Posted 3 months ago | by @devadmin

Dear IOST family,

To celebrate the official launch of the HUSD stablecoin on IOST, the IOST-based popular liquidity mining projects — Watermelon and WaxGourd will co-host alongside HUSD team a handful of events with 1 million IOST airdrops. Without further ado, the event details:

HUSD x Watermelon Events

Event Period: 25 Jan 2021 to 03 Feb 2021

  • During 10 days after the event’s kick-off, the HUSD/XUSD pair will not only generate XG (weigh 10) but also IOST.
  • Limited to 40,000 IOST per day, for a total of 400,000 IOST (10 days).

During 10 days after the event’s kick-off, trade with HUSD on Xigua and share a 200,000 IOST prize.

  • Top 1–5 traders will receive 10,000 IOST each.
  • Top 6–10 traders will receive 6,000 IOST each.
  • Top 11–30 traders will receive 4,000 IOST each.
  • Top 31–50 traders will receive 2,000 IOST each.
  • The rewards will be distributed 10 days after the event ends.

Watermelon (Xigua) ‘s mission is to be the Uniswap + MakerDAO of the IOST blockchain and provide decentralized trading and stable coin lending services. Xigua adopts a dual token system in which:

  • XG is the platform token with a total supply of 4,000,000 tokens, from which 90% will be available for farming (mining)
  • XUSD is a stable coin generated through the collateralization of IOST on a 2.5 IOST : 1 XUSD ratio.

Official site: Xigua

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HUSD x WaxGourd Airdrop Event

Event Period: 25 Jan 2021 to 13 Feb 2021

  1. On WaxGourd, add liquidity to the IOST/HUSD pair.
  2. Set the handling fees to lower than 0,5%.
  3. Stay on top of the liquidity ranking.
  4. Add a certain amount of liquidity (See above)

Every day and at a random time, the system will take a snapshot and share 20,000 IOST Airdrop among the top market makers.

First place:

  • 9,200 IOST airdrop.
  • Minimum requirement: Market-making capital ≥ 2,000,000 IOST.
  • The user will receive a 2,000 IOST airdrop if the provided Market-making capital doesn’t reach the minimum requirement.

Second place:

  • 4,600 IOST airdrop.
  • Minimum requirement: Market-making capital ≥ 1,500,000 IOST.
  • The user will receive a 1,000 IOST airdrop if the provided Market-making capital doesn’t reach the minimum requirement.

Third place:

  • 2,200 IOST airdrop.
  • Minimum requirement: Market making capital ≥ 1,000,000 IOST.
  • The user will receive a 1,000 IOST airdrop if the provided Market-making capital doesn’t reach the minimum requirement.

Fourth place:

  • 1,200 IOST airdrop.
  • Minimum requirement: Market-making capital ≥ 500,000 IOST.
  • The user will be disqualified and removed from the top 5 rankings if less than 50,000 IOST are provided.

Fifth place:

  • 800 IOST airdrop.
  • Minimum requirement: Market-making capital ≥ 250,000 IOST.
  • The user will be disqualified and removed from the top 5 rankings if less than 50,000 IOST are provided.

Rest:

  • Only when the top 5 prizes are not rewarded.
  • Up to 2,000 IOST airdrops each.
  • Minimum requirement: Market-making capital ≥ 50,000 IOST.

Once the prize pool has less than 20,000 IOST, the system will share the rest among all the users in the liquidity ranking that day.

WaxGourd Finance is the first custom self-managed SWAP+C2C SWAP liquidity mining project on IOST. It aims to provide users with better trading prices and a better participation experience through unique custom market-making and C2C models.
WaxGourd will establish a set of exchange aggregation systems so that anyone can establish and manage their own decentralized SwapDex on WaxGourd. Based on current popular DeFi project transactions and market-making mining, WG tokens are provided as incentives for participants to promote ecological construction and community governance.

Official site: WaxGourd

Disclaimer: Third-party developers develop all IOST DApps. The information provided here does not constitute any investment advice. All content provided here is intended for education only. IOST bears no responsibility or liability for any loss which players may experience. Please contact the DApp team directly for any questions.

According to Coingecko, at present the total DeFi market cap is $40,793,774,692 with a Total Value Locked (TVL) of $26,660,956,412. As a leading public chain, IOST has been committed to creating a developer-friendly and zero thresholds global DeFi Ecosystem.

In 2019 and 2020, IOST had comprehensively explored and developed the DeFi Ecosystem in terms of stablecoins, DEX, cross-chain, oracles, financial derivatives, etc. With the blooming of various liquidity mining projects on the IOST chain, IOST has also become one of the fastest-growing public chains in the DeFi field in 2020.

With the IOST DeFi projects’ excellent performance in 2020, we expect more high-quality projects to onboard IOST in 2021 and help us keep improving the IOST DeFi Ecosystem. The integration of HUSD will further enrich the staking, trading, lending, and other projects in the IOST DeFi Ecosystem, bringing users a faster and more efficient experience. In the future, IOST will establish closer integration and synergy with partners around the world and further push the development and growth of the IOST DeFi Ecosystem.

If you would like to hang out with the IOST community on chat, social media, or to discuss product development, we have something for everyone:

Original article published on IOST’s medium.