AIRDROP FUND TO TACKLE PRICE CRASHES: THE NEW WAY TO REWARD LONG-TERM INVESTORS
Dear DEFO Community,
Today, we’re glad and very excited to announce our partnership with Ferrum Network!
They will enable us to offer a great additional feature to all DEFO presale investors. Apart from being a well-known staking services firm and a trusted partner, the reasons why we decided to partner with them are the following:
- As security is one of our core concerns, a bug bounty program and subsequently a full audit of our smart contracts and platform will take place. These steps are expected to be finalized by mid-December. However, during this period, we still want to offer a secure and reliable staking solution to provide an investment tool as soon as DEFO will be listed. Based on that, we considered that the best way to achieve this was to launch a staking platform to be implemented by Ferrum Network.
- Nowadays, Airdrop’s strategies have become a common way for companies to distribute tokens to users. However, most of them are associated with immediate price drops, with beneficiaries selling their tokens to cash-in their rewards as soon as they receive them. As you probably all know, our Airdrop fund amounts to 25% of the total supply and will be released at a monthly rate of 10% over 10 months by LID smart contracts. Unlike most other airdrop funds, our fund has always been designed to reward long-term holders and avoid price dumps (especially listing dumps). To achieve this objective, each monthly release will be distributed to investors who have held their DEFO tokens for at least 1 month. Moreover, to avoid any listing dump, we wanted to distribute the airdrops only to presale investors to reward them for their trust and early investment in our project.
In this regard, we have worked on many different solutions (snapshot, manual airdrop, etc). Following our meeting with Ferrum Network, it became clear that the best and safest way to distribute these airdrops was to do it through staking pools implemented by Ferrum Network.
Herein-below is a summarized list of the key settings which will be applied to these pools:
- These will be staking pools with a lock-up period of 30 days (no early withdrawal will be allowed);
- These will be private staking pools where only presale investors will be able to stake their DEFO by getting their wallet whitelisted;
- Only presale investors who have not sold any tokens will be able to get their wallet whitelisted;
- Each month, rewards and staked tokens will be returned to Presale investors and they will have the choice to stake again or sell part of their tokens;
- Again, all future pools will be private pools only available to presale investors who have staked their tokens in each of the former monthly pools. Therefore, unless every presale investor stakes all his tokens into each monthly pool, the APY will continuously increase over the 10 months as the monthly rewards will be constant and the stakers are likely to decrease.
We would like to kindly thank you once again for your interest in our project. Should you have any questions or comments, we remain at your disposal on our various channels detailed below.
The DefHold Team