Anyone interested in participating needs to have 500 SWAP tokens staked in order to receive an entry ticket.
TrustSwap and YIELD App are preparing to launch a new FlashDrop program that will grant 500 YLD tokens to as many as 3,000 users.
TrustSwap recently announced the launch of a new FlashDrop program, which is taking place next Friday, April 23rd. The event is designed to incentivize users to stake their tokens and earn significant rewards, and simultaneously help the project reach its full potential.
The program will come in collaboration with the YIELD App — a platform that launched via TrustSwap’s own Launchpad back in December 2020. YIELD has a solid team of industry veterans, and its goal is to revolutionize DeFi investing by allowing users to earn interest on some of the most prominent cryptos.
Details about YIELD App
YIELD App itself is a DeFi-focused platform, that offers wealth management services with up to 20% APY on several coins, including BTC, ETH, USDC, and USDT. YIELD also has its own token, YLD, which will be a major part of the FlashDrop. The token was launched successfully via the TrustSwap Launchpad, surging by over 1700% since launch.
Since then, the app has been focusing on providing equal investment opportunities for everyone, constantly working on delivering equal investment opportunities to the public. Along the way, it hopes to unlock the full potential of DeFi, not only for its current users, but for the entire world, and offer everyone an innovative, yet simple to use platform that would serve as a bridge between traditional and modern finance.
The FlashDrop will offer tokens to users who have a YIELD App account, and who fulfill a specific set of requirements that would make them eligible for participation in the upcoming event.
What you need to know about FlashDrop
The FlashDrop will be offered in the form of an on-chain lottery system. The process is fully transparent, decentralized and provably fair to everyone, giving all participants an equal chance to win.
3,000 lottery winners will receive 500 YLD tokens. The requirements for participation are very simple compared to alternative services in the industry.
What do you need to do to participate?
In order to become eligible for the event, applicants have to stake at least 500 SWAP tokens before April 22nd. On top of that, the addresses need to be successfully registered and verified, meaning that they must pass the KYC procedure..
The process needs to be done by April 22nd, which is the snapshot date for the FlashDrop. Each address that has 500 SWAP staked at the time of the snapshot, will receive1 entry ticket. The exceptions are addresses that will also have 1000 YLD tokens, in addition to 500 SWAP tokens. Those addresses will be allocated 2 lottery tickets.
On top of that, each address that has a TrustSwap Golden Ticket will get 500 YLD immediately. If they happen to be among the winners, they will also get an additional 500 YLD, which comes as regular rewards.
Restrictions for US citizens
Apart from the requirements, there are also a few restrictions. No US citizens will be eligible to participate in the event, and neither will non-US users who already claimed a YLD airdrop in the SwapDrop round.
Those who did not pass KYC will not be allowed to participate either. Also, users can only have a single claim, apart from those who have 1000 YLD in addition to the basic 500 SWAP tokens, as mentioned before.