Campie has been selected as a recipient of the Arbitrum Short Term Incentive Program (STIP), receiving an allocation of 300,000 ARB tokens. This allocation, valued at around $600,000, is being distributed via the Arbitrum network, with a portion designated to incentivize the blackholing of GRAIL tokens from Camelot DEX through the STIP GRAIL RUSH #2.
The STIP GRAIL RUSH #2
The STIP GRAIL RUSH #2 has been crafted to encourage the conversion of GRAIL into mGRAIL through Campie, offering ARB tokens as incentives for participating users. mGRAIL, Campie’s version of the GRAIL token, enables users to earn revenue share from Campie without any lockup period. This program aims to bolster Campie’s xGRAIL holdings within Camelot, thereby enhancing the platform’s effectiveness and core functionalities. As a gesture of appreciation, active participants who contribute to increasing Campie’s xGRAIL holdings will be rewarded with ARB tokens.
Note: 3% of the total CMP token supply will be distributed as an airdrop among participants from GRAIL RUSH events. mGRAIL holders and stakers will have access to share 45% of the total CMP token IDO.
Please note that once a user converts GRAIL to mGRAIL, this conversion is permanent and cannot be reversed. However, to provide flexibility, Campie intends to launch an mGRAIL-GRAIL pool on secondary markets, such as Camelot DEX. This pool will allow users to trade mGRAIL back to GRAIL tokens at the prevailing market rate. This secondary market option offers users flexibility in managing their mGRAIL tokens and adjusting their token holdings based on their preferences and market conditions.
How to join the STIP GRAIL RUSH #2?
To participate in the STIP GRAIL RUSH #2, users must convert their GRAIL tokens into mGRAIL on Campie. Campie has allocated 120,000 ARB tokens from the Arbitrum STIP as rewards for users who convert their GRAIL during this event.
Limited-Time Event: 5 Days
The STIP GRAIL RUSH #2 is a time-sensitive event spanning five days. To fully capitalize on the rewards offered, it is crucial for users to convert their GRAIL holdings within the specified timeframe.
The STIP GRAIL RUSH #2 Reward Structure
In the GRAIL RUSH #2, the allocation of ARB rewards to participants depends on how much GRAIL they convert into mGRAIL. The rewards are organized into brackets, and as participants surpass a particular bracket, the rewards for subsequent brackets are determined by the cumulative GRAIL tokens converted. Participants can execute multiple transactions to increase their converted GRAIL amount, enabling them to progress to higher reward brackets.
Brackets of Rewards:
Example
1. User A converts 0.5 GRAIL
User A will receive:
- 60 ARB * 0.50 GRAIL = 30 ARB + 0.50 mGRAIL
2. User B converts 50 GRAIL
User B will receive:
- 60 ARB * 1 GRAIL = 60 ARB + 1 mGRAIL
- 65 ARB * 4 GRAIL = 260 ARB + 4 mGRAIL
- 75 ARB * 15 GRAIL = 1125 ARB + 15 mGRAIL
- 90 ARB * 30 GRAIL = 2,700 ARB + 30 mGRAIL
By converting 50 GRAIL tokens, User B will receive 50 mGRAIL + 4,145 ARB tokens.
This method ensures that the distribution of the ARB rewards is proportional to the GRAIL conversion for each user, making it an equitable approach to allocating rewards.
Claiming mGRAIL Tokens
For each GRAIL converted during the STIP GRAIL RUSH #2, users will receive 1 mGRAIL. This process ensures a clear and fair conversion rate for all users who participate in the event.
Claiming ARB Rewards
Upon converting GRAIL into mGRAIL, participants in the STIP GRAIL RUSH #2 will receive the entirety of their earned ARB rewards directly credited to their wallets.
The primary objective of the STIP GRAIL RUSH #2 is to blackhole GRAIL tokens while simultaneously enhancing the services provided by Campie within the Arbitrum DeFi ecosystem. This initiative aims to provide attractive yields and cost-effective voting power for individuals and entities seeking to engage with the Camelot DEX ecosystem. By implementing this strategy, Campie intends to create a lasting positive impact on Arbitrum, fostering its continued growth and adoption even beyond the conclusion of the STIP period.
CMP Airdrop
Participants in the GRAIL RUSH events are entitled to share 3% of the total supply of Campie’s CMP token. CMP will be distributed via airdrop to users who convert their GRAIL into mGRAIL through this initiative. It should be noted that users who participated in the STIP GRAIL RUSH #1 will also share in 3% of the CMP supply as an airdrop.
CMP IDO Allocation
mGRAIL holders and stakers are entitled to share 45% of the upcoming CMP token IDO.
STIP GRAIL RUSH #2 Access
To ensure that th STIPe GRAIL RUSH #2 event is accessible to everyone on Arbitrum, users can effortlessly purchase GRAIL and convert their assets on Campie with just a few clicks. The STIP GRAIL RUSH #2 presents a time-limited opportunity for GRAIL holders to convert their assets on Campie and earn additional rewards in the form of ARB tokens plus CMP airdrop in the future. By participating in the GRAIL RUSH, users can not only maximize the potential of their assets but also benefit from the exclusive ARB rewards offered by Campie.
Convert GRAIL
About Campie: Campie is a groundbreaking SubDAO, created by Magpie, that is dedicated to supporting the long-term development of Camelot Exchange. Built under the principles of Camelot’s design, it amplifies the platform’s central functionalities. The primary focus of Campie is to lock GRAIL tokens as xGRAIL, which provides access to numerous benefits within the Camelot Ecosystem. Thanks to this approach, the platform is able to offer enhanced passive income for liquidity providers, cost-effective governance power for Camelot voters, and the opportunity for GRAIL holders to earn passive income without any mandatory lock-up period.
