DRF Airdrop Plan

Hi Derifiers, as Proposal #006 has been passed, we are proceeding to $DRF airdrop according to Solution 2 (A: 20%, B:10%, C: 60%, D: 10%), A%+B%+C%+D%=100%. Brokers will get 1:1 $DRF airdrop according to tester-broker relationship mapping (1 million $DRF for testers + 1 million $DRF for brokers).

We divided the airdrop plan in 4 parts, A, B, C, and D based on user types. For your better understanding and participating in the airdrop, I will elaborate the user type A, B, C, D in detailed examples respectively.

User Type A (20%)

The total prize of User Type A is 200,000 $DRF (another 200,000 $DRF for corresponding brokers). You don’t need to anything in this part. All of your behavior data is recorded on-chain and we’ll send you the corresponding $DRF based on the rating score you achieved. The higher score you achieved, the more $DRF you will receive. For example, a tester who performed more than 12 testing actions (open/close position, limit orders, stop loss & take profit, etc.) is rated 4 points and may receive N $DRF. Another tester who performed 4–12 testing actions is rated 2 points and may receive (1/2 * N) $DRF.

We will count all addresses submitted on Discord #airdrop-address channel on 11/24/2022 and match them with Trader’s Info to calculate the corresponding rewards for each tester.

User Type B (10%)

The total prize of User Type B is 100,000 $DRF (another 100,000 $DRF for corresponding brokers). This part will last 2 weeks since we will input 50,000 $DRF in reward pool per week. To participate, you only need to open positions on Mainnet and hold your positions for 2 weeks. Let’s give you an example so you can easily understand the formula.

For example, if your weekly position mining reward is 10 BUSD while all testers combined position mining reward for that week is 100 BUSD. How much $DRF will you get in the first week? 10/100 * 50,000 $DRF = 5,000 $DRF. And if your position mining reward for the second week is still 10 BUSD but all testers combined total position mining reward for the second week is 150 BUSD. Then you can get 10/150 * 50,000 $DRF = 3,333 $DRF. In short, the more positions you hold, the more shares you get; the more shares you have, the more $DRF you receive.

Claimable BUSD is your position mining reward

Starting from 10/28/2022, we will announce the statistics of position mining reward for the previous day position holding on a daily basis. The first airdrop (User Type B) will be distributed on 11/03/2022; the second airdrop will be distributed on 11/10/2022.

User Type C (60%)

The total prize of User Type C is 600,000 $DRF (another 600,000 $DRF for corresponding brokers). This part will last 12 weeks since we will input 50,000 $DRF in reward pool each week. To participate, you need to open and close positions to increase your trading volume on Mainnet.

Giving an example, you open a position of 1,000 BUSD ($100 in 10X leverage) and then close it, your trading volume is 2,000 BUSD. If you do this 10 times in the first week, then your trading volume is 20,000 BUSD. Hypothetically giving all testers combined trading volume for the first week is 100,000 BUSD. How much $DRF will you get in the first week? 20,000/100,000 * 50,000 $DRF = 10,000 $DRF. In short, the more trading volume you achieved, the more shares you get; the more shares you have, the more $DRF you receive.

Starting from 11/11/2022, we will announce the trading volume info of the previous day and issue airdrop rewards of the previous cycle on a weekly basis (11/17/2022, 11/24/2022, etc).

User Type D (10%)

The total prize of User Type D is 100,000 $DRF (another 100,000 $DRF for corresponding brokers). To participate, you simply need to actively vote for our proposals on Derify snapshot space. In addition, you need to collect as much eDRF as you can. We will distribute the reward after the 20th proposal is closed.

For instance, if your voting power is 100,000 eDRF and you voted for our proposals 20 times on snapshot, then your cumulative eDRF voting power is 20 * 100,000 = 2,000,000. Hypothetically giving all testers who voted on snapshot and their combined eDRF voting power for all 20 proposals is 200 million. Then you can get 2 million / 200 million * 100,000 $DRF = 1,000 $DRF. In short, the more cumulative eDRF voting power you achieved (number of eDRF you hold * number of proposals you voted), the more share you get; the more share you have, the more $DRF you receive.

We will distribute one-time airdrop rewards on the day when the 20th proposal closed.

I hope this article can help you better understand our airdrop plan. Thank you for your supports along our journey to success.

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