You can claim your Mission Two CHEQ airdrop rewards on now!

Detailed eligibility criteria for Mission Two (Stage Two)

Stage Two (under Mission Two) of CHEQ airdrops aims to reward existing community members of the cheqd network ecosystem, as well as reward new community members joining us from other Cosmos chains.

To determine eligibility for this set of CHEQ token rewards, we took snapshots of the CHEQ and OSMO chains on Reward tiers for cheqd wallet addresses associated with these accounts were then calculated based on our eligibility criteria. 

An eligible token wallet for Stage Two rewards must meet at least one of the following criteria. Each criterion counts towards its own set of rewards, and you can choose to do as many / as few as you like - but you will only get rewards based on how many of the criteria you met.

In other words, if you want to receive the maximum reward, you simply need to stake CHEQ tokens as well as participate in both liquidity pools.

Read more about Mission Two of CHEQ token airdrop and why we chose staking/LP rewards

Staking CHEQ tokens

Token wallets staking a minimum of 100 CHEQ (combined) across any set of validators on the cheqd network. There is no minimum amount to stake per validator, as only the combined total will be considered.

When was the snapshot for CHEQ staking taken?

To be eligible for the rewards, a token wallet should have been staking a minimum of 100 CHEQ on 18th March 2022 14:22:12 UTC (block height 1797104).

Are the staking amount calculated based on delegations to a single validator or multiple validators?

The minimum staking amounts above were assessed at an account-level, as a cumulative total across all validators on these chains.

In other words, an account would not have had to stake the minimum amounts on a single validator. We believe it is better to promote behaviours that lead to the decentralisation of voting power ("entropy"), rather than promoting the concentration of voting power.

Do delegations that are unbonding count?

No. Cosmos chains count unbonding delegations as outside of normal staking/delegations, and therefore they do not count. We also don't want to incentivise behaviour where CHEQ tokens are briefly bonded and then taken out from the staking/validation pool.

What if I was staking more than the minimum amount?

Rewards were calculated based on the minimum staking amounts only. If your token wallet is eligible, the CHEQ token rewards will be the same regardless of the size of your staking delegations. In other words, accounts with very large delegations do not receive higher rewards.

We hope this "fairdrop" criterion ensures that community members who have been around longer are not getting disproportionately higher rewards than new newer members. The effect of such disparities amplifies over time, as stakers who have been around longer can amplify their rewards by claiming a succession of staking rewards and/or airdrops.

Bonding to CHEQ Liquidity Pools on Osmosis DEX

There are additional rewards for token wallets that bonded a minimum amount of CHEQ tokens to specified liquidity pools on Osmosis DEX. You must bond the tokens in the liquidity pool; simply adding them to the pool is not enough. Both liquidity pools have CHEQ external incentives, as well as OSMO incentives.

  1. At least 250 CHEQ tokens (+ equivalent in OSMO) in CHEQ:OSMO LP: Bond at least 250 CHEQ tokens and an equivalent amount in OSMO in CHEQ:OSMO Pool #602.
  2. At least 250 CHEQ tokens (+ equivalent in ATOM) in CHEQ:ATOM LP: Bond at least 250 CHEQ tokens and an equivalent amount in ATOM in CHEQ:ATOM Pool #617.

When was the snapshot for OSMO Liquidity Pools taken?

A snapshot of CHEQ:OSMO Pool #602 and CHEQ:ATOM Pool #617 was taken approximately 21st March 2022 12:00 UTC. Any LP tokens in these pools must have been in a bonded/locked state.

Do unbonding LP tokens in these liquidity pools count?

No. If your LP tokens are in an "unbonding" state at the time the snapshot is taken, these accounts/token wallets will not count towards rewards.

Is adding liquidity to the pool enough or do I need to bond it?

Yes, you must bond your tokens to the liquidity pool. Once you've added tokens to the liquidity pool, you'll have an option beneath it titled "Liquidity Mining" with an allocation of Liquidity Pool (LP) tokens. You must click the "Start Earning" button and bond your LP tokens in these pools for at least 1 day up to a maximum of 14 days.

Will participation in any other liquidity pools with CHEQ tokens count?

No. Only participation in the pools mentioned above will count towards liquidity pool rewards.