AshSwap will be launched on February 17th. In anticipation of the big day, we will organize a prize pool for our veASH holders. Make sure to join and take advantage of this unique chance.
Event Description
On January 21st, we launch a Staking Reward Pool in which veASH stakers will share a prize pool of 2,000,000 ASH. The Governance Stake contract (Voting Escrow) will be deployed sooner than the exchange contracts.
The minimum amount of veASH that needs to be staked to receive a reward is 200 veASH
From now to the launch on February 17th, there will be five reward periods:
- [Week 1] 15:00 UTC, Jan 21th (Sat) → 0:00 UTC Jan 26th (Thurs)
- [Week 2] 0:00 UTC Jan 26th (Thurs) → 0:00 UTC, Feb 02nd (Thurs)
- [Week 3] 0:00 UTC, Feb 02nd (Thurs) → 0:00 UTC, Feb 09th (Thurs)
- [Week 4] 0:00 UTC, Feb 09th (Thurs)→ 0:00 UTC, Feb 16th (Thurs)
- [Week 5] 0:00 UTC, Feb 16th (Thurs)→ 16:00 UTC, Feb 17th (Fri)
Each period’s reward is proportional to the period’s duration; the first and last periods will have the smallest rewards because they are the shortest. The award will be determined at 0 a.m. UTC every Thursday; ASH speculators will be entitled to the reward according to their quantity of veASH. Therefore, ensure that your stake exceeds 200 veASH before then to be eligible for your share during that period.
In simple words, the more stakes you have, and the sooner you stake, the more reward you will get.
Event Timeline
- The event starts at 03 PM UTC — January 21st, 2023
- The event ends at 04 PM UTC — February 17th, 2023
veASH
Make sure you read this section carefully before joining the pool.
To join this event means that you convert your ASH to veASH by committing your ASH tokens to a lock time ranging from 1 week to 4 years. But rest assured that you won’t be locking your ASH just for this reward pool.
veASH is the first class citizen in AshSwap Protocol. Holding veASH is very similar to holding a share in the protocol. Coming with it are the following benefits:
Fee Sharing:
50% of trading fees from all pools will be distributed to veASH holders in the form of stablecoins (actually, the LP tokens of the stablecoin pool).
Emission Voting:
The more veASH used to vote for a pool, the more ASH rewards that pool will get. So if you have veASH and happen to be an LP, you can vote for the pool you’re in to get more rewards.
Yield Boosting:
You can use veASH to boost your farm weight up to 250% and your yields accordingly. The needed veASH to boost will be shown in the app.
Bribing:
Apart from all the above benefits, our bribing feature allows anyone to bribe veASH holders to vote for their farms. For example, if the owner of a project with token AAA wants to deepen the liquidity in the pool AAA/USDT, he might give x amount of AAA as a reward for anyone who votes for the AAA/USDT farm.
How to Join
Step 1: Visit the event site at https://event.ashswap.io/reward-pool/
Step 2: Connect your wallet.
We have four different options for you to choose from:
- MultiversX DeFi Wallet Extension (for desktop)
- xPortal DeFi Wallet (currently Maiar app — for mobile)
- Ledger Wallet
- MultiversX Web Wallet
Step 3: Select the amount of ASH tokens to stake in Governance Staking after clicking the Stake button.
Input the Amount of ASH you want to stake
Choose Lock Period: you will have four options to choose from (1 year — 2 years — 3 years — 4 years) with the equivalent rate as below:
- 1 ASH locked for 4 years = 1 veASH
- 1 ASH locked for 3 years = 0.75 veASH
- 1 ASH locked for 2 years = 0.5 veASH
- 1 ASH locked for 1 year = 0.25 veASH
Check the Estimate Staking board on the right side to review the veASH amount you will have.
Step 4: Examine your User Stats to determine if you have met the minimum threshold and how many veASH you own. Please notice that the greater your veASH balance, the greater your prize.
Our TGE Unlock will occur on 15:30 UTC, January 22nd; after that your LKASH can be converted to ASH and staked to the event, you can Unlock LKASH to ASH directly on the event site at the following link: https://event.ashswap.io/reward-pool/
FAQs
This event’s contract is on Devnet or Mainnet?
It runs on Mainnet
How can I know how much reward I can receive?
You can check it at the “Your rewards” section at “User Stats”
What happens if my veASH staked is lower than 200?
The event reward will not be distributed to your account after the event ends. And your staked veASH is still in the Governance Pool.
What if I want to stake with a custom lock period?
You can adjust it directly in the Lock period bar.
Can I stake my LKASH?
The answer is no; you will need to convert LKASH to ASH before joining the event. Our TGE Unlock will occur on 15:30 UTC, January 22nd; you can Unlock LKASH to ASH directly on the event site at the following link: https://event.ashswap.io/reward-pool/
How to buy ASH?
The fastest way is buying on https://xexchange.com/
