Point Collection
Last updated
Last updated
Skyren's reward distribution system is an innovative approach to maximizing and sharing airdrop benefits among its community members. Here's a detailed explanation of how it operates, with a focus on the role of the Decentralized Autonomous Organization (DAO) in handling airdrop points:
Cryptocurrency projects often reward users with points for participating in various blockchain activities before an airdrop. These points serve as a measure of user engagement and typically translate into airdrop rewards later.
Users can earn airdrop points through various blockchain interactions, such as:
Providing liquidity for upcoming projects or blockchains
Bridging tokens to relevant blockchains
Supplying hard liquidity to facilitate trading on specific Decentralized Exchanges (DEXs)
Participating in testnet activities
Engaging with project-specific tasks or challenges
The Skyren DAO plays a crucial role in maximizing airdrop benefits:
Collective Power: By leveraging the combined resources of its members, the DAO can engage in point-earning activities at a much larger scale than individual users.
Efficiency: The DAO's wallet accumulates airdrop points at a significantly higher rate, benefiting from economies of scale and coordinated efforts.
Expertise: The DAO can strategically participate in the most rewarding activities, guided by collective knowledge and experience.
Once airdrop points are earned, they are converted into tangible rewards:
The DAO exchanges accumulated points for native tokens of the respective projects or blockchains.
These tokens are then deposited directly into the DAO wallet.
The process is managed automatically, ensuring efficient and timely conversion of points to tokens.
Skyren employs a fair and transparent system to distribute rewards:
Proportional Distribution: Rewards are distributed to all SKYRN token holders on the Polygon blockchain.
Calculation Method: The distribution is proportional to each holder's SKYRN token balance.
Example: If a wallet holds 1% of the total SKYRN supply, it receives 1% of the total rewards earned by the Skyren DAO.
Automatic Process: Distribution is typically handled through smart contracts, ensuring accuracy and eliminating the need for manual intervention.
Skyren primarily distributes airdrop rewards on the Polygon blockchain. However, due to cross-chain limitations or EVM incompatibility, some rewards may be distributed on the most appropriate and liquid alternative blockchain on a case-by-case basis. Users should be proficient in blockchain navigation or seek assistance from the Skyren Education Center if needed.
Participating in Skyren's reward system is straightforward:
Minimal Action Required: Users only need to hold SKYRN tokens in a non-custodial wallet on the Polygon blockchain.
Passive Earning: By simply holding tokens, users automatically become eligible for their share of airdrop rewards.
Diversification: Holders gain exposure to various project tokens without actively participating in multiple airdrops.
Time Efficiency: The DAO handles the complex and time-consuming tasks of earning and claiming airdrop rewards.
In conclusion, Skyren's reward distribution system offers a user-friendly and efficient way for SKYRN holders to benefit from a wide range of airdrop opportunities. By leveraging the power of collective action through its DAO, Skyren maximizes rewards and distributes them fairly among its token holders, creating a win-win scenario for all participants.
