Nektar Network Launches Epoch 1, Rewarding Community Involvement with Daily Nektar Drops

Nektar Network commences Epoch 1 of Nektar Drops, a reward program acknowledging community contributions through daily drops. Participants can earn drops by participating in initiatives like Enzyme vaults, Sommelier vaults, and Reserve bsdETH on Ethereum and Base. The allocation of retroactive Nektar Drops has been revised, increasing the number of drops for testnet operators and other participants. Referral rewards will be introduced later in Epoch 1 after technical enhancements.

Nektar Network Announces Epoch 1 for Nektar Drops, Rewarding Community Engagement with Daily Distribution

Berlin, Germany – May 1, 2024 – Nektar Network heralds the commencement of Epoch 1 for Nektar Drops, a groundbreaking initiative acknowledging and incentivizing community contributions. Beginning today, participants can engage in designated activities within the Nektar ecosystem to earn these daily rewards, with the epoch concluding on June 1, 2024, or upon reaching a network total value locked (TVL) of 250,000 ETH.

Earning Nektar Drops through Pre-Launch Initiatives

Epoch 1 offers a multifaceted approach to earning Nektar Drops, encompassing participation in Enzyme vaults, Reserve bsdETH initiatives, and Sommelier vaults. Notably, participants will receive 25 Nektar Drops per day for each ETH deposited on Ethereum mainnet within these initiatives. Deposits on Base will yield a slightly different reward structure, granting 20 Nektar Drops per ETH per day.

Enhanced Allocation for Retroactive Nektar Drops

Recognizing the invaluable contributions of Goerli and Holesky testnet operators, Nektar Network has significantly revised the allocation of retroactive Nektar Drops, increasing their distribution by over 50x. All other participant categories have also received a 10x increase to better honor their efforts and engagement.

Referral Rewards: A Forthcoming Addition

As Epoch 1 progresses, referral rewards will be introduced, aligning with final technical enhancements in partnership with the Fuul team. This integration aims to seamlessly complement the existing reward structure.

A Milestone in Community Empowerment

The launch of Epoch 1 epitomizes Nektar Network's unwavering commitment to fostering community engagement. This initiative forms a cornerstone of the upcoming stages in the Pollination Campaign, further incentivizing active participation and supporting the growth of the Network.

Nektar Network: A Multilayered Restaking Network

Nektar Network stands as a multilayered restaking network, built upon the Ethereum blockchain and comprising components that synergistically form a comprehensive incentives system. This system seeks to democratize access to Ethereum's trust model, empowering the community and driving innovation within the decentralized finance ecosystem.

Further Information and Contact Details

For additional insights into Nektar Drops and the Pollination Campaign roadmap, interested individuals are invited to visit the Network's website or engage on Farcaster and X.

Myra Tumlos, a representative of Nektar Network, is available for inquiries via email at [email protected]

Disclaimer

This press release is intended for informational purposes only and should not be construed as investment advice or an offer to invest. Engaging with smart contracts involves inherent risks, and due diligence is paramount before any financial commitments.