In a significant development for the Nektar Network, Epoch 1 for Nektar Drops officially commences today, May 1, 2024. This epoch marks the beginning of a dedicated phase aimed at recognizing and documenting the contributions of community members through daily Nektar Drops, earned by actively participating in predefined activities within the Nektar ecosystem. The epoch is scheduled to conclude on June 1, 2024, or upon reaching a total value locked (TVL) of 250,000 ETH, whichever comes first.

Participants in Epoch 1 will have the opportunity to earn Nektar Drops by engaging with various pre-launch initiatives, including Enzyme vaults, Reserve bsdETH initiatives, and Sommelier vaults. The reward structure for each ETH deposited in these initiatives differs slightly, with participants receiving 25 Nektar Drops per day for deposits on Ethereum mainnet and 20 Nektar Drops per ETH per day for deposits on Base.

Specifically, the allocation of retroactive Nektar Drops has been revised to significantly increase the number of drops distributed to Goerli and Holesky testnet operators by over 50 times. Furthermore, a 10-fold increase has been implemented across all other participant categories to better acknowledge their activities and contributions.

Although referral rewards are pending final technical enhancements in partnership with the Fuul team, they are expected to be introduced later during Epoch 1. This addition aims for seamless integration into the existing reward structure.

The launch of Epoch 1 underscores Nektar Network's commitment to community engagement and represents a significant milestone in its journey. More detailed information on Nektar Drops and upcoming stages in the Pollination Campaign will be provided soon.

Nektar Network is a multilayered restaking network built on top of Ethereum. Comprising various components, it forms a comprehensive incentives system designed to democratize access to Ethereum's trust model. For further details about Nektar Network, interested users can visit the official website or follow updates on Farcaster and X.

Please note that Nektar Network is the source of this content. This Press Release is for informational purposes only and does not constitute investment advice or an offer to invest. Engaging with smart contracts can pose security risks.