Shade Protocol Snapshot Timeline: A Comprehensive Guide
Get detailed insights on Shade Protocol's snapshot process. Learn about the timeline, staking details, and bonus criteria for our airdrop. Join us in privacy-preserving DeFi.
Oct 11, 2021
Welcome to the Shade Protocol community!
It's been a month since we announced the Shade Protocol on the Secret Network. The community has grown exponentially, and our core contributors are making steady progress in line with our snapshot and airdrop timeline.
The Importance of Snapshots
We believe that many airdrops fail due to inadequate preparation time for snapshots. Proper communication and lead time for snapshots are critical moments in a project's life cycle. With Shade Protocol, we aim to do things differently.
Snapshots will begin on November 7th at 5:00 pm UTC +0. This gives users 28 days to prepare. Snapshots will occur from November 7th through December 13th. Users are responsible for staking during this entire period.
We started regular anti-whale snapshots on all three networks early in 2021, before the announcement of Shade Protocol. Exchange validators and their public wallets will be automatically blacklisted on all networks. The airdrop equation will not be revealed until all snapshots are complete.
The total supply of Shade is 10,000,000. Stakers of Secret ($SCRT), Atom ($ATOM), and Luna ($LUNA) are eligible for the Shade airdrop. We aim to airdrop approximately 1,450,000 Shade. The airdrop will be distributed as follows: 36% to the Secret Network, 32% to Atom, and 32% to Luna. There is no minimum required staking amount on any network.
You can earn multiple airdrop rewards by staking on multiple networks. About 1.5% of the Shade supply will be devoted to an incentivized testnet and community participation before the launch of Shade Protocol. Tokenomics will be finalized and published before the first snapshot on November 7th. DEX LP staking is not included in the airdrop on any network.
Extra Airdrop Bonus
We will offer an extra airdrop bonus for those who meet the following criteria:
Stake outside of the top 10 nodes of SCRT, ATOM, LUNA
Do not stake with 0% commission-based nodes inside the top 25 validators on any network
We encourage decentralized communities to engage in sustainable staking practices. Stake with smaller nodes, multiple nodes, meaningful community contributors, and nodes that are active in governance. All nodes on SCRT/ATOM/LUNA networks are eligible for the Shade airdrop, barring exchange validators.