How to redeem COW Carrot tokens
A guide on claiming earned rewards from the COW launch on Carrot
TL;DR. “gCOWETHTVL-0414” tokens are earned from the COW launch farms and are redeemable for COW depending on the outcome of the conditions. Redemption can be found on the campaign page shortly after the end date of the campaign. Read on for more information!
So, you’ve earned some “gCOWETHTVL-0414” tokens from the recent COW launch on Swapr. What now? Before jumping into that, it’s important to understand what the Carrot, DXdao’s newest product, is and how it benefits farmers.
Carrot enables campaign creators to issue rewards based on programmable and verifiable on-chain actions. By connecting incentives to specific criteria, projects can run smarter, larger, and more efficient reward campaigns. How does this work in practice? Look no further than the new COW campaigns and “gCOWETHTVL-0414” tokens.
Swapr GC COWETH TVL 04–14 -The CoW Protocol Carrot campaign tracks the average TVL of the COW/ETH pair from March 29th at 1500 UTC to April 14th at 1500 UTC. As a part of the campaign, 29,100 “gCOWETHTVL-0414” Carrot tokens are being distributed through a farm on Swapr which will be redeemable for 1 COW each if the below conditions are met. The Carrot.eth front-end will provide a daily snapshot of the TVL in the pool while it is active, which can later be used to verify the final solution. The campaign’s lower bound is $500k TVL, while the upper bound is $3m TVL. This means that no COW rewards will be redeemable if the COW/ETH pool TVL is below $500k, while the maximum rewards will be redeemable at or above $3m TVL.
You have your Carrots, now what?
Once you have claimed your carrot tokens through Swapr, you simply hold onto them until the campaign ends and the specified oracle determines whether or not the milestone was reached. You don’t need to do anything in the meantime, and there is no time limit for redemption — Carrot conditional tokens give you a perpetual, irrevocable on-chain claim to the underlying assets if the conditions are met. Carrot tokens are fully tradable and transferable in the meantime, however, it is important to realize: liquidity may be low or nonexistent.
There is a delay between when the campaign ends and when the tokens are redeemable because of the decentralized process used to resolve Carrot tokens using Reality.Eth. Because Reality.eth is a decentralized oracle, it usually takes 24–48 hours to settle. However, if there is any disagreement, the oracle period could extend further. You can learn more about Reality.Eth here.
Redeeming your Carrot tokens
When the redemption time has passed, visit the campaign on Carrot.Eth to redeem your “gCOWETHTVL-0414” tokens if the TVL falls within or exceeds the above conditions ($500k — $3m TVL). Navigate to the campaign in the Carrot dApp’s “Featured campaigns” section (or use the “go to campaign” function in your Swapr reward pool):
Connect your wallet where you have your carrot tokens stored. Then, select “Redeem Reward” to trade Carrot tokens for the underlying COW based on if/how much of the TVL condition was met. If the UI instead is asking you to “Bond”, then the campaign is yet to be finalized. Look forward to a guide on the bonding process as we get closer to the end date of the campaign.
About Carrot: Carrot grants permissionless access to create community-driven programmable incentives, distributing rewards when set criteria are met.
Through the power of KPI tokens, anyone effectively contributing to a goal can receive a reward directly proportional to their impact. Get real value in exchange for real value.