📝Introduction
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Event: Loxodrome's Mainnet Launch Airdrop & Liquidity Minting Competition
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When: First-Half April
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Rewards: 90% of the initial $LOXO supply (10,000,000) will be allocated to the Mainnet Airdrop
Recently, there has been a notable surge in conflicts surrounding emissions and voting rights across various ve(3,3) DeFi protocols, sparking what is commonly referred to as liquidity wars. This trend originated with the Curve Wars, where the concept was initially introduced by SushiSwap. Over time, it has evolved into subsequent iterations such as the Saber Wars, Platypus Wars, and most recently, the Solidly Wars. Among these, the Solidly Wars have stood out as particularly intriguing and intense, witnessing fierce competition even before the official emissions of Solidly were initiated.
Now, the stage is set for the arrival of the Loxodrome ve(3,3) War on IoTeX.
What is Loxodrome?
Loxodrome is the liquidity hub for powering DePIN projects, pioneering next-generation ve(3,3) DEX on IoTeX . The ve(3,3) model empowers users to govern $LOXO, propose initiatives, and earn substantial rewards for supporting DePIN projects.
What's next?
To celebrate the Mainnet launch, we will hosting an exclusive Liquidity Minting Competition, offering a staggering 4,000,000 veLOXO Tokens (40% of initial supply) + 70% Per Epoch weekly in rewards for Liquidity Providers!
To maximize your rewards in the upcoming Loxodrome Liquidity Minting Competition, we strongly encourage you to collect liquidity in advance.
Phase 1: Mainnet Airdrop
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90% of the initial LOXO supply (10,000,000) will be allocated to the Mainnet Airdrop.
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Liquidity Providers will receive 40% veLOXO.
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Traders will receive 20%.
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The remaining 40% will be distributed to the community, LoxoNFT stakers, contributors, and the eco fund.
Phase 2: Epoch Emission
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Total emissions per epoch (one week): 375,000 $LOXO
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Liquidity Providers will receive 70% $LOXO.
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veLOXO Rebase, voters, and LoxoNFT Stakers will receive 30%.
Benefits for Participants on Liquidity Minting Competition for DePIN protocols and individuals alike:
- Total Rewards: 4,000,000 veLOXO (Initial supply)+ 70% Per Epoch (weekly rewards).
The keystone
When you earn veLOXO from Phare 1, you can continue earning 70% LOXO emission per epoch by casting your veLOXO as votes for pools
DePIN Protocols WIN-WIN Mechanism:
Efficient Liquidity Increase:
Through the liquidity minting mechanism, $LOXO tokens are allocated to different pools based on their liquidity ranking. By participating in the competition, protocols can enhance their pool's liquidity, thereby earning more tokens for their pool.
Community Growth:
Protocols can decide to distribute the $LOXO tokens earned from the competition to incentivize their community and holders to provide liquidity for their pool by using Bribe function, fostering growth and engagement. This approach not only facilitates community growth but also acknowledges the significant increase in liquidity.
Participating Mechanism:
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Pre-Launch Engagement:
Before the official launch of Loxodrome's Mainnet, participants can announce their intention to join the liquidity competition. They can incentivize their community members to add liquidity to their current pair in the decentralized exchange (DEX) on mimo.exchange by rewarding tokens that are minted through providing liquidity. Once Loxodrome's Mainnet is launched, participants can transfer their accumulated liquidity to Loxodrome to participate in the liquidity minting competition. This approach allows participants to accumulate liquidity in advance, enhancing their liquidity rate across all pools when the competition begins. By encouraging community engagement and increasing liquidity, participants can maximize their earnings through the competition mechanism.
In this way, participants can earn three types of benefits, including fostering community growth, increasing liquidity, and acquiring $LOXO tokens.
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Post-Launch Engagement:
Alternatively, participants may choose not to announce their participation in the Loxodrome competition in advance. Instead, they can wait until the competition starts on the Mainnet. Once the competition commences, participants can create their pair in Loxodrome with a small amount of liquidity. They can then directly incentivize their community to participate in the liquidity competition. In this scenario, participants still benefit from both community and liquidity growth. As the $LOXO tokens are allocated directly to liquidity providers, participants can earn rewards based on the liquidity provided to their pool.
These engagement strategies offer participants flexibility in their approach to the competition, ensuring they can maximize their benefits in terms of community engagement, liquidity growth, and acquisition of $LOXO tokens.
$LOXO Allocation Rules
1. Allocation Based on Liquidity Ranking
The allocation of veLOXO to pools will be determined by their liquidity ranking. Simply, pools with higher liquidity will receive a larger share of tokens.
For example, if Pool A has $20k USDT liquidity, representing 50% of the total liquidity, it will be allocated 50% of the LOXO tokens in the competition. Pool B, with $15k USDT liquidity (37.5% of total liquidity), will receive 37.5% of the tokens. Pool C, with $5k USDT liquidity (12.5% of total liquidity), will receive 12.5% of the tokens.
In essence, pools with higher liquidity will earn more tokens from the competition.
2. Direct Airdrop to Liquidity Providers
The tokens will be airdropped directly to the wallets of liquidity providers, ensuring a seamless and efficient distribution process.
That’s it!
Loxodrome presents a distinctive opportunity within the ve(3,3) space with innovative model and forthcoming launch on IoTeX. Participation in the Liquidity Minting Competition promises not only attractive rewards but also an unparalleled DeFi experience.
We eagerly anticipate your esteemed participation, contributing to the success of Loxodrome's Mainnet Launch Party.
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