ORAIX Fairdrop Announcement #3 for ATOM holders
Launched in March 2022 by Oraichain, OraiDEX is a CosmWasm smart contract-based decentralized exchange with multi-chain interoperability, optimal speed and lots of liquidity options for users. Its governance token, namely ORAIX, will be listed in May 2022 and will come along with an ORAI Fairdrop Program for ORAI, ATOM, OSMO, LUNA, JUNO, AIRI, and KWT holders. In this article, we would like to announce the requirements for ATOM holders on Cosmos Hub and Oraichain.
A snapshot for ATOM holders on Cosmos Hub and Oraichain
Oraichain is proud to be a part of the thriving Cosmos ecosystem and with a view to incentivizing ATOM holders who keep securing the Cosmos Hub & supporting our OraiDEX platform, we are delighted to announce that ATOM holders whose tokens meet either of the below conditions below are qualified to get the holder whitelisted & calculated for the ORAIX fairdrop (at the snapshot moment):
- Being Native ATOM on Cosmos Hub (not CEXs) or;
- Being IBC ATOM on Oraichain/OraiDEX
Snapshot date: at any time until the ORAIX listing event in May
Number of snapshots: 1
As for trading & liquidity options for ATOM on OraiDEX, users can swap ATOM to ORAI/AIRI/UST and take part in our Liquidity Mining Program’s ORAI/ATOM pool with ORAIX rewards. We plan to expand the list of IBC and OW20-compatible tokens (such as LUNA, OSMO, JUNO) and open more liquidity pools on OraiDEX while considering ORAI as another bonus for the reward pool.
TVL of ORAI/ATOM pool at the time of writing: ~$321,280
Details about the fairdrop requirements for other tokens (OSMO, LUNA, JUNO, AIRI, and KWT) will be revealed in the near future.
ORAIX Fairdrop Distribution for ATOM holders
We will capture and create whitelisted wallets which are eligible for claiming ORAIX later. The ORAIX amount each wallet can claim depends on the following criteria:
- Total allocation for ATOM holders (up to 6% of ORAIX total supply)
- ATOM balance
- Delegated ATOM, un-delegated ATOM, IBC ATOM on Oraichain, and LP ATOM-ORAI on OraiDEX have different multipliers.
- Max cap each wallet
- Wallet’s history activities
- Required tasks on OraiDEX
Notes:
- The fairdrop formula is designed to ensure that all ATOM holders are given a fair opportunity to receive ORAIX.
- With concern to potential violations and malicious acts that go against mutual benefits of our community, Oraichain reserves all the rights to suspend the eligibility of any misconducted address and furthermore, revoke his/her fairdrop amount.
- Multi-wallet users and blacklisted wallets from other Cosmos’s airdrop events are immediately prohibited from this event.
About OraiDEX and ORAIX
OraiDEX is a CosmWasm smart contract-based decentralized exchange platform with multichain interoperability, optimal speed, and a lot of liquidity options for users.
ORAIX is the governance and utility token of OraiDEX, and a meta-staking program for ORAI and ORAIX holders. Read more about ORAIX here.
ORAIX Tokenomics:
- Total supply: 1,000,000,000 ORAIX
- Staking rewards: 30% (including fairdrop + initial listing)
- Liquidity mining incentives: 50%
- Developer pool: 15%
- Community pool: 5%
Listing price on OraiDEX will be voted by ORAI holders in mid April (below is an example):
- Listing price: $0.025
- Initial circulating supply: 20,000,000 ORAIX
- Initial market cap: $500K
- Diluted market cap: $25M
Staking rewards, liquidity mining incentives, and developer pool will be vested in 5+ years.
