πLockdrop
The precursor to the Equinox launch.
View a video on Equinox mechanics here.
The lockdrop takes place before Equinox is live and has 2 phases: a deposit phase and a withdrawal phase.
Participating in the lockdrop allows users to take advantage of boosted rewards and have first access to eclipASTRO.
Lockdrop Event Details :
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.
Depositors have two options to deposit ASTRO or xASTRO:
1) Single-Sided Vault 2) eclipASTRO-xASTRO LP Vault
For both options, flexible & time-lock positions are available.
Boosted reward multipliers for timelock positions are as follows: Flexible: 1x 1 month: 1.25x 3 months 1.5x 6 months: 2x
Rewards are ECLIP (40%) and bECLIP (60%) upon conclusion of the lockdrop.
Early withdrawal from time lock positions is permitted. A 50% penalty will be applied for early withdrawal.
Single-Sided Vault
100% of your deposit will be converted to eclipASTRO at the conclusion of the lockdrop.
eclipASTRO can be swapped back to ASTRO via Astroportβs swap. Rates are subject to market conditions.
eclipASTRO-xASTRO LP Vault
100% of your deposit will be converted to eclipASTRO-xASTRO LP tokens at the conclusion of the lockdrop.
LP tokens can be redeemed for eclipASTRO and xASTRO on Astroport.
Deposit phase
During the deposit phase users can freely deposit as much ASTRO or xASTRO as they desire and also withdraw as much as they desire.
Deposit ASTRO or xASTRO in the Single-Sided Vault or eclipASTRO-xASTRO LP Vault.
Freely deposit and withdraw without any penalties.
9 days long
Withdrawal Phase
During the Withdrawal Phase users can only withdraw from positions they have already deposited. Withdrawals are limited to once per depositor and a maximum of 50%. The amount available to withdraw gradually diminishes, reaching 0% at the conclusion of the Withdrawal phase.
No deposits permitted.
Withdrawn assets will be returned to the user in xASTRO.
Max Withdraw of 50% permitted for the entirety of Day 1.
From the start of Day 2 the percentage gradually diminishes as time passes, reaching 0% at the conclusion of the Withdrawal Phase.
Only one withdrawal permitted per position during the Withdrawal Phase.
2 days long.
Conclusion of Lockdrop
The lockdrop will conclude when the Withdrawal Phase ends.
All Single-Sided Vault deposits are immediately converted to eclipASTRO at the conclusion of the lockdrop.
All eclipASTRO-xASTRO LP Vault deposits are converted to eclipASTRO-xASTRO LP tokens.
Rewards will be claimable after the lockdrop concludes and the Equinox platform is live.
Flexible positions can be withdrawn at the user's discretion after the lockdrop concludes and the Equinox platform is live.
Once rewards are claimed from flexible positions, the underlying position will be merged with any post-lock drop positions.
Interested in calculating estimated rewards for the Lockdrop or live vaults?
Visit our Calculators.
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