🎁$FYDE Airdrop

Airdrop Amount and Future Seasons

Fyde is airdropping 7% of its total token supply to Season 1 participants! We believe in putting our community first, and wanted to make sure that the early participants are appropriately rewarded for their faith and confidence in us. Read below for the eligibility criteria and the airdrop breakdowns, and stay tuned for future seasons with Fyde!

Eligibility

There are four ways to have been eligible for the Fyde airdrop:

  1. Deposit into the Liquid Vault: app.fyde.fi

  2. Deposit into the Fyde Restaker: restaking.fyde.fi

  3. Actively participate in Fyde community (Discord, Zealy, etc)

  4. Farm via the Fyde Telegram mini-app

The Fyde airdrop eligibility period was also split into 2 periods.

  1. November 27th 2023 - January 5th 2024

  2. January 6th 2024 - June 21th 2024

Airdrop Allocations

The breakdown of rewards based on eligibility are shown below.

As the Liquid Vault is Fyde primary product, it was appropriate to give the biggest portion of the airdrop to the Liquid Vault users. We wanted to reward community members who were active as well, as having an engaged community is important to the future of any project. Therefore, a combined 1% of the airdrop was also given to participants in the community who were active on Discord, in Zealy quests, and who engaged with Fyde through the mini-app.

Regarding the time periods, it is always important to reward the early adopters of a protocol. As such, 37% of the total airdrop was rewarded to users in the first period based on deposit size. 63% of the airdrop was rewarded to users in the second period based on final points allocation. These dates marked the end of our first public escrow period and the transition to a public, fully functional on-chain protocol.

Airdrop Amount

Given that points vary across platforms, the simplest way to calculate each user's airdrop allocation was to divide their points allocation by the overall points for that category, multiplied by the dollar value of the total airdrop for that category, and sum the amounts across every active category for that user, or:

Ai=j=1n(Pi,jPj×Dj)A_i = \sum_{j=1}^{n} \left( \frac{P_{i,j}}{P_{j}} \times D_{j} \right)

Given:

  • Pi,jP_{i,j} Points allocation for user ( i ) in category ( j )

  • PjP_{j}: Total points for category ( j )

  • DjD_{j}: Dollar value of the total airdrop for category ( j )

  • nn: Number of active categories

As an example, if Bob had 100 points in the Liquid Vault and 200 points in the Fyde Restaker, the total points across everyone in the Liquid Vault was 500 and Fyde Restaker was 2000, and the total airdrop amount was $3000 and $1000 respectively, then Bob's final airdrop allocation was:

ABob=(100500×3000)+(2002000×1000)A_{Bob} = \left( \frac{100}{500} \times 3000 \right) + \left( \frac{200}{2000} \times 1000 \right)

Summing these amounts gets Bob's airdrop total:

ABob=600+100=700A_{Bob} = 600 + 100 = 700

How is Community Participation Determined?

Community participation is split into 3 sections: Discord, Zealy, and the Telegram Mini App. As we want to reward the people who have been actively partaking in conversation and working to grow the Fyde ecosystem, 0.5% of the total airdrop allocation will be given to the Discord community, 0.25% will be given to the Zealy participants, and 0.25% will be given to the Telegram participants. If you partook in Zealy and was also active on Discord and Telegram, you qualified for all three airdrop segments.

Discord

The Discord airdrop allocation is determined by how active users were in the Discord. A points system was created from this to determine how to award each user.

For user activity, we looked at how often users posted non-deleted comments that were greater than a baseline characters limit. Each comment was worth 1 point (Activity Points), and a minimum threshold of posts were needed to qualify.

As the Fyde Club roles were relatively recent, we didn't feel it was fair for users to be evaluated based on Fyde Club roles for this season. However, this will play a factor in future seasons. Doing this gives users additional chances to accumulate roles before Season 2.

Discord Airdrop Allocation Formula

The allocation for each user in the Discord airdrop is determined by their activity in Discord (Activity Points) divided by the total amount of Activity Points amongst qualifying Discord users.

Points Calculation

Ai=Pij=1nPjA_i = \frac{P_i}{\sum_{j=1}^{n} P_j}

Where:

  • AiA_{i} is the allocation % for user ( i )

  • PiP_{i} is the Activity Points for user ( i )

The allocation % is then multiplied by the total Discord Airdrop Pool to get the specific allocation per user.

Zealy

Zealy airdrop allocation is determined by the total amount of points each user accrued, divided by the total amount of points in total across all users.

The allocation for each user in the Zealy airdrop is determined by the following formula:

User Allocation=(User’s PointsTotal Points)×Zealy Airdrop Pool\text{User Allocation} = \left( \frac{\text{User's Points}}{\text{Total Points}} \right) \times \text{Zealy Airdrop Pool}

Telegram

Airdrops for farmers in the Telegram Mini App followed the same principle as the previous two, whereby we divided a user's points by the cumulative points across all the users and multiplied by the Telegram Airdrop Pool.

Capping

To ensure the airdrop was fairly distributed, we implemented a capping to make sure no single person received too much of the total airdrop per category. The redistribution was then done proportionally to how much airdrop receivers should have gotten - this way we don't unduly reward farmers who deposited low amounts to try and game the system. For depositors and stakers into the liquid vault, the cap was set at 5% of total airdrop amount. For Discord, the cap was set at 0.05% of total airdrop amount. For Telegram, the cap was set at 0.01% of total airdrop amount.

How to Claim:

Claim links will be posted here prior to TGE.

Vesting:

It is important to note that the $FYDE airdrop follows a 30-day linear vesting schedule to prevent immediate dumping pressure. By doing so, we seek to protect long term community members from farmers looking to generate a quick return.

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