Aark Digital Early Bird ALP Season 2 — Benefits and Rules
The previous Early Bird ALP was a phenomenal success. Cheers to all our participants for their great contribution to Aark Digital’s journey.
The Early Bird ALP closes on October 10th. However, we want to continue this community momentum.
Henceforth, we proudly present…
Early Bird ALP Season 2!
Now, Let’s dive in for more details.
- 300,000 $AARK will be allocated for the program.
- There are Hard Lock-up and Soft Lock-up:
- Hard Lock-up: 2 months of mandatory lock-up.
- Soft Lock-up: 2 months of lock-up after Hard Lock-up finishes. You can withdraw with a request.
- The airdrop will be given based on your shares in the total ALP size.
- Participants can deposit with ETH, USDC, and FRAX.
- Participating with FRAX gives you a 10% bonus $AARK reward than using other collaterals.
- The deposit and the Google Forms application will open on October 4th at 1 PM UTC+0 and close on October 19th, 11:59 PM UTC+0.
- You must open at least 1x leveraged ALP position and confirm your involvement from the Liquidity page to participate by October 20th, 11:59 PM UTC+0.
- Important Note: Since the lock-up will be applied to the wallet you submit, if you want to supply additional LP without lock-up, please use another wallet you have not submitted.
How It Works
To participate, users must visit https://app.aark.digital/lp when the deposit begins.
Follow these steps:
- Complete the Google Forms and submit.
- Visit https://app.aark.digital/lp to deposit.
- Click on the “Go to Deposit” button.
- After choosing the asset you want to provide as LP, enter the amount and click “Deposit”.
- Open an ALP position. You can choose up to 5x leverage.
- Once you’ve successfully opened the ALP position, you will see the net worth of your position under Position Value on the upper left side.
- From the Liquidity page, click the banner that says, “Participate Early Bird Season 2.”
- Clicking the banner will present the ‘Participate’ button. Pressing the button will confirm your participation in Early Bird ALP Season 2. Make sure to do this by Oct. 20th, 11:59 PM UTC+0.
Policy & Rules
- You must open at least 1x leveraged ALP position and confirm your involvement from the Liquidity page to participate.
- The airdrop amount is distributed based on your shares in the total ALP size.
- 150,000 $AARK will be allocated each to Hard Lock-up and Soft Lock-up.
- Your funds will be locked for 2 months in return for Hard Lock-up rewards.
- After 2 months of Hard Lock-up, Soft Lock-up begins. If you wish to earn more rewards after Hard Lock-up, you can choose to keep your ALP position for an extra 2 months during Soft Lock-up.
- During Soft Lock-up, you can withdraw by submitting a request via Google Forms. Further details will be announced.
- Airdrops during the Soft Lock-up period will be calculated daily based on your shares of the total ALP size. Therefore, if you withdraw in the middle, you will receive the amount that has been calculated until the withdrawal date.
*Important Note: You cannot solely participate in Soft Lock-up.
- Airdrops will be claimable linearly for 2 months after TGE.
What is ALP?
ALP refers to Aark Digital’s highly advanced LP pool.
Aark Digital changes the dynamics of LP. Single-sided LP allows liquidity providers to deposit any whitelisted assets to LP without the need to be exposed to a basket of assets. Later, the LP assets list will be expanded to stETH, BTC, and many other assets.
On top of such delta-neutrality, Aark Digital enables Leveraged LP, allowing liquidity providers to leverage their LP positions and earn up to 2x APR.
Further implementing funding fees and removing borrowing fees, the balanced long-short open interest exposes LPs to minimum directional risk.
For a detailed explanation of ALP, please refer to our previous post: