Pre-Babylon Liquidity Campaign
SPLASH is the official pre-Babylon Liquidity Campaign for the Ociswap cDEX that will run for an indefinite period of time.
The SPLASH campaign is a replacement of the regular staking airdrops and is designed with a threefold objective:
- 1.to further incentivise providing liquidity to our cDEX pools;
- 2.to distribute the OCI governance token to those who actively support the project; and
- 3.to improve price stability in the Radix Ecosystem.
The campaign is broken up into SPLASH cycles that run from Monday (0:00 UTC) to Sunday (23:59 UTC). During each of these weekly cycles, a fixed amount of OCI-tokens will be split among the participating liquidity providers (LP). To see the reward amount and a timer for the current week, click here.
- Hold ≥ 500 OCI in the wallet that contains the LP-tokens throughout the Splash week.
- Hold any of the Ociswap cDEX LP-tokens
The SPLASH reward will be distributed proportionally after every cycle. This means that the amount each individual receives, is based on the relative value of the LP-tokens they held when compared to the total amount of liquidity provided by all valid participants.
It's possible to join a cycle that is already in progress. Your cycle reward is then also determined by the duration you participated in that cycle.
Participants can obtain a bonus percentage to enhance the weight of their LP-value in the cycle reward calculations and effectively increase their share of the pot. The currently available bonuses are: • Flavor of the Week: Acquire a bonus for providing liquidity to a specific pool. These pools can be found on the landing page. • Liquidity Veteran: Build up a bonus percentage by providing liquidity to the same pool for an extended period of time. This bonus incrementally increases at a rate of 10% per complete SPLASH cycle (Monday to Sunday) and is capped at 100%. It's important to highlight that the additional weight of the Veteran bonus is pool-based, so the bonus that you acquired in the OCI/XRD pool doesn't affect your LP-tokens from the DPH/XRD pool.
Scenario 1: - Bob added liquidity to the OCI/XRD pool before cycle 1. We will call this 'Batch A'. - If we fastforward to cycle 4, this batch of LP-tokens will have completed three full cycles (cycle 1, 2 and 3). - So for the calculation of cycle 4, Batch A will weigh an additional 30%. Scenario 2: - Bob added liquidity to the OCI/XRD pool before cycle 1. We will call this 'Batch A'. - Bob added more liquidity to that OCI/XRD pool during cycle 2 ('Batch B'). - Batch B has its own Veteran timer. - In cycle 4, batch B has only completed one full cycle (cycle 3), so it will weigh an additional 10%. Batch A will weigh an additional 30%. Scenario 3: - Bob added Batch A (OCI/XRD) before cycle 1 and Batch B (OCI/XRD) during cycle 2. - In cycle 5, the OCI/XRD pool is marked as flavor of the week (+25%). - Batch A has completed 4 full cycles -> (10 * 4) + 25 = 65% extra weight. - Batch B has completed 2 full cycles -> (10 * 2) + 25 = 45% extra weight. Scenario 4: - Bob has two separate batches of liquidity in the same pool (Batch A and B). - Bob decides to partially remove liquidity from the liquidity pool. - First in, first out: the removed amount gets subtracted from Batch A.
The Veteran bonus is tracked per batch of provided liquidity and can be (partially) lost or reset if:
- the liquidity is (partially) removed
- the LP-tokens move between wallets
- the LP-wallet no longer contains 500 OCI
A more concise and visually appealing explanation of Ociswap SPLASH can be found on the dedicated Landing Page.
Ociswap reserves the right to adjust the requirements and the weekly reward throughout the entire SPLASH campaign. These adjustments will not be made during an ongoing splash week.
Until Babylon, the liquidity pools are centralised and thus in custody of Ociswap. If you encounter issues, please contact us at [email protected]