Airdrop — On-chain quests
Convergers,
This article will cover everything that you need to know about the upcoming on-chain quests, which will conclude the first Convergence’s airdrop.
Info
On-chain quests are designed to incentivize users to interact with the Convergence protocol and all its features. By completing quests, Convergers will earn points, that will grant them a CVG allocation, once the campaign is over.
The tasks are split between 4 kinds of actions: staking, locking, bonding, and voting.
Duration: 12 weeks (end of cvgCycle 12);
Allocation: 750,000 CVG.
The quests dApp won’t be directly available and should be live 1 month post-launch. However, points attribution will be retroactive, so users will start earning and accumulating them immediately after launch.
Quests breakdown
Voting campaign: Yellow Key
TOTAL POINTS: 500 pts
TASKS: 8Vote on 1 gauge for any cvgCycle — 10 pts
Vote on 2 gauges for any cvgCycle — 15 pts
Vote on 3 gauges for any cvgCycle — 20 pts
Deploy 500 veCVG on Convergence gauge weights — 20 pts
Deploy 1,000 veCVG on Convergence gauge weights — 30 pts
Deploy 2,500 veCVG on Convergence gauge weights — 40 pts
Deploy 5,000 veCVG on Convergence gauge weights — 50 pts
Deploy 10,000 veCVG on Convergence gauge weight — 70 pts
🗝Complete Yellow Key Campaign — 255 pts
Bond campaign: Red Key
TOTAL POINTS: 2,130 pts
TASKS: 13Buy any amount of CVG with bond using stablecoins — 20 pts
Buy any amount of CVG with bond using volatile assets — 20 pts
Bond & Lock at least 250 CVG — 30 pts
Buy 250 CVG with bonds — 10 pts
Buy 500 CVG with bonds — 20 pts
Buy 1000 CVG with bonds — 30 pts
Buy 2,500 CVG with bonds — 50 pts
Buy 5,000 CVG with bonds: 100 pts
Buy 7,500 CVG with bonds — 150 pts
Buy 10,000 CVG with bonds — 200 pts
Buy 15,000 CVG with bonds — 300 pts
Buy 20,000 CVG with bonds — 400 pts
Buy 30,000 CVG with bonds — 500 pts
🗝Complete Red Key campaign — 300 pts
Locking campaign: Blue Key
TOTAL POINTS: 1000 pts
TASKS: 11Lock CVG for 100% ysCVG primitive — 20 pts
Lock CVG for 100% veCVG/mgCVG primitive — 20 pts
Lock at least 50 CVG for 36 cvgCycle min — 10 pts
Lock 250 CVG for 36 cvgCycle min for any lock primitives — 10 pts
Lock 500 CVG for 36 cvgCycle min for any lock primitives — 20 pts
Lock 1,000 CVG for 36 cvgCycle min for any lock primitives — 30 pts
Lock 2,500 CVG for 36 cvgCycle min for any lock primitives — 40 pts
Lock 5,000 CVG for 36 cvgCycle min for any lock primitives — 50 pts
Lock 10,000 CVG for 36 cvgCycle min for any lock primitives — 100 pts
Lock 20,000 CVG for 36 cvgCycle min for any lock primitives — 200 pts
Lock 30,000 CVG for 36 cvgCycle min for any lock primitives — 300 pts
🗝Complete Blue Key campaign — 200 pts
NOTE: extending a lock will not be considered.
Staking campaign: Green key
TOTAL POINTS: 1870 pts
TASKS: 116Stake any amount of cvgSDT on Convergence for 1 cvgCycle — 10 pts
Stake any amount of sdTKNs or LPs token on Convergence for 1 cvgCycle — 10 pts
Convert 1,000 SDT to cvgSDT — 10 pts
Convert 2,500 SDT to cvgSDT — 20 pts
Convert 5,000 SDT to cvgSDT — 30 pts
Convert 10,000 SDT to cvgSDT — 40 pts
Convert 25,000 SDT to cvgSDT — 50 pts
Convert 50,000 SDT to cvgSDT — 150 pts
Stake $250 worth of cvgSDT, sdTKNs, or LP for 6 cvgCycle min — 5 pts
Stake $1,000 worth of cvgSDT, sdTKNs, or LP for 6 cvgCycle min — 10 pts
Stake $5,000 worth of cvgSDT, sdTKNs, or LP for 6 cvgCycle min — 15 pts
Stake $10,000 worth of cvgSDT, sdTKNs, or LP for 6 cvgCycle min — 20 pts
🗝Complete Green Key campaign — 200 pts
Rules & leaderboard
Points are cumulative for all campaigns.
For example, converting 10,000 SDT to cvgSDT will earn you a total of 100 points (10 + 20 + 30 + 40).
About the staking tasks involving a value denominated in USD, and a duration in cvgCycles:
- Points will be computed at the end of the airdrop campaign (end of cvgCycle 12);
- The USD value staked that will be considered will be the one at the end of the airdrop campaign.
For example, if you staked $8,500 worth of sdCRV during the cvgCycle 3, which are worth $11,000 at the end of the cvgCycle 12, $11,000 is the value that will be considered to compute your points.
The maximum amount of points that one can earn is 5,500. A leaderboard will be used to distribute CVG allocations with the following rules:
- If the top 80 has more than 66% of the maximum points amount, a top 250 leaderboard will be used;
- If the top 80 has less than 66% of the maximum points amount, a top 500 leaderboard will be used.
Top 250 leaderboard distribution:
👑Top 1–3 = 8% = 60,000 CVG = 20,000 CVG per user
Top 4–10 = 8 % = 60,000 CVG = 8,571 CVG per user
Top 11–25 = 15 % = 112,500 CVG = 7,500 CVG per user
Top 26–60 = 19 % = 142,500 CVG = 4,071 CVG per user
Top 61–120 = 20% = 150,000 CVG = 2,500 CVG per user
Top 121–250 = 30% = 225,000 CVG = 1,730 CVG per user
Top 500 leaderboard distribution:
👑Top 1–3 = 6 % = 45,000 CVG = 15,000 CVG per user
Top 4–10 = 7 % = 52,500 CVG = 7,500 CVG per user
Top 11–25 = 8 % = 60,000 CVG = 4,000 CVG per user
Top 26–60 = 12 % = 90,000 CVG = 2,571 CVG per user
Top 61–120 = 13% = 97,500 CVG = 1,625 CVG per user
Top 121–220 = 17% = 127,500 CVG = 1,275 CVG per user
Top 221 -350 = 18% = 135,000 CVG = 1,038 CVG per user
Top 351–500 = 19% = 142,500 CVG = 950 CVG per user
Vesting & penalty
Duration: 60 days
Cliff: 20% of the allocation
Penalty: applied on claims before the end of the vesting duration
20% of the airdrop allocation will be claimable on day 1, and the remaining 80% will be available linearly over 60 days. However, claiming tokens before the end of the vesting period will result in the remaining tokens being lost. These tokens will be sent back to the DAO treasury.
For example, if one is eligible for 7,500 CVG:
- Claim day 1 = 1,500 CVG;
- Claim day 10 = 2,500 CVG;
- Claim day 30 = 4,500 CVG;
- Claim day 45 = 6,000 CVG;
- Claim day 60 = 7,500 CVG.
And now, you know everything, anon. Thanks for reading, and don’t hesitate to reach out to us on Discord if you have any questions.
To the Void!
Website: https://cvg.finance/
Twitter: https://twitter.com/Convergence_fi
Discord: https://discord.gg/convergencefinance
