Welcome to Keplr Help Desk ๐Ÿ”ญ

Getting started with Osmosis

Written by Keplr Agent
Updated 1 month ago

Osmosis is an advanced AMM protocol built using the Cosmos SDK that will allow developers to design, build, and deploy their own customized AMMs.

๐Ÿ’ฒ Which tokens will be available on the AMM at the launch?

$ATOM $AKT $REGEN $DVPN $XPRT $IRIS $CRO and more coming via IBC!

๐Ÿ‘ฉ๐Ÿป‍๐Ÿš€ I'm an $ATOM holder, when can I claim my $OSMO airdrop?

Right after the Osmosis launch expected for June 19th, if you're eligible, you will receive an initial 20% of the total $OSMO allocation.

Learn how to claim the remaining 80% reading the section [How to Claim Osmosis $OSMO Airdrop]

โš  You can claim the full total of your $OSMO allocation only by performing the required tasks within the first 2 months after the launch of Osmosis. After the second month, the claimable $OSMO per account will decrease linearly over the next 4 months.

6 months after the launch of Osmosis, all unclaimed fairdrop tokens will be transferred to the on-chain community pool.

๐Ÿ’ธ How to Claim Osmosis $OSMO Airdrop

There are a total of 50 Million OSMO allocated to ATOM holders as per snapshot taken during the Cosmos Hub Stargate Upgrade (February 18, 2021). To be eligible, your ATOM had to be held in a non-custodial wallet at the time of the snapshot. If your ATOM were inside a centralized exchange, you are not eligible for the airdrop.

You can get an estimate of the number of $OSMO you will receive if you complete all the steps required by the team using this link. 20% of every account’s airdrop allocation was made immediately available after Osmosis Zone genesis but to receive the 100% of your $OSMO you must follow the steps described below:

• Import your cosmos hub ($ATOM) mainnet address (the one in which you had your tokens at the moment of the snapshot) on Keplr wallet

• Make a swap

• Add liquidity to a Pool

• Stake $OSMO

• Vote on a Governance Proposal You can find out how to to do so with this tutorial [OSMO Airdrop Walkthrough]

โš  You can claim the full total of your OSMO allocation by performing these tasks within the first 2 months after the launch of Osmosis. After the second month, the claimable OSMO per account will decrease linearly over the next 4 months. 6 months after the launch of Osmosis, all unclaimed fairdrop tokens will be transferred to the on-chain community pool.

๐Ÿ’ฐ I missed the airdrop snapshot, do I have other chances to participate?

Don't feel too bad, there will be plenty of possibilities:

• You can use the available pools to swap for $OSMO some of the other tokens you own.

• A governance proposal about liquidity mining is expected to be live immediately after launch and, as the voting period lasts only 3 days, liquidity incentives may be activated as soon as 3 days after genesis. Set up your Keplr Wallet and Read More in this article.

Remember that with your $OSMO you can also choose to stake and participate in Osmosis Governance!

๐Ÿงช Liquidity Providing (LPing)

Providing liquidity (called “LPing”) is the process of depositing assets into an AMM pool. Taking as an example $OSMO<>$ATOM pool, users can deposit their $OSMO and $ATOM tokens into the pool and receive back that pool share tokens. These share tokens (called LP tokens) represent one’s proportional ownership of the pool and are based on the percentage of liquidity provided in relation to the total liquidity available in the entire pool. This percentage is also used to calculate the percentage of profit you get every time a customer swaps using the pool. Most AMMs require that assets be added at a 50–50 ratio but Osmosis allows pools with customized weights and even liquidity pools with more than two assets.

๐Ÿšจ When providing liquidity to Osmosis pools, remember to always take into account the [Impermanent Loss]. Impermanent loss is mitigated by the transaction fees earned by LPs and, in the early stages of the protocol, by recurring to liquidity mining rewards. Read more about LPing in this article.

๐Ÿ’ฅ How to bond tokens to Pools [LP]

Go to Pools -> Click on your Pool -> Start Earning

๐Ÿ•ต๐Ÿป‍โ™€๏ธ What is $ION

The creation of a mad scientist.

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