🥩Staking Airdrop

All information related to staking $ZEX

Staking $ZEX and the Staking Airdrop

The staking airdrop (2% of supply) rewards token holders that indicate their commitment to Zeta’s long-term success and governance by staking their tokens within the first epoch after TGE, ending 25th July at 09:59 UTC.

Staking Airdrop

The staking airdrop will be allocated in proportion to a user’s average governance score, gZEX, over the epoch. The longer a user commits to staking their tokens and the more tokens they lock, the larger their gZEX will be. The staking airdrop will occur 28 days after TGE and will be in the form of ZEX staked as gZEX for 90 days. The airdrop is calculated according to a users average gZEX over the 28 day epoch. This will be sampled daily, if a user stakes later in the epoch they will register a gZEX of 0 for the earlier days during which they had no gZEX and as such will earn a lower share of the airdrop

You may refer to the calculation formula used below:

$$score_i=\dfrac{(\sum_{h=0}^{28\times24}gZEX_{h,i})}{28\times24}$$

$$stakedZEX_i=20,000,000\times{\dfrac{score_i}{\sum_{i}^{n}scorei}}$$

Score_i is used to calculate staker i’s share of the staking airdrop, gZEX_h_i refers to a snapshot of gZEX at each hour for staker i, and finally stakedZEX is the amount of stakedZEX allocated to staker i.

Note: Stakers require a minimum ZEX allocation of 0.001 ZEX to be eligible for the airdrop.

gZEX

gZEX is a governance score allocated to a user based on their staking activity. Principally the more tokens a user stakes and the longer a user stakes their tokens for the higher their governance score will be. It is calculated using the following formula:

$usersgZEX = (tokensLocked)*(daysRemaining/1460)^{1.5}$

Why Staking?

In the short term, staking helps establish our governance mechanisms and aligns key users with the protocol by rewarding their governance participation with boosted incentives. Governance will play an increasingly important role in Zeta’s roadmap as we migrate to Zeta X and transition to our own Layer2, which will introduce additional parameters requiring governance, such as transaction fees and validator rewards, in addition to existing elements such as market listings and incentive emissions.