dXCAD Airdrop & How to Qualify
As previously announced it’s time to release details of the dXCAD airdrop. We wanted to kick off XCADMAS as we mean to go on, with some very exciting news for the XCAD community!
dXCAD is a governance and reward token for the XCAD DEX, it’s an essential component of the DEX ecosystem. XCAD will be doing a huge airdrop to stimulate adoption, and community growth for the DEX. 12,000 dXCAD will be airdropped to holders, initial liquidity will be added to the XCAD/dXCAD pair at $175 per XCAD, which means the airdrop will have a total value of $2,100,000.
How do I qualify for the dXCAD airdrop?
To qualify for the dXCAD airdrop, we plan to take snapshots of XCAD holdings in non-custodial wallets on all chains, ZRC-2, BSC, ERC-20, and Polygon. This is subject to Zilliqa approving our request to enable dXCAD on the Zilliqa bridge, we will update you if anything changes. The snapshots will begin on the 9th of December at 11 pm UTC, with the final snapshot taking place on the 4th of January. Snapshots will be taken at varying intervals, to monitor the XCAD holdings throughout the date range. An average XCAD amount will be taken from the snapshots, this amount will be used to calculate your airdrop distribution.
The dXCAD airdrop will be distributed relative to qualifying participants’ average XCAD holdings. The 12,000 of dXCAD will be split proportionally based on how many XCADs our snapshots record you holding.
*Please be aware holdings on exchanges will not qualify, you need to move to a non-custodial wallet, eg metamask or Zilpay.
In November, XCAD Network announced it was expanding its DEX further. We decided to open the DEX up to other ZRC-2 tokens, instead of purely Creator tokens. A reminder, all LP pairs on the XCAD DEX will be paired with XCAD, which will help to take further XCAD supply out of circulation. For example :
dXCAD will have single asset staking, where you earn staking APR in ZRC-2 tokens. Similar to the QuickSwap/PancakeSwap models.
More utility and deflation around dXCAD will be announced soon.
How many dXCADs are distributed?
12,000 dXCAD will be airdropped to XCAD holders, initial liquidity will be added to the XCAD/dXCAD pair at $175 per dXCAD, which means the airdrop will have a total value of $2,100,000.
The dXCAD will be airdropped in increments in order to allow for long-term sustainable growth of dXCAD and the DEX. 10% will be distributed on the 6th of January 2022, and then 10% on a monthly basis for 9 months.
What is a snapshot?
A “Snapshot” is a record of all the available XCAD balances, in all the eligible wallet addresses, at specific intervals during the 22 day period.
Read more about our DEX expansion here: https://medium.com/xcademy/introducing-dex-changes-dxcad-token-airdrop-and-further-deflation-of-the-xcad-token-a01eca25ebe1
Stay tuned for more announcements this XMAS, including the DEX launch date.