About Timeless Airdrop
Timeless Airdrop is a yield tokenization protocol where the yield tokens never expire. Timeless splits user deposits into two types of yield tokens: Perpetual Yield Token (PYT), whose holders receive the yield generated by the user deposits, and Negative Yield Token (NYT), whose market price moves in the opposite direction as PYT.
Timeless is airdropping a total of 10,000,000 LIT to early Timeless and Bunny users. Early users who’ve used Timeless before September 24th, 2022 or Bunny by January 1st, 2023 are eligible to claim free LIT. A selected number of Uniswap v3 LPs are also eligible for the airdrop.
|Token Name||Timeless Airdrop|
|Total Value||10,000,000 LIT|
|KYC||KYC Is Not requirement|
|Whitepaper||Click Here To View|
|Collect Airdrop||Click Here To Collect Free Airdrop|
How To Join Timeless Airdrop
- Visit the Timeless Airdrop claim page.
- Connect your wallet.
- If you’re eligible then you will be able to claim free LIT tokens.
- Users who’ve used Timeless before September 24th, 2022 or used Bunny before January 1st, 2023 are eligible to claim free LIT. A selected number of Uniswap v3 LPs are also eligible for the airdrop.
- Eligible users have until March 1st, 2023 at 12 pm PT to claim the tokens else it will be returned to the governance treasury.
- For more information regarding the airdrop, see this announcement tweet.
How does Timeless work?
Timeless Airdrop is a yield market protocol. You can provide assets to Timeless (e.g. 100 USDC) and mint PYT and NYT (e.g. 100 PYT and 100 NYT). The assets will be deposited into a farm, and the yield earned can be claimed by the PYT holders. By holding either only PYT or only NYT, you can build either a long position or short position on yield rates.
Unlock your yield’s potential
With Timeless Airdrop , you can do so much more than putting your money in a yield farm. Boost your yield, hedge against falling yield rates, or speculate on yield rate changes.
Boost your yield
Do you want to earn more yield? Timeless lets you do just that. Boost your yield by up to 2x for any supported farm.
Hedge against falling yield rates
Worried that yield rates might fall? Timeless Airdrop enables you to hedge against such risks. Earn a stable yield rate regardless of future rate changes.
Trade future yield changes
Do you think you know how yield rates might change? Timeless lets you put your money where your mouth is. Speculate on future yield rate changes by trading Timeless yield tokens.
Yield tokens do the hard work
Timeless Airdrop is powered by yield tokens, specially designed ERC-20 tokens whose values are related to yield rates. Each farm corresponds to a set of three yield tokens.
Perpetual Yield Token
PYT lets its holder claim the yield generated by the underlying assets. PYT goes up in price when the yield rate goes up.
Negative Yield Token
The price of NYT moves opposite to how the yield rate moves. If the rate goes up, NYT goes down; if the rate goes down, NYT goes up.
Auto-compound the yield earned into more PYT.
xPYT makes it easier to boost your yield and decreases the cost. It also makes it easier to integrate Timeless into existing DeFi infrastructure.
Yield tokenization refers to taking a yield-bearing asset (e.g. Yearn USDC vault) and splitting the yield stream out to another token. In the context of Timeless, this means splitting into Perpetual Yield Token (PYT), whose holders receive the yield generated by the user deposits, and Negative Yield Token (NYT).
Users deposit assets into Timeless to mint PYT & NYT, and burn PYT & NYT together to get back the assets. Each yield source (e.g. Yearn USDC vault) corresponds to a pair of PYT and NYT, so users can specify which yield source they want to use.