Update on Fee Sharing Distribution

Published by AVAX on

This article announces the introduction of Fee Sharing to the community, with the OG members being the first to benefit from it. Here are more details about the initiative.

We know you’ve been eagerly awaiting this moment for a long time, and we’re so excited to finally be able to share the news with you! In this article, we’ll be discussing the details of Fee Sharing, to bring more transparency to our community. We’ll also be giving a special shout out to our OG members, as they’ll be the first to benefit from the Fee Sharing program.

The first airdrop date is on March 6, 9:30 am UTC. It will be distributed in 6 parts, for a span of 9months.

We’ll be giving you the inside scoop on the distribution details. We believe that Fee Sharing is a great way to reward our OG members for their loyalty and dedication to our community. So, without further ado, let’s dive into the details of Fee Sharing.

Where Are We in the Process?

We’re in the process of distributing fees and have already bought back over 200k of PTP from the market. Since we did not go for buying back PTP all in one go, we will do more buybacks in the future.

OG Fee Airdrop Details

The OG fee will be distributed through LP token airdrops in several instances. And it will be collateralized to mint USP and the fee will be distributed in the form of LP-USP.

We will update the confirmed airdrop schedule here soon.

You can go to our airdrop page to claim the fee on the airdrop date: https://airdrop.platypus.finance/

Important reminder

Check the OG snapshot balance here: https://bit.ly/3YcHaI3

Reminder: Please check your vePTP balance and make sure it’s at least the same as recorded on the snapshot. You can switch to the locking model from the staking model, but ensure the vePTP balance is equal to or greater than the snapshotted balance. If you’ve unstaked PTP, lock PTP to retrieve lost vePTP.

Keep in mind that before each airdrop, we’ll check wallet balances. If the vePTP requirements are not met, you won’t be able to claim that round of airdrop, and the fees will be distributed to eligible OGs.

Update on Fee Sharing Distribution was originally published in Platypus.finance on Medium, where people are continuing the conversation by highlighting and responding to this story.


Categories: DEFI_NEWS