Just 2-weeks ago, the InvArch Network sent a wave of hype & excitement across the Polkadot ecosystem after announcing that 20m VARCH would be airdropped to those who stake at least 50 DOT or use an equivalent sum of a DOT liquid staking tokens (LSTs) across various parachains.
Today, the InvArch team is excited to announce that a total of 20m VARCH will not be airdropped — and instead, a total of 40m VARCH will be airdropped across the Polkadot ecosystem!
The 40m VARCH will be split evenly along two qualifying tracks: 20m VARCH will be airdropped over the Relay Track & 20m VARCH will be airdropped over the Parachains Track.
Those who complete qualifying activities within each track will be rewarded separately from each track, as each track is akin to an individual pool of rewards. This means that if a single account, for example, stakes 50 DOT on the Polkadot relay chain while also staking 25 DOT on Bifrost Finance for vDOT, they would qualify for two different airdrop allocations — one for each track.
The InvArch team will be responsible for taking a snapshot of DOT staked on the Polkadot relay, whereas teams from qualifying projects will be responsible for taking a snapshot of the respective & necessary balances of assets on their networks.
Without further ado, it’s time to dive in, explore the Relay & Parachains Tracks, and review the qualifications to earn a share of the 40m VARCH airdrop!
The Relay Track
20,000,000 (20M) VARCH tokens will be distributed linearly to accounts that stake DOT on the Polkadot relay. A minimum of 50 DOT must be staked to qualify, and the linear distribution of VARCH will flatline at the 100,000 staked DOT mark.
This means that someone with 1,000 DOT staked will be airdropped approximately 10x more than some with 100 DOT Staked; however, someone with 1,000,000 DOT staked will be airdropped the same amount as someone with 100,000 DOT Staked.
This is designed to 1) reward those who help to secure the network by validating blocks and/or staking their DOT, 2) encourage larger & longer economic conviction in Polkadot among participants, and 3) preserve a rewarding experience by limiting how much of the airdrop that large accounts (whales) can absorb.
Staking Methods
DOT that is staked via wallets that allow users to stake DOT on Polkadot directly through them, such as Nova Wallet, Talisman, & SubWallet, qualifies towards the ecosystem Relay Track airdrop.
DOT staked via the Polkadot Staking Dashboard, in nomination pools, by validators, through the Polkadot.js app, or using a Ledger device qualifies towards the ecosystem Relay Track airdrop.
At the time of this article’s writing, a minimum of 250 DOT is required to stake directly toward a validator and ~564 (a rising number) to earn any rewards; however, a minimum of just 1 DOT is all that is required to stake using a staking pool. If you have at least 50 DOT but less than 600 DOT to stake, using staking pools via Talisman, Nova Wallet, or the Polkadot Staking Dashboard is encouraged.
Note on staking: If you have at least 50 DOT but less than 600 DOT to stake, you may also stake via parachains & dApps for liquid staking tokens (derivatives), which will qualify you for rewards airdropped through the Parachains Track (explored in the next section below).
Please remember that DOT staked through a centralized exchange (CEX), such as Coinbase, Kraken, Binance, or similar centralized custody services, will NOT qualify for the airdrop.
The Parachains Track
20,000,000 (20M) VARCH tokens will be distributed to every account staking DOT on qualifying parachains & dApps, utilizing DOT liquid staking tokens (DOT LSTs) within qualify protocols, or using DOT for qualifying actions on specific parachains. To qualify, a minimum sum equal to 25 DOT must be utilized within any accepted activity.
This means that at a minimum sum of 25 DOT, or 25 DOT or more’s worth of DOT LSTs must be utilized within a single activity for the activity to qualify as complete — staking 30 vDOT on Bifrost will count; however, staking 10 DOT each on Bifrost, Composable, or Acala (30 DOT in total) will not qualify towards the airdrop since a minimum of 25 DOT is not being used within any single network or activity.
This is designed to 1) reward those who utilize DOT & its LSTs as a utility across various parachains & dApps, 2) help ignite greater activity & the utilization of DOT across the ecosystem, and 3) incentivize the exploration & usage of projects that feature native utility involving DOT & its LSTs
Featured Protocols & Activities
Holding a DOT LST balance that is equal to at least 25 DOT at the time of the snapshot will reward 1 point. Accepted activities & tokens are:
- Bifrost Finance — Stake DOT for vDOT.
- Composable Finance — Stake DOT for LSDOT.
- Acala — Stake DOT for LDOT.
- Euphrates (on Acala) — Stake DOT for tDOT.
- StellaSwap (on Moonbeam) — Stake DOT.xc for stDOT.
Note on LSTs: Multiple LST balances worth at least 25 DOT that are spread across multiple chains will only yield 1 point for completing an LST’s issuing chain’s respective liquid staking activity.
For example, holding vDOT worth at least 25 DOT on HydraDX & no vDOT on Bifrost will earn 1 point through the Bifrost Finance activity just as holding 25 vDOT on Bifrost would; however, holding a qualifying sum of vDOT on HydraDX plus another qualifying sum of vDOT on Bifrost will only earn 1 point.
Utilizing a balance that is equal to at least 25 DOT at the time of the snapshot will reward 1 point. Accepted activities & tokens are:
- HydraDX — Yield DCA using vDOT. (100 vDOT minimum required)
- Interlay — Lending/Collateral using DOT/vDOT.
- Zeitgeist — Place Predictions using DOT.
Note on vDOT: vDOT used within an activity counts towards both that respective activity in addition to the Bifrost Finance activity.
For example, a qualifying sum of vDOT in the Yield DCA feature on HydraDX will reward 2 points: 1 point through the Bifrost Finance activity for holding vDOT worth at least 25 DOT on HydraDX. 1 point through the HydraDX activity for using the same qualifying sum of vDOT in the Yield DCA feature.
Providing single-sided LP that is equal to at least 25 DOT at the time of the snapshot will reward 1 point. Accepted activities & tokens are:
- Bifrost Finance — Provided vDOT as single-sided LP.
- HydraDX — Provide DOT or vDOT LP to the Omnipool.
If an account qualifies for completing every activity, it will receive the maximum number of points possible—10 points. This would require the following actions to be true simultaneously (at the same time):
- Staking 25+ DOT on Bifrost, StellaSwap, Acala, Euphrates, and Composable (25+ DOT on all 5 platforms).
- Using 100+ vDOT on HydraDX via Yield DCA.
- Using 25+ DOT (or qualifying vDOT) on Interlay via lending/collateral.
- Holding a placed prediction worth 25+ DOT on Zeitgeist.
- Providing 25+ DOT or vDOT as single-sided LP on HydraDX
- Providing 25+ DOT’s worth of vDOT as single-sided LP on Bifrost.
Snapshot Details
The snapshot will take place on March 31st at 11:59 PM UTC.
As previously mentioned, the InvArch team will be responsible for taking a snapshot of DOT staked on the Polkadot relay, whereas teams from qualifying projects will be responsible for taking a snapshot of the respective and necessary balances of assets on their networks—all due within three days of the snapshot.
After the data from the snapshot has been processed & calculated, a list of airdrop allocations will be shared with the community — followed shortly by the distribution of the VARCH airdrop.
To catch the latest announcements on InvArch, individuals should follow the InvArch Network & InvArch Tinkernet accounts on X (formerly Twitter), check out the newly updated InvArch website, and don’t forget to hop in the InvArch Discord & join a community of nearly 30,000 members!
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