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Liquidity Score - Discontinued
What is Liquidity Score?
Every wallet is assigned an ELK Liquidity Score based on how much $ELK, how long the $ELK has been held, and how much liquidity it provides to ELK pairs.
Why is there a cap on the maximum amount of $ELK per wallet?
The answer is simple: we do not want whales to claim most of the airdrop as this is unhealthy for the community and the long term. We have seen this happen with other projects and this is our attempt at limiting the impact of this issue for ELK.
If you are an ELK whale, worry not! Your participation and liquidity provisioning in ELK will be rewarded by NFTs that will allow you to claim more ELKs over a longer period of time.
You have our word that you will also be rewarded in kind for your participation but we want to first focus on achieving wide-distribution.
Who is a Strong Holder and what are the benefits of being one?
Every holder of $ELK on every chain we support and every liquidity provider of $ELK on our supported chains is eligible to claim a fraction proportional to their ELK Liquidity Score.
You will accumulate strong holder points by holding $ELK
How can I become a Strong Holder?
Your address will be automagically added to the Liquidity Score list when you hold $ELK or provide liquidity on one of the chains in our ElkDex.
No form is required for this but in order to claim your ELK, you must use the same wallet address as you use on other chains to get airdrops on new chains we launch to. This is easily achieved using MetaMask.
How is Liquidity Score computed?
The liquidity score for ELK holders is computed using two scores:
- For every $ELK held in your wallet for a duration of 1 day (pro-rated to the second), your HODL score gains 1 point.
- For every $ELK held in a liquidity pair for a duration of 1 day (pro-rated to the second), your LP score gains 1 point.
It does not matter if your ELK Liquidity Pair (ELP) is staked in a yield farm or staying in your wallet: it accrues points either way. Also, note that the score takes into account the amount of $ELK you put in the ELP, not the amount that it may contain later on. In other words, if the price of $ELK increases relative to the second token in the pair, your score is not penalized (and remains completely oblivious to any impermanent loss).
The liquidity score is then computed as follows:
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ELK Liquidity Score = HODL score + 3 * LP score
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Providing liquidity to ELK pairs earns 3 times the score earned by simply holding the $ELK. By increasing the weight of the LP score in the final score, we aim to incentivize people to actively participate in the ELK network and compensate early liquidity providers that may have suffered some impermanent loss at launch.
Here are a few examples:
- Alice received $ELK 50 in the AVAX airdrop and held it in her wallet for a week. Her liquidity score is therefore 50 * 7 + 3 * 0 * 7= 350.
- Bob received $ELK 50 in the AVAX airdrop and immediately put it in an ELK-AVAX pair for a week. His liquidity score is therefore 0 * 7 + 3 * 50 * 7 = 1050.
- Charles received $ELK 50 in the AVAX airdrop and immediately put it in ELK-AVAX for a week. Two days after the airdrop, he bought another $ELK 50 and left it in his wallet. Finally, Charles removed $ELK 10 from his ELK-AVAX pair three days ago and left it in his wallet. His HODL score is 50 * 5+ 10 * 3 = 280, his LP score is 50 * 4 + 40 * 3 = 320. His liquidity score is 280 + 3 * 320 = 1240. Note that even if Charles suffered impermanent loss and can only retrieve $ELK 30 from his ELK-AVAX pair, his score is computed using the original amount (50–10).
- Eve received $ELK 50 in the AVAX airdrop and immediately sold them. Her liquidity score is therefore 0 * 7 + 0 * 7 = 0.
Sounds complicated.. Don't you have a calculator for that?
Spot on!
You can check your score at any time (including a detailed breakdown) by visiting https://elk.finance/score.html and entering your address. We will be updating the scores on a regular basis (and improving the interface) so you can always have up-to-date information.
What about airdrops on new chains? How many $ELK will I get in the airdrops?
It depends. Chain analytics and ELK Liquidity Score will be computed on every chain. Every airdrop will distribute $ELK to wallets proportionally to these scores.
Disclaimer: Team Elk reserves the right to exclude wallets or limit the amount of airdropped $ELK if suspicious activity is detected and we reserve the right to adjust the weights or the way the liquidity score is computed.
Last modified 1yr ago
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Contents
What is Liquidity Score?
Why is there a cap on the maximum amount of $ELK per wallet?
Who is a Strong Holder and what are the benefits of being one?
How can I become a Strong Holder?
How is Liquidity Score computed?
Sounds complicated.. Don't you have a calculator for that?
What about airdrops on new chains? How many $ELK will I get in the airdrops?