# Introduction
Step into AirPuff, the beacon of Airdropfi, where airdrop rewards are not just farmed but amplified to unprecedented levels. Here, we leverage deep market insights and trend analysis to craft the most effective airdrop farming strategies. Uniting passionate airdrop enthusiasts, reward maximizers, and yield hunters, we form a formidable community focused on maximizing airdrop rewards. Together, we navigate the vast oceans of airdrops, aiming for the highest gains with every drop.
Through our strategies, we optimize the timing, allocation, and participation in airdrops to ensure maximum gains. Our algorithms adapt in real-time to market conditions, swiftly adjusting strategies to seize opportunities and mitigate risks. With AirPuff, it's not just about farming airdrops; it's about leveraging the immense capabilities to exponentially increase your gains with every drop.
### Our Mission - Elevate Value of Airdrop
At AirPuff, our mission goes beyond the traditional concept of airdrops. We aim to cultivate a vibrant community that boosts the value and potential of airdrops for everyone involved. As we embark on this journey, we're rolling out innovative strategies designed to enhance your airdrop experience and maximize your rewards. These strategies will help you skillfully navigate the ever-changing airdrop landscape with effectiveness and adaptability.
To strengthen our community and ensure rewards are distributed wisely, we're excited to launch the AirPuff Guild. This dedicated guild will act as a central hub for airdrop enthusiasts to connect and thrive. It will also oversee the management and distribution of referral bonuses, guaranteeing that rewards are shared fairly among those who help our community grow.
Together, we stand as a unified force, ready to capture even greater rewards from upcoming projects. With our strategic approach and the supportive network of the AirPuff Guild, we're setting the stage to lead the next wave of the airdrop evolution.
### Restaking & Liquid Restaking
Our journey begins with an emphasis on restaking and liquid restaking markets, recognizing their significant potential. The restaking sector, especially with platforms like EigenLayer, is poised to distribute over $2 billion in airdrop value to participants. Additionally, the liquid restaking space offers vast opportunities for airdrop collectors to earn substantial rewards. AirPuff is here to ensure you're well-prepared to take advantage of these opportunities.
### L1 & L2 blockchains
The potential for valuable airdrops extends to Layer 1 and Layer 2 blockchain projects. Notable chains such as Blast and Zircuit are shaping the future of the crypto ecosystem, and AirPuff is at the forefront, ready to capture the largest rewards for our users in this evolving landscape.
### Stablecoins
Stablecoins are crucial for both centralized exchange trading and decentralized finance, acting as a bridge for transactions. Despite the dominance of major players like USDT and USDC, these options have their limitations, including centralization concerns and limited rewards for holders. Projects like Ethena aim to address these issues, seeking to capture a significant portion of the stablecoin market. Other rising stablecoin projects are also looking to enhance value for traders and DeFi users, often by airdropping governance tokens to early supporters. AirPuff positions itself to maximize the returns from these airdrops for our users, inviting you to be part of the stablecoin evolution.
### Solana & other non-EVM Ecosystem
Beyond Ethereum's ecosystem, the rapid expansion of the Solana network offers unique airdrop opportunities with potentially high returns. The growing Solana & other non-evm ecosystem presents lucrative prospects for airdrop enthusiasts. AirPuff is not limited to Ethereum; we're expanding our search to include promising ecosystems like Solana to maximize value for our community.
## Why AirPuff?
### **Buffs: For Users Bullish on Airdrop Values**
AirPuff is tailor-made for users who strongly believe in the value of points from underlying protocols and are willing to take a calculated risk to leverage and speculate for enhanced returns. AirPuff provides a seamless, one-click solution for individuals optimistic about the values of points and airdrops, enabling them to leverage their positions and maximize potential gains. Users can leverage up to 15x, earning 15x the points and underlying yields.
### **Lending: For Users Seeking Stable Returns**
AirPuff also caters to users who seek for a stable yet high yield on ETH deposits. By charging leveraged points farmers a higher-than-traditional-market interest rate and channeling back to lenders, AirPuff creates a win-win scenario. The interest rate received is tied to the utilization rate, allowing lenders to capitalize on the wave of farming when more leverage points farming occurs. This model benefits both risk-averse depositors seeking stable yields and points hunters looking to maximize their opportunities.
##
# Airdrop 2.0
## Get Ready with Airdrop 2.0
The landscape of restaking protocols and Layer 2 blockchains is rapidly evolving, with an increasing number embarking on airdrop campaigns as a prime strategy to gain traction. These airdrops, once seen as simple gestures of goodwill, have transformed into pivotal sources of wealth.
In this new era of "Airdropfi," AirPuff emerges as a leader, enhancing the value of airdrops for users with minimal investment. As the airdrop landscape becomes more sophisticated, AirPuff's strategic methods aim to secure valuable bonuses and multipliers for our members. We're committed to identifying the best airdrop opportunities, focusing on market trends, project fundamentals, and community behaviors. This gives our users a competitive edge, optimizing their participation for maximum rewards. By joining AirPuff, you tap into a pool of airdrop points gathered by our community, ensuring ongoing advantages for $APUFF holders.
With AirPuff, you're well-equipped to explore the dynamic world of airdrops, backed by a community-focused platform that prioritizes maximizing returns. As the significance of airdrops escalates, our community is poised to reap substantial benefits from our collective expertise and strategic foresight.
## **Adapting to the Shift in Airdrop Criteria**
Airdrop strategies have significantly transformed in the Airdrop 2.0 era. No longer are rewards based simply on activity levels or volume; now, referrals and TVL are key factors in determining airdrop rewards. Projects like Manta, EigenLayer, and various Liquid Restaking protocols exemplify this new phase, where the depth of your engagement and the extent of your network matter more than ever. This shift can be daunting for average users with limited capital, facing the challenge of numerous appealing projects launching airdrops yet having finite resources to participate.
We recognize these challenges and are poised to navigate them with you. AirPuff emerges as a frontrunner in the Airdropfi arena, aiming to unlock the vast potential within this space. With a conservative estimate placing the combined TVL of these protocols at $5 billion, even capturing 5% of this market could position AirPuff with a notable $250 million in TVL. This underscores the vast, untapped potential of the Airdrop 2.0 and Airdropfi markets, highlighting AirPuff's ambition to lead in this innovative landscape.
## Airdrop is HUGE
Airdrops have gone from being nice little extras for early supporters to life-changing opportunities. Being early to support can now mean a chance at serious wealth. In 2023 alone, the crypto world saw $4.6 billion worth of tokens airdropped, with a staggering $21.7 billion from 2020 to 2023. This trend is only expected to grow as more people dive into crypto.
### Arbitrum
One of 2023's largest airdrops was ARB tokens to Arbitrum's early users, distributing nearly $2 billion in value, with most users getting at least roughly $2000 worth of tokens into their bags even with just small initial investments. This shows just how rewarding airdrops can be, turning small initial investments into significant gains.
### EigenLayer
In 2023, EigenLayer shook things up by rolling out its points system, teasing a future token airdrop to thank its early backers. With its impressive standing as the second-largest project by TVL in the DeFi world, the potential impact is off the charts. It's set to send shockwaves through both the DeFi and airdrop scenes. With a cautious eye on the market, it's expected that at least $4 billion in tokens will be handed out to its community. EigenLayer is gearing up for what could be the second-largest airdrop event ever, promising its users not just significant returns but also enhancing their yield-earning capabilities.
### Etherfi
Beyond the points from EigenLayer, there's more good news with Etherfi loyalty points up for grabs. Etherfi's initial airdrop wave has already made a splash, delivering $180 million in value to its community, against a backdrop of a whopping $3 billion in FDV. There's more on the horizon, too – an additional 5% of its tokens are earmarked for the second round of airdrops, poised to distribute roughly $150 million in value. It's like free money waiting to be claimed, further enriching the rewards for Etherfi supporters.
# How does AirPuff Work
AirPuff caters to two distinct user types, each with unique preferences and objectives.
1. **Lenders:**
* For users who prioritize immediate and stable returns over speculation on airdrops or points, AirPuff offers a "Lending" option. These participants have the option to lend out their capital, gaining access to additional rewards (Average \~20% lending APR), providing a seamless avenue for those who prioritize tangible returns.
2. **Leverage Airdrop Farmers:**
* On the other end of the spectrum are users bullish on airdrops or points. AirPuff enables them to engage in under-collateralized leverage, empowering them to speculate on the value of airdrops or points. This feature appeals to those seeking to capitalize on the potential appreciation of airdrop assets, offering a dynamic and speculative dimension to the platform.
## **Key Features**
* **Under-Collateralized Leverage:** Empower leverage enthusiasts to strategically position themselves for speculation on airdrop and point values without the need for excessive collateral.
* **User-Friendly and Competitive Borrowing Rates:** AirPuff stands out with its simple and fair interest rate model, offering an optimal balance of risk and reward without the complexity.
* **Sustainable Lending Yield:** Implement a stable interest rate for leveragers, offering lenders a sustainable, low-risk, and high-yield alternative. This dual benefit ensures a balanced and rewarding experience for both user types.
* **Zero Real Fees:** AirPuff adopts a Zero Interest Rate Spread policy, ensuring no fees are collected by the protocol between borrowers and lenders. This approach fosters a more equitable and advantageous environment for all users.
* **Inclusive Points Farming with Stablecoins:** By enabling stablecoin deposits and loans, AirPuff expands the points farming opportunity beyond ETH holders. This approach allows for more diversified strategies, including leveraging stablecoins to take long positions on ETH, thus amplifying potential rewards.
* **Shared Points Rewards:** Both lenders and veAPUFF holders benefit from a portion of the points collected by borrowers—10% and 5% respectively—merging the advantages of high-yield lending with the rewards of airdrop farming.
* **Expansion Possibilities:** Positioned at the forefront of the evolving DeFi landscape, AirPuff has the flexibility to adapt and grow. With the increasing trend of leading projects conducting their airdrop programs, AirPuff holds infinite possibilities for expanding its coverage, ensuring ongoing relevance and value for its users.
* **AI-Empowered Strategies:** AirPuff harnesses AI technology to pinpoint the most promising and profitable airdrop opportunities for our users. By analyzing market trends, our AI enables users to adopt the best strategic positions—whether long or neutral—to maximize their airdrop earnings.
## **Mechanism Overview**
1. **Lending:** Lenders contribute lending capital to the AirPuff to earn a stable interest rate on their deposits.
2. **Leveraging:** Leveragers have the flexibility to choose their desired leverage size (up to 15x) and deposit the corresponding collateral into the system.
3. **Token Minting:** AirPuff combines the borrowed capital and user deposits to mint the protocol token (In our first strategy, it will be LRT)), representing leveraged positions within the ecosystem.
4. **Interest Compensation:** Leveragers pay a stable interest rate and point split to lenders as compensation for utilizing their funds to amplify their positions. This ensures a fair and mutually beneficial relationship between lenders and leveragers.
# Airdrop Claim Arrangement
## **Buffers' Arrangement**
**Scenario 1 - Point Integration with Partnered Protocols Completed**
* Our main priority is to finalize the integration with various LRT protocols, synchronizing all data and points of Airpuff's users with these protocols. Once the integration is complete, users will be able to view their points from the official dashboard and directly claim their airdrops on the respective platform.
* E.g. Renzo Protocol - Airpuff users can go to Renzo’s official dashboard to check their points and claim their airdrop directly from Renzo.
**Scenario 2 - Point Integration with Partnered Protocols is not completed**
* Alternatively, if integrations are not completed before the airdrops and direct claims are not available, Airpuff team will be claiming on behalf of all users via our contract address. The airdrop will be available for claim by individuals on our website within 24 hours.
**Step’s to claim**
1. Visit our official website and connect your wallet
2. Click on Dashboard and then click “Points”
3. Scroll down to the corresponding LRT protocols and then click claim to secure your airdrop
## **Lenders and veAPUFF Arrangement**
* We aggregate all points shared by leveragoors. After airdrops are released, the corresponding tokens will be claimed via our Buff’s contract address and prepared for distribution to both lenders and veAPUFF holders.
* Please note that not all airdrops (or points) are distributed to lenders and veAPUFF holders; distribution depends on the specific agreements with integrated protocols. Only those airdrops listed under “Accumulated Points” on the lenders’ page are included for distribution.
### **Lenders**
* The lender’s airdrop will be claimable within 10 days on our website.
* For lenders, the airdrop distribution will be allocated on a pro-rata basis among different lenders.
* The allocation percentage is based on the lender’s time-weighted average deposit value in the lending pools over the total deposited value.
* Lender’s airdrop allocation = Amount of airdrop to all lenders x lender’s time-weighted average deposit value / total lender time-weighted average deposit value
* Lenders will earn a portion of the airdrop based on their contributed assets over time.
### **veAPUFF**
* The airdrop will be allocated to veAPUFF holders when the locking feature commences.
* veAPUFF lockers will earn a portion of the airdrop based on their veAPUFF holdings over the total supply.
* veAPUFF locker’s airdrop allocation = veAPUFF holding / total supply of veAPUFF \* total airdrop amount from 5% Leveragor’s point sharing
* Random snapshots will be taken of veAPUFF balances.
* The detailed distribution schedule of the airdrop varies case by case, and it might be distributed as the native token/USDC.
***
## **Frequent Asked Questions (FAQ)**
1. If point integration is successful, where should I claim the airdrop?
* Visit the official website of the corresponding platform and claim your airdrop directly.
2. Will the points balance displayed on the official dashboard the same as what appears on the AirPuff dashboard?
* If integration is completed, you will see your points on the official dashboard of the corresponding protocol and it's synced with our point’s database.
3. What if the point integration is not completed when the partnered protocols announced the airdrop? where should I go to claim?
* In that case, our team will claim the corresponding airdrop from the partnered protocols and distribute it to our users based on the points they earned.
4. How do you distribute the airdrop? What are the metrics?
* We will claim the airdrop for all users using our contract address. The distribution of the airdrop will be done on a pro-rata basis, meaning your allocation is based on the points you earned compared to the total earned points by all users in a particular buff.
5. What about the lenders' allocation of the airdrop?
* The lenders' allocation will be claimed under our address, and the allocation for a lender depends on the time-weighted average.
6. When will lenders be able to claim the airdrop?
* Lenders can claim the airdrop within 10 days after the official claim function is commenced.
7. Where can I claim for the lender's allocation?
* Visit our dashboard page and go to the "Points" tab. You will find your allocation there and can claim it.
8. What is the coverage period for the time-weighted average?
* The time-weighted average coverage period is from the beginning of the lending vault going live until Renzo's snapshot date.
9. When will veAPUFF holders receive the airdrop?
* The exact timing for veAPUFF holders to receive the airdrop will be announced case by case.
10. How is the allocation of the airdrop determined for all veAPUFF holders?
* The allocation of the airdrop for veAPUFF holders is based on the percentage of veAPUFF holdings to the total supply of veAPUFF. VeAPUFF holders will share the pool of airdrops accordingly.
# $APUFF Launch Odyssey
We have planned the launch of $APUFF in four distinct phases, each with its own set of objectives. Participating in each phase will provide you with unique opportunities to earn exciting benefits.
* [Phase 1: Points + Referral System](#phase-1-points--referral-system)
* [Phase 2: $APUFF Token Generation Event](#phase-2-usdapuff-token-generation-event)
* [Phase 3: $APUFF staking & emission](#phase-4-apuff-staking)
* [Phase 4: PuffAI Launch](#phase-3-puffai-launch)
### **Phase 1: Points + Referral System**
AirPuff Points will play a crucial role in decentralized governance, with 7% of the $APUFF total supply allocated for distribution to reward our dedicated community and supporters, in addition to the points and airdrop rewards from underlying protocols.
Starting from April 2nd, 2024, the launch of the AirPuff Points system will grant points to every participant in the AirPuff ecosystem. The quantity of points awarded will be based on the duration and corresponding pools deposited. There will be a total of 2 seasons, with the first season distributing 4% of the $APUFF.
### **Phase 2: $APUFF Token Generation Event**
In Phase 2, we will have the Token Generation Event in a Liquidity Bootstrapping Pool (LBP) model on Fjord Foundry. The LBP model is a revolutionary approach in the digital asset space, aimed at ensuring fair and transparent token launches. It operates on a unique high-to-low pricing mechanism, similar to a Dutch Auction.
In this model, token prices begin at a higher value and gradually decrease over time. This strategic choice helps mitigate the influence of sniper bots and large investors (whales) who may manipulate the market. Instead, participants can engage in a community-driven price discovery process, purchasing tokens at a price point that they consider fair and equitable.
LBPs represent a significant advancement in creating a balanced and inclusive environment for token distribution. By utilizing this innovative model, we aim to foster a level playing field, allowing individuals to actively participate in the token generation event and contribute to the community-driven pricing process.
We will **make available 15% of the total supply (150,000,000 APUFF.)** in the TGE, and the community will have 3 days to contribute ETH to the pool in return for the APUFF token.
**Participation Link:** [**https://app.v2.fjordfoundry.com/pools/0xc2A81026e9698918923896cC46d706a7eFaB092d**](https://app.v2.fjordfoundry.com/pools/0xc2A81026e9698918923896cC46d706a7eFaB092d)
* **LBP Date: From** April 8 @ 12PM UTC to April 11 @ 12PM UTC.
* **Duration:** 3 days (72 hours)
* **Supplied tokens:** 150,000,000 (15% of the supply)
* **Chain:** ETH Mainnet
* **Start Weights:** 99% $APUFF / 1% ETH
* **End Weights:** 1% $APUFF / 99% ETH
* **Minimum purchase amount:** None
* **Contribution Currency:** WETH, USDT, USDC
* **Vesting:** Immediately liquid and claimable at the end of TGE
Immediately following the conclusion of the LBP on Fjord, the TGE will commence. The Airpuff team will set up a liquidity pool on Ethereum Mainnet on Uniswap with a portion of the funds raised from the LBP. 100% of tokens will be unlocked at TGE for LBP buyers.
{% hint style="info" %}
LBP joiners will be rewarded with a one-off 250 AirPuff points, distributing at the end of [Buff Boost](/airpuff/points-and-referrals/buff-boost)
{% endhint %}
### **Phase 3: APUFF staking**
Our innovative ve-tokenomics model is designed to enhance the utility of the $APUFF token and boost the protocol's decentralization.
By staking your APUFF tokens, you can unlock veAPUFF, taking advantage of exclusive benefits. The amount of veAPUFF allocated to you depends on the duration and quantity of your APUFF token lock-up, with a maximum lock-up period of up to two years.
vePUFF also plays a vital role in determining eligibility for APUFF emissions across lending and strategy vaults. To qualify for $APUFF emissions, users are required to lock a minimum of 5% of their position's USD value in veAPUFF. This ensures that the price of veAPUFF aligns with the current market price of $APUFF, promoting long-term engagement and stabilizing the value of $APUFF.
veAPUFF is poised to be the ideal token for airdrops, featuring its 5% points sharing from leveraged positions. This unique attribute grants AirPuff users the advantage of experiencing airdrop rewards indirectly, bypassing the need for direct engagement in the underlying protocols and strategies.
### **Phase 4: PuffAI Launch**
We are thrilled to announce the launch of PuffAI! PuffAI is our groundbreaking product that leverages the power of AI algorithms to optimize airdrop strategies based on individual investors' risk appetites and personal market views.
By combining cutting-edge AI analysis of market data, volatility, and trends with users' unique risk appetites and insights, PuffAI provides tailored recommendations on portfolio constructions and advanced strategies. Our AI models, fueled by historical data analysis, user input, and machine learning techniques, accurately gauge each individual's risk tolerance and market perspectives.
With PuffAI, you can expect personalized recommendations that maximize reward potential based on your distinctive profile. Whether you're looking to pursue a delta-positive strategy for potential gains or adopt a more neutral approach, our AI-powered recommendations will guide you towards optimized investment decisions.
# Points & Referrals
In addition to the Airdrop Points (including LRT protocols, EigenLayer Points and many more), AirPuff introduces its own points system, enabling users to accumulate rewards across three layers simultaneously. Our innovative referral program further incentivizes user engagement, fostering a strong and interconnected community within the protocol.
# AirPuff Points
AirPuff Points will play a role in decentralized governance. 7% of the $APUFF total supply will be distributed, designed to further reward our dedicated community and supporters, on top of the points and airdrop rewards from underlying protocols. There will be a total of 2 seasons, with the first season lasting for 1 month, ending at April 30th, 2024 and distributing 4% of the $APUFF.
With the launch of AirPuff Points system, starting from April 2nd, 2024, every participant in the AirPuff ecosystem will receive points. The quantity of points awarded will depend on the duration and the corresponding pools deposited.
Season 1 Participants can claim their airdrop rewards on May 30th, 2024. Initially, 2% of the airdrop rewards will be unlocked immediately, while the remaining rewards will be monthly vested over a period of 3 months.
## Earning AirPuff Points
### **Lending Activities:**
Lenders accumulate AirPuff Points alongside receiving notable interest yields and points shares from their lending. All lending transactions use ETH as the unit of account.
* **ETH, stETH Lending:**
* Gain 20 points per day for every 0.1 ETH deposited. Points are tallied daily at random snapshot moments.
* **ARB, USDT, USDC, USDC.e Lending:**
* Deposits are converted to ETH equivalent. Earn 10 points daily for each 0.1 ETH equivalent. The conversion uses the average price from the Coingecko API, updated hourly.
* For instance, if User A deposits 100 ARB with an average daily ARB to ETH rate of 1000 ARB per ETH, they receive 100/1000/0.01 = 10 point per day.
### **Buffs & Air-con:**
* Earn 5 points per day for every 0.1 ETH of collaterals deposit. Points are updated daily at random snapshot times.
## **Missions:**
Users can complete mission to receive additional one-off points and new invite codes.
Mission Tier
Requirement
Rewards
1
Refer 3 friends
One-off 50 points + 5 invite codes
2
Deposit in Both Buff and Lend
One-off 100 points + 5 invite codes
3
Get 10000 points
One-off 1000 points + 5 invite codes
4
Deposited for more than 20 days
One-off 2000 points + 5 invite codes
5
Team deposits more than 500 ETH
One-off 5000 points + 5 invite codes
## **Early Bird:**
Extra one-time points will be awarded for all deposits made before April 1, 2024. A snapshot will be taken at that time to determine eligibility.
## **Cross Chain Integration**
Points displayed on user dashboards aggregate earnings from both Arbitrum and Ethereum for convenience.
# AirPuff Referral
AirPuff's referral system is designed to reward users with referral points and daily point boosts based on collective achievements, making it easier for those with smaller deposits to benefit significantly from their and their group's deposits.
## **Referral Points**
When you refer a new user to AirPuff, you're rewarded with **20% of the points that your referral earns**, without affecting the accumulation of points for the referred user. This means the more active your referrals are, the more points you gain.
### Referral Codes
When you join or form a new team, you'll receive a referral code, designed for a single use. Users will have to complete different missions to unlock more referral codes
* Joining someone else's team rewards you with 3 referral codes.
* Creating your own team entitles you to 5 referral codes.
## **Teams**
In AirPuff, you can either form your own team or join an existing one, with benefits for both team leaders and members.
### **Joining a Team**
By entering a referral code, you automatically join the team of the person who referred you. Each user has a unique referral code, which might differ from the team name. The system seamlessly adds you to your referrer’s team.
### **Leading a Team**
Opting to lead a team opens up opportunities for additional bonuses. Your referral code will not only bring others directly to your team, but also those they refer, expanding your team's reach and potential rewards.
{% hint style="info" %}
Once you're part of a team, you cannot switch teams or start a new one.
{% endhint %}
## **Team Multiplier Bonuses**
Both team leaders and members can unlock bonus percentage points on their daily earnings as their team hits certain total deposit milestones, measured in ETH:
| Total Team Deposits | Team Leader Boosts | Team Member Boosts |
| ------------------- | ------------------ | ------------------ |
| More than 10 ETH | 5% | 2% |
| More than 50 ETH | 7.5% | 4% |
| More than 100 ETH | 10% | 6% |
| More than 500 ETH | 20% | 12% |
| More than 1000 ETH | 30% | 15% |
# Buff Boost
To celebrate the launch of the AirPuff Points System, we are introducing Buff Boost from April 2nd to April 16th, 2024.
During this period, for every 1 ETH deposited in the ETH lending pools (Ethereum / Arbitrum / Mode), you will receive 500 bonus AirPuff points or the proportionate amount. To prevent looping, the bonus points will be distributed in a lump sum after the Buff Boost ends, and only the net deposit will be eligible for the bonus points.
But that's not all! We're boosting all AirPuff points by 2x for everyone during the Buff Boost. The 2x boost will be automatically applied, and your points will be updated daily.
Sit tight and enjoy the Buff!
# Security
Security is a fundamental pillar at AirPuff. Recognizing the paramount importance of protecting user assets and information in the decentralized world, we've committed to the highest security standards through the adoption of rigorous security protocols.
## **Smart Contract Audits**
To identify and mitigate any vulnerabilities, coding errors, or potential loopholes, smart contract audits are vital. These comprehensive reviews of our codebase are conducted by seasoned auditors to ensure it's fortified against potential threats. Such audits significantly reduce the likelihood of hacks, bugs, or any unforeseen issues, safeguarding against financial and reputational damage.
**AirPuff's smart contracts have been audited by** [**Zokyo**](https://twitter.com/zokyo_io) **and** [**CD Security**](https://twitter.com/CDSecurity_), with reports available here:
* [CD Security Audit Report](https://github.com/Airpuff/Audit-Report/blob/main/AirPuff-Report.pdf)
* [Zokyo Audit Report](https://github.com/Airpuff/Audit-Report/blob/main/Zokyo%20Audit%20Report.pdf)
## **Bug Bounty Program**
We've initiated a bug bounty program, covering both our front-end interface and smart contracts, to tap into the expertise of ethical hackers and security researchers. This initiative encourages the discovery and reporting of vulnerabilities, further bolstering our defense mechanisms.
* [Active on Hackenproof](https://hackenproof.com/programs?title=AirPuff)
# Roadmap
## 2024 Q1:
* **Liquidity Bootstrapping**
Multiple Liquidity Bootstrapping campaigns will be initiated to attract additional capital for deployment on AirPuff. The goal is to ensure a seamless borrowing and lending experience for users.
* **Ethereum Mainnet Deployment**
While the Arbitrum deployment marks the initial step, AirPuff's ultimate destination is the Ethereum Mainnet, where the majority of liquidity and volume resides. Launching on Arbitrum first ensures a smooth and user-friendly mechanism before transitioning to Ethereum Mainnet.
## Q2
* **Broadening the Scope of LRT Airdrops (Swell and Puffer)**
AirPuff is set to broaden its reach into LRT Airdrops across Liquid Restaking protocols, such as Swell and Puffer. This expansion offers users more opportunities to leverage their optimism about Restaking's future, enhancing their potential to earn significant rewards.
* **Expansion to Stablecoins and Layer 2 blockchains Airdrop farming**
As the number of airdrop campaigns grows across various projects, AirPuff plans to broaden its coverage beyond LRT and EigenLayer-related protocols. The scope will encompass numerous other protocols as requested by the community, catering to a wider range of demands.
* **Token Generation Event (TGE)**
Towards the early Q2, AirPuff will launch its native token, aiming to decentralize governance and reward its most supportive community members with protocol earnings.
## Q3
* **Expansion to Other Chains Airdrops**
Cross-chain farming is a key objective for AirPuff. Recognizing the wealth of promising projects across different chains, AirPuff aims to extend its reach beyond Ethereum and Arbitrum. This expansion will enable leverage users and lenders to optimize their liquidity usage across multiple chains for maximum Airdrop rewards.
* **Non-Points Airdrops**
While points systems have been prevalent in rewarding project communities, AirPuff anticipates an increase in projects experimenting with innovative reward mechanisms. To accommodate this trend, AirPuff will broaden its coverage to include these projects, offering a comprehensive solution for users.
# Lending
AirPuff lending pools play a crucial role in supporting leveraged points farming strategies by providing essential capital for borrowings. In the initial stage of AirPuff, 6 types of lending pools will be available: ETH, stETH, ARB, USDT, USDC, and USDC.e lending pools.
Lending pools will cater to points farming across all three Liquid Restaking protocols—Ether.fi, KelpDAO, and Renzo. For pools beside from ETH and stETH, the lending capital will be swapped into ETH (or stETH, depending on the underling protocol), to combine with leverage users deposits to mint LRTs.
### Supporting Pools
AirPuff will support 6 type of assets for lending pools as our initial launch, including ETH, stETH, ARB, USDT, USDC and USDC.e. More assets will be covered in the future to support the demand of leverage farming.
Overview
Interest Rates
# Overview
AirPuff lending pools play a crucial role in supporting Airdrop / Points farming strategies by providing essential capital for leveragoors. In the initial stage of AirPuff, 6 types of lending pools will be available: ETH, stETH, ARB, USDT, USDC, and USDC.e lending pools.
Lending pools will cater to points / airdrop farming across all protocols we integrated. For pools beside from ETH and stETH, the lending capital will be swapped into ETH (or stETH, depending on the underling protocol), to combine with leverage users deposits to mint / swap corresponding tokens.
## **Mechanism**
Participants engaging with AirPuff's lending platform benefit from hourly lending interest following a non-rebase model, aligning with the ERC-4626 standard. This model ensures a progressive increase in the lending token price over time.
1. Leverage users deposit collateral and choose their leverage size to request lending capital.
2. AirPuff matches the borrowing request, ensuring sufficient liquidity in the lending pool.
3. Borrowed capital combines with the deposited collateral to mint / swap the corresponding tokens.
4. Lenders receive a stable interest rate, with value accruing into each lending token.
## **Features**
* **Protective Nature:** Continuous monitoring of each leveraged position's Debt-to-Value ratio ensures prompt triggering of the liquidation threshold, prioritizing the protection of lending principals.
* **Stable and Higher-than-Market Rate Real Yield:** Lenders are compensated with a stable and higher-than-market interest rate due to the engagement in high-risk speculative activities related to points yield.
* **Hourly Yield Compounding:** Interests are distributed into the value of lending tokens on an hourly basis, allowing for effective compounding of yields, rather than simple interest rates.
* **Points Sharing:** Lenders in AirPuff receive 10% of the points generated by leveraged activities, offering a blend of high and stable returns along with the potential for airdrop earnings. This allows lenders to gain points through various assets, including stablecoins.
{% hint style="info" %}
Buffs eligible for the 10% points sharing will be evaluated individually to safeguard lenders against potential risks.
{% endhint %}
# Interest Rates
Lenders engaging with AirPuff's lending platform will enjoy hourly lending interest within a non-rebase model, adhering to the ERC-4626 standard. This ensures that the lending token price progressively increases over time. Upholding a protective nature, lending capital remains safeguarded even during the liquidation events of leveraged positions. This guarantees that lenders can consistently receive their capital along with accrued interests.
## **Interest Rate Model:**
For borrowers, the interest rate is determined by the utilization of the corresponding lending pool. The higher the utilization rate, the greater the interest rate, encouraging more lending capital or prompting borrowers to close their positions.
AirPuff will be collecting zero interest spreads from lenders, ensuring that 100% of the interest paid by borrowers is directly passed on to lenders, rewarding them for their contribution to the ecosystem.
* **0-80% Utilization Rate:** Interest rates will grow linearly from 5% to 15%.
* **80-100% Utilization Rate:** Interest rates will experience a linear increase from 15% to 45%.
The aforementioned model provides a guaranteed income for lenders across different utilization rates. This two-tiered approach ensures that interest rates are responsive to the dynamics of the lending pool utilization. As the utilization rate approaches its upper limit, the interest rates incrementally rise. This approach strikes a balance between incentivizing lending capital and maintaining a fair and sustainable lending ecosystem. The base rate will be reviewed and discussed on a monthly basis.
While the above formula establishes the base interest rate for each lending pool, we also consider the potential APR that borrowers may receive from the Buffs. This helps us better reflect the real demand for borrowing. For example, if the implied APR is significantly higher than the borrowing rate, the utilization rate will constantly remain at a high level. This is not a healthy situation for lenders.
When the utilization rate exceeded 80% in a consecutive 3 days, an Additional Rate Index will be applied into the interest rate curve. The Additional Rate Index will be reviewed and discussed on a weekly basis.
Interest Rate = 5 + (Max (80, (UR / 80))) \* 10 + ((MIN(80, (UR - 80))) / 20) \* 30 + ((AdditionalRateIndex ^ (UR / 80)) if (UR > 80% for 3 consecutive days)
This approach ensures that our lending ecosystem remains dynamic and adapts to market conditions while safeguarding the interests of lenders. We prioritize maintaining a fair and sustainable environment while providing borrowing opportunities at competitive rates.
# Buffs
The Buff strategies provide users with leveraged opportunities to amplify their airdrop rewards, offering enhanced potential for maximizing returns on their participation in airdrop campaigns and token distributions.
# Points Rules
## EigenLayer Points
EigenLayer, the foundational protocol underlying Liquid Restaking protocols, introduces its points system. Users earn both LRT points and EigenLayer Points, with a consistent calculation method across all Liquid Restaking protocols. Users receive 1 point per hour for each ETH staked, and for nominal participation measurement, all staked tokens, including restaked native ETH and Liquid Staked ETH, are equivalently calculated.
The market has witnessed speculation regarding the value and utility of these points. While it's not clear how points will turn into airdrops, people are still excited in the market and want to collect more points. In this landscape, AirPuff bridges the gap, providing a platform to maximize the value for points farmers.
## Liquid Restaking Protocol Points
| Underlying Protocol Points | Corresponding Buffs | Rules |
| -------------------------- | ---------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------- |
| Ether.fi Loyalty Points |
| 1 point for every 0.01 ETH staked per day |
| Kelp Miles |
rsETH (Arbitrum) rsETH (Ethereum)
| (Amount of ETH worth of LST)×(Number of days)×10,000 |
| Renzo ezPoints |
ezETH (Arbitrum) ezzETH (Ethereum)
| 1 Renzo ezPoint per hour for every ezETH they hold |
| BedRock Diamonds | uniETH (Ethereum) | 1 Bedrock Diamond per hour for each uniETH held. |
| Vector Reserve vPoint | svETH (Ethereum) | 1000 vPoints per 1 vETH or svETH |
| Swell Pearls | mswETH (Ethereum) | Receive 30 pearls per mswETH as a reward for your initial deposit, and earn up to 6 pearls daily for each mswETH. |
| EigenPie Points | mswETH (Ethereum) | 1 ETH Worth of LST Deposit = 1 Point / Hour |
## Stablecoins
| Underlying Protocol Points | Corresponding Buffs | Rules |
| -------------------------- | ------------------- | -------------------------- |
| Ethena Sats | sUSDe (Ethereum) | 2.4 Sats per day per sUSDe |
# How does it work
AirPuff empowers users to leverage their positions and farm points by strategically selecting the underlying protocol and Liquid Restaking token. Borrowing capital from lending pools, users can earn leveraged points from the underlying protocol and Eigenlayer while compensating lenders through a variable interest rate based on pool utilization.
## Leverage: Borrowing ETH
For buffs involving LRT, users can choose to borrow ETH, enabling them to maintain a neutral stance regarding ETH's price fluctuations—this means changes in ETH/USD won't impact their debt-to-value ratio or their risk of liquidation. Here’s how the deposit mechanism works:
1. Users select the preferred protocol for points farming and specify the leverage size and borrowing asset they want.
2. The necessary capital is sourced from the lending pool to meet the requested leverage amount.
3. The deposited and borrowed ETH are then merged and converted into the Liquid Restaking Token (LRT) using Kyberswap.
4. Interest accumulates on the leveraged position, causing the Debt-to-Value (DTV) ratio to increase until the position is adjusted, or it reaches the liquidation threshold.
{% hint style="info" %}
For buffs focusing on assets not related to ETH, like Ethena sUSDe, users must borrow related assets (i.e. Stablecoins in sUSDe case) to maintain a neutral position.
{% endhint %}
## **Leverage: Borrowing non-ETH**
Users can also choose to borrow non-ETH assets like stablecoins, enabling them to create a long position on ETH's price. This means that the increase in ETH/borrowing-asset price will reflect as an additional profit on user's position, bringing additional reward on top of the points and yield farmed.
1. Users select the preferred protocol for points farming and specify the leverage size and borrowing asset they want.
2. The necessary capital is sourced from the lending pool to meet the requested leverage amount.
3. The deposited and borrowed asset are then merged and converted into the underlying asset using Kyberswap.
4. Interest accumulates on the leveraged position, causing the Debt-to-Value (DTV) ratio to increase until the position is adjusted, or it reaches the liquidation threshold.
{% hint style="info" %}
However, it's important to note that for non-ETH borrowings, users will bear the associated price risks, which could potentially lead to liquidation events.
{% endhint %}
## **Withdrawal Mechanism**
Upon closing their positions, users' holdings are converted via Kyberswap to repay the borrowed assets and reclaim their collateral. AirPuff implements a slippage cap on these transactions to protect users against possible liquidity issues in certain pools. The process unfolds as follows:
1. The entire position undergoes a swap on Kyberswap, dividing into the debt portion and the initially deposited collateral.
2. The borrowed asset is first returned to the lending pool in its original form.
3. After subtracting any accrued interest, the leftover collateral is then returned to the user.
## Leveraging Points
AirPuff's innovative leveraging strategy opens the door for users to significantly amplify their points rewards, offering up to 15x leverage on rewards from both Liquid Restaking protocol points and Eigenlayer points. This potent approach allows users to magnify their potential rewards to new heights.
For those seeking a less aggressive strategy, opting for 1x leverage offers a way to avoid borrowing interest while still benefiting from point multipliers. This approach affords users the opportunity to earn three layers of points simultaneously: AirPuff points, LRT points, and EigenLayer points, enriching their rewards portfolio without the burden of additional costs.
It's important to highlight that leveraging involves sharing a portion of the earned points—10% with lenders and 5% with $APUFF lockers. This sharing mechanism is crucial for maintaining a balanced ecosystem, ensuring that lenders, AirPuff supporters, and leveragers alike share in the collective success. It's a strategic way to foster a symbiotic relationship within the AirPuff community, ensuring a fair distribution of rewards across the board.
# Air-Con
AirPuff Containers, or Air-cons, offer a simple and effective strategy for users who prefer not to engage in leveraged investments. These containers function as straightforward contracts that hold users’ deposits securely, bypassing the typical complexities and fees associated with DeFi platforms. This hassle-free approach encourages users to invest without worry, providing a clear, uncomplicated path to participating in airdrop benefits.
# How does it work
AirPuff Containers (Air-con) are designed for users who prefer not to use leverage on their holdings. These containers are straightforward contracts that securely hold user deposits without the complexity and costs typically associated with DeFi. This approach allows users to deposit freely and with confidence, knowing there are **no hidden fees or complications.**
## APUFF Containers
The $APUFF Containers facilitate the deposit of $APUFF tokens without any lock-up periods, enabling users to freely manage their investments. Depositors earn AirPuff points based on their holdings, calculated in ETH units. Specifically, users earn 5 points per day for every 0.1 ETH worth of $APUFF tokens deposited. Points are tallied daily at random snapshot times to keep the rewards distribution fair and updated.
## LRT Containers
Each LRT Container operates as a 1x strategy on the user’s position, suitable for depositing specific Liquid Restaking Tokens (LRTs) like ezETH for Renzo, weETH for Etherfi, and rsETH for KelpDAO. These containers allow users to benefit from AirPuff multipliers and earn AirPuff points simultaneously, all without the need for leveraging or incurring borrowing costs.
## PT Containers
Recognizing the untapped potential of idle PT tokens, AirPuff PT Containers are specially designed to optimize these assets. Users can deposit their PT tokens into these containers and earn AirPuff points throughout the duration of their deposit. Flexibility is a key feature here, as users can withdraw their PT tokens at any time, providing them with full control over their investments.
Through these AirPuff Containers, we aim to provide our users with simple, cost-effective strategies to enhance their airdrop rewards while maintaining complete flexibility and control over their investments.
# Air Booster
**Air Booster** is a mechanism designed to create a robust bribing ecosystem within our platform, offering an extra boost to $APUFF points with a maximum 7x boost. This system consists of three key elements: **Base Booster**, **TVL Booster**, and **Matching Booster**. Each element plays a distinct role in amplifying rewards for our users.\
\
**Air Booster = Base Booster + TVL Booster + Matching Booster**
**Base Booster:** This foundational element initializes reward mechanisms in new containers before significant Total Value Locked (TVL) or multipliers are established. It acts as the initial spark for more dynamic boosts. Every Air-con vault starts with a 1x Base Booster, and veAPUFF holders can vote on Base Booster settings up to 2x, directly influencing the bribing mechanisms and enhancing their strategic impact.
**TVL Booster:** This booster is directly connected to the TVL of a specific container, with a maximum 3x boost. The principle is simple: the more assets a container holds, the more negotiation power it has. This increased power allows us to secure more substantial rewards and incentives from our partners, enhancing the overall value proposition for our users.
1M - 3M TVL = 1x Booster
3M - 10M TVL = 1.5x Booster
10M TVL = 2.5x Booster
**Matching Booster:** The Matching Booster serves as a direct incentive for underlying protocols/chains, functioning as a **strategic bribe**. It encourages these entities to provide additional rewards to our containers, which we will match with $APUFF points, up to a maximum of 3x. When combined with the Base and TVL Boosters, the Matching Booster creates a flywheel effect, benefiting both the protocol/chain and its users through enhanced rewards and engagement.
# Fees and Parameters
## Deposit Fees
An 0.00115ETH execution fee will be charged for positions opening for Buffs on Arbitrum.
No other fees are collected on lending pools or Ethereum Buffs
## Withdrawal Fees
The 0.00115ETH execution fee will also be charged for positions closing for Buffs on Arbitrum.
Withdrawal fees will be applicable for both leverage users and lenders as follows:
| | Buffs | Lending |
| --------------- | ----- | ------- |
| Withdrawal Fees | 0.2% | 0.2% |
## Interest Rates
Borrowers' interest rates are determined by the utilization of the corresponding lending pool. Higher utilization rates result in higher interest rates, incentivizing more lending capital or prompting borrowers to close their positions.
## Liquidation Threshold
For leveraged positions, liquidation is triggered when the position's debt-to-value ratio reaches the liquidation threshold. This safeguards against slippages and sudden price fluctuations, protecting lenders' principal.
| Borrowing Interests | Liquidation Threshold for DTV Ratio |
| ------------------- | ----------------------------------- |
| ETH | 98% |
| wstETH | 98% |
| USDC, USDC.e, USDT | 95% |
| ARB | 95% |
### Liquidation Fee
A 5% liquidation fee is collected by the Keeper contract. When a user's position reaches the liquidation threshold, assets are liquidated. The returned amount is first allocated to lenders to ensure they are made whole, then the 5% charge will be deducted from the remainings, and returned to users.
## Leverage Limit
A leverage limit will be applied to each of the borrowing asset. Users will only be able to apply leverage within the maximum range for their borrowings.
| Borrowing Interests | Maximum Leverage Size |
| ------------------- | --------------------- |
| ETH | 15x |
| wstETH | 15x |
| USDC, USDC.e, USDT | 10x |
| ARB | 5x |
## Maximum Deposit Limit
To ensure balanced diversification and manage risk, each strategy will have a maximum deposit limit. This limit represents the total allowable open position size (open interest) for a specific strategy. Once this cap is reached, further deposits into that strategy will be temporarily disabled, preventing excessive concentration in any single strategy.
## Slippage
For borrowings requiring token swapping to ETH and withdrawals through swapping, a maximum slippage of 5% is set to mitigate the risk of significant value loss for users.
# veAPUFF
## **Introduction to veAPUFF**
veAPUFF, or Vote-Escrowed APUFF, is a key component of AirPuff's governance structure, designed to increase both the utility of the $APUFF token and the protocol's decentralization. By participating in veAPUFF, token holders can unlock additional features, enriching the $APUFF token's utility within the ecosystem.
Additionally, veAPUFF acts as a mechanism to decrease the circulating supply of $APUFF tokens. This not only enhances the token's stability but also strengthens the overall protocol. Utilizing veAPUFF is crucial for sustaining the long-term viability and success of the AirPuff ecosystem.
## Lock APUFF to get veAPUFF
By locking your APUFF tokens, you can obtain veAPUFF. The amount of veAPUFF allocated is determined by how much and for how long you decide to lock your APUFF tokens, with a maximum period of up to two years. This process links your wallet to a specific veAPUFF expiry date.
| Lock Time Option | vePUFF to receive |
| ---------------- | ------------------------- |
| 2 years | 1 $APUFF = 1 veAPUFF |
| 1 year | 1 $APUFF = 0.5 veAPUFF |
| 6 months | 1 $APUFF = 0.25 veAPUFF |
| 3 months | 1 $APUFF = 0.125 veAPUFF |
| 1 month | 1 $APUFF = 0.04 veAPUFF |
| 1 week | 1 $APUFF = 0.0096 veAPUFF |
Over time, the value of your veAPUFF decreases, eventually reaching zero at the end of the lock-up period. Subsequently, your locked APUFF tokens are released and available for use again.
Additionally, each time you lock APUFF, the lock expiry date will be updated to the latest lock duration. For example, if you locked 1 $APUFF for 2 years one year ago and lock an additional 1 $APUFF for 2 years today, both will now share an updated lock expiry date of 2 years from today. You can also relock your tokens to extend the locking period and refresh your veAPUFF balance.
### **The Role of veAPUFF in Incentive Distribution**
veAPUFF plays a crucial role in directing the distribution of rewards across different pools within AirPuff. Holders of veAPUFF have the power to vote on the allocation of rewards, effectively steering liquidity towards preferred pools.
The core idea here is simple: the more veAPUFF you hold, the greater your influence over the incentive distribution. This system not only aligns with the goals of decentralized governance but also enhances the utility of the $APUFF token by directly involving holders in the protocol's development and growth strategies.
# Utilities
Acting as the governance token of AirPuff, locking $APUFF and hold veAPUFF will get users multiple utilities and further maximise their rewards.
## $APUFF Emission
$APUFF emissions are allocated across all products, with a unique mechanism to encourage long-term participation. To qualify for $APUFF emissions, users need to lock a minimum of 5% of their position's USD value in veAPUFF, aligning veAPUFF's price with $APUFF's current market price.
$$
\small User Balance of veAPUFF \* $APUFF Current Price ≥ User Total Position Amount \* 0.05
$$
### **Examples of Emission Eligibility:**
* **Example 1:** Depositing $1,000,000 in ETH without any veAPUFF holdings will yield basic APY without additional $APUFF emissions.
* **Example 2:** A $1,000 ETH deposit with $50 in veAPUFF holdings meets the 5% requirement, making the user eligible for $APUFF emissions.
### **Benefits of $APUFF Locking into veAPUFF:**
1. **Encourages Long-Term Engagement:** By locking $APUFF, users demonstrate a commitment to AirPuff, increasing the stability of their investments.
2. **Activates $APUFF Emissions:** This engagement directly correlates with eligibility for $APUFF emissions, rewarding long-term and supportive users.
3. **Stabilizes $APUFF Value:** Locking mechanisms reduce market selling pressure and discourage quick profit-taking by necessitating a 5% lock-up, which stabilizes the $APUFF price.
This strategy fosters sustained liquidity and attracts new capital, benefiting both users and AirPuff.
### **Maintaining Eligibility Status**
To remain eligible for $APUFF emissions from both lending pools and strategy deposits, ensure at least 5% of your deposit's USD value is locked in veAPUFF.
{% hint style="info" %}
Note that price volatility may affect eligibility status
{% endhint %}
### **Example of Fluctuating Eligibility:**
* Peter has $5 in veAPUFF and a $100 USDC deposit, meeting the 5% requirement. If $APUFF's price drops by 10%, Peter's veAPUFF value falls below the threshold, affecting his eligibility for emissions.
Active emission status is indicated by banners on the site. If you become ineligible, a notification will guide you on how to add veAPUFF and regain eligibility.
## Points Sharing
veAPUFF holders are entitled to a share of 5% of all points collected from leveragoors. The distribution of these points is proportional to each holder's share of veAPUFF relative to the total veAPUFF supply.
$$
\small Lockers Points = UserveAPUFFAmt / veAPUFFTotalSupply \* Leveragoors Total Points \* 0.05
$$
This feature enables AirPuff users to benefit from airdrop rewards indirectly, without the necessity of directly participating in the underlying protocols and strategies.
Particularly in scenarios where the Total Value Locked in strategies is substantial, and the total supply of veAPUFF is relatively smaller, veAPUFF holders may receive a more significant share of airdrop rewards compared to direct engagement with the same USD value in the underlying protocols. This is due to the allocation of 5% of the total contract value, showcasing an innovative way to maximize rewards through the AirPuff ecosystem.
## Voting Gauges
veAPUFF holders possess the capability to directly influence AirPuff's ecosystem by voting on the emission rates allocated to each pool. This mechanism ensures that the distribution of rewards is aligned with the preferences and strategic interests of the community.
### **Mechanism Overview:**
Each week, veAPUFF holders are invited to vote on how emissions are distributed across the various buffs and lending pools. With a predetermined total emission for all pools, the power of each vote is determined by the amount of veAPUFF staked, with each veAPUFF unit equating to one vote. Consequently, the $APUFF emissions allocated weekly are divided based on the voting outcomes, ensuring that pools receiving more votes are awarded a larger share of the emissions.
This democratic process not only empowers veAPUFF holders to shape the protocol’s reward strategies but also encourages active participation in governance decisions. By casting votes for preferred pools, users can create a tailored reward distribution pattern, fostering a dynamic ecosystem where strategic engagement enhances individual and collective gains.
# Token Distribution
Total Token Supply = 1,000,000,000 $APUFF
Category
Supply
Vesting Schedule
% Unlocked at TGE
Long term incentive program
38%
4 years linear vesting
0%
Public Sale
15%
All unlock at TGE
15%
Ecosystem Fund
10%
2 years linear vesting
0%
Airdrop
7%
2% Unlocked after Season 1 ends. 2% 3 months vesting for Season 1
0%
Treasury
8%
2 years linear vesting
0%
Private Investors
10%
1% unlock at TGE, 3 months cliff and 9-15 months linear vesting
1%
Team
12%
6 months cliff, 18 months linear vesting
0%
Total
100%
-
16%
### Long Term Incentive Program (38%)
**Description:** The long term incentives will be allocated to regular emissions across strategies and pools. Emission rates for the corresponding epoch will be determined by the voting results from veAPUFF. See more details in Voting Gauges
**Release Schedule:** 4 years linear vesting starting from TGE
### Public Sale (15%)
**Description:** 15% is reserved for the Token Generation Event of AirPuff, where participants can contribute ETH and receive $APUFF in a fair and equal price. Refer to the [Phase 2: $APUFF Token Generation Event](/airpuff/usdapuff-launch-odyssey#phase-2-usdapuff-token-generation-event) for more information.
**Release Schedule:** 100% unlock at TGE
### Ecosystem Fund (10%)
**Description:** The Ecosystem Fund will be reserved for growing and expanding the AirPuff ecosystem, covering needs like liquidity set up for initial Protocol owned liquidity, and Co-marketing efforts with partners etc.
**Release Schedule:** 2 years linear vesting
i: 3% of the Ecosystem Fund will be reserved for Protocol owned liquidity, locking for 1 year.
i: Released ecosystem funds will be kept as ecosystem fund WILL NOT immediately become part of circulating supply, it will only be utilized if required.
### Airdrop (7%)
**Description:** To reward our early supporters, 7% of the tokens will be reserved for airdrops. Airdrops will be allocated to users based on the points they have collected through deposits and referrals. Visit [Points & Referral](/airpuff/points-and-referrals) for more details.
**Release Schedule:** TBC
### Treasury (8%)
**Description:** 8% of the tokens will be reserved in the treasury for AirPuff development.
**Release Schedule:** 2 years linear vesting
i: Released ecosystem funds will be kept as ecosystem fund WILL NOT immediately become part of circulating supply, it will only be utilized if required.
### Private Investors (10%)
**Description:** Tokens allocated to private investors are locked in smart contract and subject to the preset vesting schedule.
**Release Schedule:** \~1% will be released at TGE, while remaining will be locked with 3 months cliff and 9-15 months linear vesting
### Team (12%)
**Description:** Tokens allocated to the team are locked in smart contract and subject to the vesting schedule.
**Release Schedule:** 6 months cliff with 18 months linear vesting
# What is EigenLayer & LRTs
### **What is EigenLayer**
EigenLayer stands as a pioneering protocol on the Ethereum network, introducing a concept known as restaking—a novel primitive in cryptoeconomic security. This innovation facilitates the reuse of ETH on the consensus layer, enabling users to stake ETH natively or with a liquid staking token (LST). By opting into EigenLayer smart contracts, users can restake their ETH or LST, extending cryptoeconomic security to additional applications on the network and earning supplementary rewards.
In simple terms, EigenLayer allows users to stake their ETH to enhance the security of various Actively Validated Services (AVS). These services encompass a range of critical functions such as bridges, oracles, and sidechains, with the promise of more innovative applications on the horizon.
Sourced from EigenLayer Doc
###
### **How do Liquid Restaking Tokens (LRTs) Work**
Liquid Restaking serves as the gateway to the EigenLayer ecosystem, strengthening the security of Actively Validated Services (AVS) and offering superior yield compared to traditional ETH staking.
Liquid Restaking protocols collaborate with sets of Node Operators, allowing them to opt into securing different AVSs and earning additional fees. Each protocol may employ distinct restaking strategies to determine the combination of AVSs they secure.
By staking ETH into these Liquid Restaking protocols, users receive Liquid Restaking Tokens (LRTs). These tokens, akin to reward-bearing tokens like cTokens, represent the deposited native ETH or LSTs. Stakers not only earn ETH rewards from the Beacon chain but also enjoy additional rewards by participating in the restaking process on AVSs.
In essence, Liquid Restaking Tokens (LRTs) encapsulate the innovative approach of EigenLayer, providing users with an avenue to maximize their rewards while actively contributing to the security and functionality of the broader restaked network.
Sourced from KelpDAO Doc
# Official Links
| Social Media | Links |
| ------------ | -------------------------------- |
| Website | |
| Twitter / X | |
| Discord | |
| Telegram | |
| Medium | |
| Github | |