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SOMA Lockdrop

SOMA Lockdrop

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Go to SOMA Lockdrop

Locked and Loaded

Deposit funds to the lockdrop to guarantee early access to DEX liquidity pools.

Lockdrop Guide

Lock Funds, Earn Rewards

In Phase 1, participants in the Lockdrop can lock their funds in USDC and earn rewards in the form of Liquidity Provider (LP) tokens and SOMA tokens.

Why Wait? Delegate

For the second phase, participants can add USDC or SOMA tokens from Phase 1 to the SOMA Lockdrop pool for further rewards in the final phase.

Claim LP and SOMA

With the launch of SOMAswap, receive both LP and SOMA rewards for your participation.

Lockdrop
FAQs

What is an LP token?

An LP token is a Liquidity Provider token. It represents your share of a particular liquidity pool based on your contribution to said pool. This way, the LP tokens become the claim to your share, allowing you to maintain control over that share without external interference.

What is a Liquidity Pool?

The smart contracts where liquidity providers deposit their funds are known as liquidity pools. This helps to create a large stash of funds that traders can trade against instead of market makers and order books. In return for providing liquidity, LPs earn fees from the trades that happen in their pool.

What is a Lockdrop?

Lockdrops are designed to provide a fairly distributed token launch that helps establish a trading price, sufficient float, trading liquidity and protocol decentralization. You can submit tokens (USDC) to the lockdrop pools in return for SOMA and LP (Liquidity Provider) tokens as a reward.

How can I participate in the Lockdrop?

You’ll need to complete the onboarding process on SOMA, once done you can use your approved/whitelisted wallet to participate in the lockdrop.

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