An exclusive airdrop event is underway, offering participants the chance to receive NYM token rewards simply by increasing their BETH holdings. BETH is a liquid staking token that represents staked Ethereum (ETH) and allows users to earn staking rewards while maintaining liquidity.
This guide explains everything you need to know about the airdrop opportunity, including eligibility requirements, reward calculations, and key dates. We’ll also cover broader strategies for participating in airdrop campaigns effectively.
How the NYM Airdrop Works
The airdrop campaign is designed to reward users who increase their BETH holdings during a specific period. Here’s a breakdown of the core mechanics:
Eligibility Requirements
To qualify for the NYM airdrop, you must meet the following conditions:
- Stake an additional minimum of 0.1 ETH to receive BETH at a 1:1 ratio during the campaign window.
- Maintain or exceed the required average holding of BETH for 15 consecutive days.
- Have completed Basic identity verification on the platform.
- Not be a resident of any excluded country or region.
Key Dates and Snapshot Mechanism
The campaign uses a snapshot mechanism to determine rewards:
- A baseline snapshot of your BETH holdings is taken on July 17, 2023.
- Daily snapshots are recorded from July 17 to July 31, 2023 (UTC+8).
- The average of your BETH holdings above the baseline during this period determines your reward allocation.
How to Acquire BETH
BETH can be obtained through several methods, providing flexibility for users looking to increase their holdings:
- Staking ETH: Convert ETH into BETH through the platform’s staking service. This allows you to earn staking rewards while qualifying for the airdrop.
- Trading: Buy BETH directly on the spot market using trading pairs like BETH/USDT or BETH/ETH.
Regardless of the method you choose, increasing your BETH balance during the campaign period is the key to maximizing your airdrop rewards. 👉 Explore secure staking options
Reward Calculation and Distribution
Your share of the airdrop is calculated proportionally based on your contribution to the total new BETH holdings during the campaign.
Calculating Your Airdrop Reward
The formula used is:
Your Rewards = (Your New BETH Holdings / Total New BETH Holdings) × Total Prize Pool
The prize pool for this campaign is 250,000 NYM tokens.
Receiving Your Rewards
- NYM Airdrop: Distributed to your Funding Account within 15 working days after the campaign concludes.
- ETH Staking Rewards: Distributed daily to your Funding Account, providing a consistent yield alongside the airdrop opportunity.
It’s important to note that the prize pool is subsidized by the platform, and staking rewards are based on actual on-chain interest, which may fluctuate.
Frequently Asked Questions
What is BETH?
BETH is a liquid staking token that represents your staked Ethereum. It allows you to earn staking rewards while still being able to trade or use the token in other decentralized finance (DeFi) activities, unlike traditional locked staking.
How long do I need to hold BETH to qualify?
You need to maintain your increased BETH holdings for an average of 15 consecutive days during the campaign period. Daily snapshots are taken to calculate this average.
Can I trade BETH during the campaign?
Yes, you can. However, your reward is based on daily snapshots. Significant selling between snapshots could lower your average holding and reduce your final airdrop allocation.
What is the value of the NYM token?
NYM is the native token of the Nym network, a privacy-focused infrastructure project. Its market value can fluctuate based on market conditions and demand. Always do your own research before participating in airdrops.
Are there any risks involved?
Like any crypto activity, staking and airdrop participation carry risks. These include market volatility, smart contract risk (though minimized with audited services), and regulatory changes. Only stake what you can afford to hold long-term.
Who is excluded from this promotion?
Residents of several countries, including the US, Hong Kong, Indonesia, and many others, are excluded. Always check the latest terms and conditions to confirm your eligibility.
Strategies for Airdrop Success
Participating in airdrops can be a rewarding way to earn new tokens. Here are a few general tips:
- Stay Informed: Follow official announcements to learn about new campaigns early.
- Understand the Rules: Carefully read the terms, snapshot mechanics, and eligibility requirements for each airdrop.
- Diversify: Consider participating in multiple legitimate airdrop campaigns to spread opportunity.
- Security First: Only use reputable platforms and never share your private keys or seed phrases to claim a reward.
By increasing your BETH holdings during the campaign window, you not only earn standard staking rewards but also position yourself to receive a bonus allocation of NYM tokens. 👉 Learn more about token rewards
Remember, the crypto landscape is dynamic. For the most current details on this or future airdrop events, always refer to the official source of information.