TrustSwap, a DeFi and smart contracts platform, has launched FlashDrop, a program designed to incentivize smaller stakers. FlashDrop aims to decrease the entry barrier for new token holders without diluting existing TrustSwap (SWAP) coin stakers.
The first FlashDrop program will offer YLD token — the native cryptocurrency of Yield App — to anyone who creates an account on Yield App, verifies it, and stakes at least 500 SWAP tokens.
What is Yield App?
Yield App is a DeFi-based wealth management platform. The project conducted a token launch on Dec. 7, 2020, via the TrustSwap Launchpad. Yield App users can earn up to 20% APY on coins such as Bitcoin (BTC), Tether (USDT), Ether (ETH) and USD Coin (USDC).
The TrustSwap Launchpad was created to help emerging DeFi projects, improving their odds of surviving in the competitive DeFi sector. Every launchpad applicant goes through a vetting procedure by TrustSwap’s team. If approved, TrustSwap assists the project with marketing, community building and project management.
Do you want to join TrustSwap’s upcoming FlashDrop? Here is what you need to know
The YLD coin price has so far surged by over 1,700%. FlashDrop will distribute 500 tokens to 3,000 winners. Every winner will get a fixed amount of 500 YLD. The lottery event will take place on April 23 at 9 am PST and will run for 12 hours.
Each registered account on Yield App with 1,000 YLD tokens will also receive a second ticket, pending they also hold 500 SWAP.
Users will be ineligible if they already claimed a YLD airdrop in the SwapDrop round. Also, United States citizens and residents will be excluded. Each individual is eligible for only a single claim unless the participant also owns a Golden Ticket.