NitroDrop Campaign to Kick Off Hercules Era on Metis
Nitro Pools are one of the secret weapons in Hercules’ liquidity-boosting arsenal. Hercules Nitro Pools offer a high level of customization, where anyone can deploy their own custom-made Nitro Pool to incentivize any type of liquidity. Hercules will leverage this model to conduct a NitroDrop Campaign to attract users and liquidity to Metis, where participants will get airdropped TORCH tokens in the form of xTORCH, a non-transferable escrowed token.
Although non-transferable, the xTORCH token is Hercules’s main utility token, offering several benefits:
- Access to Real Yield from the Dividend plugin in the form of USDC & METIS.
- Increase user LP APR by allocating xTORCH to the Yield Booster plugin.
- Participate in new token sales by allocating xTORCH to the launchpad plugin.
- Participate in governance voting on key platform decisions.
There are two ways to participate in the NitroDrop campaign: through quests on the Zealy platform, and bridging USDC to the Metis Andromeda network using Synapse or Wanchain bridge providers.
NitroDrop Campaign on the Zealy Platform
The Hercules team will allocate 50,000 TORCH tokens for the campaign held on the Zealy platform. Thus, users just need to accumulate XP points, which will be converted into tokens. The more points you accumulate, the greater the reward.
Each new quest will be announced in both #nitrodrop Discord channel and Hercules’ Telegram, starting on Oct 30th.
NitroDrop Campaign using Synapse & Wanchain Bridges
We also allocated 50,000 TORCH tokens for users who bridge USDC to Metis using Synapse or Wanchain. This part of the campaign will start once the Genesis Pools go live.
The amount of USDC you bridge will define how many tokens you’ll get, based on a 0.05 ratio:
Bridging 1 USDC to Metis will yield 0.05 $xTORCH💰
Redeeming your Airdrop Allocation
By the end of the campaign, users will be able to redeem their airdropped xTORCH tokens. After claiming them, users have to go through a vesting process, for which they will freely choose the vesting duration within a given range of 15 days to 6 months, such that their xTORCH becomes liquid.
The xTORCH to TORCH conversion ratio won’t be fixed; it will increase proportionally with the chosen vesting duration:
- a minimum of 15 days of vesting for a 1:0.5 ratio
- a maximum of 6 months of vesting for a 1:1 ratio
Users who vest for 6 months will redeem full TORCH (1:1 ratio). If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess TORCH will be burned.
With the coming age of Hercules also comes great, limited-time opportunities to earn! By collaborating with first-rate partners such as Wanchain and Synapse, users are able to gain experience with proud Hercules partners while earning additional rewards. Stay tuned as we’ve got a plethora of bullish announcements waiting for you!
Are you ready for the Herculean DeFi era?
