Airdrop Programs: Everything You Need To Know
As Voi continues to build a truly community-driven blockchain, we’re thrilled to provide more details on the key programs that allow participants to share in the network’s growth.
All of the programs embody the spirit of fairness and inclusivity, ensuring that all participants are treated equally and benefit from the value they add to the network.
Airdrop Programs Overview
The Testnet Airdrop and Staking Program are two key initiatives that reward our community for their early contributions. All participants are treated with the same max vesting terms, will have their contracts funded on the same day and each individual has the ability to lock up their tokens to increase the bonus they receive.
Below, we’ll outline how these programs work, how tokens are managed, and how you can maximize your rewards — including taking advantage of Block Rewards.
1. Testnet Program (Completed)
The Testnet Airdrop played a fundamental role in the early development of the Voi network. 3.67% of the total token supply was allocated to this airdrop, providing incentives to participants who engaged in the incentivized testnet. It is important to note that the Testnet Airdrop has ended.
- Vesting Terms: All tokens distributed through the Testnet Airdrop are subject to a 12-month vesting period, regardless of the lockup duration chosen by participants. This means that even if a user selected a 0-year lockup or did nothing and defaulted to the 0 lockup option, the tokens will vest over 12 months. Vesting over 12 months means that participants will receive 1/12 of their tokens at the end of each month during the vesting period.
- Lockup Periods: Users had the option to lock their tokens for 0, 1, 2, 3, 4, or 5 years. The longer the lockup period, the greater the rewards, allowing participants to maximize their contribution to the network’s stability. Notably, over 55% of the airdrop allocation was committed to a 5-year lockup by the community, showcasing the strong belief in Voi’s long-term success.
- Earning Block Rewards: Once the contracts are funded on October 28th, participants can start leveraging them to earn block rewards. Tokens in the airdrop contract, including both locked and vesting tokens, can be used to secure the network and earn block rewards during the lockup and vesting periods.
2. Staking Program (Starts September 30th)
The Voi Staking Program starts on September 30th, aiming to incentivize early participation, bootstrapping DeFi, and long-term commitment. With 1.4% of the total token supply allocated to this program, participants can lock tokens in a contract and receive a bonus.
- Lockup and Vesting: Participants can lock up their tokens for a period ranging from 1 to 18 months. The vesting period is equal to the lockup duration, capped at 12 months. Longer lockup periods result in higher rewards, up to 100%.
- Earning Block Rewards: Tokens in the staking contract, including both locked and vesting tokens, can be used to secure the network and earn block rewards immediately.
- How to Participate: Tokens can be acquired through our partner exchanges, such as MEXC and Coinstore, or from bridged networks like Base, Arbitrum, and Algorand.
For a detailed overview of the staking caps, overflow mechanism, and bonus reward calculations, please refer to our previous announcement:
https://medium.com/@voifoundation/vois-staking-program-140mm-voi-4cbfd3a27f63
Block Rewards
In addition to the Testnet Airdrop and Staking Program, participants can benefit from Block Rewards. These rewards are designed to incentivize network security and are distributed based on the number of blocks produced by Voi accounts.
- Separate Participation: Anyone can earn Block Rewards completely separately from the airdrop programs by setting up a node and registering an account online that has tokens. This offers a unique opportunity for community members to earn rewards while holding Voi in their accounts.
- Airdrop Program Integration: Participants in the Testnet Program and Staking Program can also put their tokens to work by using the smart contracts that their airdrop lands in. All tokens from both programs are held in contracts that handle the lockup and vesting, and these contracts can be used to secure the network. By doing so, participants can earn Block Rewards on top of their airdrop allocations, further increasing their token holdings while they wait for their tokens to become fully vested.
- Block rewards acquired in anyway have no lockup or vesting on them and are fully liquid.
Funding and Contract Details
To ensure fair and equal treatment across all participants in both the Testnet and Staking Programs, tokens are funded into contracts that manage both the lockup and vesting periods. Contracts for both programs will be funded on October 28th, once the Staking Program concludes. This approach guarantees that all participants, whether they joined through the Testnet Program or the Staking Program, are on equal footing.
- Smart Contracts: All tokens from both programs are funded directly into smart contracts. These contracts handle the lockup and vesting of the tokens, ensuring that participants’ rewards are managed securely and transparently.
- Earning Block Rewards: While the tokens are locked and vesting, they are not idle. The contracts allow all the tokens within them to be put to work on a node, allowing participants to earn Block Rewards during the entire lockup and vesting period. This means that users can continue benefiting from their locked or vesting tokens by supporting the network and securing additional rewards.
Unlock Schedule
Tokens for both the Testnet Program and Staking Program unlock monthly after October 28th, based on the user-configured lockup periods and their respective vesting schedules.
- Testnet Airdrop Unlocks: Tokens begin unlocking monthly after the 12-month vesting period starts, with participants receiving 1/12 of their tokens each month. This vesting schedule ensures a structured and fair distribution for all testnet participants.
- Staking Program Unlocks: In the Staking Program, the vesting period is equal to the user-selected lockup period, capped at 12 months. For any lockup period between 12 to 18 months, there will still be a 12-month vesting period. Tokens begin unlocking monthly, with 1/12 of the vested tokens becoming available at the end of each month after the lockup period concludes.
Examples
Example 1: Testnet Airdrop Participation
Imagine you participated in the Testnet Airdrop and received 12,000 VOI tokens. You chose a 0-year lockup period:
- Vesting Period: Your tokens are vested over 12 months. Each month, you will receive 1,000 VOI tokens.
- Flexibility vs. Rewards: Since you chose no lockup, your rewards were fewer compared to others who chose longer lockups, but you get access to your tokens sooner.
- Earning Block Rewards: Once your contract is funded, you can use the locked and vesting tokens to secure the network and earn block rewards.
Example 2: Staking Program Participation
You decide to participate in the Staking Program starting on September 30th. You have 100,000 VOI tokens and choose to lock them for 18 months:
- Bonus Rewards: Since you locked your tokens for 18 months, you receive a 100% bonus, adding 100,000 VOI tokens to your contract.
- Total Tokens in Contract: You now have 200,000 VOI tokens in the staking contract, which can be put to work on a node to earn block rewards.
- Vesting Period: Your vesting period is capped at 12 months, meaning that after the 18-month lockup, your tokens will be released at a rate of 1/12 each month for 12 months.
- Earning Block Rewards: Once the contract is funded, you can use your locked and vesting tokens to secure the network and earn block rewards.
Example 3: Weekly Cap and Overflow Mechanism
During Week 1 of the Staking Program, you stake 60 million VOI tokens:
- Weekly Cap: The cap for Week 1 is 50 million tokens. As such, 50 million tokens count towards Week 1, and the remaining 10 million tokens overflow into Week 2.
- Overflow Effect: The 10 million overflowed tokens will use the multiplier for Week 2. This is why early participation is key, as staking early can maximize your rewards.
Frequently Asked Questions (FAQs)
Q1: What happens if I do not select a lockup period?
If you do not select a lockup period, your tokens will default to a 0-year lockup. However, they will still be subject to the 12-month vesting period, and you will receive 1/12 of your tokens each month during the vesting period.
Q2: Can I earn block rewards while my tokens are in lockup or vesting?
Yes! While your tokens are locked or vesting in the staking contract, they are not idle. You can put them to work by staking them on a node to secure the network and earn block rewards during the lockup and vesting period.
Q3: How are bonus rewards calculated in the Staking Program?
Bonus rewards in the Staking Program are calculated based on timing and duration of the lockup. The earlier you participate and the longer your lockup period, the higher your bonus — up to 100%.
Q4: What is the best way to acquire VOI tokens for the Staking Program?
The best way to acquire VOI tokens is through our official exchange partners, MEXC and Coinstore. Additionally, tokens can be purchased on bridged networks such as Base, Arbitrum, and Algorand by leveraging Aramid.
Q5: What happens if the weekly staking cap is not reached?
If the weekly staking cap of 50 million tokens is not reached, the remaining capacity does not carry over to the following week. Each week starts with its own separate 50 million token cap.
Q6: How is the unlocking of tokens handled?
Tokens begin unlocking monthly after the lockup period concludes. If you have a 12-month vesting period, you will receive 1/12 of your tokens each month. During the lockup period, tokens are fully inaccessible, but once the vesting period starts, they are gradually released.
