Signaling vs. Locking in the Edgeware Lockdrop
A simple cheatsheet for Lockdrop dates and the differences between signaling and locking in the Edgeware Lockdrop Event.
In the Edgeware Lockdrop, you have two options for participation:
Lock an amount of ETH into your Lockdrop User Contract (LUC) over a chosen duration of 3, 6 or 12 months to receive a greater proportion of EDG at network launch. There are also additional bonuses for locking sooner also - see the chart below for those. When the lock is initiated, the ETH moves from your control and will be released back to you 92 days or more (depending on your chosen duration) later - so when you get your ETH back always depends on when you lock and how long you lock for. Lock sooner, get the ETH back sooner.
Now, for the bonuses for locking, longer locks receive a greater weighted share of the final amount of EDG that is minted. That amount will be determined by the total amount of ETH locked in the Locked drop event. Track that progress here at the Lockdrop Stats page.
The following table shows the final bonus schedule for locking sooner.
If you signal, no ETH is moved, locked or otherwise removed from your control. It basically says "I want to participate in the Edgeware network!" and for this no-risk option, there are a few key features:
- No bonuses for locking sooner or longer, because this is not a lock.
- Signaling earns less EDG per ETH - a ratio of 0.20x, amounting to a 80% reduction compared to a three-month lock.
- Signalers will not receive the full allocation of EDG at the network launch on Sept 15. They will be allocated 25% of their due share at launch, and the remaining 75% of their share will be delivered 365 days later.
- To participate in the signal, you only have to submit an ETH address containing ETH during the lockdrop contribution period (June 1 - Aug 31 11:59 pm UTC,) – however, you only need to have the ETH you intend to signal in that wallet on 'Snapshot Day' which is Sept 1, 12:00 am UTC. So, if you intend to signal, you could move ETH to a wallet on Sept 1, complete the Lockdrop page, and then move your ETH out of that wallet the next day. There are no incentives to signal early or later, and it only matters where your ETH is on the Snapshot Day. See calendar below: