DojoSwap ($DOJO) Token Airdrop Information
DojoSwap ($DOJO) is a DEX built on top of Injective that aims to provide efficient trading and liquidity mining for the Injective ecosystem. The project confirmed in its roadmap that it will conduct airdrops. Learn how to receive the DojoSwap ($DOJO) token airdrop with this guide.
Check out the DojoSwap ($DOJO) token airdrop video guide!
What is DojoSwap ($DOJO)?
DojoSwap is Injective’s decentralized finance (DeFi) platform. It is designed to allow users to receive rewards by participating in liquidity provision and farming activities within the cryptocurrency ecosystem. DojoSwap provides a user-friendly way for Yield Farm where users can stake and provide liquidity to a variety of cryptocurrency assets.
DojoSwap’s main features include:
- Provide liquidity: DojoSwap allows users to facilitate DEX trading by providing liquidity to cryptocurrency pairs such as INJ and dINJ.
- INJ Token Staking: Users stake INJ tokens to earn dINJ rewards, which represent their share of the liquidity pool.
- Farming Rewards: By staking liquidity pool tokens (e.g. dINJ-INJ LP), users can earn rewards. This includes the Verification APR of dINJ and the Farm APR of $DOJO token emission.
- Transaction Fee: Users providing liquidity can also increase their potential profits by earning trading fees accrued on liquidity pool pairs.
In essence, DojoSwap simplifies the process of engaging in DeFi activities. Therefore, it provides liquidity and makes it accessible to users who want to earn rewards by staking INJ tokens. It facilitates cryptocurrency trading on a decentralized platform while providing opportunities to earn rewards through a variety of mechanisms.
What is DojoSwap ($DOJO) token?
The $DOJO token is the native token of the DojoSwap ecosystem and serves several essential purposes:
- rule: DOJO token holders have the power to make decisions and influence the development and future direction of the platform by voting on proposals and changes.
- compensation: DOJO tokens will be distributed as rewards to liquidity providers and farmers, encouraging users to participate in the platform by staking tokens or providing liquidity.
- Staking: DOJO tokens can be staked, allowing users to earn more DOJO tokens over time, increasing their overall holdings.
- Reduce transaction fees: DOJO holders receive reduced transaction fees when interacting with the DojoSwap platform, making it cost-effective for users.
DOJO is the backbone of the DojoSwap ecosystem, providing users with governance rights, rewards, staking opportunities, and reduced fees. It plays a central role in incentivizing and managing the platform, making it an integral part of the DojoSwap experience.
How to receive DojoSwap ($DOJO) token airdrop
necessary time: 29 minutes
Here’s how to receive the DojoSwao ($DOJO) token airdrop:
- Wallet Settings
DojoSwap supports web3 wallets such as Metamask, Keplr, Leap, and TrustWallet.
- Receive injectable ($INJ) tokens
Participating in DojoSwap requires INJ (Injective Protocol) tokens. You can purchase Injective ($INJ) on various cryptocurrency exchanges such as Bybit and Binance.
Register your Bybit account here!
- Transfer INJ tokens to your wallet
We recommend funding your wallet with INJ by transferring tokens from your exchange wallet to your Web3 wallet. This is because transaction fees are likely to be the lowest.
- Connect to DojoSwap
Visit the official DojoSwap website (make sure you’re using the correct official website) and click the “Connect” button in the top right corner.
- Steak INJ
Go to https://dojo.trading/liquid-stake, select the amount of INJ you want to stake and click “Stake”. As a reward, you will receive DoJo Injective ($dINJ) tokens. Unstaking takes 24 days. Alternatively, you can exchange $dINJ for $INJ to free your stake immediately, but this may result in some losses.
- Bonus: Maximize $INJ Profits
To maximize your staking returns and get the maximum effective ROI, stake half of your $INJ to receive $dINJ. Then farm the same amount of dINJ-INJ LP. That is, enter equal amounts of $INJ and $dINJ. However, since you may need $INJ to pay transaction fees, it is recommended that you provide $INJ in an amount slightly less than your wallet balance.
Finally, go to https://dojo.trading/farms and deposit everything into your dINJ-INJ LP farm. Through this, you will receive $POINT which can be exchanged for $DOJO and trading fees generated from the dINJ/INJ liquidity pool pair.
- harvest farming rewards
Go to https://dojo.trading/farms and click “Harvest” under the farm where you deposited your tokens.
Check out our guide to the best airdrops in the Injective ecosystem!
DojoSwap Airdrop Review
Airdrop possibilities: It is very likely that DojoSwap will conduct an airdrop, as it has confirmed in its roadmap that it will distribute $DOJO tokens to eligible participants.
Airdropped token allocation: Dojoswap has allocated 48 million tokens (6% of total token supply) for airdrops, $POINT redemptions for $DOJO, and marketing and ecosystem subsidies.
Airdrop Difficulty: The airdrop difficulty is moderate as it involves purchasing and transferring INJ tokens, connecting to DojoSwap, staking INJ, and harvesting agricultural rewards. However, you will be using real money to do this.
Token Utility: DOJO holders receive a share of fees and token burns generated from protocol fees, along with unique privileges such as access to an exclusive launchpad and integration with future partners.
Token Lockup: There is no lockup on $DOJO tokens.
