Pods NFT rewards

Season 1 starts today

To celebrate Pods Official Release, we have come together with Project Galaxy to reward our community members and users with NFTs. We are experimenting with a new way of distributing rewards to the community, and we'll learn as we go. So keep in mind that things can change if needed.

The main goal is to reward the most avid users and early community members.

The NFT role in Pods Protocol

The initial NFT represents an incubator that will hatch into a mascot for the Pods community. In the future, we expect to see the holders of these NFTs taking positions in voting governance proposals, having roles in the community, having access to early testing and research groups, and more.

We imagine other ways to use the NFTs within the community and we're open to exploring new possibilities.

The Season

The Awakening is the first Season of this type of reward program, and it consists of three groups of NFTs. The incubator's hatch date will be announced beforehand by the Pods team.

The Season will be live from October 12th to December 21st, 2021. The NFTs will be claimable on Ethereum Mainnet on Galaxy's website.

The list for the New Frens and LPs will be closed on December 20th at 20:00 UTC.

The NFT types

The groups are early community, new frens and LPs.

Early community

Our early community members have been extremely helpful during our initial product development phase. Early user interviews, beta testing sessions, finding and reporting bugs, giving suggestions, brainstorming ideas, and more were all essential to guide our product to where it is in this release. We are grateful for having you around and we want to make sure you feel part of our early community.

The early community members can claim up to two types of NFTs here.
Learn the criteria for claiming below.

Are eligible to claim one of these NFTs all the users that:

1. Beta testers
   - used at least two protocol functions during our Beta Testing phase (from March 3rd to June 1st). A total of 1480 addresses are eligible to claim this NFT under this criteria.
2. Demo users + early members
   - used the protocol during our Demo Release in Polygon (from June 1st to October 5th). A total of 377 addresses are eligible to claim this NFT.
   - joined a user interview or beta testing session with our team. If you did but couldn't claim on the Galaxy website, please DM us on Discord.

New frens

If you used Opyn, Hegic v888, Ribbon, StakeDAO, Lien, and Whiteheart and interacted with these contracts here before or are one of Polygon's 1000 most active users (snapshot taken on September 27th);
AND
use Pods Protocol with the same address (in any capacity or amount — buy, sell or provide liquidity) during Season 1; you will be eligible to claim an NFT by the end of the Season.

In order to retrive the Polygon's 1000 most active users, we used their Polygon score system.

LPs

All addresses that provide liquidity to options pools during Season 1 will undergo a scoring system that calculates each LP's activity score. On December 17th (extended to December 20th at 20:00 UTC), the team will calculate the final score based on the formula below, and LPs will claim their scored LP NFT.

ScoreAddLiquidity = (totalAmountInUSD)² * (expirationDate — addingLiquidityDate)³ * (addingLiquidityDate / expiration date)²
ScoreRemoveLiquidity = - (totalAmountInUSD)² * (expirationDate — removingLiquidityDate)³ * (removingLiquidityDate / expiration date)²
scoreLP = ΣScoreAddLiquidity + ΣScoreRemoveLiquidity

Where:

totalAmountInUSD = stablecoinsAddedToPool + optionsAddedToPool * strikePrice

This means that the following actions are the most valuable actions that can be done by an LP in order to increase its score within our scoring system:

• Adding liquidity to the pool from one address instead of splitting the amount into many accounts
• As early as possible during the option lifetime
• And hold the funds locked in as liquidity until the expiration date

Each address will claim one NFT, and each NFT will have its score information bound to it.

Rule: Not complying with the rule below makes the address ineligible for the LP NFT:

• Add liquidity using the add liquidity wrapped function mintAndAddLiquidity at the contract level. If you are using our UI, you don't need to worry about this rule.

Final Thoughts

We're looking forward to building Pods community with all of you that somehow participated and are interested in getting involved with Pods moving forward.

If you have any questions, don't hesitate to send them over Discord.

Acknowledgments

There are several people we would like to thank for helping us build this project.

Special thanks to our artists, Lucas Jensenn and Licinio Souza that have done a fantastic job creating our NFT incubators.

And the community members that helped us design the NFT: poopster#3593, ProjectEqual#8351, Vadym#8908, and Yolotron#3268.

About Pods

Pods is a decentralized non-custodial options protocol. Users can create options and trade them through an Options AMM on the Ethereum Blockchain. Pods is the easiest way to hedge crypto in DeFi.

We invite you to take the first step in your new mission: start testing the app on app.pods.finance

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