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Covalent Ecosystem Airdrop Program

Covalent is thrilled to launch its new Covalent Ecosystem Airdrop Program under The New Dawn initiative.

This strategic move aims to enhance network infrastructure and decentralization efforts for Long-Term Data Availability, emphasizing improvements in infrastructure, optimized staking mechanisms, and incentive campaigns to foster growth and community engagement.

Covalent’s Strategic Airdrop Initiative

The Covalent Ecosystem Airdrop Program goes beyond simple token distribution. It serves as a catalyst for market dynamics and deeper community involvement. Explore eligibility and potential rewards through Covalent’s dedicated airdrop portal.

Forging Long-Term Partnerships

As part of this initiative, Covalent highlights initial tokens from longtime collaborators Taiko and zkSync. These partnerships, nurtured since their testnet phases, ensure seamless integration and mutual growth. Expect ongoing updates as Covalent expands this initiative to benefit the entire ecosystem.

Getting Involved: A Step-by-Step Guide

Joining the ecosystem airdrop is straightforward:

  1. Become a CQT Staker: Stake your CQT tokens to qualify for airdrops. Visit the staking dashboard for a detailed guide.
  2. Access the Airdrop Portal: Once staked, visit the Airdrop Portal to check eligibility and potential rewards based on your contributions.

By following these steps, participants unlock additional utility and value through Covalent’s airdrops, enhancing their engagement in the ecosystem.

High Demand for CQT Staking

In May 2024, Covalent saw overwhelming demand for its staking program, prompting a governance proposal to increase the max multiplier. With the delegation room almost full at 99%, tools are in place to expand this capacity through a governance process:

  • Increase Max Multiplier: Currently at 34x, boosting this can accommodate more delegations.
  • Onboard More Operators: Continuous efforts ensure decentralized and efficient ecosystem operations.
  • Allow Operators to Increase Self-Stake: An available option, though carefully considered during the initial phases.

Stay updated for opportunities to participate in the ecosystem airdrop program as more delegation room becomes available. Join us in shaping the future of Covalent’s thriving community.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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