Pika Protocol Announces 900,000 OP Airdrop for Optimism Users
Pika Protocol, a derivatives protocol on Optimism, has recently announced an airdrop program to reward early users and contributors to the project.
Pika Protocol will distribute a total of 900,000 OP tokens with the following allocation:
- 150,000 OP for Traders: 30% of this allocation will go to early traders who used the protocol, while 70% will be reserved for future traders.
- 600,000 OP for Liquidity Providers (LPs): 20% will be allocated to early LPs, and 80% will be distributed to future LPs.
- 150,000 OP for Supporters: 10% will be given to those who have previously supported the protocol, and 90% will be allocated to future supporters.
We are excited to share Pika is ready to distribute the 900,000 OP tokens received from @optimismFND governance and here's the distribution plan: https://t.co/18F1opIj86
— Pika Protocol⚡️ (@PikaProtocol) August 29, 2022
1/n
Eligibility for 150,000 OP for Traders
For the 45,000 OP (30% of the total 150,000 OP) allocated to early traders, Pika has conducted a snapshot as of July 16, 2022. All traders who paid at least 10 USDC in transaction fees before this date are eligible for the airdrop. Traders will receive 0.306 OP for each 1 USDC paid in fees. The reward is capped at 306 OP for traders who paid more than 1000 USDC in fees.
You can check if your wallet qualifies for the airdrop [here].
The remaining 70% of the 150,000 OP will be distributed to future traders.
Eligibility for LP Airdrop
To qualify for the airdrop, LPs must have provided liquidity on Pika V2 before July 16, 2022, with a recorded loss of >20 USDC by this date. The reward rate will be 0.1786 OP per 1 USDC recorded loss.
You can check the eligibility and corresponding PnL of your wallet [here].
Additionally, 480,000 OP will be distributed over the next 6 months to encourage the ongoing development of the protocol, at a rate of 80,000 tokens per month, starting next week. You can provide liquidity to receive these rewards.
Project Grants
A grant of 150,000 OP will be awarded to projects built on Pika, including bounties, tools that have supported the project, such as Dune Analytics and Zapper.
Rewards for Project Builders
Community members who have volunteered to build, contribute, and support Pika will receive 10% of the total grant (15,000 OP). The list of recipients has been specified by Pika.
Additionally, as mentioned above, Pika will reserve 135,000 OP for future rewards for builders.
Are you eligible for the airdrop? Let us know in the comments! Also, don’t forget to engage with and contribute to the project for more potential airdrop rewards in the future.
