Last year, we introduced a HODL campaign as part of our 1st Birthday Celebration. This year, to celebrate our recent partnership with Neo, we’re bringing back the Switcheo Chest event, and upsizing the prize pool from 3,000,000 SWTH to 5,000,000 SWTH. We present to you Switcheo HODL Elite. Thank you for your continued support!
Participants that commit to holding at least 100,000 SWTH for 90 days in Switcheo Chest will earn from a pool of 5,000,000 SWTH. Switcheo Chest will be available for users to commit their SWTH on 22 January, 12:00 UTC+8 and participants should lock up their tokens from 22 January, 12:00 UTC+8 to 21 April, 12:00 UTC+8.
SWTH earned will be credited to the user’s wallet at the end of the event. Distribution of earned tokens will be conducted within 2 weeks from the end of the campaign.
Reward Calculation: (Committed amount by user * No. of days locked) / Σ (Committed amount for each user * No. of days locked for each user) * Total pool amount
How to HODL
Step 1: Login and deposit SWTH into your contract balance
Head to Switcheo Exchange and log in using Switcheo Account or a blockchain wallet that contains your SWTH. Once logged in, switch to the All Tokens tab and type “SWTH” in the search bar.
For Switcheo Account login: Click on the Deposit tab to retrieve your Neo address. Send SWTH directly from another wallet or exchange. Switcheo Account automatically deposits SWTH into your contract balance.
For wallet-based login: Click on the Deposit tab and key in the amount of SWTH you would like to commit. This will transfer SWTH tokens from your wallet balance to the contract balance.
Step 2: Navigate to the Switcheo Chest page
After your tokens have been successfully transferred, click on the menu bar on the top right corner. Under the dropdown, select Chest.
Step 3: Key in the amount of SWTH tokens you wish to commit
Your committed SWTH will appear under History.
Now you’re all set to receive your rewards at the end of the event!
- To be eligible for the Switcheo HODL Elite, you will have to commit a minimum amount of 100,000 SWTH in Switcheo Chest.
- Committed SWTH cannot be unlocked or used until the stipulated event end time. Tokens that are locked are still eligible for Switcheo’s airdrop campaigns.
- Users may commit tokens after the event has started, but the rewards earned will be prorated by the lock-up start date.
- Only users who have fulfilled all the criteria throughout the event period will be eligible for the rewards.
- Switcheo reserves the right to amend event rules or cancel the event at our sole discretion.
- If any other form of staking of SWTH begins before the stipulated end date of Switcheo HODL Elite, the chest will be unlocked early so that users can stake tokens via the new staking model. Rewards will be prorated as if the remaining duration is complete and tokens will be distributed in full.
To view Switcheo’s terms and conditions, go here.
For more information on Switcheo: