Announcements

Common Drops: Here’s to the OGs!

May 15, 2024

As part of our Common Drops campaign, we’ll be bringing the OG Drop campaign, which will reward those who have been staking AZERO since the very beginning! Here’s how it works.

The Common Drops campaign celebrates the Mainnet launch of Common AMM with a handful of rewards! After the description of Intro Drop and Four Rounds of Staking Drops, let’s take a closer look at what we have prepared for the OG Drop!*

Before we move forward, Common AMM is a fast, simple DEX with an intuitive user experience that is launching on May 21st. Advanced features, such as order books and privacy-enhanced trades, are still being worked on!

*OG – someone who is an original or originator and especially one that is highly respected or regarded

– Merriam–Webster Dictionary Definition

The OG Drop Rules

Common Drops are one of the additional rewards for AZERO stakers. If you’re an AZERO veteran, you’re eligible for more Drops as an appreciation for your support of the ecosystem!

To reward the stakers (both the self-staking validators and non-validator nominators) we are proposing a set of rules similar to the Intro Drop and four rounds of Staking Drops, but with a further emphasis on the length of staking.

The rewards are based on the “Effective Stake”. Your Effective Stake is established by comparing your daily average AZERO staked over the whole period (including eras when not staking) with your stake when a snapshot taken at the very end of the period. The lower number of these two is your Effective Stake.

The period for which the daily averages are counted is between the snapshot taken in the second era after introducing staking on the Mainnet, and a snapshot taken later during the campaign. This is more than two years of staking!

If you’ve staked the same amount for the whole period, you’ll get 2 Common Staking Drops per each AZERO staked, according to the Effective Stake.

The key here is to:

  • Stake at the time of the last snapshot taken during the campaign;
  • Stake at any time since the staking has been live with nominations on the Mainnet (April 28th, 2022).

Periods where you have not been staking AZERO do not disqualify you from the Drop, but they lower your effective stake and thus the rewarded Common Staking Drops as it takes the daily averages into account.

How it works?

If you’ve started staking at any point in time after the staking and nominations had been enabled and continue to stake at the time of the snapshot, you’re eligible for the OG Drop, but your effective stake will be slightly lower. For such cases, it’s easiest to take a look at the eras in which you’ve been staking in and see what’s the proportion to the total number of eras (with staking enabled).

Here’s an example:

  • Staking with nominations is live since April 28th, 2022. That is 748 eras until now.
  • You have started staking 10,000 AZERO on May 23rd, 2022 and continue to do so. That is 723 eras until now.
  • The last snapshot is done now.
  • Your effective stake is 723/743*10,000=9,667 AZERO.
  • Your OG Drop: 19,334 Common Staking Drops (2 Drops per 1 AZERO)

If you’ve participated in half of the eras, your Effective Stake is half of it–and so on.

What if I’ve moved my stake to another account or Ledger wallet?

We’re aware that during that time, some users have switched their stakes to other accounts, mainly due to using Ledger hardware wallets when they were integrated with Aleph Zero.

To solve that, we invite you to fill out the form that gathers information about such cases. Fill in the accounts that should be eligible for the Drop, add the main Account Address that you use now, and you’re covered!

FILL THIS FORM IF YOU SWITCHED TO NEW LEDGER WALLET OR ACCOUNT

For users that switched to Ledger, the eligibility for the Drops will be verified on all the provided accounts. If you’ve moved the stake, your Effective Stake will be based on:

  • The sum of daily averages on all the eligible accounts until the time of unstaking. The period after unstaking won’t be taken into account for those accounts.
  • The sum of daily averages after restaking on the new account. The period before restaking won’t be taken into account.
  • Your stake at the time of the snapshot during the campaign.

The lowest number of the three above will be your Effective Stake.

For all users who have moved their stake between accounts, we assume that the AZERO has been restaked immediately after the 14-day unbonding period. If you restaked after exactly 14 days, it will not impact your stake. Longer periods of having AZERO unstaked will be considered, but with such a large number of days/eras taken into account, a delay of a few days will not significantly affect the Effective Stake.

Wrapping it up, keep in mind that staking AZERO now will not only contribute to securing the Aleph Zero network and earning rewards for it, but it’s also your gateway to receiving CMN!

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Mateusz Raczyński
Mateusz Raczyński
Marketing Manager

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