The third installment of the STIP GRAIL RUSH has commenced, propelling our journey forward with the STIP from Arbitrum. Campie has secured an allocation of 300,000 ARB tokens, valued at ~$600,000. These are being strategically distributed through the Arbitrum network, with a significant portion earmarked to incentivize the blackholing of GRAIL tokens from Camelot DEX via STIP GRAIL RUSH #3.
The STIP GRAIL RUSH #3
The meticulously designed STIP GRAIL RUSH #3 aims to encourage users to convert their GRAIL tokens into mGRAIL through Campie, offering 100,00 ARB tokens as a rewards for their participation. mGRAIL, Campie’s innovative version of the GRAIL token, empowers users to earn revenue share from Campie without being subject to any lockup period. This program is strategically aligned to bolster Campie’s xGRAIL holdings within Camelot, thereby enhancing the platform’s effectiveness and core functionalities. As a token of appreciation, active participants who contribute to the growth of Campie’s xGRAIL holdings will be duly rewarded with ARB tokens. Additionally, to further incentivize participation, 3% of the total CMP token supply will be distributed as an airdrop among participants from GRAIL RUSH events.
It is important to note that once a user converts GRAIL to mGRAIL, this conversion is permanent and cannot be reversed. However, recognizing the need for flexibility, Campie intends to launch an mGRAIL-GRAIL liquidity pair on secondary markets, such as Camelot DEX. This pool will provide users with the opportunity to trade mGRAIL back to GRAIL tokens at market rates. This secondary market option offers users the flexibility to manage their mGRAIL tokens effectively and adjust their token holdings based on their preferences.
How to join the STIP GRAIL RUSH #3?
To participate in the STIP GRAIL RUSH #3 and reap its rewards, users simply need to convert their GRAIL tokens into mGRAIL on Campie. Campie has allocated 100,000 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 #3 presents a time-sensitive opportunity for users to maximize their rewards. This event will span a limited duration of five days, emphasizing the importance of converting GRAIL holdings within the specified timeframe to fully capitalize on the rewards offered.
The STIP GRAIL RUSH #3 Reward Structure
In the STIP GRAIL RUSH #3, the allocation of ARB rewards to participants is directly proportional to the amount of GRAIL they convert into mGRAIL. The rewards are meticulously organized into brackets, ensuring that as participants surpass a particular bracket, the rewards for subsequent brackets are determined by the cumulative GRAIL tokens converted. This structure encourages users to convert larger amounts of GRAIL, enabling them to progress to higher reward brackets and secure more substantial rewards. Participants have the flexibility to execute multiple transactions to increase their converted GRAIL amount, thereby enhancing their chances of reaching higher reward brackets
Brackets of Rewards:
Example
1. User A converts 0.5 GRAIL
User A will receive:
- 200 ARB * 0.50 GRAIL = 100 ARB + 0.50 mGRAIL
2. User B converts 50 GRAIL
User B will receive:
- 200 ARB * 1 GRAIL = 200 ARB + 1 mGRAIL
- 210 ARB * 4 GRAIL = 840 ARB + 4 mGRAIL
- 230 ARB * 15 GRAIL = 3,450 ARB + 15 mGRAIL
- 260 ARB * 30 GRAIL = 7,800 ARB + 30 mGRAIL
By converting 50 GRAIL tokens, User B will receive 50 mGRAIL + 12,290 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 #3, 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 #3 will receive the entirety of their earned ARB rewards directly credited to their wallets.
The STIP GRAIL RUSH #3 represents a carefully orchestrated initiative aimed at blackholing GRAIL tokens through an innovative mechanism, while simultaneously augmenting Campie’s service offerings within the Arbitrum DeFi ecosystem. This strategic approach provides participants with attractive yields and cost-effective voting power, thereby incentivizing long-term commitment and fostering the sustained growth and stability of the Camelot DEX ecosystem. By implementing this strategy, Campie seeks to create an enduring positive impact on Arbitrum, extending well beyond the STIP period and contributing significantly to the overall success and widespread adoption of decentralized.
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, and #2 will also share in 3% of the CMP supply as an airdrop.
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.
