Countdown initiated: Announcing Astroport’s AstroDrop and launch date
For Astroport to be successful, we must get ASTRO into the hands of as many active Terra users as possible. Today, we’re excited to announce a launch date for the beginning of that distribution.
On 14 December 2021, Phase 1 of Astroport’s launch will begin with a “lockdrop.” Astroport’s lockdrop will last seven days. For the first five days, users will be able to migrate and “lock” Terraswap liquidity pool (LP) tokens in Astroport for a fixed period of time in exchange for a “drop” or distribution of ASTRO tokens.* All migrated liquidity will serve as the initial liquidity for the full launch of Astroport. On days six and seven of Phase 1, LP token deposits will not be allowed. Participants will however be able to withdraw a diminishing portion of their liquidity if they change their minds about participating.
Phase 2 will begin immediately afterward on 21 December 2021. Users will be able to lock UST and/or ASTRO tokens in the ASTRO-UST Bootstrapping Pool for three months. This liquidity will serve as the initial liquidity (the “bootstrap” liquidity) for the ASTRO-UST pool on Astroport. All participants will receive ASTRO tokens in exchange for participating.
Deposits will be allowed for the first five days of Phase 2. On days six and seven, ASTRO/UST deposits will no longer be allowed. Participants will be able to withdraw a diminishing portion of their UST liquidity if they change their minds about participating (ASTRO tokens cannot be withdrawn until they unlock over the course of three months).
Astroport will launch at the end of Phase 2. All ASTRO tokens that were not committed to the ASTRO-UST Bootstrapping Pool will be claimable, and users throughout the galaxy will be able to start using Astroport to swap tokens, create pools and provide liquidity.
Learn more about the lockdrop, airdrop and ASTRO-UST liquidity bootstrapping pool here. We will also reveal more details next week, including who will qualify for Astroport’s airdrops, which pools will be incentivized to migrate from Terraswap to Astroport, and how many ASTRO tokens each pool will receive.
In the meantime, mark your celestial calendars for 14 December 2021. If you have staked LUNA that you plan to pool on Astroport, you should start the 21-day unstaking process as soon as possible so you can participate in the lockdrop. Note that staking and unstaking will have no impact on your eligibility for the upcoming ASTRO airdrops as they’re all based on historical activity.
- Note: Delight Labs, the team running https://terraswap.io/, has not endorsed and is not affiliated with Astroport.
DISCLAIMER: This article does not constitute investment advice. Before interacting with Astroport, review the project disclaimers here.
Follow Astroport on twitter to receive all of the latest transmissions from the fringes: https://twitter.com/astroport_fi.