Claiming Gas Subsidies for March and extending program to cover April too!
Many of you will remember our recent commitment to help our community handle the currently high gas prices by subsidising gas trading fees incurred by Vault Managers for the month of March. Today, the Claim period for March begins and it will be live until April 12th, 2021, 00:00 UTC. Instructions below.
Following the success of March, the Enzyme Council have also voted on extending the programme and contributing 500 MLN in gas subsidies for the month of April (same rules apply).
Claiming for March
1- What are the eligibility criteria?
- Swaps that happen on ParaSwap from within the Enzyme App.
- Swaps that happened between Wed March 1st, 2021, 00:00 UTC and March 31st, 2021, 23:59 UTC.
- Swaps amount equal to or higher than 250$ (Max(sold Token, bought token))
- Up to 50% of the gas spent will be considered.
2- Will I get 1000 MLN for each swap I make on ParaSwap?
No. The 1000 MLN will be distributed between all participants that comply with the participation rules. They’ll need to swap amounts equal to or higher than $250 for each eligible transaction. The percentage of the spent gas that you’ll get back on your Wallet can go up to a maximum of 50% of the spent gas. However, no percentage is guaranteed.
i.e. for a transaction of 5 ETH for which you’ve paid 0.02 ETH in gas fee the maximum amount you can get is the equivalent of 0.01 ETH in MLN. However, if there are a lot of participants you might get less than 30% or 40% or any other percentage below 50%… We don’t guarantee any minimum percentage of how much of your gas fee you’ll get back.
3- How can I claim my MLN?
Paraswap has provided a simple UI for you to claim March rewards. You’ll have to connect to the Paraswap App with your Vault Manager wallet and hit Claim MLN. If you are eligible for a reward, you’ll be prompted to sign a message with your wallet. The MLN will be sent to you after the claim period ends. If you have any problems with this, pls contact us via Telegram or Discord.
4- How long have I got to claim?
You have 7 days from today (until Monday 12th April, 2021, 23:59 UTC) to claim by signing the transaction with your Vault Manager wallet. If you have not claimed by this time, you will have missed out on the gas subsidy for the month of March.
5- Are failed transactions eligible for the subsidy?
No. Only the transactions that succeed are eligible for this program.
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