At block 118587933 on Optimism Mainnet the $TLX governance token was deployed. With claiming now live, users should read this article which can be summarized:

• Eligible users can now claim $TLX

• 6% of the total supply has been airdropped

• TLX can be traded on Velodrome

• Users can earn TLX by locking TLX in the Genesis Locker

Eligible Users

In total, there are 1,023 unique addresses eligible for the TLX airdrop. Users who meet any of the following criteria are eligible to claim the airdrop:

• Claimed Liquidation Points

• Voted in the Ecosystem Council Election

• Completed TLX Registration

• Hold a milady and got liquidated on Synthetix Perps

• Had their milady liquidated on Blur

Claiming

TLX claim page: tlx.fi/rewards

Claimed tokens have no vest and are transferrable. The claim period for the TLX airdrop is 6 months (starting from TGE). Once the claim period is over, all unclaimed tokens will be allocated to the TLX treasury.

TLX/WETH

$TLX contract address: 0xD9cC3D70E730503E7f28c1B407389198c4B75FA2

TLX can currently be traded via the TLX/WETH pool on Velodrome. Liquidity in this pool will be incentivized with $VELO rewards (to go live soon). 10% of the total TLX supply has been allocated to AMM incentives.

Early LP Incentives

$VELO incentives for the TLX/WETH pool will not be available until the next Velodrome voting epoch begins (roughly 7 days from now). Due to this timing, early LPs of the TLX/WETH pool will receive special incentives until VELO incentives are live.

14,000 TLX tokens will be allocated to Velodrome TLX/WETH LPs per day. Once VELO incentives are live, early LPs will be airdropped their share of TLX tokens proportional to the share of liquidity they provided during this period.

Early LP incentives will conclude upon the distribution of TLX rewards to LPs and the inception of VELO incentives.

Genesis Locking

By locking TLX in the Genesis Locker, holders are granted the right to participate in TLX governance.

4% of the TLX total supply was reserved for Genesis Lockers. During the initial 26 weeks after the token launch, the entirety of this 4% allocation will be distributed to Genesis Lockers on a per-block basis and can be claimed by lockers at any time.

Claimed TLX tokens are liquid and are not subject to any vesting. All users should read the Genesis Locker section of the docs before locking.

What's next?

The TLX protocol is expected to launch within the next 4-6 weeks. In the time leading up to protocol launch, Council Elections will be held. Once all council members have been elected, the TLX protocol will be ready to go live.

Any user may nominate themselves for a Council seat. Nominees must be voted in via TLX governance (locked holders). To learn more about the upcoming Council Elections, join us on Discord.

FAQ

Where can I find more information on TLX tokenomics?

For more details, please refer to the docs.

Liquidation points: How is TLX distributed?

Liquidation points were converted to token allocation by normalizing each share based on the minimum and maximum values of points claimed. The idea was to create a distribution where the holder of the most points would get double the allocation of the holder of the least points.

How is the airdrop allocated between eligible users?

How many users met each criterion?

• Claiming liquidation points: 415

• Council voting: 118

• Registration: 264

• Milady Blur liquidations: 300

• Milady Synthetix liquidaitons: 42

What does it mean to have a milady liquidated on Blur?

If you used a milady as collateral to borrow on Blur and your (milady) collateral was liquidated, you meet the criteria.

I got liquidated on Synthetix Perps and hold a milady, am I eligible?

Yes. If you currently hold a milady and got liquidated on Synthetix perps at any time in the past, you are eligible.

Token first, then protocol?

Rather than diluting early community in pursuit of vanity metrics, it was decided that it would be better to just give them tokens. TLX will be decentralized and community-led from the very beginning. That means launching the token before the protocol is live.