We are excited to announce another Equinox Staking surprise drop. This time our friends at PARSIQ sponsored the event and dropped $10,000 worth of PARSIQ tokens (PRQ) to our users.
Injective partnered with PARSIQ earlier this year to enable fully automated decentralized trading. This will allow our users to set custom rules that automatically execute trades and other functions based on predefined parameters.
PARSIQ is a blockchain monitoring and workflow automation platform that has introduced smart triggers to the crypto world. PARSIQ allows real-time on-chain events to trigger off-chain actions, giving developers the possibility to automate workflows which helps create endless avenues to interact with real world applications.
PARSIQ enables IFTTT rule sets. IFTTT stands for “If This Then That”. Put simply, IFTTT services allow users to group a number of actions that are automatically executed. For example, “If Bitcoin drops below $50K, buy $100 worth of Ethereum”.
The full excel sheet showing the winners can be found here
Start staking on Injective for a chance to win the next drop while also earning up to a 29% APY here
- The individual must have a minimum of 100 INJ successfully delegated to one of the validators participating in Equinox staking
The specific reward amount is based on the amount of INJ that a person staked. So, a person with 200 INJ would receive more ETH relative to a person who only staked 100 INJ.
However if we had used a linear distribution, someone who staked 1M INJ would likely receive nearly all of the rewards while another person with 100 INJ would receive virtually nothing. So to make this process fair we utilized a bonding curve as illustrated below.
Within this form of distribution someone with more INJ would receive a higher reward amount but this amount would decrease over time.
These are the steps we used to distribute the rewards:
- 149 individuals were randomly chosen from the pool of stakers (this was done to ensure fairness and to also provide a meaningful reward amount to each user)
- The stakers were then ranked based on the amount of their INJ holding
- The individual with the highest amount of INJ (rank 1) holding within this pool was given $105.817444 in PRQ
- The rank 2 user was given $105.109638, etc.
- This pattern continued until the 149th person was given $39.190203 in PRQ
- The price of PRQ snapshot was taken today and was pegged to $2.02
- We then proceeded to transfer the PRQ to each winner (we made sure to cover any and all gas fees in the process)
- The full excel sheet showing the winners can be found here (please used CMD + F on a Mac to search for your wallet address or use CNTRL + F on a PC)
We are collaborating with a number of top projects in the space to carry out more surprise token drops.
Stay tuned as we release more surprise token drops to our valued supporters!
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.