Equinox
Last updated
Last updated
Eclipse Equinox is the first governance aggregator built on top of Astroport DEX and is part of the Eclipse Fi ecosystem of products. Equinox serves to boost ASTRO staking rewards, create a flywheel to drive more value and adoption to Astroport DEX and Neutron, improve the affordability of directing ASTRO emissions to pools and supercharge bribe rewards for users.
Equinox will play a pivotal role at the heart of the Neutron ecosystem, locking large amounts of ASTRO voting power to create a liquidity flywheel and to attract new token listings on Astroport DEX and Neutron through Eclipse Fi launchpad.
The effects of this flywheel aim to increase the value and demand for the ASTRO token and bolster volume, users and liquidity on Astroport DEX and the Neutron ecosystem.
Equinox will be bootstrapped through a lockdrop launch event, beginning on the 21st of October 2024.
The lockdrop will run for 11 days and present an opportunity for users to participate early and share from an additional pool of rewards distributed updront for participating in the lockdrop event.
Users will have the opportunity to pledge their ASTRO or xASTRO into one of two vaults in return for a pro-rata share of pool of incentives.
11 day Lockdrop event (9 day deposit phase, 2 day withdraw-only phase)
Lockdrop Opens on 21st October 10am UTC
Withdraw-only phase starts on 30th October 10am UTC
Equinox vaults launch prior to the 11th November at 10am UTC (TBC)
Equinox is built on top of Astroport DEX in return for the Astro Wars, this was a highly competitive battle for control of liquidity incentives at the high of the Terra ecosystem, modelled around Curve Finance’s own “Curve Wars”
These Astro Wars were a battle over control and influence of Astroports’ liquidity emission centered around their Vote Escrow token model: vxASTRO, which never had a chance to see the light of day due to the Terra collapse. Now it’s making a comeback and finally ready to be released with some adaptations to the model. Projects, DAOs and Chains alike have their signs on competing once again for who controls the most voting power and is able to send incentives to their preferred pools.
Here are some of the known current participants, with more likely to join to fight:
Thanks to Equinox, Eclipse is planning to cement itself as the leader in this battle, to position and act as a king-maker across the ecosystem.
For more details and history on the Astro Wars read this blog article
Equinox is the first governance aggregator built on Astroport DEX, it accumulates ASTRO and the voting power of vxASTRO. ASTRO and xASTRO holders can lock their tokens in Equinox vaults for boosted rewards, essentially trading voting power to supercharge their staking.
These locked deposits are staked as vxASTRO, concentrating voting power and enabling ECLIP token stakers to control the DAO owned voting power. This permanently locked up a large amount of ASTRO supply and makes ECLIP staking a more affordable option for accessing bribes and voting power.
Projects can optimise their bribes through $ECLIP due to the cheaper voting power, aided by a delegation vault for managing bribes and voting on behalf of users.
Additionally, an upcoming darkECLIP derivative through the Cosmic Splitter will enhance affordability and access to voting power further!
Here are some of the benefits of Equinox:
ASTRO Stakers
Boosted Staking Rewards
Projects and entities wanting liquidity
More Affordable Access to Pool Incentives
Projects and entities looking to control voting power and re-direct emissions to their pools can get more affordable voting power by accumulating ECLIP or darkECLIP over staking vxASTRO itself.
Liquidity Incentives to Launch Projects
Projects launching their token through Eclipse Fi who pass DD and list a pool on Astroport can get access to a portion of Eclipses’ voting power to their pools post launch for a period.
ECLIP Stakers
Bribes and Voting Control to Stakers
Can stake their ECLIP and use their Cosmic Essence to control Eclipse accumulated voting power and earn bribes. The discounted element of ECLIP as voting power rather than ASTRO leads to more bribes per $.
Delegation vault to automate voting and bribes
Stakers can allocate to delegation vault for more hands off management of voting and bribes.
For further details refer to “The Equinox whitepaper”
Equinox aims to create flywheel effect for liquidity in the Neutron ecosystem and for Astroport, in synergy with the Eclipse Launchpad.
Access to liquidity incentives is a powerful value proposition for projects launching on chains like Neutron and DEXes like Astroport, as quality listings enhance mindshare, attention, and volume.
The goal is to reserve part of Eclipse DAO’s voting power to redirect incentives toward projects post-launch, making token launches and listings on Astroport more appealing.
For the launchpad itself, having access to this voting power gives it a great moat in being able to attract and launch and list higher quality projects on Neutron
This can create a moat for new launches and attract more liquidity, volume and users to the ecosystem.
These are steps in helping to solidify Eclipse Fi as the onboarding front end for the Neutron ecosystem building on top of other powerful protocols and concentrating liquidity and users into the ecosystem.
Equinox boosts rewards in several ways:
Boosts in ASTRO yields in Single-sided vault
Efficient voting power controlled by ECLIP tokens leads to higher concentration of Bribe rewards to stakers.
Equinox splits the xASTRO into the principal and it’s staking rewards.
Since there are 2 different vaults: the LP pool vault and single sided vault, 80% of the staking rewards from all the locked xASTRO gets directed to the single sided pool, 20% goes to the DAO for buybacks of ECLIP.
For the LP vault, at least 15%+ of all voting power controlled by Eclipse Fi is used to vote for and redirect emissions to the pool to boost the ASTRO yield (our modelling indicates it will be closer to 30%).
This leads to the Single-sided vaults receiving more ASTRO staking rewards and the LP vaults receiving ASTRO incentives from voting.
All of this combined with additional ECLIP/bECLIP incentives directed to both vaults.
Rewards: A maximum cap of up to 21 million $ECLIP tokens (7% of the ECLIP supply) will be allocated as Lockdrop emissions. Emissions are split as 40% ECLIP and 60% bECLIP (12 months staked ECLIP). Rewards will be claimable after the lockdrop.
Dates: Lockdrop begins on the 21st of October and runs for 11 days. 9 days deposit phase and 2 days withdraw-only phase.
Rewards: A maximum cap of up to 63 million $ECLIP tokens (21% of the ECLIP supply) will be allocated to Equinox vaults over a 4.5 year period. The amount of max emissions will be determined through a formula based on TVL and token price and will decay over time. Emissions are split as 40% ECLIP and 60% bECLIP (12 months staked ECLIP).
Dates: Equinox live vaults and voting is set to launch after the lockdrop on the 11th November at 10am UTC (TBC)
Interested in calculating estimated rewards for the Lockdrop or live vaults?
Visit our Calculators.
Get amplified ASTRO staking rewards in the form of eclipASTRO (Equivalent to ASTRO) including additional and incentives for converting their ASTRO or xASTRO.
Neutron Chain Neutron
Chain has accumulated 55 million ASTRO thanks to an early mutual grant with Astroport DEX.
Terra Alliance + Lion Dao
Terra Alliance and Lion DAO have signalled their participation in the Astro Wars and have been accumulating ASTRO.
Apollo DAO
Apollo was one of the leaders in the original Astro Wars and accumulated a reserve of ASTRO tokens to send voting power to some of the vaults.
Eclipse Equinox
Eclipse Fi is participating the Astro Wars through Equinox, planning to lock large amounts of ASTRO through the governance Aggregator Mechanism.
Nucleus Council of Scientists
The NCOS is a community, DAO and NFT collection of DeFi and Astro enthusiasts. They used proceed of the NFT collection to purchase ASTRO and back each NFT with tokens.
Boosts ASTRO staking rewards.
Makes voting power for emissions more affordable.
Supercharges token launches liquidity on Astroport DEX
Optimises the earning of bribe incentives
