How many StakeDrop wallets are there, and how many have registered?
There are currently 537,706 wallets, with 356,942 registered. If you haven’t registered yet, we need to know your address you would like your airdrop delivered to so please register at airdrop.pryzm.zone.
What is StakeDrop, and how can I benefit from it?
StakeDrop allows you to earn additional yield on staked assets such as ATOM, TIA, DYM, INJ, OSMO, and LUNA. For every dollar of commission paid to a Pryzm validator, you earn 10 Pryzm. Why earn just ATOM staking rewards when you can earn ATOM + PRYZM?
When does StakeDrop end?
StakeDrop is an ongoing event. Snapshots to calculate the amount of commissions received from delegators are taken weekly. We will communicate well ahead of time when StakeDrop Season 1 is ending.
When will StakeDrop tokens be available?
Initially, there was a vesting period required for StakeDrop tokens. However, we are excited to share that we have found a solution that will allow us to airdrop tokens to participants as soon as the Pryzm token goes live.
When is the Pryzm token expected to go live?
Pryzm has produced its genesis block and is in the process of connecting to other blockchains. After power testing and the full public launch of the blockchain, which includes our early pioneers campaign to reward early users and referrers, the Pryzm token is expected to launch. This process is estimated to take 6–8 weeks. Participants in these campaigns will earn additional rewards. Those familiar with crypto understand that precise timelines can be challenging to establish, especially for a fully-featured appchain. However, please be assured that our team is working diligently and at full capacity to ensure a successful launch. Post Pryzm token launch we expect to launch StakeDrop season 2.
Can StakeDrop participants refer others to Pryzm and earn additional rewards?
Yes — Pryzm thrives on an active community that engages in trading and tokenizing yield. StakeDrop participants will be rewarded for introducing new users to Pryzm’s benefits. When you refer someone, they will have the option to enter your Twitter handle in the future. This means you can start referring people now, and both you and your referrals will earn rewards once they begin using Pryzm.
What are the additional benefits for StakeDrop participants?
As a token of gratitude for your support, we’re exploring multiple benefits:
- Badge of Honor: We are in the process of creating a non-transferable badge of honor for your wallet. This badge will showcase your status as an original supporter (OG) of pre-launch projects, making it clear to future airdropping entities who the pillars of The Interchain are.
- Meme Token with Utility: Look forward to receiving our distinctive meme token, which comes with practical utility. It can be used for transaction fees (gas), yield trading, and other special functions — stay tuned for the reveal! Follow @refractedbeasts for updates.
- Future Airdrops: As a member of our community, you’ll be eligible for airdrops from upcoming products developed by @Refracted_Labs such as @Forwards_Zone. We’re excited about the innovative applications being built on yield tokens and liquid governance.
- Exclusive Access and AMAs: Get early access to new content, products, and features. We’re also eager to initiate exclusive Ask Me Anything (AMA) sessions with our StakeDrop participants to engage with your insights and feedback.
Can you provide an example to illustrate how the formula works?
Imagine you delegate $1000 with annual staking rewards of 20% and a validator commission of 5%. The calculation of your earnings and commissions is straightforward. Annually, you would pay $10 in commissions, which is calculated by taking the 20% reward on your delegated amount ($200) and applying the 5% commission rate. Here’s the breakdown:
- Annual staking reward on $1000 at 20%: $200
- Validator commission at 5% of your reward: $200 * 5% = $10
Consequently, you can expect to earn 100 PRYZM annually or approximately 1.92 PRYZM per week, since you receive 10 PRYZM for every dollar of commission paid. To estimate your yield in monetary terms, consider your estimate for Pryzm token’s price, which has a genesis supply of 1 billion. For example, if the Pryzm token is priced at $1, your annual earnings would be $100, which translates to a 10% yield. This means that in addition to the 20% staking rewards, you are effectively earning an additional 10% in PRYZM rewards. Moreover, this is in addition to other benefits that accrue to StakeDrop holders.
Are there rewards for transferring my assets to Pryzm and utilizing them on the platform?
Yes, by moving your assets to Pryzm, you’ll be able to mint Liquid Staking Derivatives (LSDs), create and trade yield tokens, and exercise liquid governance powers, among other functionalities. We understand that for all tokens, except ATOM (which uses the Liquid Staking Module), there is a 21-day unstaking period. We are eager to gather feedback from our StakeDrop participants regarding the types of incentives and rewards that would encourage you to bring your assets to Pryzm. Our goal is to offer compensation that effectively balances out the absence of staking rewards during the unstaking period.
Why are you conducting StakeDrop?
At Pryzm, we’re committed to inclusivity and fairness in the distribution of our tokens. We believe that the community, which is the backbone of any project, should have the opportunity to earn tokens before the launch. While private sales can provide initial funding for teams, they often result in early investors with low-cost tokens offloading their tokens to the unsuspecting community. StakeDrop is our innovative approach to change this dynamic. It’s designed to empower over 500,000 community wallets with the chance to participate and benefit directly from the growth of Pryzm rather than concentrating tokens in the hands of a few VCs. Our vision is to create a future where everyone, regardless of their status has the same equal opportunity to be a part of Pryzm. This approach fosters greater decentralization, prevents large, sudden token unlocks, and leads to a more equitable ecosystem for all participants.
