Osmosis AMM $OSMO Token Airdrop Is Live - Nabbed Nearly 500 $OSMO Tokens FREE! (~$1k USD)

in LeoFinancelast month (edited)

Hey everyone!

Just wanted to share an airdrop that I stumbled upon the other day (funny enough, through a post here at LeoFinance!)

After checking their airdrop page (which you can still do yourself at this link: https://airdrop.osmosis.zone) I was quite pleased to see that I had nearly 500 OSMO tokens waiting to be nabbed up! I had no idea that staking ATOM back in February (albeit, not a very large amount) would net me some extra-juicy airdrop rewards.

At the time of writing, each OSMO token is worth $1.76 - a few hours ago when I claimed my airdrop, they were going for ~$1.96 each. I plan to stake and hold these long term - I made the mistake of dumping everything back when the Uniswap airdrop happened (I ended up being able to claim twice for a total of 800 tokens, and fucking dumped them all the same day for $3.50 each - fast forward some months and then they're worth $30+ /cry).

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They aimed to truly reward those that were STAKEHOLDERS in the Cosmos network by running a "fairdrop"- not just whales, and definitely not just exchange-held tokens. I thought this was a pretty unique approach to rewarding stakeholders, which are truly the backbone of any great blockchain.

The team over at Osmosis held a few-hour launch party/live stream earlier, where they explained plans for Osmosis (a pretty slick new approach to AMM's, which I'm definitely keeping an eye on!), as well as a walkthrough for claiming your airdropped tokens.

The way their airdrop works is as such:

Download their Keplr wallet - set up your seed AND BE SURE TO BACK IT UP! This wallet is a browser extension (like MetaMask) and supports various currencies, including ATOM. Be sure to add your secret phrase to the wallet from whatever wallet that you were staking ATOM in (as long as you've found that you're eligible for the airdrop).

Visit their site, https://app.osmosis.zone/, and connect with the Keplr wallet.

Head on over to their airdrop claim page, found here: https://app.osmosis.zone/airdrop

They've broken up their airdrop claim process into 5 separate "missions" - an immediate 20% is released simply by connecting. The remaining 80% is released by completing various simple tasks (like staking at least 1 OSMO, adding a small amount of liquidity to a pool of your choice, etc).

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Follow the "missions" and claim your free loot! Was definitely nice to wake up today to a free nearly $1k USD :D I've staked nearly all of my OSMO and intend on letting it grow until it hits a nice, juicy, $10-$20 each!

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Nice one, I landed a similar amount of OSMO to you. Staked most, and added a little to LP as a test run. Staking rewards drop once a day, which is interesting. Looks like it'll be a nice return early on, if the price hold up.

There is another airdrop coming soon, based on the same snapshot taken back in february. JUNO is another new chain launching, and we will get that airdrop also.

Well done - hang on to those OSMO, I think this dex will do really well.

NFA DYOR

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Interesting! I had no idea about JUNO either. And congrats on the OSMO as well - always a good day when you wake up to some free money :D

Do you happen to have a timeline for the JUNO airdrop?

I don't know much about JUNO, except that its coming soon, and a smart contract chain for cosmos.

Skimmed through this article helped a bit, but not real sure what to expect from it yet.

Did you like your staking rewards so far for OSMO? Pretty nice APR to begin with, not sure if I should write a post and advertise it, or keep it on the low down and hope people don't notice a 2000% APR on staking.

Will no doubt drop quickly as more people stake their OSMO. LP rewards will start in a few days, should be interesting also.

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The rewards were fantastic earlier today. After staking, within I'd say 2 hours, I had earned ~34 OSMO - that number has now drastically reduced by a factor of probably 1000x haha.

Curious to see how the LP rewards play out and how lucrative they are, overall I'm very excited about this new platform (and funny that I didn't even have a clue about it literally until 2 days ago!)

BTW, thanks for the share about the JUNO article - looks like we will be getting a 1:1 based on staked ATOM during the Stargate snapshot, I'm curious how much each token will be worth.

The rewards for staking are a bit strange. Instead of accumulating all the time, it hits all in one go every 24 hours. So what you are seeing is just the earnings from transaction fees, then the block rewards add on to that daily.

So check back once a day, claim and compound for best effect.

LP rewards will start big also:

... The rest is based upon the current TVL for each pool. ATOM/OSMO has the most liquidity, so we have it at 25%. For the remaining pools, we split the incentives evenly between the ATOM and OSMO pools. The AKT pools have the next most liquidity, so we add them at 25% total, split between the two 12.5% pools. After that is the XPRT pools, so its 20%, split across both. Then DVPN at 15%. Not much liquidity has arrived for IRIS or CRO, so we set them to 4% of the allocation points each. Finally, we allocated 2% to these ION things… Whatever they are…

Osmosis has capabilites for incentivizing passive liquidity. Correspondingly, 80% of the allocation points are dedicated to people who bond their LP shares for at least 1 day. 15% who bond for at least 7 days, and 5% for those who bond at least 14 days. (So if you bond for 14 days, you get the rewards for 1 day, 7 day, and 14 day)

Quote from the Governance vote to start liquidity mining rewards. Those allocations will share over 300,000 OSMO tokens per day. I'm looking into the pools and going to work out based on the TVL in each which will be most lucrative.

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OHHHH shit okay, that makes WAY more sense then. I was so confused why after 2 hours, I received a nice juicy reward and then letting it run all day/night I barely broke 0.005. Thank you for clarifying this!

As for the LP rewards, I'm still pretty noobish at this stuff (although I'm learning!) so I would definitely appreciate any insight as to what the smart move here would be - it seems like swapping from staking to LP rewards would be the correct move, at least initially, yes? Or would a mixture (say, 50/50 - 50% staking, 25% ATOM/25% OSMO for LP) be a better move?

Right on! Got like 201 OSMO! Nice call out! And yeah, definitely staking these and not pulling a UNI sell, lol...Oh and BTW...

Congrats man!

That UNI rush sell still angers me to this day :[

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And by the way… how did you live in Vegas for so long??? It’s hotter than a well diggers ass out here! Lol!

I love the dry heat! Can't stand the humidity. Please, it gives you an excuse to go to all the pools on the strips ;)

That's a big staking bonus!

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