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Tuesday, June 25, 2024

Conic Finance Airdrop Review: Able to Claim Free CNC Tokens

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About Conic Finance Airdrop

Conic Finance Airdrop is an easy-to-use platform built for liquidity providers to easily diversify their exposure to multiple Curve pools. Any user can provide liquidity into a Conic Omnipool which allocates funds across Curve in proportion to protocol controlled pool weights. This is airdropping 10% of the total supply to CVX holders.

Users who had staked at least 3 CVX (vlCVX) tokens by the snapshot time are eligible to claim free CNC tokens. This is an easy-to-use platform built for liquidity providers to easily diversify their exposure to multiple Curve pools. Any user can provide liquidity into a Conic Omnipool which allocates funds across Curve in proportion to protocol controlled pool weights.

PlatformTotal ValueMax. ParticipantsWebsite
ETH20% of the total supplyUnlimitedClick Here To Visit
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Step No 1

Register for the Conic Finance Airdrop by creating an account.

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Step No 2

Verify your email & log in to your account.

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Step No 3

Take part in the referral program and invite 3 friends.

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Step No 4

Join Conic Finance Airdrop on Telegram group & Telegram channel. 

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Step No 5

Follow Conic Finance on Twitter & like/share the pinned tweet and tag 3 friends.  

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Step No 6

Like/follow Conic Finance Airdrop on Facebook & like/share the pinned post.  

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Step No 7

Submit your details to the Conic Finance Airdrop form. 

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The main goals of Conic can be summarized by the following:

Omnipools

Allow users to deposit a single asset into a Conic Omnipool which deploys liquidity across multiple Curve pools.

Liquidity distribution

Offer a solution to the current liquidity provision in the Curve ecosystem which is dominated by incentivized liquidity. This is done by establishing Conic governance which allows vlCNC holders to directly control which Curve pools receive liquidity.

Governance

Create a protocol that is both led and controlled by the Conic community via a self-sustaining DAO.

Deposits and withdrawals

Each Omnipool has a single underlying asset which can be exchanged for the Omnipool LP Token (depositing), and the LP Tokens can be redeemed for the underlying (withdrawing) at any time. One of the key challenges faced when depositing and withdrawing single sided liquidity is ensuring the pool is protected from slippage incurred during these transactions.

If not handled carefully, several attack vectors could exist that allow a malicious agent to drain funds from the pool. Slippage is unavoidable, and so Conic mitigates this risk by passing all slippage on to the depositing and withdrawing user during their transaction.

Conic Finance Airdrop is done by using a new way of calculating LP minting and burning. When a user deposits into the pool, the current TVL of the pool is calculated first before any other steps. The pricing of the LP Tokens for this calculation uses the process outlined in 3.1.2 which is manipulation resistant. Then the deposit or withdrawal is processed.

After this, the TVL is calculated again. During a deposit the amount of LP Tokens minted is based on the difference in the TVL from before and after the deposit (opposed to the amount of underlying deposited). Similarly, the amount of underlying redeemed depends on the change in TVL during a withdrawal.

Goals

Conic Finance Airdrop aims to allow users to diversify their exposure across multiple Curve pools with a single asset. Specifically, enabling users to deploy their asset (e.g. ETH) to multiple Curve pools in a single transaction.

Tokenomics

The Conic Finance Airdrop token is the governance token used by the Conic DAO and may be locked for vlCNC to participate in governance (see below). CNC is distributed to the following protocol stakeholders:

Liquidity providers

LPs receive a share of CNC that is minted proportional to the share of liquidity that they supply.

Curve LP token swappers:

LP token swappers receive an amount of CNC tokens for each successful LP token swap they carry out. The specific amount they receive follows the logic outlined in 3.2

Stakers of the CNC/ETH AMM LP token:

Conic Finance Airdrop total of 10% of the total CNC supply is distributed to stakers of the Curve factory pool CNC/ETH LP token to incentivize sufficient levels of liquidity for token swaps.

Platform Fees

Conic Finance Airdrop may charge platform fees on CRV and CVX earnings. However, this will need to be enabled via governance. All charged fees will be paid out to vlCNC holders.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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