Your Step-By-Step Guide To The Genshiro Lockdrop
Beginning on May 27 at 12pm UTC, EQ token holders are eligible to participate in the Genshiro lockdrop on Kusama! Users who want to participate need to lock their vested/circulating EQ tokens in order to receive an allocation of GENS on Kusama. Users get 10 GENS for every 1 EQ they lock up, and they can earn up to 30% in bonuses for early participation.
The 30% bonus is only in effect at the beginning of the lockdrop, and the bonus will slowly decline to zero over the course of one month after the lockdrop opens. The following chart demonstrates the curve for the bonus:
If you want to collect the maximum bonus, stake your EQ as early as possible. You can read more information about our lockdrop mechanic right here.
Those users who have vesting on their EQ allocations are eligible to get GENS for unvested EQ tokens. The amount of unvested tokens that receive GENS is proportional to the fraction of vested/circulating EQ they lock.
How do I participate in the lockdrop?
Visit our website. Connect your Polkadot address.
Enter the amount of EQ that you want to lock, or just simply move the slider to the desired amount. NOTE: Please use Polkadot.js extension and make sure that you keep minimum1 EQ on your balance while participating in the lockdrop.
Check and see how many GENS you will receive as your bonus. If you click the question mark, you will see your total EQ balance and a transaction fee in EQ tokens.
Click “Deposit” and then sign the transaction via the Polkadot.js extension. That’s it, all done! Check out your actions in the “history” section.
How do I deal with unvested EQ tokens?
Having said, if you have unvested EQ you can get GENS allocation for them as well. To get the maximum GENS allocation you need to lock the maximum of your vested EQ in the lockdrop.
First of all, check your allocations. In case you didn’t claim your EQ tokens, you can do so here (be sure that you use Mainnet). Connect your ETH address to Equilibrium using an extension like MetaMask.
Sign the transaction to claim your EQ via MetaMask.
Click “Claim.” You can check how many tokens you’ve claimed by navigating to “EQ vesting” -> “Claimed.”
Then back to the lockdrop page and enter the amount of EQ that you want to lock, or just move the slider to the desired amount. You will see all the relevant statistics as you adjust your input.
Click “Deposit.”
Users will be able to lock their EQ within a period of 30 days. Visit https://app.equilibrium.io/gateway/en/lockdrop to participate in the lockdrop!
