Variational, a derivatives protocol on Arbitrum, said it will offer more than $1 million and 150,000 platform points to attract the 10,000 most active on-chain perpetual futures traders, excluding market makers. Eligible traders can receive as many as 3,000 Variational points, while referrers can earn rewards of up to $15,000. The protocol said more than 750 new users have already registered through the campaign.
The announcement also restated the tokenomics for VAR, which the team disclosed on Sept. 24. Under that structure, 32% of the token supply is allocated to a genesis airdrop distributed in proportion to points and fully unlocked at the token generation event, or TGE. Another 18% is reserved for the ecosystem and will be allocated by the foundation, while 50% is assigned to the team and investors, subject to a 12-month lockup after TGE followed by at least three years of linear vesting.
Variational said it plans to hold its TGE in Q4. Until then, the team will continue distributing 150,000 points each week. Users need at least 1 point to claim the airdrop, unclaimed allocations will be burned, and 100% of revenue will be used to buy back and burn VAR.
Variational, a derivatives protocol on Arbitrum, said on Oct. 11 that it is rolling out a campaign aimed at the 10,000 most active on-chain perpetual futures traders, excluding market makers, with more than $1 million and 150,000 platform points offered as incentives to join the platform.
Under the program, eligible traders can receive up to 3,000 Variational points. Referrers can earn as much as $15,000. The protocol added that more than 750 new users have already signed up through the campaign.
VAR tokenomics disclosed in September
On Sept. 24, Variational released the tokenomics for VAR. According to the plan, 32% of the token supply will go to a genesis airdrop, distributed based on points and fully unlocked at TGE. Another 18% is set aside as an ecosystem reserve to be allocated by the foundation.
The remaining 50% is allocated to the team and investors. Those tokens will be locked for 12 months after TGE and then unlock linearly over at least three years.
Q4 TGE plan and airdrop conditions
The team said it is targeting a Q4 TGE. Before that, Variational will continue distributing 150,000 points every week. Users need at least 1 point to claim the airdrop. Any unclaimed airdrop allocation will be burned, and 100% of revenue will be used to buy back and burn VAR.
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