Demeter snapshot unboxing and Kusama parachain auction
In ancient Greek religion and mythology, Demeter is the Olympian goddess of the harvest and agriculture, presiding over grains and the fertility of the earth. She was also called Deo. Though Demeter is often described simply as the goddess of the harvest, she also presided over the sacred law, and the cycle of life and death. Demeter was often considered to be the same figure as the Anatolian goddess Cybele, and she was identified with the Roman goddess Ceres. In Ceres ecosystem Demeter is the first airdrop token with its own purpose and DeFi Farming platform.
Maximum starting supply: 120,500.00
Max supply: 10,000,000.00
Chain: SORA network
Max supply of Demeter token is 10,000,000. Considering that the SORA network has 14.400 blocks per day, the duration of Demeter farming will be approximately 3 years and 6 months.
All liquidity providers in Demeter farming pools will get PSWAP rewards same as before. Also liquidity providers will not give their liquidity to Demeter platform as is the case on ERC-20 and BSC network, for example, where LP tokens are given to smart contracts. On Demeter platform you will just give permission to use your liquidity pool tokens for farming Demeter tokens. This way of farming provides more security to your funds. Educate yourself before you start farming because you are doing that at your own risk.
The snapshot for Demeter airdrop has been taken on December 21 at 21:00 UTC. All Ceres holders, stakers and liquidity providers on SORA network were eligible for the snapshot. 17,752.95 CERES participated in the Demeter snapshot giving the 88,764.75 as DEO supply to be airdropped.
As 120,500 is the maximum initial supply of DEO, there are still 31,735.25 tokens left. The Ceres team came to the following distribution in consultation with the SORA team:
- 11,735.25 DEO to be burned
- 10,000 DEO to be provided for liquidity on Polkaswap
- 10,000 DEO to be given to SORA’s Kusama parachain auction participants
DEO for SORA’s Kusama parachain auction
SORA will join the Kusama parachain auctions, starting in January and continuing until securing a slot. We hereby invite our community for the maximum support to SORA on upcoming Kusama auction. The development and growth of SORA is extremely important for Ceres and everything that the Ceres team builds.
The community referendum approved the proposal on the 5th of December 2021, and the crowdloan rewards are as follows:
676,393 VAL; 9,363,480 PSWAP; 77,050 XSTUSD
Ceres team decided to give 9.19% of DEO starting supply (10,000 tokens) to participants in Kusama parachain auction. DEO will be distributed for the first 5,000 KSM in ratio 2 DEO per 1 KSM.