Krystal Point System – 2024 Airdrop

🔵 Last Updated on 10/06/2024

After more than three years of continuous development, filled with numerous highs and lows, your unwavering support has always been invaluable. From the outset, our primary goal has been to deliver value to our users, a mission that remains unchanged. However, there remains a question from the community that we have yet to answer:

“Wen token?”

Today, we are delighted to announce to the community that:

“This year, 2024!”

And, in addition to the upcoming launch of the Krystal token, we also want to share information about the largest airdrop to our community since our genesis.

Introducing Krystal Points

The Krystal Points program is a specially tailored initiative that aims to show our gratitude and give back to our dedicated users. These are the individuals who have used, are currently using, or will use Krystal’s products in the near future as part of their LP journey. Our users make us great, and this program is our first step in actively involving them in the future growth and success of Krystal.

There are three types of Krystal Points you can earn:

• Retroactive points for wallet addresses that were snapshotted on 11:00 UTC, March 25, 2024. The conditions to receive these points are detailed in the following section.
• Points for wallet addresses that participate in tasks after the snapshot period.
• Extra points for partners’ communities

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What can I do to earn Krystal Points?

1. Retroactive points

You will receive retroactive points if you fall into at least one of the following categories:

• Early adopters: You are an LP user who swapped or performed any LP transactions on Krystal since our revamp in November 2023 up until our snapshot time
• You minted a Krystal NFT from our 2 Galxe campaigns: Celebrating 2 Years campaign and LP campaign

Please note: The snapshot for retroactive points was captured on March 25, 2024, 11:00 UTC

Even if you are ineligible for retroactive points, you can begin accumulating Krystal Points from now on. Regardless of how late we’ve met, you remain a valued user to us 😉

2. Points for current users

You can earn Krystal Points through many different activities, including:

Daily check-in:

Check in and maintain your streak to unlock more points

LP Activities:

🔵 Updated on 10/06/2024 : For each dollar of fees you claim on a LP position opened on Krystal, you will now earn 100,000 points. 🔥 This update applies regardless of whether the fee is claimed through Krystal’s UI or another project’s UI.

• Open LP positions using Krystal’s Zap In
• Close LP positions using Krystal’s Zap Out
• Compound LP fees on Krystal
• Rebalance your LP position on Krystal
• Set up Auto-Rebalance (points will be added when the transaction is triggered)

Note: Points will be added for transactions on 6 chains: Ethereum, BNB chain, Polygon, Arbitrum One, Base, and Optimism. Please find details in the Rules for Zap In, Zap Out, Compound, and Rebalance section below.

Swap on Krystal:

🔵 Updated on 10/06/2024 : Points for swapping remain to 10 points per dollar swapped.

Update on 11AM UTC, March 27, 2024:

1. Swap on Aurora, Fantom, Avalanche, Klaytn, Cronos and Linea will no longer get points. All transactions before this announcement on these 6 chains still get points.
2. Wrap and Unwrap transactions will not earn points.

Social Activities:

• Follow Krystal’s X
• Weekly social quizzes
• Write X posts and get retweeted by Krystal
• Refer your friends and earn 10% their points from their LP transactions on Krystal (including Zap In, Zap Out, Rebalance, and Compound). To start, create a unique referral link for yourself HERE and begin referring your friends!

3. Extra points for partners’ communities

Our journey would not be possible without our partners, and we are delighted to welcome THENA and OneID as part of the Krystal Point program.

As special partners of Krystal, THENA and OneID users will enjoy the following privileges:

THENA

While performing LP tasks on THENA, users will earn x5 points compared to other tasks. The LP tasks include:

• Open LP positions using Krystal’s Zap In
• Close LP positions using Krystal’s Zap Out
• Compound LP fees on Krystal
• Rebalance your LP position on Krystal
• Set up Auto-Rebalance (points will be add when the transaction is triggered)

Note: Rules have been applied. Please find details in the Rules for Zap In, Zap Out, Compound, and Rebalance section below.

OneID

Each wallet address that holds OneID and is connected to Krystal will receive 1,000 free points.

Please note:

• Each OneID can only receive 1,000 free points once. If the ID is linked to multiple wallets, only the first wallet that connects to Krystal will receive points.
• If you have multiple OneIDs in a wallet, the number of points you will receive is calculated using this formula: 1,000 points x total number of valid OneIDs.
• A “valid” OneID is one that hasn’t received 1,000 free points in any snapshot round before.
• Every Monday at 8AM UTC, we will take a snapshot of all wallets with OneIDs and distribute the points after that. This means that your points will not be added immediately when you connect your wallet.

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Fixed token allocation to Legacy Users

Legacy users: Users who had interacted with Krystal’s smart contract before January 1, 2024

• All legacy users will be marked as “Yes” in “Your Krystal Balance” tooltip on the Krystal Points homepage.
• There is a fixed token allocation dedicated to legacy users, which is not impacted by the number of points they earn.

Note: To filter out bots and increase the allocation to loyal legacy users, we will only airdrop to legacy wallets which have at least 10,000 points by the end of the Krystal Points program, which is equivalent to swapping $1,000 or Zap In with $100 going through swap

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Rules for Zap In, Zap Out, Compound, and Adjust Range

🔵 Updated on 10/06/2024: We have updated our points system for Zap In, Zap Out, Compound, and Rebalance activities. Now, you will earn 100 points for every $1 you Zap In or Zap Out, regardless of whether a swap is triggered or not. This change aims to simplify the rewards process and ensure all users are compensated for their transactions.

Below are some examples reflecting the new points mechanism:

• Zap In an out-range position: Previously, no points were awarded since no swap was triggered. Under the new system, you will earn points based on the dollar value zapped in, even if no swap occurs.
• Zap In 100 USDT into an in-range ETH/BNB position: Under the old system, you would earn 10,000 points, as the whole 100 USDT got swapped into ETH and BNB. With the new rules, you will continue to earn 10,000 points for zapping in 100 USDT, reflecting the updated general rule.
• Zap In $100 worth of ETH into an in-range ETH/BNB position, in which $20 worth of ETH was swapped into BNB: Previously, you earned 2,000 points for the $20 that got swapped. Now, you will receive 10,000 points for the total $100 zapped in, not just for the swapped amount.

Previous Mechanics:

We will only give points for Zap In, Zap Out, Compound, and Rebalance based on the swap volume triggered: 100 points per $1 swap triggered

Below are some examples:

• Zap In an out-range position: No point since there is no swap triggered
• Zap In 100 USDT into an in-range ETH/BNB position: 10,000 points, since the whole 100 USDT got swapped into ETH and BNB
• Zap In $100 worth of ETH into an in-range ETH/BNB position, in which $20 worth of ETH was swapped into BNB: 2,000 points, given $20 worth of ETH got swapped

(Same for Zap Out, Compound, and Rebalance)

The Rule for Auto-Rebalance

🔵 Updated on 10/06/2024: For the Auto-Rebalance feature, a new points mechanism has been implemented. Now, when the Auto-Rebalance feature is triggered, you will earn 100 points per dollar processed through this feature.

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How do I get my Krystal Points?

To retrieve the retroactive points you’ve already earned, as well as to earn more Krystal Points:

1. Access Krystal website or download Krystal mobile app (Android | IOS)
2. Connect your wallet
3. Go to the Krystal Points tab

In the Krystal Points tab, you can:

• Maintain a daily check-in streak to unlock more significant rewards
• Refer friends using your unique referral link
• Earn Krystal Points by completing tasks. These tasks can be one-time or recurring and may vary over time. Boost your Krystal Points by regularly checking the Krystal app and completing tasks
• Check your position on the leaderboard to see how you compare to other Krystal users

Note: Points earned will be automatically updated after you complete a qualified task. Krystal reserves our rights to eliminate exploiters from our airdrop allocation.

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A long journey ahead…

The Krystal Points program is our initial step towards actively involving our users in Krystal’s future growth and success.

We will share more updates about our airdrop and detailed information about the Krystal token soon. Stay tuned by following us!

LFG! 💚