Wrap Distribution

Hey there,

Just a quick question about being eligible to receive WRAP as part of the weekly distribution. I see on the Wrap info page it says that “To be eligible, they need to stake their $WRAP on a Tezos smart contract.”

I’m unclear on what it means to stake the WRAP on a smart contract. I recently purchased WRAP through Quipuswap and am currently holding the WRAP in a wallet. Do I need to take additional action?

Thanks much for the help.

Hey there,

Currently, the weekly distribution is only based on your activity on the protocol (wrapping tokens from ethereum to tezos), and will only start one month after the initial release.
We are thinking about other ways to reward the community so stay tuned :wink:

The staking contract we talk about in this page will let you stake WRAP to earn a share of the fees collected by the protocol, not to participate in the weekly distribution.

1 Like

Gotcha, thanks for the clarification; very helpful!