Treasure Chests (Airdrops)

The first treasure chest event is live, link to the medium here

Argo will be implementing a new format of airdrops to reward our community for hitting milestones or targets - Keys and Treasure Chests.

As the Argo embarks on her odyssey, there will be times where the crew will come across treasure chests. As active members of our crew, our fellow Argonauts will be able to gain a share of this treasure.

How does it work?

Treasure Chests will contain xARGO tokens that will grow in amount proportional to the milestones that are set for the current event.

Users who are eligible for the treasure chest event will be airdropped Keys, which give users the right to claim a proportional share of the Treasure Chest at the end of the event. Each event’s key is unique and cannot be used for the next chest.

If a lower milestone is hit at the end of the event, the Chest will contain a lower amount of ARGO, vice versa with a higher milestone number is met. Each treasure chest event will be accompanied with a detailed campaign post that will explain all figures and targets, including eligibility for airdrops of Keys.

Illustrative example of a potential event:

Max Treasure Chest: 1000 xARGO

Milestone: $100 TVL

Minimum TVL: $10 (If TVL is below $10 at the end of the event, the Treasure Chest is not claimable

Keys dropped: 1000

Key drop requirements: minimum $0.10 delegated to bCRO, proportional to total value of all eligible participants (someone who delegates $0.20 will get twice the number of keys as $0.10)

As protocol TVL grows towards $100, the amount of xARGO in the treasure chest increases towards 1000 xARGO. The exact amount of xARGO in the chest will be displayed real time and can be calculated with a provided calculator whenever a Treasure Chest is found.

At the end of the event, the value of the Treasure Chest is locked based on current TVL milestone achieved and will be claimed by Key holders. If there are 1000 keys airdropped and the user owns 100, they will have access to 10% of the Treasure Chest.

All recipients of the airdropped Keys will be able to benefit from the event, as long as targets are met. Teamwork makes the dreamwork!

How can I convert my Keys to xARGO?

Users will be able to exchange the Keys for xARGO from the Treasure Chest module at the end of the event. We will be releasing further guides on the claiming process

How will I qualify for a Key airdrop?

We aim to reward long-term supporters in the community, which could mean people that have staked a certain CRO or ARGO with us for a period of time.

That being said, we aim to be inclusive with the Keys to allow the broader Cronos community to benefit as well. We will be detailing the exact requirements for the Key airdrops before the start of each Treasure Chest event.