How do you know if you’re eligible for Common Drops rewards?
The launch of Common Automated Market Maker (AMM) marks an important milestone for the Aleph Zero ecosystem—and this is just the beginning!
Common AMM is the initial product of the Common DeFi Suite. It will enable users to perform fast, simple swaps using a familiar, yet optimized and refreshed interface. The AMM will launch together with fundamental DeFi primitives to drive more on-chain activity, enable liquidity provision and yield farming, and extend the overall utility of the ecosystem.
Once the AMM is launched, more features will be gradually rolled out to fulfill what Common set out to be—the best trading experience in the industry, period.
Privacy will be a key factor in achieving said goal; as a standalone, it is just a feature. In on-chain trading, however, it will serve as a gateway to superior user experience that allows users to prove validity of transactions without revealing specific details about the transaction itself, shield amounts, origins, and destinations, or enhance swaps by revealing the sizes and assets only upon execution.
To celebrate the launch of the AMM, in anticipation of the privacy-enhanced environment, we’ve prepared something very special for the Aleph Zero community. Say hello to a series of juicy Common Staking Drops rewards.
Let’s dive in!
What are Common Staking Drops and Effective Stake?
Common Staking Drops (CSDs) are rewards that will be distributed to AZERO stakers and ecosystem participants during the four (4) rounds of this campaign. These Drops will then be redeemable for CMN Tokens. The exact amount of Drops you’ll receive will be based on your 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.
To calculate your daily stake, both direct nominations and pool nominations are taken into account. For users engaged in both direct and pooled nominations, the sum of all nominations will be taken into account. Community validators are eligible based on self-stake, but it’s important to note that the self-stake of Aleph Zero Foundation validators is excluded from the Drops.
The Intro Drop—or where the fun begins
During Common AMM’s Mainnet launch, the Intro Drop will be distributed. You’re eligible if you’ve been staking AZERO at any time over the last 6 months and you’re also staking at the time of the launch. Your reward is calculated based on your “Effective Stake”.
Here are two examples that will give you an idea of how the Intro Drop–and other Drops based on effective stake–work. For simplicity, we’re assuming that the staking rewards are not compounded.
Case A: a user stakes the same amount of AZERO for 6 months before the Intro Drop snapshot.
- Stake: 10,000 AZERO
Period staked: 6 months (full 182 days) - Effective stake: 10,000 AZERO
- Intro Drop: 20,000 Common Staking Drops
Case B: a user stakes 10,000 AZERO initially, but unstakes 3,000 AZERO after 100 days.
- Stake and Period staked: 10,000 AZERO for 100 days; then 7,000 AZERO for 82 days
- Effective Stake breakdown:
- Full Period Average Daily Stake: ~8,648 AZERO
- Stake at Snapshot: 7,000 AZERO
- Effective Stake: 7,000 AZERO
- Intro Drop: 14,000 Common Staking Drops
Seasons 1 to 4 and the entire Common Staking Drops rewards schedule
There are different reward rates according to your amount of staked AZERO–and they break down as follows:
- Intro Drop: Happened at Mainnet launch; considering 6 weeks before the launch, offers 2 Common Staking Drops per 1 AZERO.
- Round 1 Distribution: Happens on July 2nd, 2024; takes the Effective Stake from 6 weeks after the release; 1 Drop per AZERO.
- Round 2 Distribution: Happens on August 13th, 2024; takes the Effective Stake from 6 weeks after Round 1 Distribution; 1 Drop per AZERO.
- Round 3 Distribution: Happens on September 24th, 2024; takes the Effective Stake from 6 weeks after Round 2 Distribution; 1 Drop per AZERO.
- Round 4 Distribution: Happens on November 5th, 2024; takes the Effective Stake from 18 weeks after Round 1 Distribution; 3 Drops per AZERO.
If you’re staking AZERO from any time during Round 1 until Round 4 Distribution, you’ll participate in all the Drops!
All drops are calculated based on your “Effective Stake” of AZERO, with different time frames according to the above schedule. Notice that Round 4 lasts for 18 weeks and will begin after Round 1 concludes.
Your Common Drops will be redeemable for CMN tokens after the TGE. The redeem ratios for all Drops will be revealed after Round 4 concludes!
Thanks for being with us thus far! Now you know everything there is to know about the initial Common AMM launch and Drops initiative.
But wait…
Yeah, there’s a bit more. Maybe a bit more than a bit more. There’s still the OG Drop. The mysterious Lucky Drop.
And then—the Common LP Drops (CLDs).
As you might expect, Common is a community-oriented project with tokenomics to reflect that. We all appreciate how patient our community is, and it doesn’t go unnoticed!
Stay tuned!
You can check the amount of your Common Drops on the explorer.
