DojoSwap ($DOJO) is a DEX built on Injective that aims to provide efficient trading and liquidity mining to the Injective ecosystem. The project have confirmed on their roadmap they will do an airdrop. Learn how to get the DojoSwap ($DOJO) token airdrop with this guide.
Check out our DojoSwap ($DOJO) token airdrop video guide!
What is DojoSwap ($DOJO)?
DojoSwap is a decentralized finance (DeFi) platform on Injective. It is designed to enable users to earn rewards by participating in liquidity provision and farming activities within the cryptocurrency ecosystem. DojoSwap offers a user-friendly way for users to yield farm, which involves staking and providing liquidity to various cryptocurrency assets.
Key features of DojoSwap include:
- Liquidity Provision: DojoSwap allows users to provide liquidity to cryptocurrency pairs, such as INJ and dINJ, to facilitate trading on DEXs.
- Staking INJ Tokens: Users stake their INJ tokens to earn dINJ rewards, which represent their share of the liquidity pool.
- Farming Rewards: By staking the liquidity pool tokens (e.g., dINJ-INJ LP), users can farm rewards. This includes validation APR from dINJ and Farm APR from $DOJO token emissions.
- Trading Fees: Users who provide liquidity can also earn trading fees accrued to the liquidity pool pair, enhancing their potential earnings.
In essence, DojoSwap simplifies the process of participating in DeFi activities. Thus, making it accessible to users who wish to earn rewards by providing liquidity and staking INJ tokens. It offers the opportunity to earn rewards through various mechanisms while facilitating cryptocurrency trading on decentralized platforms.
What is the DojoSwap ($DOJO) token?
The $DOJO token is the native token for the DojoSwap ecosystem, serving several essential purposes:
- Governance: DOJO token holders have the power to make decisions and influence the platform’s development and future directions through voting on proposals and changes.
- Rewards: DOJO tokens are distributed as rewards to liquidity providers and farmers, incentivizing users to participate in the platform by staking their tokens or providing liquidity.
- Staking: DOJO tokens can be staked, allowing users to earn more DOJO tokens over time, enhancing their overall holdings.
- Transaction Fee Reduction: DOJO holders enjoy reduced transaction fees when interacting with the DojoSwap platform, making it cost-effective for users.
DOJO is the backbone of the DojoSwap ecosystem, providing governance power, rewards, staking opportunities, and fee reduction benefits to users. It plays a central role in incentivizing and governing the platform, making it an integral part of the DojoSwap experience.
How to get the DojoSwap ($DOJO) token airdrop
Time needed: 29 minutes
Here’s how to get the DojoSwao ($DOJO) token airdrop
- Set up a wallet
DojoSwap supports the following web3 wallets: Metamask, Keplr, Leap and TrustWallet.
- Get Injective ($INJ) tokens
To participate in DojoSwap, you’ll need Injective Protocol (INJ) tokens. You can buy Injective ($INJ) on various cryptocurrency exchanges such as Bybit or Binance.
Sign up for a Bybit account here! - Transfer INJ tokens to your wallet
We suggest funding your wallet with INJ by transferring tokens to your Web3 wallet from your exchange wallet. This is because this is likely to cos the least transaction fees.
- Connect to DojoSwap
Visit the official DojoSwap website (make sure you are using the correct and official website) and click the “Connect” button on the top right hand side.
- Stake INJ
Go to https://dojo.trading/liquid-staking, select the amount of INJ you wish to stake and click “Stake”. You will earn DoJo Injective ($dINJ) tokens as a reward. Note that it will take 24 days to unstake. Alternatively, you can unstake immediately by swapping your $dINJ for $INJ, but this would result in some loss.
- BONUS: Maximise your $INJ returns
To maximise your staking returns and get the maximum effective ROI, stake half of your $INJ to receive $dINJ. Then, farm dINJ-INJ LP in equal amounts i.e. type in the same amount of $INJ and $dINJ. However, we recommend providing slightly less $INJ than what is in your wallet balance as you may need $INJ to pay transaction fees.
Finally, go to https://dojo.trading/farms and deposit everything into the dINJ-INJ LP farm. By doing this, you will receive $POINTs that will be redeemable to $DOJO, and trading fees generated by the dINJ/INJ liquidity pool pair. - Harvest farming rewards
Go to https://dojo.trading/farms and click “Harvest” under the farm you have deposited tokens.
- Claim airdrops
Connect to https://dojo.trading/airdrop. Check the upcoming airdrops and click “Claim” to claim the airdrops you are eligible for.
Check out our guide to the top airdrops on the Injective ecosystem!
DojoSwap airdrop review
Likelihood of airdrop: The likelihood that DojoSwap will do an airdrop is very high, as they confirmed on their roadmap that they will distribute $DOJO tokens to eligible participants.
Airdropped token allocation: Dojoswap have allocated 48 million tokens (6% of their total token supply) towards their airdrops, redemption of $POINTs for $DOJO as well as their marketing and ecosystem grant.
Airdrop difficulty: The airdrop difficulty is moderate as it involes buying and transferring INJ tokens, connecting to DojoSwap, staking INJ, and harvesting farming rewards. However, you will be using real funds to do this.
Token utility: DOJO holders receive a share of fees and token burning generated from protocol fees, along with unique privileges like access to exclusive launchpads and integrations with future partners.
Token lockup: There will not be any lockup for the $DOJO token.
