EDIT: Regarding the minute value of the first phase of the airdrop, we acknowledge this was an error and lack of foresight on our behalf. In order to compensate for this, we are going to airdrop 20,000,000 $SWEEPR to all wallets who claim “Free Money” by 8/1 aka the start of Sweepr Season 1.
With the launch of $SWEEPR, it’s time to release full details regarding the community airdrop. The Sweepr team has carefully selected holders of eight NFT communities to gift tokens to as well as a thoughtful model that incentivizes and rewards participation in the Sweepr ecosystem.
Sweepr is a protocol that plans to have longevity, so minting and giving away 5% of the total supply (35,000,000 tokens) is not something to take lightly. Using airdrops within the current meta as case studies, we believe we have come up with logic that will keep the investments of LBP participatoors and early buyers safe, making for minimal price volatility during the initial airdrop claim phase.
The Power of Three
The airdrop will roll out in three phases: Free Money, Participation, and Prolonged Participation. In order to be eligible whatsoever, you must be holding a qualifying NFT during the initial snapshot period which will be held on July 1st, 2024.
The first phase is a format most users are familiar with. You hold an NFT, you sign a txn to claim tokens, and you get free money. While this methodology is great for driving short term hype and getting eyes on a new project, it often times leads to a PnD scenario where users claim the airdrop and dump their tokens, potentially never even knowing what the protocol is, let alone using it.
If you’re reading this there is a high likelihood that the aforementioned describes you at one point or another and that’s fine! With this three phase approach we hope to encourage users to at least learn about the value of Sweepr and how participating in our ecosystem can positively effect the NFT investments they made in order to receive these free tokens in the first place.
The second and third phases include higher incentives, i.e. more tokens, and urges participation in governance rounds over a period of 8 weeks.
Let’s move on to discuss each phase in greater detail.
Free Money
In the Free Money phase, Sweepr has opted to allocate 7,000,000 $SWEEPR tokens to the holders of these NFT collections and in the corresponding amounts:
- Milady Maker (1,250,000 SWEEPR)
- Pudgy Penguins (1,250,000 SWEEPR)
- Bong Bears and Rebases (1,000,000 SWEEPR)
- Honey Comb (1,000,000 SWEEPR)
- Redacted Remilio Babies (750,000 SWEEPR)
- Lil’ Pudgys (750,000 SWEEPR)
- Schizoposters (750,000 SWEEPR)
- CryptoPunks (250,000 SWEEPR)
Users who hold NFTs from multiple different collections can claim an allocation for each NFT collection they hold. Additionally, users who hold multiple NFTs of any given qualifying collection receive a multiplier to each individual collection allocation up to 5x.
1 NFT = 1x SWEEPR
2 NFT = 2x SWEEPR
3 NFT = 3x SWEEPR
4 NFT = 4x SWEEPR
5 NFT = 5x SWEEPR
Simply put, the more NFTs you hold the, greater the amount of $SWEEPR you can claim. If you’re looking to maximize your allocation, it is recommended to consolidate your assets into one wallet for the initial snapshot on July 1st.
Participation and Prolonged Participation
The Participation and Prolonged Participation phases of the airdrop will reward users who are active in the Sweepr ecosystem in a greater capacity with a total allocation of 10,000,000 $SWEEPR for phase two and 18,000,000 SWEEPR for phase three.
In order to qualify for the Participation and Prolonged Participation phases, users must have claimed $SWEEPR in the Free Money phase and have created an xSWEEPR position with the whitelisted wallet that they claimed with. $SWEEPR will then be airdropped to voters who participate in Season 1 Sweepr Acquisition Proposals — the competitive 1 vs 1 vs 1 vs 1 governance battle between four NFT collections whose winners’ floor gets swept and deployed as liquidity.
Additional to maximizing your exposure to the entirety of the airdrop allocation, by participating in these second two phases via holding xSWEEPR, users also gain exposure to revenue share rewards (ETH) and liquidity mining incentives ($SWEEPR).
Participation Phase Criteria
- Claim Free Money + Create xSWEEPR position
- Vote in SAP 1 and 2
- Snapshot will be taken at the conclusion of SAP 2.
Prolonged Participation Phase Criteria
- Claim Free Money + Create xSWEEPR position
- Vote in SAP 1, 2, 3, and 4
- Snapshot will be taken at the conclusion of SAP 4.
Snapshots will be taken at the conclusion of SAP 2 and SAP 4 respectively and $SWEEPR will be airdropped directly to users’ wallets foregoing the need to claim or sign any transactions.
TLDR;
- The airdrop consists of three phases in which 5% of the total $SWEEPR supply (35,000,000) will be distributed : Free Money, Participation, and Prolonged Participation.
- 7,000,000 $SWEEPR is allocated to the Free Money phase in which holders of Milady Maker, Pudgy Penguins, Bong Bears + Rebases, Honey Comb, Remilio, Lil’ Pudgys, Schizoposters, and CryptoPunks are eligible to claim. The Free Money snapshot will be taken on July 1st, 2024.
- A multiplier will be applied to the Free Money allocation for all users who hold more than one and up to five of any eligible NFT collection.
- 10,000,000 $SWEEPR is allocated to Participation phase participants and 18,000,000 $SWEEPR to Prolonged Participation phase participants.
- Participation airdrop phase rewards voters in SAP 1 and 2. Snapshot will be taken at the conclusion of SAP 2.
- Prolonged Participation airdrop phase rewards voters in SAP 1, 2, 3, and 4. Snapshot will be taken at the conclusion of SAP 4.
Be sure to DYOR in our docs and don’t forget to join our community on X and Discord! See you on the floor!
