Collective Zap-in: an in depth look

  • Discovery Phase: During this 10 day phase, anyone can participate by supplying $ADA. Participants who deposit $ADA receive a token in exchange that acts as a receipt, just like the purrADA from the Minswap LBE. In the case of Project XYZ, let’s say it was xyzADA. This xyzADA acts as a receipt, which you will later be able to convert to $ADA/$XYZ LP Tokens. However, users who have deposited $ADA in the CZI will not be able to redeem it back to $ADA within the 10 days of the event. So, once you have deposited $ADA to the CZI, you cannot redeem it back for $ADA. Only after the event is over, for $ADA/$XYZ LP Tokens.
  • Encounter Phase: Participants can exchange their xyzADA obtained during the Discovery Phase for $ADA/$XYZ LP tokens and stake those tokens in the Exclusive Farming Pool. The number of LP Tokens redeemed will be equal to the share their xyzADA represents in the $ADA/$XYZ share of the Liquidity Pool that was a result of the CZI.
  1. All the tokens that the project allocated to the event have been used in the CZI and paired with $ADA deposited by participants.
  2. The 10 day period has gone by.
  • The Functional NFT: is the ticket to participate in the Exclusive Farming Pool with a higher APR and Triple Farm tokens ($XYZ + $ADA + $MIN). This means you cannot stake in the Exclusive Farming Pool without this ticket because it is available only to CZI participants. The Functional NFT has encoded in its name the amount of LP Tokens participants got during the CZI and hence the number of LP Tokens that can be staked in the Exclusive Farming Pool. For example, if you deposit 1,000 $ADA and the price of $XYZ is 0.1 $ADA, you would receive 1M LP tokens and an NFT named 1M.
  • The Project NFT: projects can opt to introduce this NFT to reward participants and can embed utility to it within their scope, whether it is related to RealFi, Metaverse, DeFi, or others.
  • Exclusive Pool: with higher yields, only for CZI participants
  • Normal Pool: for everyone else staking $ADA/$XYZ LP Tokens

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Minswap Labs

Minswap Labs

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Minswap is the multi-pool decentralized exchange on the Cardano blockchain: https://minswap.org