Nektar drops and pollination FAQ
What was the calculation method
Retroactive Nektar Drops for pre-launch initiatives were calculated based on a formula similar to that used by the Diva Staking community for DIVA token allocations (referenced in DIP-02, DIP-07, and DIP-08), but with an immediate start of points accrual at the time of deposit and a 50x multiplier.
Specifics:
For Enzyme: Points were calculated based on input from the public Diva Staking subgraph developed by Enzyme Finance, which takes into account distinct deposit tranches and both the volume and duration of deposits as outlined here and here. Specifically — for all addresses with an amount deposited greater than 0 in at least one Diva Early Staker Vault on April 23 at 21h35 UTC — the totalRewards for each address were summed and multiplied by a factor of 50, to calculate the number of Nektar Drops. Users that withdrew a portion of their liquidity prior to this date, are only eligible for points on the liquidity that remained in the vaults. See the raw data and processed data for more details.
For Sommelier: Calculations were based on the volume and time of liquidity provided, based on the guidelines in DIP-07. Similar to Enzyme depositors, the total Nektar Drops for each address were calculated on based on the amount of ETH deposited per day on April 23th, multiplied by 2.50 (i.e. Tranche 1 accrual rate) and again multiplied by a factor of 50. Depositors through Superform.xyz were included as well. Calculations can be found here.
For Reserve: Retroactive Nektar Drops related to the Based ETH initiative of Reserve Protocol and Diva Staking (cf. DIP-08) were awarded based on the duration and size of assets held in a user’s wallet and/or DeFi applications. This includes retroactive Nektar Drops for Based ETH (bsdETH) holders, bsdETH-ETH LPs in Aerodrome and Beefy who retained their liquidity, and bsdETH lenders in ExtraFi — starting from February 21.
Specifics for others:
For POAPs: A fixed number of 1,500 Nektar Drops per Diva Community POAP held by users were awarded. This includes POAPs related to Diva and Nektar events. The full list can be found here.
For Operators in the Goerli Diva testnet: operators received Nektar Drops based on their work done and time in testnet. This was calculated by multiplying the number of validator key shares per operator with 10,000 and an additional multiplier (up to 2x) for addresses running multiple active nodes, to obtain the number of Nektar Drops. Details can be found here.
Specifics:
For Enzyme: Points were calculated based on input from the public Diva Staking subgraph developed by Enzyme Finance, which takes into account distinct deposit tranches and both the volume and duration of deposits as outlined here and here. Specifically — for all addresses with an amount deposited greater than 0 in at least one Diva Early Staker Vault on April 23 at 21h35 UTC — the totalRewards for each address were summed and multiplied by a factor of 50, to calculate the number of Nektar Drops. Users that withdrew a portion of their liquidity prior to this date, are only eligible for points on the liquidity that remained in the vaults. See the raw data and processed data for more details.
For Sommelier: Calculations were based on the volume and time of liquidity provided, based on the guidelines in DIP-07. Similar to Enzyme depositors, the total Nektar Drops for each address were calculated on based on the amount of ETH deposited per day on April 23th, multiplied by 2.50 (i.e. Tranche 1 accrual rate) and again multiplied by a factor of 50. Depositors through Superform.xyz were included as well. Calculations can be found here.
For Reserve: Retroactive Nektar Drops related to the Based ETH initiative of Reserve Protocol and Diva Staking (cf. DIP-08) were awarded based on the duration and size of assets held in a user’s wallet and/or DeFi applications. This includes retroactive Nektar Drops for Based ETH (bsdETH) holders, bsdETH-ETH LPs in Aerodrome and Beefy who retained their liquidity, and bsdETH lenders in ExtraFi — starting from February 21.
Specifics for others:
For POAPs: A fixed number of 1,500 Nektar Drops per Diva Community POAP held by users were awarded. This includes POAPs related to Diva and Nektar events. The full list can be found here.
For Operators in the Goerli Diva testnet: operators received Nektar Drops based on their work done and time in testnet. This was calculated by multiplying the number of validator key shares per operator with 10,000 and an additional multiplier (up to 2x) for addresses running multiple active nodes, to obtain the number of Nektar Drops. Details can be found here.
When will new point rewards start?
New point rewards under Epoch 1 are expected to start on May 1 2024. Please note that it will take 24 hours for these earned points to be shown in the Nektar Drops dashboard.
How will future points be calculated?
Future points will be calculated based on user engagement and contributions to various initiatives within the Nektar Network. The specifics will be announced at the start of Epoch 1 and depend on the activity type, with some actions potentially having boosted rates or additional bonuses, especially in newly launched initiatives.
When will Epoch 1 end?
April 29th Update — Epoch 1 will end after a maximum duration of one month (on June 1) or when Nektar’s TVL reaches 250,000 ETH — whichever occurs first.
How many epochs are there going to be?
The number of epochs will be determined taking into account community feedback and the evolving needs of the Nektar ecosystem. The plan includes periodic assessments to adapt and plan future epochs.
Does this change anything to the DIVA token distribution?
No, the introduction of Nektar Drops does not impact any DIVA token allocations.
Can I move my existing liquidity to another Nektar Network initiative, and still be eligible for points in Epoch 1?
Yes, you can move your liquidity to another Diva Staking or Nektar Network initiative without forfeiting eligibility for Nektar Drops in Epoch 1. However, please note that such actions may negatively impact your future DIVA token allocations since those were voted by the Diva Staking DAO, especially if withdrawals from certain vaults occur before designated times as detailed in DIP-02, DIP-07 or DIP-08. One example: withdrawals in Enzyme vaults that take place before the full conversion to divETH is complete, won’t qualify for any DIVA distributions.
Does Nektar have its own token?
Nektar or the Nektar Network does not have a token; Nektar Drops are loyalty points within its ecosystem.
Are Nektar Drops an initiative of the Diva DAO?
No, Nektar Drops are independently managed by the Nektar Network and are separate from the Diva DAO initiatives.
Are Nektar Drops a replacement for DIVA tokens?
No, Nektar Drops are not a replacement; they are designed to reward community engagement and loyalty.
Is there a maximum of Nektar Drops that can be earned?
At the moment, there is no fixed maximum for Nektar Drops; accrual is based on user activity and program guidelines which may evolve over time.
How many retroactive Nektar Drops were distributed?
May 7th update — As of May 7th, 412,763,651 Nektar Drops were distributed retroactively. A breakdown per address can be found here. Additional Drops may be distributed for past actions that took place up until the start of Epoch 1.
Are Nektar Drops onchain and/or transferable?
Nektar Drops are maintained offchain and are non-transferable. They cannot be moved to another address or exchanged between parties.
Do Nektar Drops hold any monetary value?
No, Nektar Drops do not hold monetary value. They are meant to recognize and reward community involvement within the Nektar Network.
Did DIVA holders get retroactive Nektar Drops?
No. The retroactive distribution of Nektar Drops focused on past depositors to the pre-launch vaults and other beneficial actions within the Nektar Network. Holding DIVA tokens has not been set as a criteria for the initial points distribution. Criteria for future Epochs remain to be determined.
Can I lose my accumulated Nektar Drops?
No, you will not lose your accumulated Nektar Drops. They are soulbound, meaning they are permanently linked to your wallet address and cannot be transferred or lost.