Claim your ZLK rewards and participate in the IYO Target Adjustment Community Poll

Zenlink has launched Moonriver and Bifrost on November 3 and started IYO (Initial Yield Offering), the 1st cycle of IYO is nearing the end, where trading mining, liquidity mining, and staking on Bifrost have all ended; trading mining on Moonriver has also ended, liquidity mining and staking have to wait for the block countdown to end, which is expected to end between 21:00–22:00 UTC on November 18 at the current block output speed. The Invitation to Earn campaign cycle is consistent with the entire IYO cycle (4 weeks) and will officially end on November 30.

You can now go to Zenlink DEX to claim their 1st cycle rewards. Since the mechanisms of Moonriver and Bifrost are different, the way to claim the rewards is also different, which will be briefly explained in this article.

How to claim 1st cycle rewards?

Trading Mining

• Claiming rewards on Bifrost
  Trading rewards on Bifrost are distributed by automatic airdrop and no manual claim is required by the user. All ZLK rewards have been distributed and users can go to Zenlink DEX to connect their wallets and check the ZLK balance.
• Claiming rewards on Moonriver
  Trading mining rewards on Moonriver are open for the claim, users can go to https://dex.zenlink.pro/#/earn/trading to connect to the wallet and claim the 1st cycle rewards manually.

Liquidity Mining

• Claiming rewards on Bifrost
  The liquidity mining rewards on Bifrost are now open for the claim, users can go to https://dex.zenlink.pro/#/earn/stake to find the ended LP farming activity and claim the ZLK rewards manually. Please note that the liquidity mining rewards on the Bifrost are claimed automatically by clicking on “Redeem”, so there is no need to click on the “Claim” button, please check the ZLK balance in your wallet and check your LP share on the “Pool” page after a successful claim.

• Claiming rewards on Moonriver
  Liquidity mining and Staking on Moonriver requires waiting for the block countdown to end, after which there will be a reward settlement time ( about a few hours), after which the claim will be opened, please be patient.

It should be noted that since the duration of the liquidity mining & staking activity on Moonriver exceeded the expected 14 days, as compensation to LPs, we will increase the rewards in proportion to the increased duration and distribute the increased rewards to all users who participated in the liquidity mining and staking activity. Check it out here: https://twitter.com/ZenlinkPro/status/1461312467489804290?s=20

When will the ZLK transfer be available?

According to the previously announced rules, we need to achieve the following three targets in the IYO before the ZLK will enable the transfer.

Total Value Locked ≥ $100M

Total trading volume for 3 consecutive days ≥ $50M

ZLK Holder Address ≥ 50,000

Looking back at the results of the first IYO campaign, we have actually reached two of the three targets — TVL ≥ $100M and ZLK holder addresses ≥ 50,000 (as most users have not yet claimed their rewards, ZLK holder addresses are actually well over 50,000), so we only need to reach the last target: total trading volume for 3 consecutive days ≥ $50M to enable ZLK transfers.

However, given the current realities of the Polkadot ecosystem and the adjustments to the IYO Phase 2 rules, this target is almost impossible to achieve. Therefore, after listening to the community, the team decided to adjust the target to enable ZLK transfers ASAP, as well as to open ZLK staking and LP farming activities. After taking all of this into consideration, two options were presented for the community to vote.

Option 1: Change “Total trading volume for 3 consecutive days ≥ $50M” to “Total trading volume for 3 consecutive days ≥ $10M”.

Option 2: Change “Total trading volume for 3 consecutive days ≥ $50M” to “Total DEX volume ≥ $400M” (Total DEX volume is $330M as of now)

We will then launch a poll on Twitter (https://twitter.com/ZenlinkPro), which will be open to all community members for 24 hours, and you can also post your suggestions and ideas in the comments section for our consideration.

FAQ

Q: What will happen after ZLK enables the transfer?

When ZLK is opened for transfer, ZLK-related pairs/liquidity pools will first be enabled through the Bootstrap program, and users can participate in the Bootstrap to help ZLK complete its Listing. once the Bootstrap is successfully completed, users can trade ZLK within Zenlink DEX.

Q: Will there be ZLK staking and LP farming?

Yes, ZLK staking and LP farming will be launched one after another after ZLK transfer is opened, more details will be disclosed later, please stay tuned.

Q: Are there any adjustments to the rules of the 2nd cycle of IYO?

Yes, after summarizing the problems revealed in the 1st cycle of IYO activities, we have adjusted the rules of the 2nd cycle of IYO activities accordingly, you can check the details here: https://medium.com/zenlinkpro/announcement-of-rule-adjustments-for-the-2nd-cycle-of-zenlink-iyo-2f27b80996f8

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