Decentralized network focused on enhancing liquidity for order book exchanges, Elixir announced the launch of its native ELX token along with an eligibility checker for its upcoming airdrop. This allows users, community members, and select decentralized finance (DeFi) participants to review their token allocation.
ELX, an ERC-20 token, plays a key role in the Elixir ecosystem by facilitating governance and securing network consensus. Traditional financial institutions managing billions in assets are already operating validators, underscoring the network’s credibility.
A 41% of ELX’s total supply is reserved for the community, ensuring that token holders influence the network’s growth and direction. The distribution includes an 8% allocation for the first airdrop, 21% for future airdrops and liquidity provider (LP) incentives, and 12% for public network security rewards through staking and delegation. Tokens that remain locked cannot be staked.
Additional allocations include 22% for the DAO Foundation, 3% for liquidity, 15% for investors, and 19% for core contributors.
The token release schedule varies by category: the initial airdrop allocation is unlocked at the Token Generation Event (TGE), with half of the future airdrop allocation unlocking at six months and the remainder at one year. LP incentives unlock gradually over four years, while validator rewards are released over 20 years, decreasing logarithmically. The DAO Foundation sees 25% unlocked at TGE, followed by a one-year cliff and four years of linear vesting. Investors face a one-year lockup, then a two-year linear vesting period. Liquidity is fully unlocked at TGE, whereas core contributors experience a one-year lockup followed by three years of linear vesting.
The Initial ELX Airdrop
Over 40% of the total ELX token supply has been allocated to the community, while 22% is reserved for the DAO Foundation. A significant portion of the airdrop was distributed to Apothecary potion holders, with the initial ELX allocation structured accordingly. Apothecary holders received 7% of the total supply, community contributors were given 0.40%, Elixir Electric Bazaar non-fungible token (NFT) holders received 0.10%, validators were allocated 0.25% as a reward for early testnet participation, and DeFi stablecoin power users also received 0.25%.
Apothecary token distribution followed a mostly linear model, with slight reductions in return rates as allocation amounts increased. Specifically, S3 potion holders received 2.75%, S2 holders got 3.00%, and S1 holders were allocated 1.25%. The first 30,000 S3 potions were distributed linearly, while any additional allocations followed a slightly reduced rate of x^(1/1.4). Similarly, the first 10,000 S2 potions were allocated linearly, with any further distributions adjusted at a rate of x^(1/1.3). S1 potion distributions remained fully linear.
Special allocation boosts were provided to certain community groups, such as Dewhales and Turtle Club members, who received a 20% increase compared to the standard 10% referral boost. Additionally, a Total Value Locked (TVL) snapshot taken on February 28th granted a 30% boost to users who had funds in the protocol at that time. However, only users with a minimum allocation of 37.5 ELX qualified for distribution.
Users can verify their eligibility by connecting their EVM address on the platform. Those who qualify will be able to manage their ELX allocation at the token launch. All airdrop recipients will initially be delegated to the ‘ElixirFoundation’ validator but can modify their delegation at any time via the platform’s “Validators” page. Withdrawals are available immediately, and after a three-month period, users will have the option to redelegate their tokens to a different validator, including their own. Those who maintain their delegation throughout this three-month network decentralization phase will see their initial ELX airdrop allocation double.
The post Elixir Rolls Out Airdrop Eligibility Checker And Unveils ELX Tokenomics appeared first on Metaverse Post.
