The Burn2Claim ended on May 20th with a total of 6.1 million nRYU burned for the RVS token. The phase saw a total of 72 unique addresses participate over the month event.
Some random stats from the phase:
- The average address burned 23,839 $nRYU
- The average participant earned 1.92 $RVS
- The largest participant burned 457,963 $nRYU, earning 32.68 $RVS total
- The smallest participant burned 1,039 $nRYU, earning 0.0801 $RVS total
The timeline for the RVS airdrop is relatively simple. As pre-liquidity launch token holders, all tokens are subject to the vesting terms. Participants can expect to receive the RVS tokens with a linear vested unlock for 7 months with a 2 month cliff to start. The schedule starts with the end of Month 1 on June 20, 2023, with the final airdrop for Burn2Claim tokens occurring on February 20th, 2024. Airdrops occur on the 20th of each month. Please see the visual below for the vested unlock. Unlocks will occur on the 20th of each month.
Month 1 is May 2023 & Month 9 is February 2024.
A liquidity launchpad event is being scheduled for sometime in the near future. This event will lock 100% of funds raised in the LP for 2 years. We hope to be able to generate at least $10,000 USD for the token. This launch amount would be ideal for substantial trading depth for the governance token.
The Ryu Vault Services team will post Farm Rewards from the Team Treasury to further support initial liquidity. Users who supply AVAX/RVS LP will be eligible to stake LP tokens for a combination of $RVS and $nRYU farm rewards. Farm rewards will follow a tapered approach, with the plan to phase them out after 3 months. This saves plenty of farm rewards for future times with higher on chain activity and trading volume.
Thank you to all the participants in the Burn2Claim phase. This has truly been one of the most electrifying and exciting times for Ryu in 2023. We look forward to welcoming Ryu Vault Services to the Ryu suite of products.
To learn more about what the RVS token will be used for, please see the gitbook here. More updates to come soon.
$RVS per address + monthly airdrop
