Shade Staking + Final Airdrop LIVE on Mainnet
Shade Protocol announces live staking and final airdrop. Experience a unique 7-day lock-up and real yield model with non-inflationary rewards. Join us in ushering a new era for Web3.
Jul 13, 2023
Shade Protocol is proud to announce that staking is live - the promise of airdrop distribution is complete with the final 70% of the SHD airdrop being released with staking to the decentralized community.
Shade Staking has a 7 day lock-up experience - uniquely differentiating it from other proof of stake lock-up experiences which tend to be 21 day lock-up periods.
These rewards come from a variety of fee streams tied to Shade Apps:
ShadeSwap trading fees
SILK interest fees
SILK borrowing fees
Protocol owned staking
Protocol owned liquidity
With the launch of staking, Shade Protocol will be heading towards a real yield model where 100% of fees accrued by the protocol will be converted into SHD on ShadeSwap and then sent to the Shade staking rewards pool. The beauty of real yield is that this is non-inflationary rewards to users.
In order to promote the use of staking, Shade Protocol will be performing a one month promotional subsidized SHD staking experience while the real yield levers are turned on.
Eventually, once governance is live the community will have the opportunity to vote to shift away from 100% of fees going to stakers and instead incorporate elements of the MetaEngine (such as protocol owned liquidity).
The original Shade Protocol tokenomics (2021) outlined 14.50% of supply being airdropped to the community. This was done with three tasks:
(1) Initial claim (20%) - February 2022
(2) Bonds Airdrop (10%) - November 2022
(3) Staking (70%) - June 2023
To qualify for the airdrop, users need to have staked $SCRT, $ATOM, or $LUNA from November 7th 2021 - December 13th, 2021.
June 27th, 2023 marks the end of the Shade Protocol airdrop. Users will have one month to begin claiming their airdrop before atrophy of their airdrop begins as per the schedule below:
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange.
Without privacy, DeFi is incomplete. Traditional financial markets offer a degree of privacy for users, and as a result offer up greater protections in some capacity than existing DeFi markets. Shade Protocol will be the world’s first truly cohesive decentralized and privacy-preserving financial applications — ushering in a golden era for Web3. Shade Protocol will always push for privacy by default, privacy as an expectation, and privacy as the key to unlocking the full value of a decentralized future.