🤑Haven1 Airdrop claim mechanism
Thank you for your support and dedication to the Haven1 testnet—we couldn’t have made it this far without the backing of our ever-growing community and all of our testnet testers!
At Haven1, we're dedicated to ensuring a fair and transparent distribution of H1 tokens, constituting 3% of total token supply(check tokenomics here). So, as we prepare for our mainnet launch, we’d like to guide you through the claims process of your well-earned H1 tokens.
Here's everything you need to know to make the most of your airdrop claim.
Airdrop Allocation Overview
Airdrop allocations are determined by your accumulated Liquidity Points (LP) and Experience Points (XP), adjusted for any earned Boosts. Below are the methods available for claiming your airdrop (you can visit this page to learn more about XP, LP and Boosts).
Claiming Your Airdrop
You have the flexibility to claim your airdrop in H1 or esH1 tokens or a combination of both, tailored to your needs. If you’d like to learn more about the difference between H1 and esH1 tokens, you’ll find some additional information about what esH1 is here.
Option 1: Immediate Liquidity with H1 Tokens:
You can choose to convert part of your airdrop reward into H1 tokens, which will be liquid and tradable on various exchanges. Opting for H1 will provide immediate access to trade your tokens, but you will receive only 25% of the portion you choose to convert into H1. The remaining 75% of that portion will be forfeited.
Example: If your full allocation is 1,000 H1 tokens, and you choose to convert all into H1 for immediate liquidity, you will lose 750 tokens and receive only 250 H1 tokens
What can you do with H1?
You will need H1 to pay application fees to interact with various applications on Haven1 (such as hSwap), so you may want to save some H1 in order to be able to participate in the Haven1 economy.
Option 2: Full Allocation with esH1 Tokens:
You can choose to receive the entire amount of your airdrop in esH1 tokens (or escrowed H1). esH1 offers significant benefits and greatly supports the network, but cannot be traded or transferred immediately. You can visit this link to read more on esH1.
TL;DR
eSH1 token is equal to the H1 token (1esH1 = 1 H1).
esH1 tokens are illiquid and will vest into H1 over a one-year (365 day) period linearly, block-by-block
What can you do with H1?
Staking for Rewards: You can lock stake your esH1 to earn a share of fees collected by nearly every application on the Haven1 chain—a way of generating incremental rewards.
Vesting into H1: You can choose to convert your esH1 into H1 over a one-year (365 day) period, allowing you to participate fully in the ecosystem while your tokens vest.
Important Note:
Important Clarification: You can mix your airdrop claim by adjusting the slider on the claim page. For example, if you decide to take 50% of your claim as immediate liquidity and the remaining 50% as esH1, you’ll get:
For the H1 portion: 25% of the 50% you choose to claim immediately as liquid H1.
For the esH1 portion: 100% of the remaining 50% in esH1 tokens.
Here's an complete example:
You have accumulated 1,000 XP and 1,000,000 LP and 300% Boost just before the mainnet. You will have gained 4,000 XP and 4,000,000 LP during the testnet after accounting for Boosts
Assume all testnet users have accumulated 10,000,000 XP and 10,000,000,000 LP during the testnet after accounting for boosts
Total number of H1 token supply available to the participants in Haven1 Testnet airdrop is 3% . This is equal to (3%*2,000,000,000)=60,000,000
Assume the XP: LP distribution is 80:20 . This means 48,000,000 H1 tokens to be allocated pro rate to 10,000,000 XP and 12,000,000 H1 tokens to be distributed pro rata to 10,000,000,000 LP
You would have earned 4,000/10,000,000*48,000,000=19,200 H1 tokens due to your XP. And 4,000,000/10,000,000,000*10,000,000= 4,800 H1 token due to your LP. Your total allocation at this point would be 19,200+4,800=24,000 H1 tokens
Example: You choose to take 50% of your claim as immediate liquidity and 50% as esH1.
Immediate liquidity: You get 25% of 50% of your allocation = 3,000 H1 tokens.
Full esH1 claim: You get 100% of the remaining 50% = 12,000 esH1 tokens.
Summary:
You can claim your airdrop as liquid H1 tokens for immediate trading OR as esH1 tokens for greater, future benefits.
Liquid H1 tokens provide quick access to trading but come with a 75% reduction in airdrop claim.
In contrast, esH1 tokens, though not immediately tradable, allow for full vesting after 365 days.
Rules and Geographical Requirements
hPassport (Haven1 Passport): You must complete KYC (Know Your Customer), which will mint your hPassport (or Haven1 Passport), before initiating a claim.
Geographical Restrictions: Users from the United States, DPRK, Syria, Iran, Iraq, Afghanistan, Democratic Republic of Congo, Cuba, Myanmar and from Crimea, Donetsk, Luhansk regions of Ukraine are not eligible to participate in the airdrop due to regulatory constraints.
Haven1 reserves the rights to modify the geographical restrictions list as needed.
Policy on Unclaimed Airdrops
Users will have 60 days to claim their airdrop after the end of the incentivized testnet campaign.
Unclaimed airdrops will be rolled into future phases of our airdrop program, ensuring that all tokens either contribute to testnet user rewards or are reserved for subsequent community incentives on mainnet.
Thanks for your active participation in the Haven1 ecosystem.
The publishing of this document has no bearing on the actual date of the TGE and/or the airdrop. This is in the interest of transparency—to keep you aware of the airdrop mechanics and invite your feedback on the same.
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