Long awaited! The Crescent Network mainnet is live, starting from April 14, 2022:
- Swap token pairs on Crescent DEX without swap fees
- Liquid stake native tokens ($CRE) to receive bonded $CRE ($bCRE) for staking rewards
- Vote on on-chain governance proposals by holding $bCRE
- Deposit tokens through Inter-Blockchain Communication (IBC)
- Users eligible for airdrop can claim their $CRE by completing the following tasks
Upon passing of proposal #2 (Vote now! End time: 2022-04-18 11:59:33) for incentivizing pool pairs, users can:
- Provide liquidity to incentivized pool for LP incentives
- Utilize $bCRE by providing liquidity to a $bCRE pool for added rewards
*The slippage will be very volatile due to low liquidity in pools at the beginning. Please take caution in making swaps until pool liquidity becomes sufficient.
How to Claim $CRE DEXdrop — A Complete Guide
The airdrop process is categorized into two rounds: DEXdrop and Boostdrop, each round provides 50 million $CRE to eligible users. Now, users can obtain the DEXdrop through a series of tasks by understand Crescent DEX. After completing each step, users can receive 20% of the airdrop.
Task #1: Delegate $ATOM before snapshot
Delegate $ATOM to validators (except centralized exchange validators) at 00:00 UTC on January 1, 2022 (block #8902586) can receive the airdrop. If the user meets the following conditions:
- If participated in governance proposal #38 or #58
- If provided liquidity to Gravity DEX
- If used Gravity DEX
- Go to the website https://app.crescent.network/ on the desktop computer (mobile version is temporarily unavailable) and click [Connect Wallet] to log in the Keplr wallet. On the way, Keplr asks to join the connection (Requesting Connection), click [Approve] to confirm.
2. Click Airdrop from the top navigation menu. If you meet the airdrop criteria, task #1 will display [Claimed], and [crescent-1] will appear in the Keplr wallet menu. Click and view the amount of $CRE you have obtained.
Task #2: Liquid Stake $CRE
Click Staking from the top navigation menu, enter the amount of $CRE for Liquid Staking, then click [Stake]. After completion, you can swap for $bCRE and receive 20% airdrop successfully.
Task #3: Swap on Crescent DEX
Click Swap from the top navigation menu, enter the number of tokens to be swapped and click [Swap].
The swapped tokens are displayed under Tokens of the crescent-1 network, and users can transfer them to other wallets or provide liquidity on Crescent DEX through the IBC Transfer function.
Task #4: Provide liquidity to $bCRE pool
- Click Farm from the top navigation menu, choose any token pairs from the pools. The ratio of each pool is 50/50 for each token. Since we have $bCRE and $UST, select the $bCRE-$UST token pair and click [Manage] to provide liquidity to this pool.
At this moment, Crescent does not provide liquidity pool incentives, so there is no option to bond 1, 7 or 14 days. However, if the token that provides liquidity is $bCRE to one of the parties, the user can enjoy half of the equity pledge APR%. For example, the APR% displayed in task #2 is 52.54%, and users can enjoy 26.27% APR% after providing liquidity.
2. Click [Deposit] menu and deposit the token. After entering the number of tokens, pay attention to the number of Pool Tokens that can be obtained below, and click [Deposit] after confirming it is correct.
3. Then click [Farm] menu, freely adjust the percentage bar to select the pool token share that you want to provide liquidity, and click [Farm] to confirm.
4. Go back to Farm from top navigation menu, the token pairs that have already provided liquidity was displayed. Note that the reward does not start when you provide liquidity, you have to wait for the next daily epoch ( epoch ) UTC 00:00 to start accumulating rewards. [Reward distribution in] shows how much time is left until the next daily epoch.
5. You can click [Manage] to return to the token pair at any time and click [Claim] to withdraw the reward, click [Unfarm] to cancel the liquidity provision and get back the pool token or click [Withdraw] to get back your token.
Task #5: Vote on governance proposal
1. Click Gov on the top navigation menu, currently there are two proposals:
Proposal #1 is obtain a general approval from the Crescent community about implementation of the team’s proposed direction and architectural decision making structure that will guide Crescent’s maturity as a safe, functional, and innovative DeFi Hub.
Proposal #2 is to provide LP incentives for 6 liquidity pools among the 5 tokens on Crescent DEX, with the proportions of
- $bCRE / $CRE : 25%
- $bCRE / $UST : 15%
- $ATOM /$bCRE : 35%
- $LUNA / $bCRE : 15%
- $ATOM / $UST : 5%
- $LUNA / $UST : 5%
2. Click any proposal (the orange arrow), then click [Vote]. After making your voting selection, click [Approve] in the Keplr wallet pop-up window to complete the voting.
Click [Airdrop] from the top navigation menu, it will show that all airdrop tasks have been completed.
Congratulations, you've claimed all the airdrop.
Click Portfolio from the top navigation menu to view all your assets.
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