2.4 mn $hrimp distributed to liquidity providers on WhaleStreet

2.4 mn $hrimp distributed to liquidity providers on WhaleStreet

Calculated over 103 days, 43 liquidity provider addresses that contributed to the LST-ETH pool on Uniswap until midnight, Dec 5, were given 1% of the target supply of $hrimp.

You gotta respect the DeFi intrepids. Those that sniff out potential and sound tokenomics super early in this chaotic space. As a mark of that respect, WhaleStreet announced 1% of the target supply of $hrimp as reward distributed among the early liquidity providers in the protocol. Here are the distribution parameters -

As you can see, the reward was calculated over a 103 day period and distributed pro rata, based on the amount of liquidity provided. In this period, the total expressed $hrimp per second was 0.2693925602, which is 23,275.52 per day. Refer here for a detailed breakdown of the reward distribution.

We are grateful for your confidence in this protocol and are working towards making it even cooler in the weeks to come.

$hrimp Mining Update

So, we opened up $hrimp mining at 00:00 GMT on December 6, 2020. Now, 35 epochs later (at the time of writing this), the circulating supply of $hrimp is at 14.4 mn. LST-ETH pool liquidity stands at $300,000, with 177,206 pool tokens staked in the protocol.

You can access the dApp yourself right here at WhaleStreet.xyz. Do note that the current reward rate of 4.96 $hrimp per second per pool token staked will last until January 3, when it will drop to 2.97 $hrimp. The reward rate will change with every series.

You can always reach out to us for further details and conversation on our Discord channel. Do follow the WhaleStreet Twitter handle for updates and broadcasts.

Community members will be glad to know that we plan to host the first WhaleStreet Community Call on December 23. We'll share joining details and an itinerary over the next few days.

Once again, thank you for your active participation. It inspires us to do better, to do more. To track updates, community calls, grants and more, join the discord channel, follow us on Twitter, and subscribe to our weekly newsletter — the Metatracker.