Switcheo 1st Birthday — HODL Campaign
As part of our “Switcheo Turns One!” birthday celebration, we are happy to announce that we will be launching a Switcheo Chest event to reward our Switcheo HODLers!
This event has two tiers — Switcheo HODL Lite and Premier.
Switcheo HODL Lite
Commit to hold at least 15,000 SWTH for 90 days in Switcheo Chest to earn from a pool of 1,000,000 SWTH tokens.
Participants should lock up their SWTH tokens for 90 days, beginning on 8 April, to 7 July, 12:00 SGT (UTC+8).
Switcheo HODL Premier
Commit to hold at least 15,000 SWTH for 180 days in Switcheo Chest to earn from a pool of 3,000,000 SWTH tokens.
Participants should lock up their SWTH tokens for 180 days, beginning on 8 April to 5 October, 12:00 SGT (UTC+8).
Switcheo Chest will be available for users to commit their SWTH tokens on 8th April, 12:00 SGT (UTC+8).
To qualify for this event, participants will have to do the following:
- Commit a minimum amount of 15,000 SWTH into Switcheo Chest
- Committed SWTH tokens cannot be unlocked or used until the stipulated event end time
- Users may commit tokens after the event has started, but the amount of rewards earned will be pro-rated by the lock-up start date
- Only users who have fulfilled these criteria will be eligible to earn SWTH tokens
- SWTH tokens earned will be credited to the user’s wallet upon the end of the each event tier
Reward Calculation: (Committed amount by user * Number of days locked) / Σ(Committed amount for each user * Number of days locked for each user) x Total pool amount
Scenario 1 — Switcheo HODL Lite:
Scenario 2 — Switcheo HODL Premier:
- Only users who have fulfilled all the criteria throughout the campaign period will be eligible for the rewards
- Distribution of SWTH rewards will be conducted within 2 weeks of the end of the campaign
- Switcheo reserves the right to amend event rules or cancel the event at our sole discretion
For more information on the steps to commit your SWTH tokens, click on the link below:
As Switcheo’s HODL campaign draws near, we are pleased to share with you the steps on how to commit your SWTH tokens on…medium.com
To view Switcheo’s terms and conditions, go here.