The airdrop will be distributed on August 10, with 2.71 million $VELVET. Is it worth going for? I calculated the rules.
Many people have a habit when doing airdrops: register, check‑in, hold, and then wait for the results.
At the end they receive only a few dozen dollars and start complaining that the project team is too stingy.
But after reviewing Velvet's rules for this round, I feel it's less about giving away freebies and more about rewarding people who actually use the product.
This time a total of 2,710,049 $VELVET will be distributed; based on the current price, its total value already exceeds $1 million, and it will be officially released on August 10.
@Velvet_Capital
The most important point is that everyone gets a share.
Rewards are allocated entirely according to the Gems leaderboard.
The top rank takes 5% alone, the top ten generally receive a substantial share, and the allocation decreases with rank until it stops at Top 425.
Seeing this, you can understand what kind of users the project is looking for.
They don’t just want you to register once.
They want you to stay permanently.
Many people, at first glance at how to earn Gems, think there’s nothing special.
Staking, trading, referral.
Other platforms basically use the same set.
What really creates the gap is the multiplier mechanism that follows.
I did the math; the biggest impact isn’t the principal, but continuous usage.
Completing the Daily Challenge for more than 30 consecutive days boosts Gems earnings directly to 150%.
In other words, with the same trading and staking activity, people who consistently check‑in will earn far more points than idle users.
The amplification effect of trading volume is even more pronounced.
After accumulating $2 million in trading volume, Gems are amplified to 350%, and for each additional $1 million, the multiplier keeps stacking upward.
If you add the 2× boost from a Founders Club NFT, the gap between leaderboard positions widens rapidly.
Thus this airdrop isn’t about who has the largest principal winning.
The true advantage goes to users who have been continuously using Velvet.
Staking represents long‑term holding.
Continuous trading indicates genuine activity.
Daily check‑ins represent retention.
What the project truly rewards are people who exhibit all three behaviors simultaneously.
There’s another point that many people tend to overlook.
Climbing the leaderboard doesn’t necessarily mean you have to bear high trading costs.
Velvet itself has no subscription fee and offers up to 100% cashback.
If you combine veVELVET and trading rebates, a large portion of spot trading costs are already covered; the 0.1% fee for Perps is also among the lowest in comparable products.
In other words, if you’re already trading, climbing the leaderboard is more like earning an extra airdrop effortlessly, rather than spending a large amount of fees just for the airdrop.
The referral system works the same way.
Referrers not only receive a lifetime 50% share of the invitee’s trading fees, but the referral action itself continues to increase Gems.
Commissions grow together with leaderboard ranking, which is why many people have recently started to meticulously manage their invite links.
Of course, this mechanism has another side.
High referral rewards will inevitably attract many KOLs and promoters; if product experience can’t keep up, it can easily degenerate into “bringing people in just to bring people in.”
But if the product itself can retain users, this growth flywheel will spin quickly.
Currently VelvetX is still invitation‑only, with new Waitlist spots opening daily.
There’s only a short time left before August 10.
If you only plan to register, check‑in, and wait for the airdrop, I don’t think this round will bring much surprise.
But if you’re already trading and are willing to keep using the product, these rules are definitely worth studying carefully.
At least from this airdrop, Velvet rewards not the “people who just passed by,” but those who truly stay.
