Siphon Lab Season 1 Airdrop & $SIP Tokenomics
SUI NO AIRDROP, SIPHON WILL AIRDROP!
According to the Siphon Map, the Siphon team is thrilled to announce the detail of the Season 1 Airdrop that contains 10 million $SIP to be distributed to early supporters in June. The Siphon team stated that this free airdrop mainly considers increasing the circulation of $SIP and smoothing the price fluctuations after the mainnet launch, laying a more solid foundation for the long-term development of the project.
Several ways to participate:
1. Testnet participants (20%)
Our team has randomly taken 4 snapshots during the period start from April 1st at 9AM EST to May 15th at 9 AM EST. All participants who performed at least one-time stake & unstake will share the 2M $SIP pool (Note that the earlier you participated, the more $SIP airdrop you will receive!)
2. Zealy Campaign (10%)
Our Zealy (formerly CREW3) campaign incentivizes users to learn and engage with us and the community by completing predefined tasks, such as creating and sharing content, providing feedback, or simply being an active user. The more the user participate and contribute to the community, the greater their rewards!
The campaign will end on Jun 1st at 9 AM EST and the top 100 users will share the 1M $SIP pool (Note that higher ranking users will receive more $SIP tokens)
3. Discord OGs (4%)
OG is the abbreviation for “original gangster”. The @SiphonOG, on behalf of early supporters can grab a large amount of $SIP, the purpose of the OG Role is to encourage and reward our members that are keeping the community active and healthy. There are a total of 200 OG roles that will be assigned by May 31 and each OG will receive 2000 $SIP tokens.
4. Mainnet LP (66%)
As you all must know, Liquidify is the premier liquid staking protocol built on top of the SUI blockchain that aims to unlock the value of all staked SUI and maximize the capital efficiency of SUI across the ecosystem. However, in order to run a SUI validator, a minimum of 30 Million SUI is required to be staked in the pool.
The Siphon team acknowledges the various risks that our early liquidity providers (LPs) took on in order to contribute to the platform since its inception. We are immensely grateful and indebted to all our LPs, so we decided that all addresses that participated in Siphon liquidity mining from May 17 to Jun 1 will be rewarded $SIP token based on their scores (Score will be calculated based on 1.Staking period 2.Staking amount 3.Invites)
$SIP Introduction
The main purpose of issuing SIP is to be the native token of the Siphon Lab.
- Enabling decentralisation and governance of the Siphon Lab which will ensure that this core primitive remains neutral and fairly operated.
- Aligning incentives between core stakeholders such as ecosystem partners, users, validators and protocol contributors.
- Bootstrapping key network effects for the Siphon Lab.
SIP has a maximum supply of 250M.
$SIP Distribution
73% of maximum supply allocated to the community:
1. Airdrop 8%: Airdropped to community users in batches.
3. Ecosystem 65%: Rewarded to stakers/LPs for powering and securing Liquidify.
The other 27% is comprised of:
1. Core Contributors 2%: Minted after the launch of Liquidify, one-year vesting.
2. Liquidity/IDO 10%: Used for the initial liquidity, minted before the launch of Liquidify.
3. Marketing 5%: Used for all the marketing costs of Liquidify and its ecosystem, minted linearly over 12 months.
4. Early Investors 10%: Minted linearly over 24 months.
About Siphon Lab
Siphon Lab is on a mission to build the Siphon Universe on the Sui network. Siphon Universe includes the Siphon ecosystem, which consists of Tradeify and Liquidify and many other innovative products that will be launched in the future
Website: https://www.siphonlab.org/
Twitter: https://twitter.com/siphonlab
Discord: https://discord.gg/Dh94Qx9a
