Second Course, the Longer Term Jelly Airdrop

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Jelly

5 min readJul 6, 2022

Our favourite rapper: https://www.youtube.com/watch?v=FSfRRBNPfFs

This longer term Airdrop allows us to transition to the Second Course. We are rewarding the people who continue to create liquidity and help create price stability for the $JELLY token… basically the people that are as gangster as Louis Theroux.

The Second Course Airdrop is a 1 year Airdrip and the claim will open in December 2022.

Money Don’t Jiggle Jiggle… it folds

As we transition to the Second Course Airdrop, we are adding a very special Whitelist. In awe of our fave rapper, the MDJJ Whitelist includes the Top 5 $JELLY buyers each month and the SLP holders who are reinvesting back into the farm. Whether through farming or buying the token, people are added to the MDJJ WL each month from now until December.

Snapshots will be taken once a month on the first Monday of each month from July to December 2022.

Rewards for Farmers

For Jelly farmers to be eligible for the MDJJ, we are providing these extra rewards for people who are also taking positive actions for our token price.

We have the following categories for how we assess a Farmer’s MDJJ Multiplier Score:

The Accumulator. The most revered farmer of them all, these people use their USDC or WETH and match it with JELLY they’ve earnt to increase their staked LPs. They get the highest multiplier of all, 5.
The Hodler. These people farm, but Hodl instead of selling their rewards. They get a Multiplier of 3.
The Compounder. These people sell JELLY rewards for USDC or WETH, match it with JELLY and reinvest that into the farm. While the increase in liquidity is great, the selling affects the JELLY price negatively so they get a Multiplier of 1.
The Dumper. These people earn rewards from the farm, but constantly sell their JELLY rewards. The selling affects the JELLY price negatively so no extra rewards are given on top of the farming rewards they already got.

Calculations

When we took the first snapshot for this WL on 4th July, about half of the Farmers in the Sushi pools (0.605 SLP for example) were eligible for the Pool of 1M JELLY rewards we allocated for the month.

For example, if you staked $1000 (0.0051 SLP) throughout June, you would have earned:

14,553 JELLY if you were an Accumulator (5x) i.e. added your own USDC to the farm
8,781 JELLY if you were a Hodler (3x) i.e. didn’t sell any $JELLY
2,930 JELLY if you were a Compounder (1x) i.e. sold some $JELLY for USDC and added it all into the farm.
You would get no bonus for being a Farm Dumper, i.e. selling $JELLY without adding any LPs to the farm

Next month we will have another Pool of at least 1M JELLY for MDJJ farmer rewards and will increase the pool if the average user multiplier increases.

MDJJ farmer rewards are available for both the Sushi and Balancer Pools.

Rewards for the Top Buyers

The Top 5 buyers who hold onto their Jellies each month will get the following rewards too.

The Top Buyer for the month gets 100,000 JELLY
2nd gets 50,000 JELLY
3rd gets 25,000 JELLY
4th gets 10,000 JELLY
5th gets 5,000 JELLY

Remaining eligible

Each month, people eligible will be added to the MDJJ and Airdrop allocations will be increased as per the snapshots taken. But you will need to hold your LPs or JELLY position to stay eligible, otherwise you can be removed from the MDJJ WL too.

Farmers

If you’re an eligible farmer who’s been on the MDJJ but your staked LP balance (migrating across pools is ok though) drops below the previous months snapshot, you’ll get removed from the Airdrop WL.

Buyers

If you’re a top buyer but you sell more than 50% of your JELLY before December when the Airdrop Claim opens, you’ll get removed from the Airdrop WL.

Note that you will remain eligible if you stake your JELLY for veJELLY

First Course Airdrop

Going back to the start of the year, we launched the first JELLY Airdrop in line with the lead up to our token launch. It rewarded our early contributors and helped us with early growth of our community.

If you’re on this Airdrop and don’t claim your JELLY from it between 10th June and the Claim in Full date of 24-Sep-22, then you will get a % share of an extra 1M JELLY that we will be adding to the Airdrop pool then.

The First Course Airdrip claim remains live with the Royal Jelly Whitelist and the Royal Jelly WL will still give access to the Royal Jelly Pool 2X Rewards.

Looking to the Long Term

Now that we’re past the token launch, we’re looking to the longer term growth of Jelly. We are building the 3rd Recipe for ve Staking, expanding to our permissionless model and onboarding partners.

We wanted to find a good way to continue rewarding contribution to our protocol over the long term, while creating price stability in the shorter term. People usually dish out Airdrop Rewards without vesting and Airdrops aren’t usually set up very far in the future. But the Longer Term Second Course Airdrop allows us to reward more generously for the people who are backing our protocol over the next phase.

With the power of our MDJJ, we gonna get Theroux this together.