5 Missions of Osmosis. A comprehensive Go-through guide by Citadel.one
Everyone who was staking $ATOM via Citadel.one platform on February 18th will be able to claim OSMO airdrop.
In this article, we will introduce you to the OSMO token, explain its features and give more details on the OSMO airdrop for ATOM stakers.
What is Osmosis?
Osmosis is an advanced AMM protocol built using the Cosmos SDK that will allow developers to design, build, and deploy their own customized AMMs.
Other AMM platforms are built as a “one size fits all” product. However, Osmosis allows for deep customizability by AMM developers and allows for pool governance to ensure that the most efficient solution is attained for AMMs.
Osmosis is a cross-chain product built with IBC in mind. This allows it to connect the entirety of the Cosmos ecosystem (which has over 10 billion dollars worth of assets). Once Cosmos assets have been integrated, Osmosis will work on integrating non IBC chains like ERC-20 based tokens and Bitcoin like chains.
For more insight on how exactly Osmosis works, you can check out this article written by Osmosis labs.
The OSMO token
OSMO is the governance token of the Osmosis ecosystem that provides a decentralized coordination method for token holders to decide the strategic direction and all future changes to the Osmosis protocol.
Holding OSMO will allow for:
- Voting on protocol upgrades
- Allocating liquidity mining rewards for liquidity pools
- Setting the base network swap fee
These features are however subject to change by governance vote.
Who can claim the airdrop?
The OSMO airdrop is open to anyone who was staking $ATOM on Citadel.One on February 18.
The allocation for the airdrop is given as:
Users that are eligible will need to participate in several on-chain activities such as governance, staking, and more on the Osmosis network to earn the airdrop allocation. Read more on this process in the claiming procedure section below.
Claiming Procedure
For users that are eligible to claim the airdrop (users that staked $ATOM on Citadel.One before February 18), these are the steps to follow:
Note: before claiming the airdrop you need to have Keplr wallet installed and private key/seed phrase of the Cosmos address imported into it.
Step 1: Log on to this website and connect your address.
Step 2: Head to the “Airdrop” section in the sidebar.
On this screen, you will see your total airdrop amount, as well as the amount that is unclaimed. There is also a countdown for the expiry of the airdrop tokens.
There are certain tasks that must be completed to claim parts of the airdrop tokens. These are detailed under the “missions” tab.
This leads us to the next step.
Step 3: Complete the given missions
The first mission is given as “hold ATOM on February 18”. If you staked ATOM on Citadel.One at that time, you are automatically eligible.
Mission #2: Add liquidity to a pool
To complete this, simply follow these steps:
Go to the sidebar and tap on “Assets”. Then scroll down to “Cosmos Hub — ATOM” and click “deposit”.
Next, deposit your ATOM tokens to your Osmosis wallet.
Fill in the deposit amount and click on “deposit”.
Note that IBC deposits may take up to 10 minutes to process.
After a while, your tokens should show up in your Osmosis wallet.
Now head over to the “Pools” tab in the sidebar. Under the “Incentivized pools” section, find the ATOM/OSMO pool and click on it.
Now add liquidity to the pool. You will need to add 50% of the total amount you want to add in ATOM and 50% in OSMO to the pool. The interface will automatically balance the amounts for you.
Click on “Add liquidity” once you’re done.
You have now completed another mission!
Mission #3: Make a swap on Osmosis AMM
To complete this mission, head to the “Trade” tab in the sidebar.
To complete this task, you can make any trade on the Osmosis AMM. In this example, we made a trade from ATOM to OSMO.
Simply enter the token you want to swap in the “from” section, and the token you want to swap to in the “to” section. Now enter the amount you want to swap and click on “swap”.
And this way, you have completed another mission!
Mission #4: Stake OSMO
To complete this mission, click on “Stake” in the sidebar.
This will take you to the Keplr validators page. From this page, select the Citadel.One validator.
In the page that pops up, input the amount of OSMO you want to delegate with the Citadel.One validator, and click on “Delegate”.
And this way, you have completed another mission!
Now onto the last mission.
Mission #4: Vote on a governance proposal
To get this mission completed, head over to the sidebar and click on “Vote”.
This will take you to the Keplr governance screen.
In the sidebar of the Keplr governance screen, click on Osmosis. Within the menu that drops down, click on “Governance”. A list of proposals will pop up on the right.
You can view more details on the proposal by clicking on the “details” button.
To vote on the proposal, click on the “Vote” button. This will bring up a list of options pertaining to the proposal.
You can choose any of the options you wish and click on “Confirm”. This way, your vote has been recorded.
Once you have completed all these tasks, you’re done!
The progress bar to the right of each task should read “completed” once the task is done.
That’s it, all $OSMO tokens have been successfully claimed!
About Citadel.one
Citadel.one is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets. Users can create public addresses for all supported networks with one seed phrase, connect their Ledger or Trezor device, or import an address generated by another wallet.
The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel.one, we standardize the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.
One of the main functions of the Citadel.o
ne platform is participation in the PoS consensus — users can stake and delegate their assets, claim rewards, and follow the latest network proposals in the voting tab.
Citadel.one offers its users instant cryptocurrency exchange services that allow fast and secure crypto assets swap. It is also possible to buy and sell crypto with a credit or debit card. Citadel.one users can track rewards, withdrawals, transfers, and deposits across all supported networks and add comments to these transactions.
Among PoS platforms, Citadel.one supports BAND network($BAND) Secret Network ($SCRT), Cosmos ($ATOM), ICON ($ICX), IOST, Orbs, and Tezos ($XTZ). We also support Ethereum, Bitcoin, and Tether ($USDT) for our users’ convenience. Mobile and desktop versions, new networks, including Polkadot and Ontology, are scheduled for the upcoming updates. Furthermore, delving into the idea of true decentralization, we envision Citadel.one a decentralized autonomous organization and a genuinely community-owned platform in the near future.
Learn More About Citadel.one
📍Website📍Telegram📍Twitter📍Facebook
