Retroactive Liquidity Mining
Of course there’s going to be a retroactive airdrop! As we approach our public sale, there’s probably no better time to inform our dear apricots 🍑 of all the details about how our retro airdrop works.
So here we go 🚀
Reward Rates 📈
We are giving out 1% of APT’s total token supply as retroactive airdrop for users who have or will have deposited, borrowed, and X-farmed on Apricot in the first 30 days since our launch on October, 19th.
Yes, that means our retro program is still ongoing and will last for another 10 days or so!
Every second, approximately 3.858 APT tokens are emitted to our users. The rules of distribution are as follows:
- Deposit and borrow for all tokens are counted and considered
- Each dollar value deposited or borrowed earns the same rate of base APT rewards
- LP token deposits earn only the base APT rewards (1x)
- SOL, mSOL, USDC, USDT earn 3x the base rewards
- Other tokens (USTw, BTC, ETH, RAY, ORCA) earn 2x the base rewards
In short, your retro rewards =(LP tokens x1) + {(SOL + mSOL + USDC + USDT) x3} + {(USTw + BTC + ETH + RAY + ORCA) x2}In case you are wondering, when you use X-farm, you are actually creating LP token deposits into your Apricot account, so those LP tokens do earn the 1x deposit rewards. And if you have borrowed tokens to start X-farming, yes those borrows earn you rewards according to the rules above.
As an example, let’s take a look at the following account with approximately $1000 deposit position in USDC and $500 borrow position in BTC
Assuming the weekly rate for USDC deposit is 3.1 APT / $1000, and the weekly rate for BTC borrow is 2.1 APT / $1000, then the weekly APT reward this account will receive is simply
$1000 / $1000 * 3.1 + $500 / $1000 * 2.1 = 4.15 APTIf this account has another $1000 in any LP tokens, which earns one-third the weekly reward rate of USDC or half of the weekly reward of BTC (approximately 1 APT / $1000 per week in this example), then this account will earn another 1 APT per week.
Distribution 🎁
Once the 30-day period is up (right before our Token Generation Event), the exact amount of rewards you can claim will become visible from the Rewards tab.
The retro airdrop will be released over a period of 4 weeks after our Token Generation Event. Each week, 25% of the airdrop will be unlocked and made available for users to claim.
What Happens After Retro ⁉️ 👀
Once the 30-day period ends, we will activate our liquidity mining program. It will likely retain a similar structure but differ in some reward details, so keep watching out on our Twitter, Discord, and Telegram for the latest updates!
More to come! Stay tuned 👋
Follow us on:
Twitter: https://www.twitter.com/ApricotFinance
Discord: https://discord.gg/C6JrtqZF5U
Telegram: https://t.me/ApricotOfficial
Telegram Announcement: https://t.me/apricotfinanceann
Website: https://apricot.one/
