A major event is fast approaching for ASTRO holders amid the rising ASTRO Wars. This is an opportunity to stack boosted ASTRO staking rewards and join the battle through early participation in Equinox, a convex-inspired governance aggregator built on top of the Astroport DEX.
The Equinox Lockdrop is designed to bootstrap ASTRO deposits by allowing participants to lock their tokens, effectively accumulating significant amounts of vxASTRO and concentrating voting power for the protocol.
While the Lockdrop serves to boost initial ASTRO deposits and offers upfront rewards to ASTRO/xASTRO holders who commit their tokens in Equinox Vaults, it also acts as a key liquidity driver for Astroport.
As tokens are locked, the circulating supply decreases, stabilizing liquidity pools and reducing slippage. This enables smoother trading, attracting more users and increasing volume. Higher trading activity invites new token launches, solidifying Astroport's position as a premier hub in the Neutron ecosystem.
To kick off this exciting journey and further ignite the ASTRO Wars, Eclipse Fi will hold a lockdrop event starting on the 21st of October.
You can read more about the Equinox platform in this article here.
Key Dates
- Lockdrop Launch - Phase 1 (Deposit Phase) Commences: 21 OCT 2024 · 10 AM UTC
- Phase 2 (Withdrawal Phase) Commences: 30 OCT 2024 · 10 AM UTC
- Lockdrop Ends: 01 Nov 2024 · 10 AM UTC
- Equinox Vaults Launch: Prior to 11th NOV 2024 at 10am UTC (TBC)
Equinox Lockdrop Overview:
- The Lockdrop event will commence on 21 OCT 2024 · 10 AM UTC for a total of 11 days.
- 21 million ECLIP tokens or 7% of ECLIP supply allocated as upfront emissions in the Lockdrop. Split 60-40% bECLIP to ECLIP. (bECLIP is 12 month staked ECLIP).
- Boosted Rewards Multipliers apply to Time Locks, increasing based on the lock duration options of 1, 3, and 6 months.”
- User has the option to deposit in one of the two vaults: Single-sided Staking & LP Vaults
Rewards for Participants during the Lockdrop
- Boosted ASTRO staking rewards during the Lockdrop will be distributed upfront to depositors in the form of ECLIP and bECLIP.
- Boosted Reward Multipliers for time-locked deposits
- There will also be separate reward pool for both vault: Single-sided and LP Vault. Details will be confirmed before the Lockdrop commencement.
Rewards for Participants after the Lockdrop
- Ongoing Emissions: Participants will continue to receive emissions in the form of ECLIP/bECLIP, and eclipASTRO or ASTRO
- Depositors in single-sided vaults will get a mix of eclipASTRO and ECLIP/bECLIP.
- Depositors in eclipASTRO-xASTRO LP vaults will receive a mix of ASTRO and ECLIP/bECLIP, which works to strengthen the peg between eclipASTRO and ASTRO, ensuring liquidity stability and efficient trading on Astroport.
- Timelocked Depositors:
- Depositors in timelocked positions must wait until the lock period ends to unlock their eclipASTRO.
- During the lockdrop, rewards will be distributed upfront based on time-locked deposits, and after the lockdrop, rewards will continue to accumulate for participants with time-locked positions, incentivizing long-term commitment post-lockdrop.
How does the Lockdrop work?
The Equinox Lockdrop will have two phases:
- Deposit phase: This will take place for the first 9 days, where deposit and withdrawals will be allowed freely.
- Withdraw-only phase: The withdraw-only phase begins after the initial 9 day deposit period and lasts for 2 days. During this time, participants are only able to make withdrawals, and no new deposits are permitted.
Let’s unpack each of the phases:
Stage 1 - Deposit Phase
The deposit phase will commence on 21 OCT 2024 · 10 AM UTC
- Participants have the option to deposit in two ways:
- xASTRO or ASTRO Single Sided Vault
- eclipASTRO-xASTRO LP Vault.
- Participants can freely deposit and withdraw as many times as they like without any penalties
- Both vaults offer flexible options and time-lock periods ranging from 1, 3 and 6 months. Participants share from a total rewards pool, and the longer the lock, the higher the rewards multiplier, which increases their relative share of the pool.
At the conclusion of the lockdrop, 100% of the deposited amount on the single-sided vault will convert to eclipASTRO and staked. Whereas, the LP vault converts 50% of the deposit to eclipASTRO and pairs it with the remaining 50% of your xASTRO, this generates an LP token that is then staked on Astroport.
Stage 2 - Withdraw Phase
The withdraw phase will commence on 30 OCT 2024 · 10 AM UTC and run over 2 days (48 hours).
- Deposits are not permitted in this phase.
- A maximum withdrawal of 50% is permitted for the entirety of Day 1. Starting from Day 2, the allowed percentage gradually diminishes, reaching 0% by the conclusion of the Withdrawal Phase.
- Only one withdrawal is allowed per position.
What happens after the Lockdrop?
On the Mainnet Launch:
- Deposits will be re-enabled for both Single-Sided and LP Vaults. Although, the opportunity to earn increased rewards through the Lockdrop has ended.
- All deposits will be converted to eclipASTRO.
- Depositors can claim their ECLIP and bECLIP rewards.
- Depositors who participated in flexible vaults will have the option to withdraw their eclipASTRO, while timelocked participants will have to wait until the end of their timelock.
- "Ongoing" ECLIP and eclipASTRO rewards for single-sided vaults, or ECLIP and ASTRO rewards for LP vaults.
- Participants receive amplified staking rewards in form of eclipASTRO (equivalent to ASTRO), ECLIP and bECLIP.
Why lock your ASTRO / xASTRO with Equinox?
Depositing with Eclipse Equinox is advantageous for these reasons
- Boosted ASTRO Rewards: Unlock enhanced rewards along with additional ECLIP incentives.
- Support ASTRO and Neutron Growth: Participating indirectly strengthens Astroport’s liquidity moat and Neutron’s standing as a launch hub, driving demand for liquidity and incentives.
- Control Voting Power: Stake your ECLIP/bECLIP incentives to gain voting power and earn bribes while continuing to earn boosted rewards.
- Limited-Time Opportunity: Take advantage of the lockdrop for exclusive boosted rewards.
- Activate Your ASTRO: Put your ASTRO to work in the Astro Wars and help strengthen Neutron's position as a liquidity and launch hub.
To understand Equinox in more detail, we encourage you to read this article here.
Please note: Locking your ASTRO or xASTRO tokens in Equinox permanently converts them to eclipASTRO, making this process irreversible. Once locked, these tokens cannot be withdrawn or transferred, but redemption is possible through the LP pool on Astroport for liquidity access. Similar to protocols like Convex, converted tokens remain in their new form. We encourage participants to carefully consider the long-term implications before committing to the lockdrop.
