As announced in the last week, a new chapter for MetalSwap arrive with the OP Grant. The 30K OP tokens are on its way and today we'll explain the Deployment and Reward Planning.
In recent discussions on our Governance Forum, the MetalSwap community has been actively exploring solutions to improve scalability and accessibility. We are proud to announce that MetalSwap won the prestigious Optimism Growth Experiment Cycle 11 Grant, which awards 30,000 OP tokens as incentives for our users. Following the grant's approval and the MIP draft, the MetalSwap Foundation has decided to take over the MIP and bring it to an on-chain vote.
Today, we are delighted to unveil the six months Deployment Plan, detailing how Swappers will receive the OP incentive if the DAO approves the deployment on Optimism. The OP Foundation will provide 40% of the Grant immediately, with the remainder distributed based on Critical Milestones.
30k OP as Reward
A total of 20,000 OP tokens will be distributed as Rewards for Hedging Swap users. There will be an amount of OP tokens that will distribute a proportional amount of OP tokens based on the target size and duration of the position.
A total of 10,000 OP tokens will be distributed as Rewards for Staked asset Liquidity Providing. Liquidity NFTs will then be created and these NFTs will be staked until the end of the distribution plan. People who unstake the Liquidity Representing NFT earlier, will forfeit its earned OP which will be distributed pro rata to the other liquidity providers. These will not receive OP but will receive the regular XMT reward. More information will be soon provided.
In addition to OP tokens, users will also receive XMT. This approach is particularly inviting, as it offers greater incentives for using Hedging Swaps once the pools are filled. XMT rewards are redeemable also while the liquidity is staked.
The 30k OP Distribution Plan marks an exciting new chapter for the MetalSwap community, offering valuable incentives and improved user experience. We invite you to join the conversation on Governance Forum and stay updated on the latest news by following our official Telegram group.
Together, let's continue building a stronger, more innovative Decentralized Hedging Swap platform.
Join the vote and help shape the future of MetalSwap today!
To the MetalSwap
… and beyond!
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✎ What is MetalSwap?
With MetalSwap we enable Hedging Swap transactions through the use of Smart Contracts, AMM style.