The Harbor Airdrop is now live for stakers and liquidity providers of eligible chains and pools! Find out everything you need to know in order to claim the Harbor airdrop in this comprehensive guide.
What is an Airdrop?
One of the easiest ways to stack new tokens and get free rewards in the Cosmos Ecosystem is by looking out for new project airdrops.
In essence, an airdrop is where a project team makes free tokens available to qualified wallets in order to generate interest in their community.
Every project has different requirements for airdrop eligibility such as performing tasks, or staking tokens.
What is Harbor Protocol?
Harbor protocol is a dApp on the Comdex chain that enables safe-listed assets to be locked in vaults & mint $CMST against them at a varying interest rate.
$HARBOR will serve as the governance token for managing policies on the protocol. Holders of $HARBOR tokens can lock their tokens for up to four months in exchange for $veHARBOR, which comes with increased voting power to determine key protocol parameters like reward distributions.
Harbor Token Distribution
According to the Comdex blog, 150 million tokens will be airdropped to projects in the Cosmos ecosystem. This is 15% of the total supply of 1 billion tokens.
- Half the total token supply will be distributed as 'Emissions' i.e. incentives over a period of ~6 years to the community.
- 15% will go to the Foundation, and 10% to the Team, vested over 2 years.
- The final 10% will go to Strategic partnerships, which include external incentivization and pool liquidity to expand adoption (community controlled).
Harbor Airdrop Split & Required Tasks
The $HARBOR airdrop is divided into two parts as follows:
- 20% $HARBOR: The first fifth of the airdrop is freely received in the form of $HARBOR tokens, allowing users to take part in the governance and working of the Harbor Protocol.
- 80% $veHARBOR: The majority of the tokens are airdropped in the form of $veHARBOR. These tokens have a lock-in period of four months after the completion of 'missions' or a 'magic transaction' (explained below).
Missions
To receive $veHARBOR, users that are required to perform 'missions', must complete the following tasks once:
- Vote on any proposal on the Harbor Protocol.
- Mint CMST on Harbor using any collateral.
- Lend CMST on the Commodo platform.
- LP on ATOM/CMDX pool on Cswap (min duration 1 epoch).
Magic Transaction
For some chains like Luna, Evmos, and Injective, stakers will have to perform a 'magic transaction' per eligible chain. This is completed by entering your chain address and Comdex address on the website (see full guide below for more).
What is the Aim of this Airdrop?
The Harbor Protocol team outline how:
"$HARBOR would serve a similar purpose for the Cosmos Ecosystem as MakerDAO does for Ethereum, and $CMST would inherit the role of $DAI for the interchain."
The token is being airdropped to many interchain projects in order to enable broader and more diverse community participation in governance.
Good governance would be tantamount to their aim of $CMST fulfilling the role of stablecoin for the interchain.
The team goes on to say:
"Interchain participants receiving the airdrop can use $HARBOR incentives to drive value toward their specific tokens CDPs. As a result, chains can directly reward $CMST minting via Harbor Protocol’s governance. This can be done by incentivizing Harbor governance for the Minting of $CMST through their tokens via external incentivization."
How do I Qualify for the $HARBOR Airdrop?
The Harbor airdrop will be eligible to stakers and liquidity providers from over 23 communities in the Cosmos ecosystem including big players such as Atom, Juno, and Osmosis.
See the full list of eligible chains and pools in the image below:
You can also check your $HARBOR and $veHARBOR airdrop allocations on the official website by connecting your Keplr or Ledger wallet.
Airdrop Snapshot Date, Whale Cap & Eligibility Criteria
To be fully eligible, you must have met the following criteria on the snapshot date of 24 October 2022. Across each chain, the whale cap is 50,000 $HARBOR tokens.
Stakers:
- Users must have had tokens worth a minimum of $250 staked on an eligible chain.*
- Balances that were vesting/unbonding do not qualify.
- Only non-custodial wallets are eligible.
*For CMDX chain the minimum criteria was only $1
Liquidity Providers:
LP's greater than $1 have been allocated their airdrop based on the ratio of their LP tokens to the Total LP tokens in the pool.
How To Claim The Harbor Airdrop Tutorial
In this step-by-step guide, we will show you how to claim your $HARBOR and $veHARBOR.
How to Claim The First 20% of The Airdrop
Step 1
Go to https://app.harborprotocol.one/more/airdrop, accept the terms of use and connect your Keplr or Ledgr wallet.
Step 2 - Airdrop For Chains
On the right hand side of the dashboard you will see the following chains:
Click on the 'Check Eligibility' button. A message will popup telling you exactly how much $Harbor and $veHarbor you are eligible for:
Congrats, you have now claimed for your eligible chains!
Step 3 - Airdrop For Chains with Magic Transaction
For certain chains, like Luna, you will need to complete a 'magic transaction'. You must do this for each individual chain.
To do this, click on the relevant logo and a popup will appear. Simply enter your chain address under 'Chain Address' and your Comdex address under 'Memo'.
Once the Harbor Protocol team receive your Comdex chain address, the tokens will be allocated to you.
You have now successfully claimed the first 20% of your Harbor airdrop!
How to Claim The Next 80% of The Airdrop - Missions
The second part of the airdrop ($veHARBOR) will be claimable by completing the following 'missions':
- Vote on any proposal on the Harbor Protocol.
- Mint CMST on Harbor using any collateral.
- Lend CMST on the Commodo platform.
- LP on ATOM/CMDX pool on Cswap (min duration 1 epoch).
At the time of writing, users will be unable to complete these missions and you will see that they are grayed out on your dashboard.
This is because there are no proposals currently up for voting, so it is not possible to begin completing the missions.
When it is possible to begin completing the missions, we will update the article with further instructions. Make sure to follow our Twitter page for updates.
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Other Airdrops
Now that you have experienced the thrill of free tokens, you may be eager to find more airdrops to add to your stack. Check out our $STRIDE airdrop guide.
Please be diligent when searching for new airdrops, and always take care to investigate projects thoroughly before attempting to claim.
General Tips To Avoid Airdrop Scams
- Always bookmark the official links of webpages to avoid phishing attacks. For example: official websites and help desks, Twitter pages, web wallets, Medium pages, and individual projects.
- By bookmarking official sites, you can avoid accidentally clicking on a scam website that is an identical imitation of the official one. These often appear as sponsored links on search engines and can be easy to miss.
- Legitimate airdrops will never ask you for your private key. If someone gains access to your private key, they can access to your wallet. Never share your private key.
- When looking to claim future airdrops, at a minimum always look for an official website, a whitepaper, and a social media presence. Check with official Cosmos websites and sources you trust before ever attempting to claim an airdrop.
Thank you for reading, fellow Cosmonauts! If you've been enjoying our work, please consider following our Twitter, or you can help us by sharing.
Disclaimer: none of the information given in this article is financial or investment advice. Please do your own research and assess your own risk.
