We are excited to announce the airdrop of HASH token exclusively to our v1 mainnet users. A total of 0.5% of HASH token supply, and 999 V1OG NFTs are earmarked for this airdrop. Please read the rest of this announcement carefully so that you don’t miss out on key details.
About the airdrop/liquidity mining campaign
This campaign will run for 8 weeks, beginning November 27, 2023 & conclude on January 22, 2024.
Users earn reward points based on the liquidity they supply/borrow, as well as the liquidity they bring through their referrals. These reward points are converted into HASH tokens at the end of the campaign.
The campaign pool holds 0.5% of the HASH token supply, with an emission rate of 0.1% every 2 weeks. The remaining 0.1% from this liquidity campaign pool will reward the app users in-exchange for assisting Hashstack achieve three key milestones. These are
- TVL $250,000 : 0.025% HASH token supply
- TVL $1,000,000 : 0.025% HASH token supply
- TVL $10,000,000 : 0.05% HASH token supply
Hashstack will take upto 6 random snapshots during each 2 week period(i.e. 1 epoch). The balances captured across these snapshots are averaged by 6 to determine fair reward points per user.
The value of 1 point in dollar terms is determined at the time of the snapshot. Eg, Let us say, you have borrowed 0.25 ETH. The price of ETH at the time of your transaction was $1,800. However, at the time of snapshot if the ETH price is $2,000, you will be allocated 500 points. If the ETH value drops to 1,500 post snapshot, your points still continue to be 500.
During the first epoch, Hashstack will mint 999 V1OG NFT. These NFTs will be issued to three categories of users —
- Core community contributors,
- V1 power users,
- Ecosystem partners.
The V1OG NFT holders will serve as the gatekeepers of the Hashstack ecosystem till the period, the token comes into circulation.
Tip: You can maximise your rewards by opting to borrow, instead of supply. Hashstack’s unique feature allows you to borrow 5 times your collateral as debt. With as little as $25, you can borrow upto $125. Thereby earning upto 125 reward points, as opposed to simply supplying $25 as liquidity. In which case, you could earn only reward 25 points.
- Users will be able to claim their HASH tokens from the airdrop page, upon the public release of HASH token in Q1, 2024; subject to the vesting schedule mentioned in the tokenomics. The tokenomics will be released very soon.
- The claiming period will last 24 months, upon which any remnant tokens will be returned to the community pool.
How to participate
To participate in this liquidity mining campaign, you must use Hashstack V1 at app.hashstack.finance, and complete at least one successful transaction involving liquidity supply(guide to supply), or borrow(guide to borrow).
Upon this transaction, you will be able to generate a referral link that you can use to invite your friends. As more users provide liquidity by joining through your referral link , you will earn extra reward points for every dollar liquidity they supply, or borrow. These points will add onto your existing points, increasing your overall share in the airdrop rewards pool.
Users can monitor their position and performance using this link: https://app.hashstack.finance/v1/airdrop_leaderboard/
Note: The reward points displayed in real-time are meant to give you a near real-time feedback on your overall points accumulation. This data is updated every 12hours, and may vary vastly with the points you actually end up earning during the snapshots. This can be a result of asset price variations, as well as change in liquidity positions(supply/borrow/referrals) at the time of snapshots. Hence, it is suggested to maintain/increase your liquidity at least during the runtime of this campaign.
Only the liquidity generated data captured during each snapshot will be considered as actual points accrued.
Getting V1 access:
There are three ways you can get access to Hashstack V1.
- Through an Invite link.
- Through account whitelisting/V1OG NFT.
- By Joining Hashstack’s discord server(hashstack.community). Join Hashstack community. Go to #request-v1-access, type !link to generate an invite link.
The HASH token is a key catalyst in the Hashstack ecosystem, and will serve 3 primary objectives.
- Store of authority(Governance): To enable decentralised governance.
- Store of value(Utility): For payment of in-dapp transaction fees, compensating partner projects, KOLs, and community participants who help secure/further the Hashstack ecosystem.
- Unlock liquidator role: Liquidators on Hashstack take the responsibility of repaying the bad debt to the Hashstack protocol, in-exchange for acquiring them at a discount.
HASH tokens total supply is hard capped to 9,000,000,000 (9 billion). For TGE, Hashstack has partnered with the Industry leading launchpad — Tokensoft that helped launch Avax (Avalanche token), GRT (The Graph token) among other notable projects.
- Epoch: 1 epoch = 2 weeks for this airdrop campaign. 4 epochs imply, 8 weeks. This campaign will stay active for a total of 8 weeks.
- Snapshot: Upto 6 snapshots are captured per epoch. These snapshots are taken at random times. The captured liquidity generated data across all the snapshots within an epoch are averaged. It is necessary to ensure you maintain stable liquidity through out the course of the epoch, and the campaign.
Disclaimer & Prohibited persons
- The V1OG NFT are minted by Hashstack, and distributed to the users based solely at its discretion.
- No persons subject to sanctions or who are resident or nationals of a sanctioned jurisdiction will be eligible to receive tokens. Please further note that the Foundation reserves the right to impose a lock up (on terms to be determined at its sole discretion) on any tokens delivered to eligible recipients.
- No person who is a citizen of, resident (tax or otherwise) of, green card holder of, incorporated in, owned or controlled by a person or entity in, located in, or has a registered office or principal place of business in the United States (defined as a “U.S. person”); no person who is acting for the account or benefit of any U.S. person; and no persons in any jurisdiction in which such offer, sale, holding, and/or purchase of digital assets or cryptocurrencies is unlawful, prohibited, or unauthorized (together with U.S. persons, a “Restricted Person”) is eligible to receive HASH tokens.
- No person who is intending to acquire HASH tokens for the purposes of selling, granting any participation in, or otherwise distributing HASH tokens to any Restricted Person is eligible to receive HASH tokens.
- HASH tokens may not be offered, sold, or delivered within the U.S., or for the account or benefit of Restricted Persons. HASH tokens that may be offered on secondary markets and other platforms are not for distribution to any Restricted Person. No offers, sales, resales, or deliveries of HASH tokens may be made in or from any jurisdiction (including the U.S.), except in circumstances that will result in compliance with any applicable laws and regulations.