1inch Campaign (active)
Protocol.art x 1inch
In March, users who stake 1INCH tokens and delegate Unicorn Power to resolvers, can win free mint from Protocol.art!
All participants who took part in the joint campaign between Protocol.art and 1INCH and fulfilled the conditions by the end of March will receive rewards! Users can choose to obtain standard or premium domains, which may vary in length. The type of free domain awarded will depend on the lock-up period and the amount of 1INCH tokens staked
To take part in the campaign, you need:
- Staking 1INCH tokens
- Delegating tokens
Read below how to do it 👇👇👇
With 1inch Fusion, you can stake 1INCH tokens to receive Unicorn Power (UP), then subsequently delegate your UP to a 1inch Fusion Resolver to start receiving rewards from them. These rewards accrue every second after you have delegated.
When staking, there is the option to set a custom or preset lock period. Your st1INCH tokens cannot be unstaked/withdrawn without penalty until your designated lock period expires.
The penalty structure follows this formula:
withdrawalAmount = (balance - votingPower) / 0.9
penalty = balance - withdrawalAmount
In this setting, the maximum early withdrawal loss is 90%, based off a minimum lock period of 1 month.
This penalty for unstaking 1INCH tokens decreases with time. Also, a longer lock period equates to a higher amount of UP tokens received.
Similar to the withdrawal penalty, the amount of held Unicorn Power also decreases with time.
As seen above, both the penalty for withdrawing st1INCH and the amount of held Unicorn Power decreases over time.
To stake 1INCH tokens, first connect your wallet. Then click on the “DAO” tab, followed by “Staking”.
Next, enter the amount of 1INCH you would like to stake, set the locking period, and click “Give permission to stake”.
Then sign the transaction in your connected wallet.
This will permit the 1INCH tokens to be used by the smart contract and stake them in one single transaction. Once completed, your 1INCH tokens will be staked! You will then be able to see the total amount of tokens staked, your lock period, and your total Unicorn Power (used for delegation or 1inch DAO governance voting).
Please note: Unstaking before the end of the lock period will result in a penalty.
In order to start receiving rewards, stakers of 1INCH tokens must delegate their Unicorn Power to resolvers. Resolvers deploy farms from their balance of 1INCH tokens specifically to reward all the delegators, proportionally to their stake within each farm.
How to delegate to a resolver:
First, you will need to stake some 1INCH tokens.
Once you hold st1INCH, click on the "Earn" tab at the top of the page, and then "Delegate".
On the next screen you will see all of the available resolvers that you can delegate to. The APR you see represents the amount of 1INCH tokens that the resolver is distributing to delegators, in relation to each delegator's staking schedule/amount.
After choosing the desired resolver, click "Delegate".
Next, click "Confirm" delegation, and then confirm the transaction in your connected wallet.
Once the transaction confirms on chain, you will have successfully delegated your Unicorn Power, and will immediately start earning rewards from the resolver.
The reward depends on the amount of tokens and lock-up time, and is divided into the following tiers:
Tier | Amount 1INCH tokens | Time | Rewards 🎁 |
|---|---|---|---|
1 | 3000 | 6m | Free mint 3+ characters |
2 | 1000 | 1 year | Free mint 4+ characters |
3 | 500 | 2 year | Free mint 5+ characters |
The conditions come into effect after you have staked the required amount of tokens for the necessary time period and delegated them
To receive your reward, you don't need to wait for the end of staking, you will be able to mint your rewards within an hour!"
Please find below the instructions on how to mint ENS:
P.S. Protocol.art highly values both new and existing users, and we have an exciting journey ahead with lots of interesting things in store. We encourage everyone to stay updated on our latest news and to join us on Discord and Twitter to be a part of the conversation. As we continue to innovate and explore new possibilities, we remain committed to providing our users with the best possible experience. Thank you ❤️ for being a part of the Protocol.art community!
Last modified 2mo ago