Apollo has announced its relaunch, introducing new yield strategies on Neutron and throughout the Cosmos ecosystem. This move aims to improve yields on Liquid Staking Derivatives (LSDs), starting with an ETH Vault on Neutron and expanding to include various yield-boosting initiatives. As part of the relaunch, Apollo will conduct an airdrop of $APOLLO tokens to reward long-term Apollo supporters.
Airdrop for Apollo Supporters
Apollo is conducting an airdrop as part of its relaunch. This airdrop is designed to reward long-term Apollo supporters, especially those who held tokens during Apollo’s time on Terra. Apollo took six snapshots of token holders around the UST depeg event to ensure a fair distribution of the new APOLLO tokens. Those who maintained their Apollo holdings since before the UST depeg and through the snapshots, will receive a 1:1 airdrop of the new tokens. Others who have transacted in Apollo tokens since then will receive a portion based on their holdings at the time of the snapshots.
Snapshots
- Snapshot Timing: The majority of the snapshots were strategically timed around the UST depegging event, aligning with significant moments in Apollo’s and Terra’s history.
- Six Snapshots: A total of six snapshots were taken to capture various states of token holdings. These snapshots include liquid Apollo tokens, unclaimed Apollo tokens (including CFE and Private Sale), and Apollo LP providers’ balances at each snapshot.
- Snapshot details below:
- Snapshot 1: May 9th 1AM UTC 20%
- Snapshot 2: May 10th 8 PM UTC 20%
- Snapshot 3: May 11th 4 PM UTC 20%
- Snapshot 4: May 14th 1 AM UTC 20%
- Snapshot 5: May 23rd 4 AM UTC 10%
- Snapshot 6: May 27th Unknown time 10%
Eligibility and Distribution Criteria
- 1:1 Airdrop for Long-Term Holders: Users who have maintained their Apollo holdings from before the UST depeg until the snapshots are eligible for a 1:1 airdrop when the token launches on the new network.
- Proportional Allocation: For those who have transacted in Apollo tokens since the UST depeg, the airdrop amount will be determined based on a percentage of their Apollo balance as recorded in the snapshots.
- Comprehensive Coverage: The airdrop aims to encompass a broad range of user activities, including trading and liquidity provision, to ensure a thorough and inclusive approach to token distribution.
Claiming Process and Launch Timeline
- 100% Claimable Tokens: Upon the APOLLO token going live on the new network, eligible participants will be able to claim 100% of their entitled APOLLO tokens here
- Official site and instructions: Please only claim from this site and follow official instructions https://app.apollo.farm/airdrop
Why Apollo Chose Neutron
Neutron, a new CosmWasm chain in the Cosmos ecosystem, is Apollo’s choice for its relaunch. Neutron’s aim to be a central DeFi hub, combined with its focus on LSDs, aligns with Apollo’s strategy to enhance yields in a user-friendly way. Apollo’s partnership with Neutron is expected to benefit both parties and strengthen their positions in the Cosmos ecosystem.
Apollo’s Yield Strategies
Apollo’s strategy begins with its ETH Vault on Neutron and will extend to USD and LSD Vaults on Osmosis. The focus is on making high yields accessible and manageable for users. This approach addresses the need for more attractive returns in the liquid staking space, where a significant amount of capital is currently earning lower yields.
Looking Ahead
Apollo’s relaunch marks the beginning of a broader strategy. Future plans include adding more LSD strategies for popular Cosmos tokens, integrating additional yield strategies, and working with partner protocols to enhance the Neutron DeFi ecosystem. These steps are part of Apollo’s aim to offer a comprehensive, efficient, and scalable DeFi solution in Cosmos.
Conclusion
Apollo’s relaunch signifies a strategic shift in the Cosmos DeFi landscape. By focusing on improving LSD yields and rewarding its long-term supporters, Apollo aims to solidify its position as a key player in the DeFi ecosystem.
For more: https://apollo.farm/
