Launch: 3 PM UTC, January 5th
The official launch of THENA is fast approaching, and we need your help, Thenians, to optimize emissions from the very first epoch. To get involved, be sure to claim your airdrop, connect your wallet, and start voting, trading, and earning on THENA. Together, we can make this launch a success and build a strong foundation for the future of THENA.
$THE Emissions
On THENA, $THE emissions are decentralized and voted on a weekly basis. During each Epoch lasting 7 days, veTHE holders vote on “gauges”. At the end of an epoch, emissions are allocated to the corresponding pools based on the voting results. The amount of emissions distributed to each pool is proportional to the percentage of votes received by that pool.
In order to stay in line with our vision of a decentralized protocol, initial emissions will not be hardcoded. Instead, veTHE holders will vote from day 1 and have the full power over the fate of $THE emissions. Therefore, during EPOCH 0, there will be no emissions distributed to liquidity providers, nor bribes or fees captured by veTHE voters. $THE emissions kick-off has been planned for Epoch 1.
Important note: It is not safe to buy $THE or provide liquidity for it during EPOCH 0, before the liquidity is seeded by us.
User Timeline
- Bridge your funds to BNB chain using Multichain or Bungee (Bridge Guide)
- Check if you are eligible for the airdrop here
- Add the token addresses to your DeFi wallet, such as MetaMask:
$THE: 0xF4C8E32EaDEC4BFe97E0F595AdD0f4450a863a11
veTHE: 0xfBBF371C9B0B994EebFcC977CEf603F7f31c070D
theNFT: 0x2Af749593978CB79Ed11B9959cD82FD128BA4f8d
- Claim THE/veTHE airdrop here
- Vote on gauges right away (Guide)
- Start earning and claim your share of the revenue generated by THENA on EPOCH 1
- Participate in “Mission: Epoch 0” to share over $5,000 in prizes
EPOCH 0 Recommended Strategy — Core Pools
We define “Core Pools” as token pairs that generate high volumes on the DEX but do not have any bribing entity to incentivize their initial liquidity, i.e. $BTC, $ETH, $BNB, $BUSD, $USDT and $USDC. These pools are critical to the success of a DEX because they are a revenue source — either through direct swaps, or indirectly through internal routing. For example, most of the tokens will be paired either with $BNB, the BNB Chain native token that is required for gas to pay the network transaction fees, or $BUSD, the Binance native stablecoin. As a result, a vast number of swaps will be routed through the $BUSD-$BNB pair. The importance of deep liquidity cannot be understated when it comes to price execution.
In order to overcome the cold start problem of liquidity incentivization, the core team will vote for core pools from EPOCH 0. Thanks to our initial allocation, we will be able to optimize the liquidity where it is needed. In addition, we strongly recommend veTHE retail holders to support this initiative during EPOCH 0.
Let’s get the flywheel started!
During EPOCH 0, we strongly recommend retail users to allocate a portion of their vote towards the following core pools:
Provide liquidity between Jan 5 to Jan 11 (Epoch 0) to participate in the $5,000+ prize pool of $THE
If you are providing liquidity between Jan 5 to Jan 11, you might have a chance to be part of the “Mission: EPOCH 0” program. More information is available in our Documentation. TLDR:
- Core Pools — 10 lucky LPs that stake at least $600 worth of liquidity in the above core pools share $3,000 worth of $THE
- Partner Pools — 10 lucky LPs that stake at least $400 worth of liquidity in the partner pools share $2,000 worth of $THE
- Partner Bonus — Some partner protocols are doing raffles with extra tokens on top for depositing into their pools during Epoch 0
Important note: It is not recommended to provide liquidity for $THE pairs during EPOCH 0.
Airdrop Specifications
Protocol Airdrop: 9,500,000 veTHE
Protocols will receive their veTHE airdrop right from the launch in order to start incentivizing their liquidity on THENA. The amount for each protocol has been set based on the following criteria:
- Daily volumes of the token(s)
- Amount of weekly bribes committed
- Protocol owned liquidity deployed on THENA
- Willingness and capacity to build products on top of THENA
- Social engagement
User airdrop: 6,250,000 $THE / 6,250,000 veTHE
The user airdrop is available from the 5th of January, 2023, and it can be claimed for 3 months until the remaining tokens are burnt.
Half of $THE part of the user drop is vested linearly for a period of 3 weeks, meaning you can claim it gradually over time, or at the end of the period.
To encourage user participation and align their interests with the long-term success of THENA, the airdrop consists of 50% $THE and 50% veTHE. The wallet lists for this airdrop have been compiled by each protocol based on their own criteria, with a focus on users who have demonstrated good DeFi practices such as long-term staking, recurring token lock, and recurring participation in protocol governance. This will help ensure that the airdrop is distributed to users who are actively engaged in and committed to the DeFi ecosystem.
Initially, the amount per wallet airdropped to protocols’ users has been weighed by the share of the veTHE allocation received by the protocol itself (with some exceptions), within the total veTHE protocol airdrop.
For example, pStake initial veTHE allocation is 1.00% of the initial $THE supply, or 500,000 $THE. The total veTHE being distributed to protocols amounts to 8,425,000. As a result, pStake initial veTHE allocation is 5.93% of the total veTHE allocated to our launch protocol partners. Given the 498 wallets communicated by pStake, the initial allocation per pStake users is = (5.93%*12,500,000 $THE)/498 = 1,488 $THE.
Then, we slightly adjusted the amounts to reduce the variance of the airdrop received by users from one protocol to another, because some protocols provided very short lists, leading to abnormally high airdrops per wallet.
We have also included users on “THE List”, and those who reached at least level 5 on Discord, the latter receiving more. These add another around 2,000 users.
theNFT minter airdrop: 2,700,000 $THE / 1,800,000 veTHE
As THENA’s community founders, theNFT minters have been allocated a share of the initial supply as additional exposure to the long term success of the platform. The entirety of their airdrop will be claimable right from the launch.
Airdrop to theNFT minters will consist of 60% immediately claimable $THE, 40% veTHE.
The Future is Here
One of the key goals of THENA is to help the BNB Chain ecosystem thrive and grow by introducing new projects to the chain. To achieve this, THENA acts as an open liquidity layer that any protocol can tap into. This allows them to solve the ever-lasting liquidity problem, and take advantage of the robust infrastructure and security offered by BNB Chain.
Overall, THENA’s role as an open liquidity layer and catalyst for collaboration and innovation is an important one, and we believe it will play a key role in the continued growth and success of the BNB Chain ecosystem.
