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Nektar Network Launches Epoch 1 for Nektar Drops

Nektar Network begins Epoch 1, rewarding community contributions with Nektar Drops in a new phase of engagement.
Published on 2024-05-01

Epoch 1 Launch and Nektar Drops

Nektar Network has initiated Epoch 1 for Nektar Drops, starting May 1, 2024. This phase aims to reward community contributions through daily Nektar Drops, which can be earned by participating in specific activities within the Nektar ecosystem. The epoch will continue until June 1, 2024, or until the network reaches a total value locked (TVL) of 250,000 ETH.

Earning Nektar Drops

Participants can earn Nektar Drops by engaging with pre-launch initiatives such as Enzyme vaults, Reserve bsdETH initiatives, and Sommelier vaults. On the Ethereum mainnet, each ETH deposited earns 25 Nektar Drops daily. A different reward structure is applied on Base, where deposits yield 20 Nektar Drops per ETH per day.

Reward Structure

The reward system is as follows:

  • 25 pts/ETH for deposits on Enzyme and Sommelier
  • 20 pts/ETH for deposits on Reserve, Beefy, Aerodrome, and Extra Fi

The allocation of retroactive Nektar Drops has been revised, with a significant increase in drops for Goerli and Holesky testnet operators by over 50x. All other participant categories have seen a 10x increase to better recognize their contributions.

Future Enhancements

Referral rewards are set to be introduced later in Epoch 1, pending final technical enhancements with the Fuul team. This will ensure seamless integration into the existing reward structure.

Commitment to Community Engagement

The launch of Epoch 1 highlights Nektar Network's commitment to enhancing community engagement. Further details on Nektar Drops and subsequent stages of the Pollination Campaign will be shared soon.

About Nektar Network

Nektar Network is a multilayered restaking network built on Ethereum, offering a comprehensive incentives system to democratize access to Ethereum’s trust model. More information can be found on their website or through social media platforms like Farcaster and X.

Please note that engaging with smart contracts carries security risks, and this information does not constitute investment advice.

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