Launching NFT Lockdrop With 26,000,000 $VCI Reward

4 min readJun 13, 2022

TL;DR

ALL NFT Holders who lock the Blue Chip NFTs on Vinci Protocol will be rewarded.
Total Airdrop: 2.6% of VCI’s total supply — 26,000,000 $VCI.
2.5% Lockdrop Reward + 0.1% Early Bird Reward.
This lockdrop starts from June 13th, 10 AM UTC to July 15th, 10 AM UTC.
Enter Vinci Protocol’s official website and click Launch App to find more.

We are thrilled to introduce the Vinci Protocol NFT Lockdrop, an important part of the $VCI fair launch, a series of launch events to bring Vinci Protocol, an NFT-backed DeFi protocol, to more NFT holders and enthusiasts.

Background

Vinci Protocol is a completely community-driven project designed to boost liquidity with a lending platform and simultaneously hedge against volatility with NFT-backed derivative products.

It relies on a fair launch method to set everything in motion.

To do so, we invite you to join the Vinci Protocol NFT Lockdrop to help us bootstrap Vinci Protocol and achieve our WHY — to give liquidity and risk control to all NFT owners.

The lock-drop model is very unique in that you do not have to pay anything to receive the Vinci Protocol tokens, yet you pay an opportunity cost by locking up collateral, your NFTs in this case.

$VCI is available to virtually anyone who holds and can lock NFT on Vinci Protocol. It helps us 🔻

Decentralize the $VCI airdrop distribution.
Attract the active network participants.

How does it work?

The Vinci Protocol NFT lock drop will reward/airdrop to ALL NFT Holders who lock the Blue Chip NFTs on Vinci Protocol.

Total Airdrop: 2.6% of VCI’s total supply (26,000,000 $VCI)

2.5% Lockdrop Reward (25,000,000 $VCI)
0.1% Early Bird Reward (1,000,000 $VCI)

Deposit Period: 30 days

Early Bird Bonus: First 20% Lockdrop Participant will have a 20% boost bonus in VCI tokens

Claim Date: To be announced at the end of deposit period

Vesting Period: 60, 120, 180, 240 and 360 days. When the lock expires, you can withdraw your underlying asset back.

Total Airdrop

When 0–5000 ETH, total Airdrop = 2.5% * Sqrt(Total Lock Value / 5000 ETH) + Early Bird Bonus
When >=5000 ETH, total Airdrop = 2.5% + Early Bird Bonus

Bluechip NFTs are as follows:

CryptoPunk 😲
Bored Ape 🐒
Mutant Ape 🐵
Azuki 🗡️
Moonbirds 🐦
CloneX 🤘
Doodles 🌈
Meebits 🔳
Otherside 🙈
Decentraland 🌆
Sandbox 🚧

How do I deposit?

Enter Vinci Protocol’s official website
Click Launch App and connect your wallet (ETH Network)
Click “NFT Lockdrop”
Go to click on “Lock NFT” to choose the NFT you want to lock.
Then submit your transaction. Once the transaction is confirmed, your lock is successfully registered.
You will get a Wrapped NFT as the NFT lockdrop voucher.
The Lockdrop NFTs will automatically have the liquidity mining incentives from the lending pools.
After the lockdrop period ends, you can choose whether to keep NFT deposited as collateral in lending pools to have liquidity mining incentives.
Or withdraw them with no more reward from the Vinci Protocol.

Airdrop Reward Metric & Formula

Your Lockdrop Ratio of Total Lockdrop Reward 🔻

Lockdrop Period of Your NFT * TWAP Floor Price of Your NFT during Deposit Period / SUM (Lockdrop Period of User’s NFT * TWAP Floor Price of User’s NFT during Deposit Period)

For example 🔻

Bobby

NFT Asset: 1 CryptoPunks
Lock Period: 360 Days
TWAP Floor Price: 60 ETH

Alice

NFT Asset: 2 Doodles
Lock Period: 120 Days
TWAP Floor Price: 15*2 ETH

Kate

NFT Asset: 1 Bored Ape Yacht Club
Lock Period: 60 Days
TWAP Floor Price: 150 ETH

Bobby’s Lockdrop Ratio = 60*360 / (60*360+30*120+150*60) =63.15%

Alice’s Lockdrop Ratio = 30*120 / (60*360+30*120+150*60) = 10.52%

Kate’s Lockdrop Ratio = 150*60 / (60*360+30*120+150*60) = 26.31%

Bobby’s Lockdrop Reward = Bobby’s Lockdrop Ratio * Total Lockdrop Reward

Alice’s Lockdrop Reward = Bobby’s Lockdrop Ratio * Total Lockdrop Reward

Kate’s Lockdrop Reward = Bobby’s Lockdrop Ratio * Total Lockdrop Reward

How to claim my airdrop?

Complete NFT(s) lockdrop.
Wait patiently for lockdrop rewards claiming to begin.
Go to the Vinci Protocol official website.
Connect your wallet used for NFT(s) lockdrop.
Simply click the Claim button to claim yours.

About Vinci protocol

Vinci Protocol is an NFT-backed DeFi protocol designed to boost Liquidity with a lending platform and simultaneously hedge Volatility with NFT-backed derivative products. Vinci will deliver the generalized solutions for NFT lending and perpetual trading through the following architecture:

Compatible with Different Smart Contracts: These are generalized solutions that will allow access to different smart contract platforms, including EVM contracts for EVM-compatible chains like Ethereum and BSC, WASM contracts, and Substrate contracts, for the Polkadot Ecosystem.

NFT-backed Lending and Renting Platform: serves as the permissionless money market with NFT assets as the collateral. NFT holders can list their borrowing needs on the Vinci platform, which will enable money lenders to respond to their requirements and liberate Liquidity.

Decentralized NFT-backed Perpetual DEX: serves as the fully non-custodial and decentralized perpetual market for NFT assets. NFT holders can deposit NFT assets, including collectibles and GameFi items, as collateral to open perpetual contracts to hedge the Volatility of the NFT floor price.

Extreme Efficiency and Trader-friendly VinciVM: serves as the technical base layer of Vinci Protocol. It consists of an off-chain Market Maker Engine and an on-chain Settlement Engine. VinciVM is the core component and can be easily deployed on multiple NFT ecosystems to deliver an extremely efficient and low-cost trading UI/UX