Name of the Event: “CONVERGENCE STAKING AIRDROP” (the “Event”)
Description of the Event: The CONVERGENCE STAKING AIRDROP will take place from August 25th to November 2nd.
The CONVERGENCE STAKING AIRDROP will start on 25th Aug 2022 at 00:00 UTC. Participants are advised to join by simply depositing or buying at least 5,000 CONV tokens. During the 10-week period, any “hodl” of at least 5000 CONV tokens in your exchange wallet on Bitfinex will mean you are automatically eligible to participate in the event.
CONVERGENCE and BITFINEX will Airdrop up to 6,700,000 (6.7 Million) tokens every week for accounts that hold a minimum eligible amount of CONV tokens on the platform.
The event rewards will be distributed proportionately on a weekly basis, based on the number of CONV TOKENS held in individual user exchange wallets at the time of the snapshot. The maximum payout of CONV tokens rewards is capped at 75,000 CONV per week per user.
Note that selling or trading of CONV TOKENS is permissible during the campaign period, but eligibility for the staking airdrop awards are only valid if a user has at least 5000 CONV tokens in their Exchange wallet.
To join the CONVERGENCE STAKING AIRDROP, users must have a verified Bitfinex account to at least a Basic Plus level. You will also need to ensure you have a CONV wallet address set up on your account so that you will be able to receive AIRDROP REWARDS. Decisions made by Bitfinex in respect this program shall be final and binding.
Campaign Period: 25th August 2022 at 00:00: UTC - 2nd November 2022 at 23:59 UTC (10 weeks)
Event Prizes: All users that held at least 5,000 CONV will receive WEEKLY AIRDROPS based on their contribution to the total amount of CONV TOKENS deposited on BITFINEX.
Total AIRDROP REWARDS Pool:
67,000,000 CONV (Sixty seven million CONV tokens)
Weekly AIRDROP REWARDS Pool:
6,700,000 CONV (Six million and seven hundred thousand CONV Tokens)
Rewards and Distribution:
- Only users with a minimum balance of 5,000 CONV in their exchange wallets on Bitfinex are eligible to receive rewards.
- All eligible users must either deposit the minimum balance into a Bitfinex wallet or acquire them on the exchange.
- The distribution of rewards will be calculated and distributed weekly as follows:
- Rewards will be distributed based on the total amount of eligible CONV held by each user as a proportion of the total amount of CONV deposited on the platform.
- You can receive up to 2.5 times the staked CONV amount as an airdrop reward each week.
- There’s a 75,000 CONV airdrop reward cap per user per week.
- The cycle for the weekly rewards will be closed every Wednesday, and the AIRDROP REWARDS will be processed up to the following Friday after the cycle closes.
This Campaign is open to all eligible users who have completed at least Basic Plus verification process on their account and hold 5,000 CONV on their Exchange wallet on Bitfinex. Eligible participants must at all times comply with these terms as well as Bitfinex’s Term of Service. Void where prohibited or restricted by law.