MetalSwap Release: XMT Airdrop

Metalswap Release - XMT Airdrop-1 _SUPERLIGHT (2)
In recent months, MetalSwap has released two public testnets: one for the Recall Pool feature, which has now been officially launched on the Binance Smart Chain and another for the NFT staking feature, that was also released a few days ago on the Optimism Chain.

Both testnets received a tremendous response from the community, with hundreds of addresses testing the smart contracts and uncovering potential improvements before the final release.

The team would like to publicly thank everyone who contributed to the development of these features and announce that these addresses will receive an XMT token airdrop!

XMT Airdrop for Testnet Users

MetalSwap has recently launched its Points Campaign aimed at rewarding those who helped develop certain features, such as the Recall Pool and NFT staking, by completing operations in the various testnet phases.

Users who interacted in the different testnets were able to accumulate XMTXP, which are points representing each user's effort.

Now it is time to reward everyone who contributed to the development of these features and an airdrop of XMT tokens will be completed for all addresses that performed operations in the various testnets and thus held XMTXP.

Eligibility and Token Amount

The greater the effort of a given address within the testnet for the Recall Pool and NFT staking, the greater the number of XMT that address will receive in this important airdrop.

The formula used to distribute the XMT tokens was as follows:

Each XMTXP earned by the user was converted into MetalSwap Points, with a ratio of 1 XMTXP : 0.2 MetalSwap Points.

In the first testnet, namely the Recall Pool, a total of 2342 MetalSwap Points were distributed, while for the second testnet, related to NFT staking feature, 4944 points were distributed, for a total of 7286 Points!

The team allocated 147,058 XMT for the airdrop, which is more than $2000 in countervalue. This amount was distributed based on the accumulated MetalSwap Points, where 1 MetalSwap Point corresponds to 20.18 XMT. 

The XMT tokens have already been directly distributed to eligible addresses on the Optimism blockchain.

Enjoy your airdrop and gain extra rewards

The XMT tokens received via airdrop will be completely unrestricted, and users will be free to use them as they wish.

However, it is important to remember that a few days ago, the NFT staking feature was released on Optimism and this represents a significant earning opportunity for everyone who holds XMT and USDC tokens in this chain.

As detailed in the dedicated article, this feature has been incentivized with 500 OP and 5000 XMT, thus potential earnings are very high for all those who stake their liquidity.

We therefore suggest trying out this new feature, which not only allows very interesting extra earnings, but also helps the development of MetalSwap and the XMT token.

Thanks again to all the testers that actively participate in shaping the newest MetalSwap features, see you next time! ;)


-The DeFi Foundation


✎ What is MetalSwap?

MetalSwap is a decentralized platform that brings Hedging Contracts on financial markets with the aim of providing coverage to those who work with digital asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.

With MetalSwap we enable Hedging Contracts on the DeFi field, AMM style.