InsureDAO Airdrop Distribution
A how-to guide on claiming airdrop and staking INSURE tokens.
Today, we are happy to announce airdrop claims are now live on our mainnet.
For some users waiting since our testnet, We really want to say thank you for being really patient.
To bootstrap InsureDAO governance, testnet participants（4.2M INSURE）, Special farming rewards（136,500 INSURE）, and DeGenesis rewards（278,913 INSURE）were allocated to our community.
️Starting today, you can claim the airdrop from here.
Airdrop Overview
Testnet rewards:
A total of 4.2M INSURE was allocated to our testnet participants. We want to reward the early users. They can choose vlINSURE or INSURE as testnet rewards.
vlINSURE is the equivalent of convex’s cvxCRV token, which is a token you get for permanently locking your INSURE token. Put another way, this is a tokenized veINSURE. There will be a secondary market of vlINSURE<>INSURE in the future, so users could exit by this(rate should be less than 1:1). Also, about 30% of the community rewards are allocated to the vlINSURE pool now. Its reward is over 1,100 % APR as of now.
“No Tax” to claim vlINSURE, while there is “Tax” to claim INSURE.
Tax rates start from 50% and decrease to 0% in 3 months. The accumulated tax goes to the community treasury which will be utilised by DAO governance in the future.
We aim to reward long-term contributed users more by allowing users to deposit their allocation into vlINSURE without tax.
Each address is eligible for 186.45 ~ 2,258.06 INSURE.
It depends on the bingo line you completed.
💡How to claim Testnet rewards
Please select either the “vlNSURE” or ”INSURE” to claim in the right frame from the Claim tab in the header.
*vlInsure holders need to stake their tokens to earn INSURE. The guide for staking follows below in this article.
Qualified Participants Rewards:
A total of 278,913 INSURE were allocated to qualified InsureDAO DeGenesis participants.
They have experience using our partners or similar governance model protocols. Also, testnet participants and users who passed InsureDAO Quiz are qualified as well. We believe that they are familiar with InsureDAO, and will be able to contribute more to the development of InsureDAO.
Each address is eligible for 10% of the amount in INSURE each address purchased.
Special Farming Rewards:
A total of 136,500 INSURE was distributed to special farming event participants.
To bootstrap our liquidity in InsureDAO Reserve Pool at the launch moment, we prepared special farming. DeGenesis participants who deposited their unswapped USDC into the Reserve pool are eligible for this reward.
114 addresses are eligible. The average airdrop amount is 1,197 INSURE.
💡How to claim Qualified Participants and Special Farming Rewards
Please claim from the DeGenesis Events Bonus in the middle frame.
You can go there from the Claim tab in the header.
Qualified users
What you can do with INSURE
Our APRs are still high now. We recommend you earn additional INSURE and get voting powers.
Stake vlINSURE:
If you have claimed and locked INSURE, and got vlINSURE, you can stake your vlINSURE from the UI “$vlINSURE Staking”
Convert INSURE and Get vlINSURE:
By converting INSURE to vlINSURE and staking vlINSURE, you can get INSURE rewards.
vlINSURE is a token you get for permanently locking your INSURE token, and accumulated voting powers and boosting powers are planned to be utilised in the future, with the ideas such as the Bribe market, and the Optimized Boosted Pool.
Lock INSURE and Get veINSURE:
By locking INSURE on our locking contract as below, you can get voting power(veINSURE) and boost the rewards such as vlINSURE staking and LP mining on Univ2.
You can go to the “Lock INSURE” page from the “Lock” in “INSURE” tab at the header.
Liquidity providing on Univ2 and stake LP token:
By staking LP token of ETH/INSURE pair in Uniswap v2, you can earn INSURE.
Conclusion
We spent a lot of time thinking about the way of distributing testnet rewards since the allocation isn’t small. Basically, we decided on the method with our community. Actually, the tax idea is from a community member.
We hope to see the distributed INSURE holders in this airdrop actively involved in the making decisions of protocols.
We will continue developing InsureDAO to stabilize the entire crypto ecosystem. Here is our roadmap. Let’s have the compass of this voyage⛵ 🧭
About InsureDAO
InsureDAO is a decentralized insurance protocol, allowing anyone to create an insurance pool easily to “Cover every single risk in DeFi space”. InsureDAO provides an insurance builder kit and insurance market. Additionally, we will offer the lending function to INSURE token stakers.
If you are interested in learning more, check out our LP.
Also, you can join us on Twitter, Discord, or Telegram! :)
Twitter: https://twitter.com/insuredao
Discord: discord.gg/8BA5f5rurq
Telegram: https://t.me/InsureDAO
