At Nektar Network, community engagement and organic participation are at the heart of our mission. As we advance full steam ahead to deploying the first comprehensive layered restaking ecosystem based on DVT, our dedication remains strong: no one gets left behind in the Nektar hive. Our new loyalty program, Nektar Drops, is designed to honor the early contributors to Nektar Network at any layer, and to continuously reward ongoing participation across our ecosystem.
Have you participated in any of the pre-launch Diva vaults?
View your Nektar drops now at the Dashboard https://www.app.fuul.xyz/points/nektar
Today, we are thrilled to unveil The Pollination campaign — kickstarting Nektar’s points system. The Nektar Points Program, or “Nektar Drops,” introduces a new loyalty system that rewards users for their interactions within the Nektar Network at any layer, from early contributions to ongoing engagements. The full program, also known as ‘The Pollination,’ unfolds in several phases:
Retroactive Drops: Recognizes early interactions until April 23, 2024.
Epoch 1: Rewards ongoing contributions, starting from May 1, 2024.
Future Epochs: Details to be determined based on community feedback and program success.
Completion of the Pollination Campaign 🍯
As a token of our gratitude and to the benefit of the Diva Staking community, we have distributed Nektar Points to early supporters of Diva, with a significant portion allocated to depositors of the Diva pre-launch initiatives. This one-off distribution rewards past loyalty for interactions that occurred between September 2023 and April 23, 2024. The calculation methodology was consistent with that used for DIVA token allocations, but with an immediate onset of points accrual and an additional 5x multiplier to determine the final amount of Nektar Drops for each address. Details of the calculations and eligible addresses can be found in the FAQ section below.
Notably, Nektar Drops have been awarded to:
Depositors in the Enzyme Early Staker Vaults who maintained their deposit
Participants in the Sommelier Turbo divETH Vault who maintained their deposit
Based ETH (bsdETH) holders and bsdETH-ETH LPs in Aerodrome and Beefy who retained their liquidity (Note: these points will be distributed shortly)
Diva POAP holders — including Community Calls, Operator Huddles and more
Operators in the latest Diva testnet on Holesky, and in the earlier testnet on Goerli
Epoch 1 will soon enable you to earn Nektar Drops daily based on your activities within various Nektar ecosystem niches. This will include both Nektar Drop rewards for continued deposits in pre-launch initiatives — Enzyme vaults, Reserve bsdETH initiatives, Sommelier vaults, etc. — relating to the Nektar Network. Further including ongoing rewards for new initiatives, such as staking ETH into divETH (Diva Protocol’s LST), and its utilization in the broader DeFi ecosystem on Ethereum mainnet and beyond.
Stay tuned for more details on Epoch 1, which is scheduled to start on Wednesday May 1st!
Additionally, during Epoch 1 a referral program will be introduced to reward users with bonus Nektar Drops after a successful referral conversion — with 10% of the points their referrals earn — thereby promoting further growth of Nektar.
Future epochs will be designed based on the success of the initial phases and community input, ensuring the program evolves to meet community needs and the ever-evolving market dynamics.
You can currently view your Retroactive Nektar Drops at the Dashboard located at https://www.app.fuul.xyz/points/nektar, after connecting your wallet. A leaderboard allows you to compare your ranking against that of other community members. Expect more functionality — such as referrals — to be added to this dashboard in the future.
Alternatively, you can consult the full list in this Github Gist.
> How were retroactive Nektar Drops (points) calculated?
A: 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 5x 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 5, 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 5. 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. These Drops are not yet available, but will be added to the dashboard in the following week(s). 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. Calculations for this are ongoing by the Reserve Protocol team.
Specifics for others:
For POAP holders: A fixed number of 150 Nektar Drops per Diva Community POAP held by users were awarded. This includes POAPs related to Diva Community Calls, Operator Huddles, Tally voters and more. The full list can be found here.
For Operators in the latest Diva testnet on Holesky: all operators that registered prior to April 4th 2024, were awarded 250 Nektar Drops. Data was collected through Divascan.io and can be consulted 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 key shares with 16, to obtain the number of Nektar Drops. Details can be found here.
> When will new point rewards start?
A: 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?
A: 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?
A: Epoch 1 will end after a maximum duration of three months (on August 1) or when Nektar’s TVL reaches 250,000 ETH — whichever occurs first.
> How many epochs are there going to be?
A: 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?
A: 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?
A: 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 managed 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?
A: 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?
A: 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?
A: 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?
A: 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?
A: As of April 23rd, a total of 31,067,561 Nektar Drops have been distributed. 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?
A: 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?
A: 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?
A: 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?
A: 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.
We highly encourage community feedback. Let us know how we can improve or if there are any past activities that might have been missed, that should be recognized in the Retroactive Drops. As always, we welcome discussion in the Nektar Discord.
Follow Nektar Network on X | Farcaster | Telegram | LinkedIn
Nektar Network
