want to make a deposit under the “Lending” tab.
3. Enter the desired amount and confirm the deposit.
4. To use the borrowing mechanism, select the desired asset and open the “Borrow” tab.
It is important to note that each dollar deposited in the protocol earns 1 point, while each dollar borrowed earns 3 points per day. However, to receive points, the minimum amount stored in the protocol must be $100 or more.
Users should also be aware of the Risk Factor indicator when using the borrowing mechanism. If the price of the collateral asset significantly decreases, their position may be liquidated.
Earned points can be viewed on the “Points” tab, and users can also invite friends using their referral link to earn additional rewards.
The Aries Markets project is likely to have support from Aptos, as they have been mentioned on Aptos’ Twitter account. Additionally, there are other dApps available for users to explore for additional activities.
In conclusion, Aries Markets offers a DeFi protocol with lending functionality on the Aptos blockchain. Users can earn points by providing liquidity and using borrowing mechanisms. The project may have support from Aptos, and there is a referral system in place. It is important to conduct thorough research and not solely rely on this information for investment decisions.
For more details, visit the Aries Markets website, their X (Twitter) account, or their Discord channel.
