$LOGX Airdrop Update 1
TL;DR🎆:
LogX points and gems will not be given to users post 5th March, 05:00 UTC, 2024 .
A new epoch based airdrop program will be launched post 5th March,2024.
We will reward the loyal users of LogX with extra Loyalty points and gems drop.
12% of the total supply has been allocated to pre-token launch airdrop activities. TGE details to be shared soon.
Gm Loggers,
LogX launched on 1st August, 2023 with a crystal clear mission to provide an unparalleled on-chain perpetuals experience that outshines traditional centralized exchanges (CEX). Over the past 6 months, we've experienced tremendous growth and achieved remarkable milestones.
Let's dive into some of the highlights:
Processed over $2.85 billion in total trading volume and welcomed over 88,221 users!
Rolled out Orderbook on Arbitrum and Optimism, powered by Orderly Network.
Successfully launched liquidity pool-based LogX native perpetuals on 7 chains, dominating as the #1 perp by TVL on 5 out of 7 chains.
Crossing $100 million in daily trading volume for the past 7 days!
Every day, we're getting closer to making our mission a reality, all thanks to you – our amazing early supporters! A heartfelt thank you to each and every one of you who've been part of this extraordinary journey with us.
LogX Airdrop Program Updates
We launched our airdrop program on 28th August, 2023 and was designed to be straightforward and rewarding: LogX points for trading, LogX gems for providing liquidity, and multiplier NFTs for joining in on our exciting campaigns. It was our way of showing appreciation for early supporters.
As the platform scaled to nearly $3 Bn in total trading volume, we listened very closely to your feedback on the airdrop program. The top feedback we've received revolves around transparency, points inflation, and getting more insights in in our tokenomics.
As a user focused project, today we would like to announce the following updates to the Airdop program:
12% of the total supply has been allocated to pre-token launch airdrop activities. TGE details to be shared soon
Starting March 5th, 05:00 UTC, 2024, users will no longer earn LogX points and liquidity gems. So, make the most of it until then!
The window for claiming your multiplier NFTs remains open until March 5th, 2024, at 05:00 PM UTC. Starting today the multipliers will be automatically applied to all the points and gems earned, on our new airdrop page. You get the same trading points irrespective of the chain you trade on.
We will reward the users of LogX with extra loyalty points and gems drop that will be dropped on 20th March, 05:00 UTC, 2024. Loyalty will be measured based on recurring usage of LogX, fees paid, trading P&L and other core trader metrics. You have time until 5th March, 2024, to increase your Loyalty points and gems allocation.
After the loyalty drop, we'll take a snapshot of your final points and gems on March 20th, 05:00 UTC. The allocation pool for your points and gems will be made public before the token launch date.
Around 99.72% of our trading volume is facilitated through our Orderbook & native perps. Therefore, to remain focused we will discontinue support for LogX points on Hyperliquid and Gains, effective February 16th, 2024, at 05:00 PM UTC.
Sneak peek on what’s coming next:
Our goal is to to scale LogX to $100 Bn+ in total trading volume and become an omni-present Perpetual dex in Defi. Over the next few months we will expand on multiple chains, launch new trading pairs, bring deeper liquidity and build sophisticated trading features.
A new epoch based airdrop program will be launched post 5th March,2024.
A dual rewards program will be launched for special partners like Orderly network.
LogX Royalty NFT program is already live. These NFTS (Black > Gold > Silver) can be redeemed for $LOGX at airdrop. You earn Royalty NFTs by participating in our special campaigns.
We're also designing some special programs like ambassador programs, VIP trader rewards, and referral programs.
More details in the coming days with details in $LogX Airdrop update 2.
With every new development, we're dedicated to making your LogX trading experience even better. Your unwavering support and enthusiasm drives us.
Thank you! 🤍