Opium – the decentralized derivatives protocol – has simply introduced its governance token launch by way of retroactive airdrop and its subsequent liquidity mining program. Anybody that beforehand utilized Opium to invest on value or hedge towards buying and selling threat could also be eligible for the airdrop.
It was a wise airdrop “DROPIUM” to all customers of Opium in 2020
We received 1000s of suggestions msgs and wish to say: ensure you perceive the way it works earlier than you declare.
For 8 tokens you should still obtain 100’000 tokens if others give up earlier than you
— Opium (@Opium_Network) January 27, 2021
The Opium workforce cites analysis round Uniswap’s mass retroactive airdrop as the premise for a lot of their design choices.
From the beginning, they needed to make sure the airdrop rewarded true-believers of the protocol relatively than speculators that will promote their tokens on the open market instantly. With this aim in thoughts, the Opium workforce launched a scheme that goals to skew rewards in direction of long-term oriented individuals.
Opium liquidity mining tokens shall be positioned in a vault from which customers can withdraw their earned tokens at will, with the caveat that early withdrawers will face a penalty and their loss turns into the acquire of the longer-term individuals. The early withdraw penalty charge may lower with time so as to reward all individuals that determined to carry their tokens for an prolonged period of time.
From the workforce’s tough calculators, relying on the scenario the final holder to withdraw may earn as a lot as 30,000x greater than the primary holder to withdraw.
The hope is that this new distribution mechanism rewards the strongest supporters of the Opium protocol by pure incentives and recreation concept.
You possibly can verify you’re eligibility for Opium tokens by connecting to opium.finance and heading to the “Rewards” web page. For a 2 minute explainer on Opium protocol’s token distribution take a look at this video created by the workforce.
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