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YieldNest Airdrop for PrimeStaked Users: All You Need to Know

July 2, 2024

With the successful passage of a recent governance proposal, Origin is embarking on a long-term partnership with liquid restaking innovators, YieldNest. This integration will see primeETH merge with YieldNest’s native LRT, ynLSD.

YieldNest has earmarked substantial incentives for PrimeStaked users, featuring allocations for primeXP holders and those who migrate to ynLSD. Specifically, users will qualify for allocations of the protocol’s governance and value accrual token, YND, over multiple phases. Furthermore, xOGN holders will also receive a YND allocation at TGE.

Users can connect their wallets to YieldNest's portfolio page to check their balances.

Key Dates:

  • Migration: Q3 2024
  • Season 1: Commences following migration

Incentives for the Origin Community

YieldNest’s incentive structure meaningfully rewards the Origin community for migrating TVL to the protocol. The protocol aims to be the most community-centric LRT platform, allocating at least 60% of the total YND supply to the YieldNest and Origin communities. YND will be distributed across multiple seasons to reward ongoing support.

Exclusive Retroactive PrimeStaked YND Airdrop

A snapshot of users’ Prime XP holdings will be taken as migration goes live. Holders qualify for a pro-rata share of YND based on how much primeETH XP they have accrued.

Upcoming Seasons

Users who migrate to ynLSD also qualify for future seasons of YieldNest airdrops, with Season 1 commencing with the launch of migration. The protocol anticipates that the airdrop will make a significant impact in the restaking sector, and is planning to scale allocations in tandem with protocol TVL growth. YieldNest’s initial incentives will amount to more than 15% of total YND supply, substantially higher than similar protocol airdrops.

  • primeETH holders who migrate to ynLSD will qualify for a pro rata share of YND relative to the TVL contributed through migration. Points, or Seeds, will continue to accrue for users as long as they hold ynLSD.
  • All primeETH holders who participate in migration will receive a further 5% Seeds Boost at the start of the next season.
  • Users can also migrate a minimum of 5 primeETH to mint an exclusive YieldNest Pioneer NFT. This NFT carries a permanent 15% Seeds Boost for holders, while also providing early access to governance and new yield opportunities.

OGN Stakers (xOGN Holders)

YieldNest plans to allocate up to 2.5% of YND supply to xOGN stakers, available for claim at TGE. This allocation rewards the Origin community as a whole for contributing TVL to YieldNest’s product suite.

Migration Inbound

We appreciate the community’s continued patience as we finalize PrimeStaked’s future trajectory. With work on migration and withdrawal mechanics reaching completion, users will soon be able to migrate their holdings and accrue substantial YND incentives for their support.

Make sure to follow us on X and join the Origin Discord server to keep up with the latest updates as they’re announced.

Yasthiel Devraj
Yasthiel Devraj
Originally released by Origin Protocol
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