DeFi protocol Pencils Protocol launches DAPP airdrop details

Source: Pencils Protocol, Medium; Compiled by: Baishui, Golden Finance

Pencils Protocol is the leading DeFi protocol in the Scroll ecosystem, providing a full set of DeFi solutions designed to enhance the value and utility of the Scroll network built on breakthrough ZK technology. Since its launch in February 2024, Pencils Protocol has quickly become one of the top three farm protocols in the ecosystem, combining farm, vault, and auction functions to unlock the potential of innovative yield protocols.

To date, Pencils Protocol has surpassed $300M in total locked value and attracted over 250,000 active users. We are very grateful for the trust and support of the community, whose strong commitment has driven Pencils' rapid growth and success in just a few months.

We are excited to announce the first large-scale airdrop of $DAPP, our native token, as a way to reward early supporters and allow users to participate in the next phase of Pencils Protocol's development. This marks the beginning of an exciting journey!

$DAPP is the core of the Pencils Protocol ecosystem, providing staking rewards, high leverage privileges, and project allocation opportunities. It can also be used as collateral for trading NFTs and real-world assets, and will be integrated into DeFi products for liquidity and lending. Users will enjoy fee discounts on Bridge and DEX services, and regular $DAPP buybacks and destruction ensure transparency.

Airdrop Allocation

$DAPP allocation rules have been detailed before. In particular, participants in Season 2: The Mystic Pen Warriors will follow the 16% release schedule allocated to early backers, which is separate from the airdrop allocation. This means that 15% will be released in the TGE and the rest will unlock linearly over 12 months. These tokens will be available for claiming on the airdrop page (coming soon).

Early active users include:

• Users holding S1 certificates

• Users holding S2 certificates

• Users holding Pencils S and P badges

• Users who participated in the OKX wallet alliance and obtained Pencils Protocol Miner S3 NFT

• Users who successfully minted SOUL NFT (including participants in all partner Boosting activities)

Tip: Please pay attention to the official announcement for details on the airdrop query page and snapshot time.

Airdrop Accelerated Unlocking Plan

Tokens allocated to early active users will be unlocked in three stages:

• 50% released at TGE.

• 25% released 30 days after TGE.

• 25% will be released 60 days after TGE.

Eligible users can accelerate the unlocking of tokens through the following methods:

• Tokensoft Verification Incentive: Complete KYC through Tokensoft to unlock an additional 25%, and get 75% at TGE.

• Token Sale Participation Rewards: Participating in the token sale subscription (unlimited amount) can unlock an additional 50%, and 100% on the TGE.

Payment Methods

Exchange Payment Process

• Airdrop Qualification and Collection:The airdrop event page will be open before the TGE. Eligible users can visit the page at launch, sign with their eligible address, and submit the UID and network address of their centralized exchange (CEX). After successful verification, the airdrop tokens will be issued to the spot account of the partner exchange before trading begins. Users should monitor their exchange account balances, and Pencils will provide detailed guidelines for the event.

• Subsequent Airdrops:For future airdrops, users can return to the airdrop event page and click "Claim" in the corresponding section. Tokens will be automatically issued to the spot account of the partner exchange where they were originally submitted. The specific issuance time will depend on the exchange's internal schedule.

On-chain claim process

The on-chain claim process will be open 24 hours after the TGE. Once the user clicks "Confirm Claim" on the airdrop page, $DAPP will be released directly to their on-chain wallet. The specific arrival time depends on the confirmation speed of the blockchain.

Collection period

The collection window opens before the TGE and closes 30 days after the end of the last collection period. Users must complete their $DAPP collection within this time frame, otherwise the tokens will be confiscated and recycled.

Earn and Stake

After receiving $DAPP, users can join the earn and stake activities of the partner exchanges to get high APY rewards (coming soon). In addition, they can also participate in $DAPP staking on the Pencils platform (coming soon) to earn high Pencils points and get shares in the auction project launch. More Scroll ecosystem airdrop rewards are also coming soon.

*Note:

Please make sure your registration information on Tokensoft and the partner exchange is accurate and the address is consistent to avoid affecting the airdrop collection.

The platform reserves the right to adjust the rules of the event, and all updates will be announced through official channels.