The Liquis Airdrop Series: Swell Network

Another week, another all-time high for total value deposited with Liquis: $3.81M!

DeFi Llama as of October 9th, 2023
DeFi Llama as of October 9th, 2023

With a month of growth behind us, the Liquis contributors are excited to share a new initiative that will look to onboard more of the DeFi community to the protocol through the end of the year. We’re further honored to share that Swell Network will be the first of our partners to collaborate with us on what we’re calling The Liquis Airdrop Series.

The Liquis Airdrop Series

Liquis allocated 10% of its governance token supply to the Liquis Launch Partner Program in order to align external DeFi projects with the initial bootstrapping of the protocol. Circa 7,240,000 of this 10,000,000 LIQ were ultimately allocated, or are in the process of being allocated, across committed partners. This 2,760,000 LIQ surplus is thus available for further bootstrapping efforts.

Enter the Liquis Airdrop Series. All launch partners will be granted a pro rata share of the above LIQ surplus in line with their launch program capital commitment that can be used to further onboard their community members to Liquis. Each airdrop campaign will be tailored to the specific needs of the partner project while maintaining the following common aspects:

  • 30-Day Reference Period

  • Completed by December 15th, 2023

  • Rewards Distributed Pro-Rata per Time-Weighted Deposits

Participants will be rewarded with LIQ subject to a six month vesting period starting on December 15th.

Liquis x Swell Network Airdrop Campaign

Swell Network was one of the earliest projects to join the Liquis Launch Program and we’re excited to have them pioneer our newest initiative. The Swell community will be receiving 6% of the Liquis Airdrop Series budget.

Swell users will earn a portion of this airdrop by completing the following sequence during the reference period:

  1. Buy swETH on Uniswap v3 deployed on Ethereum mainnet or via Swell Zaps

  2. Provide liquidity for any one of the swETH pools on Bunni

  3. Stake your swETH Bunni receipt tokens with Liquis

The airdrop reference period has yet to be set. The above sequence must be executed on the same address in order for it to qualify, and only those still staked in Liquis at the end of the period will be considered.

The reward formula will weight the amount staked with Liquis by time staked and the relative sizing of the swETH purchased. For example, if you stake swETH Bunni receipt tokens with Liquis for 20 days after having purchased 5 of the 35 total swETH bought by airdrop participants, your stake would then be multiplied by 2/3 (i.e. 20/30) and 1/7 (i.e. 5/35).

The goal of this program is to help address the depeg of swETH that currently has its Bunni gauges out of range.

For now, follow Liquis on Twitter in order to stay up to date with any updates or changes prior to the launch of the campaign.

About Swell Network

You can follow and learn more about Swell Network via the following resources:

The primary Swell Network interface can be found here.

The Latest on Liquis

Liquis will be underway shortly with a Bond Protocol program that will run through October 18th. You can read more about it here and find it on the Bond Protocol interface 14:00 UTC onwards on October 17th.

If you’re new to Liquis, make sure to join us on Twitter and Discord, as well as reading up on our documentation.

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