Phase 6 - Deep Freezing SOY
So far, the SOY Finance airdrops have met with great success and have attracted users from DeFi systems such as Uniswap, SushiSwap, 1Inch, and PancakeSwap. Now, we have reached Phase 6 of our airdrop roadmap—the time to reward Callisto Network users and holders.
To do so, we will airdrop 3 000 000 SOY tokens to the Callisto Network community.
The incentive behind this airdrop is twofold.
- First: To reward long-term Callisto Network investors.
- Second: To increase SOY token decentralization by expanding its user base.
In 2018, Callisto Network introduced a passive-income mechanism called Cold Staking, available through the most popular crypto wallets.
Today, the community has locked more than 40% of the Callisto Coin (CLO) circulation supply into Cold Staking, showing its great popularity.
Therefore, it seems logical to devote the sixth phase of our airdrop to Cold Stakers.
How to Enter the Airdrop?
The airdrop will be performed in two phases, with 1 500 000 SOY tokens distributed in each phase.
The first snapshot of the first phase will be taken on 30/04/2022 (30 Apr 2022) at 23:59.
A second one on 31/07/2022 (31 Jul 2022) at 23:59.
To be eligible to receive the airdropped SOY tokens, a user must be an active Callisto coin Cold Staker (V2) during that period.
An active Cold Staker is someone who has locked at least 10 CLO into the Cold Staking smart contract (V2), independently of the time of his deposit, and the number of rounds selected.
Users who are already Cold Staking, and from whom the locking period has not expired, are considered active users.
Users with higher deposits that are locked into longer staking periods will receive higher rewards.
Note: During the weeks preceding the Airdrop, we noticed unfair practices to take advantage of the airdrop mechanism and decided to increase the minimum to 10 CLO to prevent fraud and guarantee the highest degree of fairness.
This document has been edited to reflect these changes.
The rewards pool for each phase will be distributed based on two parameters:
- 1.The user’s deposit (cold staked CLO coins) and,
- 2.Their locking period (multiplier).
The table below details the SOY token distribution based on the amount of CLO coins locked in the Cold Staking.
Note: In the above table the interval notation is used.
- The parenthesis “(” in the left-hand side parenthesis indicates values larger than.
- The right-hand side bracket “]” indicates values smaller or equal than.
Therefore, the interval (1 000 000, 2 000 000] includes all the CLO deposits larger than 1 000 000 and smaller or equal than 2 000 000 coins.
The “SOY tokens pool” column presents the amount of tokens to be airdropped.
The distribution will be performed in a manner similar to the current Cold Staking reward distribution, in which airdrop multipliers are directly related to the number of locking periods selected by the user when staking tokens.
Meaning, the longer a user locks coins in the Cold Staking smart contract, the higher the multiplier.
The multiplier values based on the number of locking periods are summarized in the following table.
Multiplied value according to the number of rounds.
The 3 million SOY tokens of the Cold Staking Airdrop will be distributed in 12 waves of 250 000 tokens per wave.
The distributions will start 180 days after the snapshots (30 April 2022 & 31 July 2022) and will continue with one wave, every two weeks, until all the tokens have been distributed.
Token distribution will be random, and each eligible user will only receive one airdrop per each airdrop phase.
- The snapshots’ results will be available 5 days after each snapshot.
Details for SOY’s next and final airdrop – its seventh airdrop – will be announced on 25/08/22 (25 August 2022).
“Cold staking” is not related to proof-of-stake or any consensus mechanism. Cold stakers neither generate blocks nor confirm transactions. It is simply a method of locking coins into a contract and earning rewards for doing so.
The cold staking contract collects 40% of all mining rewards and distributes it to the cold stakers in direct proportion to their holdings.
Cold stakers earn a passive income simply by locking their CLO coins into the smart contract for a specific period of time. This makes cold-staking a much safer and eco-friendly way to earn passive income with cryptocurrencies.
Backed by the most experienced crypto-security experts, SOY Finance is a DeFi platform for easy and safe trading. Newbies and casuals alike will appreciate the intuitive technologies, such as “1-Click Swap”, while traders will value the high-level security features with a dedicated token standard and a safelist for audited and insured tokens.