Airdrop FAQs

FAQs

veTMS

What is veTMS?

veTMS allows token holders to lock their tokens in a Voting Escrow contract. It is used to participate in Themis’ governance and also used to distribute protocol income and increase reward rates. This is similar to Curve's veToken design and ve(3,3) which issues the veToken as an NFT. And where voting power is based on a time-weighted factor. So more voting power is granted to those that lock their veTokens the longest.

ve(3,3) has three parameters:

  1. Time-weighted factor

  2. Minimum lockup period

  3. Proportional issuance rate

This voting mechanism allows token holders to support or oppose a decision by locking up their tokens. And these voting shares gradually increase based on the duration of the lockup.

For example, if you lock your tokens for a year, your voting share will be greater than that of another holder who’s only locked their tokens for a month.

With Themis 2.0, 1 $TMS can be locked for a maximum of 2 years. And will receive 4x the weightage. So this means:

1 $TMS locked for 3 months = 0.5 veTMS

1 $TMS locked for 12 months = 2 veTMS

1 $TMS locked for 24 months = 4 veTMS

In Themis’ Phase 2 Airdrop, Loot Boxes are purchased. The cost is xx and the price of $TMS at settlement is yy. Then the quantity of $TMS is K=xyK = \frac{x}{y}

Each box holds a different time-weighted factor:

Amount of veTMS obtained for Common Box = 0.5∗K0.5*K

Amount of veTMS obtained for Rare Box = 2∗K2*K

Amount of veTMS obtained for Mythic Box = 4∗K4*K

What are the tokenomics of veTMS?

Since veTMS uses the same economic model of the veToken, the release of $TMS also adopts an inflation model with the following rules:

  • With an initial emission of 4,000,000 $TMS

  • 30% will be used to reward Suppliers and Borrowers in the lending protocol

  • 70% will be used for the acceleration reward of veTMS

  • And weekly emission decays by 1%

So by holding veTMS and participating in the protocol governance, you’ll receive a portion of the token inflation rewards and a portion of the protocol income.

Any initial Stakeholders involved with the development of Themis 2.0 will be able to redistribute protocol tokens based on their contributions. These Stakeholders are seen as our staunch supporters, voters, liquidity providers, and beneficiaries of the protocol. They will receive the most rewards based on their contributions and commitment.

veTMS Settlement

veTMS distributions are based on the number of boxes purchased during the campaign. At the conclusion of the campaign, you’ll receive veTMS (in the form of an NFT) and it will contain all voting weights. After the lockup period is complete, the weightage is deducted and $TMS can be redeemed. Also note that veTMS can also be resold on secondary markets. Themis 2.0 is expected to release within two weeks of TGE (token generation event). And veTMS will be available to claim when the protocol is launched.

Claiming USDC Rewards

Why do I need to claim my USDC rewards by signing?

If it is not due to network or other issues, please complete all claim processes, otherwise the reward data will be deducted. It takes time to return these rewards, so please be patient.

To ensure data is not lost, this round of activity uses post-settlement. Therefore, pre-signing is a necessary step to synchronize data to the contract. However, if you fail to claim your reward, we can help you retrieve them.

Why is my claim button grey?

To prevent the failure of claiming due to too many simultaneous transactions, we have set a minimum withdrawal amount and signature to alleviate this situation. Currently, rewards must be at least 10 USDC to be claimed. This parameter can be configured and canceled after the end of the activity.

The Claim button also becomes grayed out after signing because the reward sending time is 5 minutes, and the signature reservation time is 2 minutes. So, after claiming a reward once, you’ll need to wait about 12 minutes before claiming another reward.

Tickets

What is the difference between P1's Tickets and P2's Tickets #2?

These are two different Tickets. They represent weights in the different phases. For example, if you earned 30 Tickets in P1 (already complete), they don’t carry over to P2., You’ll need Tickets #2 to participate in the prize pool distribution for P2.

How much of the rewards can Tickets be redeemed for?

For P1 Tickets, after the total $TMS amount for Airdrop P1 is determined, you can get:

RewardTMS=AmountTickets5,000,000∗AmountAirdropP1Reward_{TMS}=\frac{Amount_{Tickets}}{5,000,000}*Amount_{AirdropP1}

Similarly, in P2, there is also an AirdropP2 parameter, so the $TMS airdrop you can receive is:

RewardTMS=AmountTicketsTotaltickets∗AmountAirdropP2Reward_{TMS}=\frac{Amount_{Tickets}}{Total_{tickets}}*Amount_{AirdropP2}

P2 also has a daily emission of USDC:

EstimateDailyRewardUSDC=AmountticketsTotaltickets∗DailyEmissionUSDCEstimateDailyReward_{USDC}=\frac{Amount_{tickets}}{Total_{tickets}} *DailyEmission_{USDC}

The Treasure Chest will be distributed at the end of the campaign. It will be distributed based on Tickets #2 rankings.

Rewards

What rewards do I get for purchasing boxes?

  1. You can receive Tickets #2 to be eligible for the $USDC prize pool distribution.

  2. If your Tickets #2 rank is high, you’re also eligible for the final Treasure Chest.

  3. You can receive $TMS airdrops based on Ticket weight. this can be claimed 2 weeks after TGE.

  4. The cost of purchasing boxes will be converted into veTMS based on the five-day average price of TMS after TGE. After veTMS expires, you can claim your $TMS.

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