So far, the SOY Finance airdrops have met with great success and have attracted users from DeFi systems such as Uniswap, SushiSwap, 1Inch, and PancakeSwap. Now, we have reached Phase 6 of our airdrop roadmap—the time to reward Callisto Network users and holders. To do so, we will airdrop 3 000 000 SOY tokens to the Callisto Network community. The incentive behind this airdrop is twofold ;
First: To reward long-term Callisto Network investors.
Second: To increase SOY token decentralization by expanding its user base.
SOY Finance Airdrop Phase 6: Deep Freezing SOY In 2018, Callisto Network introduced a passive-income mechanism called Cold Staking, available through the most popular crypto wallets. Today, the community has locked more than 40% of the Callisto Coin (CLO) circulation supply into Cold Staking, showing its great popularity. Therefore, it seems logical to devote the sixth phase of our airdrop to Cold Stakers.
How to Enter the Airdrop? The airdrop will be performed in two phases, with 1 500 000 SOY tokens distributed in each phase. The first snapshot of the first phase will be taken on 30/04/2022 (30 Apr 2022). A second one on 31/07/2022 (31 Jul 2022). To be eligible to receive the airdropped SOY tokens, a user must be an active Cold Staker during that period. Airdrop Eligibility Rules An active Cold Staker is someone who has locked at least 1 CLO into the Cold Staking smart contract, independently of the time of his deposit, and the number of rounds selected. Users who are already Cold Staking, and from whom the locking period has not expired, are considered active users.
Note: Users with higher deposits that are locked into longer staking periods will receive higher rewards.
When Will I Receive My Tokens? The 3 million SOY tokens of the Cold Staking Airdrop will be distributed in 12 waves of 250 000 tokens per wave. The distributions will start 180 days after the snapshots (30 April 2022 & 31 July 2022) and will continue with one wave, every two weeks, until all the tokens have been distributed. Token distribution will be random, and each eligible user will only receive one airdrop. The snapshots’ results will be available 5 days after each snapshot. Details for SOY’s next and final airdrop – its seventh airdrop – will be announced on 25/08/22 (25 August 2022). For more information please refer to SOY Tokenomics.
About Cold Staking
“Cold staking” is not related to proof-of-stake or any consensus mechanism. Cold stakers neither generate blocks nor confirm transactions. It is simply a method of locking coins into a contract and earning rewards for doing so. The cold staking contract collects 40% of all mining rewards and distributes it to the cold stakers in direct proportion to their holdings. Cold stakers earn a passive income simply by locking their CLO coins into the smart contract for a specific period of time. This makes cold-staking a much safer and eco-friendly way to earn passive income with cryptocurrencies.
About Soy Finance
Backed by the most experienced crypto-security experts, SOY Finance is a DeFi platform for easy and safe trading. Newbies and casuals alike will appreciate the intuitive technologies, such as “1-Click Swap”, while traders will value the high-level security features with a dedicated token standard and a safelist for audited and insured tokens. Users get rewarded by holding and farming their SOY tokens, and receive up to 20% of the total trading fees and newly minted SOY tokens, as described in the monetary policy.
