MASQ Aludel Transmutation Complete!
As hinted in a previous Medium, the MASQ team has been brewing up some exciting reward programs with the fine Alchemists in the lab.
MASQ Network’s primary focus is around privacy and security, so upon researching options for reward programs that truly embrace these aspects Alchemist was an obvious choice. We take the security of our users seriously, the Aludel rewards operate in a non-custodial way where the owner keeps true ownership of their tokens, and can interact with many contracts without having to obligate their assets to a single reward program!
READERS — we urge you to review all information carefully, so you can take full advantage of the programs— don’t get burned by some hasty transmuting without checking the recipes!
MASQ Aludel programs “NEO” & “GEMINI” will be visible live on the Aludel website at 20:00 13AUG UTC, which means you can subscribe early to the Aludels before rewards start releasing!
Rewards go live: 20:00 14AUG UTC
We will push out a reminder announcement when its open for subscriptions!
What is a MASQ Aludel?
The Alchemist team have released an excellent explainer article on what an Aludel and Crucible are here, which outlines how they work, but it’s actually quite simple:
ALUDEL = rewards program
CRUCIBLE = NFT universal wallet token (ERC721)
- There will be 2 Aludels for MASQ which are reward programs, for subscribing your tokens
- The Crucible is a unique NFT universal wallet, that allows the holder to interact with the Aludel reward programs AND keep total ownership of their tokens and rewards in their wallet (i.e. its non-custodial)
In summary, the community members must mint and use a Crucible to earn MASQ staking rewards!
For a full tutorial on minting a Crucible, check out the official documentation
The minting, subscribing and interacting with Aludels all takes place on https://crucible.alchemist.wtf/
What’s great, is this process allows you to also use all the other benefits of the Crucible, as well as take part in other Aludels from various projects!
MASQ Aludel Rewards
There will be not one, but TWO Aludels deployed for MASQ!:
- ‘NEO’ — MASQ v1single-sided rewards program — 250,000 MASQ reward pool
- ‘GEMINI’ — SUSHI-MASQWETH v1Sushiswap Liquidity Provider (MASQ-WETH SLP) rewards program — 350,000 MASQ reward pool
IMPORTANT: There will be significantly more rewards allocated to the ‘GEMINI’ SUSHI-MASQWETH Aludel program, since those members are more susceptible to market fluctuates and the Impermanent Loss risk of providing LP
By design, there will be a few unique properties to the MASQ Aludel reward programs:
- Rewards are released over 60 days in the program, based on a steady state time-release, so early larger holders cannot drain rewards on day 1 before other members subscribe to the Aludels
- There is a built-in rewards multiplier from 1x-10x across 40 days, which means that users can claim full eligible rewards after at least 40 consecutive days remaining subscribed to the program — if you claim and unsubscribe before then, then you won’t receive all your eligible rewards accrued in that period. Also if you ‘unsubscribe & claim’ rewards the multiplier to reset back to 1x.
Remember, subscribing to the MASQ Aludel program for the long-term rewards you the most!
Subscribing to MASQ Aludels
Once you have minted your Crucible (this will require some MIST-WETH LP to do this — please follow Alchemist official guide) you can then decide which MASQ Aludels you want to subscribe to.
To participate in a MASQ Aludel, you must have the required tokens in your wallet that holds your Crucible:
- NEO — requires subscribing MASQ ERC20 tokens
You can acquire MASQ from Sushiswap here
- GEMINI — requires Sushiswap MASQ-WETH SLP tokens
You can acquire MASQ-WETH SLP by providing liquidity to the MASQ-WETH pool on Sushiswap here * Equal parts MASQ + ETH is required*
For NEO Aludel — Transfer MASQ Tokens to within your Crucible**
**The SLP tokens for Sushiswap MASQWETH LP can be subscribed directly from your wallet — no need to transfer those into the Crucible.
For subscribing MASQ ERC20 tokens, you will need to transfer them into the Crucible to then subscribe to the NEO Aludel:
Click the Deposit to Crucible button and deposit MASQ from your wallet to participate in the NEO Aludel.
Subscribe Tokens to the Aludels
When open for subscriptions, the MASQ Aludels will appear on the Crucible UI under ‘Reward programs’ on the top Navigation Menu (pictures will be updated if required after deployment)
Click the MASQ Aludel you want to subscribe to and see what tokens are available to be deposited — MASQ or MASQ-WETH SLP
On each Aludel window, you can subscribe amounts of tokens from your available balance (either the Crucible or the Wallet) *but you must have a minted Crucible to join either Aludel*— enter the amount of tokens you want to subscribe and click Join
There are Summary and Rewards screens that can be selected to roll out more information:
These will show you the value of your subscribed tokens, your accrued eligible rewards, multiplier progress and more.
MASQ x Alchemist Artwork Promo
There is a huge pool of talent between the staunch MASQ Warriors and the clever Alchemists — too much talent to ignore in fact!
Therefore, leading up to the MASQ Aludels going live for active subscriptions, there will be an artwork promotion for followers of both communities to submit their most creative and collaborative designs, showcasing MASQ and it’s branding as the primary ingredient. Submissions will be open to post in a dedicated Discord channel in the MASQ Discord.
5 worthy users will be rewarded with Crucibles loaded with tokens already subscribed to the MASQ Aludels, for the user to immediately seek the benefits of the MASQ transmutations.
Complete details for the promo will be linked in this promo announcement
MASQ Network is building a censorship-resistance mesh network, allowing all global netizens access to internet content, regardless of where they live. In addition, MASQ software will offer superior privacy features and combines all the benefits of VPN and Tor technology without many of the disadvantages of those tools.
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