Phoenix Finance
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Phoenix Finance

FinNexus New Airdrop Campaign

Having successfully managed to lower our gas fees, the FinNexus team is launching a new airdrop campaign starting on February 02, 2021.

The first 500 qualified applicants will each receive the equivalent of 1068 FNX in FPT-B tokens, our protocol pool share tokens.

These will be locked in the FPO mining contract for three months, during which they will receive additional mining rewards. At the end of the three-month locking period, they may choose to unlock or to continue staking FNX.

Users will have 30 days to claim their rewards.

Please check if you are qualified to receive the airdrop and how you can claim it below.

Purpose

1. Increase FinNexus exposure and awareness
Though the FinNexus Protocol for Options (FPO) was launched almost three months ago on Ethereum, many DeFi users are not yet aware of it. With this airdrop, we aim to introduce FinNexus and our options model to a wide audience of investors already strongly involved in DeFi.

2. Target intensive DeFi users and partners
The airdrop recipients will be carefully selected among individuals highly involved in DeFi applications and governance. This will not be a blind airdrop campaign of the sort that may attract bounty hunters.

3. Boost the visibility of our new mining mechanism
The airdrops will be distributed in the form of locked FPT (the pool share token of FPO) and automatically participate in mining. Airdrop recipients are welcome to check out our mining mechanism and get the best out of it in terms of multipliers.

4. Easing the pressure on the current circulation of FNX
Because the airdropped FNX will be locked in the contracts, there will be little influence on the immediate token circulation.

Airdrop recipients are encouraged to lock their tokens for longer or add a contribution in USDC to get higher mining rewards.

Who is qualified

  • FPO USDC/USDT liquidity contributors with over 1000USD before UTC 12:00 Feb-05–2021
  • Over 0.5 WBTC or 10 ETH contributors in the Hegic liquidity pools
  • Participants in Curve Dao which has over 2000 CRV balances
  • YFII Holders who has more than 5 YFII
  • Other whitelisted addresses connected with past AMA activities

How to claim

The first 500 addresses will each get 1000 FNX tokens in the form of locked FPT in the FPO mining contracts.

The deadline for claiming the rewards is 30 days after the campaign starts.

Users can simply come to the FPO app > connect their wallets to check if they are qualified to claim > claim the rewards associated with that address.

Claimed FNX rewards will be automatically deposited in the FNX liquidity pool and staked in mining contracts for 3 months. Users can find their airdrop balances here: https://options.finnexus.io/.

Other details

  • The airdrops will be locked in the mining contract for 3 months and eligible for mining rewards. Participants will have various means to increase mining rewards as detailed here.
  • The airdrops will come from the community rewards reserves. Unclaimed FNX tokens will be redeposited back into the community rewards reserves.
  • More information on how the FinNexus Protocol for Options (FPO) works, please check the product paper and the relating documentation.

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