TGE Launch Date: April 28th 2PM UTC
Reactor, the protocol to maximize yield in Terra: it is open source, transparent, governed by the community. To be community-governed, our goal is to distribute RCT tokens into the hands of active community members in the Terra ecosystem.
At launch, a minimum of will be distributed as follows:
- Phase 0: Airdrop — 500,000 (0.5%) RCT
- Phase 1: RCT-UST Liquidity Bootstrapping Pool — 2,500,000 (2.5%) RCT
- Phase 2: ConvertDrop event — 6,000,000 (6%) RCT
The primary purpose of The Big Bang is to bootstrap Reactor and distribute RCT tokens into the hands of active community members in the Terra ecosystem.
Participants will receive RCTs from Convertdrop as rewards. With the launch of Reactor, the user’s reASTRO will automatically be staked into Reactor’s reASTRO staking pool to continue farming and receive ASTRO from Reactor’s performance fee alongside with RCT token.
Phase 0: The RCT Airdrop (0.5%)
The following groups will receive a distribution of a maximum 500,000 RCT tokens:
- Astroport (350k)
- Astroport bLuna-Luna LP holders (50K)
- ANC token stakers (100k)
Airdrop amount for each category:
- Minimum: 1 $RCT
- Maximum: 1000 $RCT
Snapshot Block Height:
Everything except xASTRO stakers, snapshot was taken on March 24th with block height 6974667
For xASTRO stakers, the snapshot was taken on April 8th with block height 7110000
Airdrop can be claimed after Phase-2. User can check their eligibility at https://bigbang.reactor.money/
Phase-1: RCT-UST LBP (2.5%)
A successful, fair offering means that the token will ultimately be owned and managed by its community. The challenge is that even if a fair offering is the goal, distribution is still fraught with difficulties surrounding fair price discovery, front-running by bots, whales buying up initial supply, or other unfair actions. Thus, we choose LBP as the first phase of our launch.
We are using Astroport’s LBP contracts for Phase-1 to guarantee fairness and security. During this 3-day event, you will be able to get your hands on $RCT tokens. After LBP is finished, Reactor will withdraw 70% of the funds (LP), the rest of LP will be transferred into the Astroport RCT-UST pool.
UST gained from Phase-1 would become Reactor’s strategic fund, mainly used to increase eligible veToken as $ASTRO, $ANC, and tokens of other potential projects.
LBP parameters:
The Reactor Token Launch Phase 1 will have the following key parameters:
- Start Date: Apr 28th 2PM UTC
- Duration: 3 days (72 hours)
- Initial RCT: 2,500,000
- Initial UST: 600,000
- Start Weights: RCT 96%: UST, 4%
- End Weights: RCT, 50%: UST, 50%
Phase-2: Convertdrop (6%-11%)
RCT distribution initial amount in Phase-2 : 6,000,000 RCT
- For reASTRO stakers: 5,000,000 RCT
- For reANC stakers: 1,000,000 RCT
An extra 5,000,000 RCT (5% of the total) will be included as a reward for The Big Bang event if particular thresholds are met. Otherwise, what is left of the 5% will be returned as Astroport LP Farming Rewards. Details on the threshold will be published during phase-2. Users’ extra rewards will be calculated and distributed at the end of phase-2.
Phase-2 will last for 7 days. Users can participate in Convertdrop at any time within the 7 days.
In Phase-2, ASTRO, xASTRO, and ANC holders can convert their tokens into reASTRO and reANC and stake them with a locking period to earn early-stage convert rewards.
Users’ reANC or reASTRO can be locked with different lock periods, each lock period will have one chance to withdraw. In the first five days, participants can withdraw any amount of their origin tokens. Starting from day 6, participants will only be able to withdraw up to 50% of the tokens. On day 7, each participant’s withdrawal allowance will fall linearly from 50% to 0%.
The convert ratio of xASTRO and reASTRO will be 1:1, while the convert ratio for ASTRO and reASTRO will depend on the convert ratio of xASTRO:ASTRO (currently at ~1:1.06).
Users can choose a 0–12 month locking period to boost RCT Convertdrop reward. The boost mechanism is as follows:
Lock periods
- 0, 3, 6, 9, 12 month
Lock boost parameters:
- Max boost up to 16x
When the lock expires, users will be able to reclaim their ASTRO/xASTRO/ANC in the form of reASTRO/reANC, which can immediately be exchanged for xASTRO/ANC.
The initial liquidity for reASTRO/xASTRO will be provided after our main protocol launch. We will use a portion of the proceeds from Phase-1 LBP to buy ASTRO, and convert half of them into reASTRO.
Convertdrop rewards will be distributed 8 times every 3-weeks through the vlRCT vault. Users can unlock their RCT in the vlRCT vault after a 3-week locking period. The first round reward will be distributed immediately at the end of phase-2. The whole process is shown in the graph below:
With the launch of Reactor, the user’s reASTRO will automatically be staked into Reactor’s reASTRO staking pool to continue farming and receive ASTRO from Reactor’s performance fee alongside with RCT token.
We are accumulating ANC as a strategic reserve. User’s reANC will automatically be staked when Anchor’s official VE-structure and boost mechanism is released. We will return users’ ANC if ANC does not have a boost mechanism. We have allocated additional rewards for the Anchor protocol mechanism in the future.
Phase-3: After Big Bang
After Phase-2, users can claim their airdrop rewards on Reactor’s website. Users can withdraw their unlocked reASTRO and reANC and claim RCT rewards from phase-2.
The vlRCT vault feature will be launched in Phase-3. RCT holders can lock RCT into the vlRCT vault to accumulate vlRCT early. For details about the vlRCT mechanism, please check out our vlRCT article in the near future.
DISCLAIMER
This article does not constitute investment advice. Before interacting with Reactor, please review the project disclaimers.
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