With a goal to unlock $1B+ of yield for LST holders, Moai Labs is set to launch the Epoch protocol in Q4 of 2023.
Originally inspired by the innovation of the Flashstake protocol, all genesis EPOCH tokens are to be airdropped exclusively to FLASH holders.
Shortly after, the Epoch Initial Time Offering will open for anyone who would like to participate by locking ETH.
Who is eligible for the genesis drop?
From August 15th to September 15th, there will 32 daily snapshots of FLASH holders. Only the following will be tracked to qualify:
- Holders: Mainnet, Arbitrum, Optimism
- LPs: FLASH/ETH on Mainnet, FLASH/ETH on Arbitrum, FLASH/ARB on Arbitrum
- Flashback Participants
- xFLASH Participants
The only wallet that is not eligible for the daily snapshots is the Flashstake Treasury wallet which holds approximately 50M+ tokens.
In doing so, EPOCH will not have any pre-minted team or project allocations ensuring 100% of tokens are in circulation on day one.
How many EPOCH am I eligible for?
Anyone who holds FLASH for each daily snapshot is guaranteed a 1:1 FLASH to EPOCH distribution.
Standard Holders
If you hold one FLASH token on Mainnet, two FLASH tokens on Arbitrum, and three FLASH tokens on Optimism for each day of the snapshots — you would qualify for (1+2+3) six EPOCH tokens.
FLASH LPs
LPs for FLASH/ETH on Mainnet/Arbitrum and FLASH/ARB on Arbitrum will be counted based on the total FLASH tokens they have as an LP on a daily basis.
For example, if your LP position consists of 100 FLASH and 1 ETH, you would qualify for 100 EPOCH tokens.
Flashback Participants
Individuals participating in Flashbacks will qualify for two things:
- The amount of FLASH they have staked per day
- A proportional amount of FLASH rewards earned for any active or matured stake.
For example, if you staked 200 FLASH that is set to receive an additional 100 FLASH reward when the stake matures, and you are 90% of the way through your Flashback maturity date, you would qualify for 290 EPOCH tokens.
200 + (90% of 100)
xFLASH Participants
Individuals participating in xFlash Flashbacks will qualify for two things:
- The amount of FLASH they have staked per day
- A amount of xFLASH rewards that would be earned when any stake matures.
For example, if you staked 100 FLASH that is set to receive an additional 5 xFLASH reward when the stake matures, you would qualify for 105 EPOCH tokens.
How Do I Claim My EPOCH?
It is currently expected that all EPOCH distributions will be done through the Dropzero dapp with the same address that is qualified to receive them.
When can I claim?
Distribution of tokens will be a few weeks before the Epoch Initial Time Offering.
The launch date is not yet finalized but the goal is to launch in Q4, 2023.
The claim window will be for 90 days. All unclaimed EPOCH tokens after 90 days will be removed from Dropzero and permanently burned.
Stay tuned to the Epoch Discord and Twitter accounts for future announcements of the distribution date and claim window.
The $1B Unlock
Epoch is aiming to unlock over $1B of yield for LSTs. If you want to join us on this journey, follow the links below.
