One of our main purposes regarding airdrop distribution is to make sure to have a fair token distribution to avoid airdrop hunters. So, according to what we have said previously, users who added liquidity to the protocol (leveraging Multichain’s officially bridged tokens and $SYS) and/or performed swaps equal or above 200SYS in the DEX from February 16th to March 10th, 2022, will be eligible for a proportional PSYS airdrop.
We also want to emphasize that other airdrops will be carried out in the first months after the launch of farming, staking, and the token PSYS (happening on April 27th, 2022) with surprise dates for users who interacted with the protocol and actively participated in our community.
Total amount distributed in the first airdrop: 1,000,000 PSYS
Pools that grant eligibility:
SYS_USDC
SYS_ETH
SYS_USDT
SYS_WBTC
SYS_DAI
Snapshot Block: 53393
All the users with an amount of more than 200 SYS in swaps up to the snapshot block in these pools are eligible for the airdrop.
The part dedicated to the swap is divided equally among all eligible users. Which means:
300000/458 = 655,021 tokens per user.
Considering the launch price of US$ 0.14 it is US$ 91 worth of $PSYS.
A snapshot was taken of all the LPTokens balances referring to these pools in the snapshot block, and weight was defined for each of the pools based on the amount of liquidity it has.
| SYS_USDC | 46.5% |
| SYS_ETH | 33% |
| SYS_USDT | 5.5% |
| SYS_WBTC | 14.5% |
| SYS_DAI | 0.5% |
The final value for each user is defined by: (∑LP Amount LP Weight) 700,000.
The sum of liquidity in these pools at the time of the snapshot was US$ 1,399,509 which means that we will distribute 0.5 token per dollar locked in liquidity, or 7 cents per dollar, with the launch price at US$ 0.14.
Therefore, the 1,000,000 PSYS will be distributed between 1230 users (since there are accounts that provided liquidity and also swapped).
The airdrop for early users of Pegasys will be available at token launch on April 27th, 2022 on app.pegasys.fi.