Cortex DAO Token (CXD) Airdrop!
A major milestone of the 2022 roadmap is DAOification through the launch of the new Cortex DAO which will govern the upcoming Convex Index.
The Cortex DAO will be governed through the CXD token which will be airdropped to APY token holders, liquidity providers, and boost-lockers.
Joining the Cortex DAO will present prominent benefits to DAO members, including:
- Vote on DAO proposals to adjust emission rates, change the supply cap, deploy DAO treasury, and more.
- Boost CXD rewards from the Convex Index.
- Earn profit-share from platform revenue.
CXD Tokenomics
- 1 APY will allow a user to claim ~2.7 CXD.
- The max supply of CXD is 271,828,182.
Math nerds may recognize this number, as e x 10⁸, a reference to Euler’s number, the mathematical constant behind compounding interest.
New CXD/ETH Pool2
Users will be able to buy and sell CDX from a new Curve V2 pool, created using CXD/ETH pairs. This pool offers lower slippage for CDX buyers and sellers.
New Rewards for Liquidity Providers
Those providing liquidity into the new CXD/ETH Curve V2 pool will receive CXD rewards. Rewards are issued with a liquidity gauge, keeping the doors open to earn additional CRV and CVX rewards in the future.
CXD Token Airdrop Details
- The CXD airdrop will run for a limited time, announced at a later date.
- Those eligible to claim the CXD airdrop will be directed to a Convex DAO airdrop page which will walk through the entire process of claiming eligible CXD.
- There will not be a snapshot to determine your airdropped amount.
- Once a user claims CXD, their APY balance will be frozen until the airdrop concludes.
- Users will continue to be able to purchase additional APY tokens and claim airdropped CXD throughout the entirety of the airdrop’s availability.
Eligible CXD Airdrop Participants
APY Uniswap & Balancer Liquidity Providers
The airdrop page will walk liquidity providers through every step of unwinding their current positions, claiming the airdrop, and providing liquidity with CXD in the new Curve V2 pool.
APY Boost-Lockers
The airdrop page will walk boost-lockers through the process of claiming CXD, locked for the same duration as their currently existing APY boost-lock.
APY Token Holders
The airdrop page will walk all other APY holders through the process of claiming unlocked CXD.
CXD Airdrop for Unvested Rewards
Currently, the majority (~95%) of users have just 3,500 APY or less vesting. These vesting APY will become unlocked, claimable, and, once claimed, count toward CXD airdrop eligibility.
Users with more than 3,500 APY vesting will be transferred a monthly CXD airdrop for the duration of their vesting period. Users with unvested rewards will not be eligible to claim additional airdropped rewards for this APY once it becomes vested and claimable.
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