Exclusive Airdrop Alert: veLOXO Rewards IOTX Stakers with a Bang!
The wait is finally over! The highly anticipated $veLOXO airdrop for $IOTX stakers has gone live, and it's time to reap the rewards of your loyalty and dedication. If you're one of the eligible stakers, get ready to receive a generous share of veLOXO tokens.
Check your eligibility and claim now at: https://dapp.loxodrome.xyz/loxoairdrop
The Eligibility Criteria: A Minimum of 500 IOTX Staked
To qualify for this airdrop, you need to have staked a minimum of 500 IOTX on stake.iotex.io before April 24, 2024, UTC time. If your address meets this requirement, you're in for a treat! However, if your staked amount is less than 500 IOTX, your stake will be displayed as <500, and you won't be eligible for the airdrop.
Don't be frustrated, you can also earn from other airdrop campaigns that will be coming down the road. These include activities such as liquidity minting airdrops, trading competitions, veLOXO airdrops, and LoxoNFT stakers.
Reward Distribution: A Tiered System for Maximum Fairness
The reward distribution is carefully designed to reflect the staking amount of each eligible address. The more IOTX you've staked, the more veLOXO tokens you'll receive. However, to ensure fairness for all stakers, we also consider the distribution based on the number of wallets per zone. Here's a breakdown of the reward tiers:
-
IOTX Whales: If you've staked 1 million IOTX or more, this section totally has 302 wallets, and would be allocated 7% of airdrop that equals 333.77 veLOXO tokens.
-
IOTX Enthusiasts: Stakers with 100,000 to 999,999 IOTX, the section totally has 723 wallets, and would be allocated 10% of airdrop that equals 199.17 veLOXO tokens.
-
IOTX Supporters: Those with 1,000 to 99,999 IOTX staked, this section totally has 7567 wallets, and would be allocated 76% of airdrop that equals 144.42 veLOXO tokens.
-
IOTX Fans: The minimum requirement of 500 to 999 IOTX, this section totally has 978 wallets, and would be allocated 7% of airdrop that equals 103.06748 veLOXO tokens.
Note: All veLOXO airdropped tokens will be set to the maximum lock period by default.
Why veLOXO? and why is it so valuable?
veLOXO is an ERC-721 governance token, representing a non-fungible token in the form of a NFT, it is used for governance purposes within the protocol.
veLOXO Utility
-
Protocol revenue access: veLOXO holders can vote for gauges on a weekly basis, and access 45% of the trading fees from 0 - 24 epochs (later 95%) and 100% of the bribes for the associated pool.
-
20% of total airdrop would be allocated to veLOXO holders to incentive LOXO holders to lock their token for participating into the governance
-
Governance participation: veLOXO holders can partake in governance and cast votes for the protocol improvement proposals.
veLOXO voters receive:
-
Up to 95% trading Fees: Trading fees generated by the pool(s) they vote for
-
100% Bribe Power: Bribes deposited for the pools they vote
-
7% Weekly LOXO Emission: 7% share of the weekly LOXO emissions, ensuring a steady stream of passive income.
-
Governance Rights: Exercise your governance rights to vote on pools and drive Liquidity + emissions in the protocol
How to get veLOXO?
-
Airdrops: Participation in providing liquidity, Stake LoxoNFT or Voting to pools Lock
-
Lock LOXO tokens: The lock period of LOXO tokens determines the amount of veLOXO voting power received, with longer lock periods yielding more voting power.
-
1 $LOXO locked for 2 Years = 1 $veLOXO
-
1 $LOXO locked for 1 Year = 0.5 $veLOXO
-
1 $LOXO locked for 6 months = 0.25 $veLOXO
-
1 $LOXO locked for 2 Weeks = 0.02 $veLOXO
Longer Lock = Higher Voting Power
Don't Miss Out on This Opportunity!
If you're an IOTX staker, this is your chance to receive a significant reward for your loyalty and contribution to the ecosystem. Make sure to check your staking amount and eligibility status to avoid missing out on this exciting opportunity.
Follow us to stay updated with everything on Loxodrome!
Website | Beta Mainnet | Testnet | Twitter | Telegram | Discord | Link3