Earn Fenix Rings (Our Airdrop), Blast Points & Blast Gold
Fenix Rings represent a huge 4% of the initial supply and will be given as 50% FNX and 50% veFNX at TGE.
Fenix has a points system that is represented by “Rings” that entitle you to earn the Fenix Airdrop at our token generation event (TGE). Simply provide liquidity into pools with the Blast Gold icon.
How to Earn Fenix Rings?
We will distribute Rings weekly to users who deposit liquidity into incentivised concentrated liquidity AMM (CLAMM) pools.
Rings will be given to LPs based on two parameters:
50% will be allocated based on total liquidity provided
50% to the most productive LPs who generate fees
As a liquidity provider (LP) this means two things:
The more liquidity you provide the more Rings you will receive.
The more concentrated your liquidity is, the more Rings you will earn.
As you are depositing into concentrated liquidity (CL) pools you can choose the range that your liquidity sits on either side of the current token price. The tighter the range you select, the more concentrated it is and the more fees you will generate.
By incentivising LPs to provide liquidity in tighter ranges, this creates an effective alignment between LPs and Fenix who are improving swap prices for traders and in return are earning a higher swap fee APR and points for the Blast and Fenix airdrops.
To reduce the need for users to actively manage their CL positions, we are launching with CL management (CLM) providers like Ichi who will allow you to easily deposit into incentivised pools and to sit back and earn. How much are Rings worth? The Rings APR you see on Fenix are based on a launch FDV of $5M. The final yield of the airdrop will change depending on the real launch FDV. Some potential outcomes:
How to track my Rings balance?
To see how many Rings will be distributed to your wallet, the UI will update every 8 hours to display the number of Rings distributed to your wallet, along with your accumulated total and leaderboard ranking.
How to Earn the Blast Airdrop?
Blast Points represent 50% of the total Blast airdrop and are given to wallets or contracts that hold ETH/WETH or USDB. By depositing liquidity on Fenix, this will enable you to earn Blast Points linearly over time. We will claim Blast Points via the API and will distribute these to wallets as often as possible.
Blast Gold
Similar to Blast Points which are a tokenised reward for depositing liquidity on Blast, Blast Gold (which represents the other 50% of the Blast airdrop) are given to protocols who contribute to chain growth.
On Fenix, we will distribute Gold to users and protocols who deploy liquidity on Fenix. For users, we want to reward the most productive LPs and for protocols we want to use Gold to help them to build productive liquidity. We may change the exact mechanisms that specify how we distribute Gold but our overall goal is to reward long-term alignment within Fenix.
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