To facilitate the upcoming Decentralised Governance infrastructure, all community members who have interacted with QuipuSwap DEX were rewarded with a fair share of QUIPU Governance tokens. QUIPU tokens will eventually be used in QuipuSwap governance and as a means of payment for future additional QuipuSwap services.
What is QuipuSwap?
QuipuSwap is a major open-source Tezos DEX (decentralized exchange) boasting over $25 million TVL with an average daily growth of $300,000. Since the platform’s release in March 2020, over 270,000 transactions within more than 140 liquidity pools have been conducted.
A total supply of 10 million QUIPU tokens will be issued, of which 71% will go to community incentives.
The first stage of the community incentive program commenced in the form of an airdrop on August 26, 2021. 3% of the total token supply (300,000 QUIPU) was distributed among the QuipuSwap participants.
Each account that ever interacted with QuipuSwap received a guaranteed reward of 5 QUIPU tokens. The remaining reward pool was split between liquidity providers and traders according to their all-time activity on the platform.
You can read more about the token distribution rules on the official blog.
The airdrop is the first step in launching the Governance section on QuipuSwap. More tokens will be distributed via farming and other activities in the future.
How to Get the QUIPUs?
QUIPU tokens were automatically sent to all wallets eligible for a reward. No additional action is required on the user’s side.
About MadFish Solutions
Madfish.solutions is a blockchain technology company that concentrates on developing open-source projects for the DeFi ecosystem. Some of their projects include Temple wallet, QuipuSwap, and Yupana.Finance.