The Swan launch airdrop
100,000SWAN
An equal share for every qualifying address.
One shared pool, 1% of the 10,000,000 SWAN supply, for qualifying wallets from Curve, Convex, Yearn, Stake DAO and Inverse.
Participation opens Thursday, 22 October at 16:00 UTC.
Eligibility
Check your address
The snapshot list holds 12,078 addresses from five launch communities. Check snapshot eligibility and the full terms before depositing.
How to qualify
Hold at least 1,000 sSwanUSD for 7 continuous days
Each wallet runs its own 7-day period, any time after launch. It must be complete by 19 November at 16:00 UTC; the latest start is 12 November at 16:00 UTC. Once qualified, you do not need to keep holding until the campaign ends.
7 continuous days
Both routes count
Hold sSwanUSD directly
Stake swanUSD as sSwanUSD and keep it in your wallet.
Deposit in SWAN-rewards staking
Deposit sSwanUSD in the SWAN-rewards staking contract to earn SWAN emissions. Deposited sSwanUSD counts toward qualification.
Unstaked swanUSD alone does not qualify. Falling below 1,000 sSwanUSD before 7 days are complete breaks the run; a later complete run can still qualify before the deadline.
TODO how direct and SWAN-rewards-staked sSwanUSD combine, and whether moving between the two keeps a run alive
Timeline
Within 28 days of launch
All times are UTC.
- 19 October 2026, 13:34:35 UTCSnapshotBlock 26,226,951 fixes the list of eligible addresses.
- Thursday, 22 October at 16:00 UTCLaunchParticipation opens. Start a 7-day run any time after launch.
- 12 November at 16:00 UTCLatest startThe last moment to begin a run that can finish in time.
- 19 November at 16:00 UTCCampaign endsEvery qualifying run must be complete.
- After the campaignVerificationQualification is verified once the campaign ends.
- To be announcedClaims openClaims follow campaign completion and verification. Claim details will follow.
Allocation
100,000 SWAN÷N
N is the number of eligible addresses that complete qualification, not every address on the snapshot list. Fewer successful activations mean a larger allocation for each participant.
| If N is | Each address receives |
|---|---|
| 10 | 10,000 SWAN |
| 100 | 1,000 SWAN |
| 1,000 | 100 SWAN |
| 10,000 | 10 SWAN |
Earlier entry does not lock in a larger reward. Larger deposits, longer holding and membership of several cohorts do not increase the allocation.
Snapshot
Block 26,226,951
Taken on Ethereum mainnet at 19 October 2026, 13:34:35 UTC. Any positive qualifying balance at that block counts, and collateral counts for the position owner with or without debt. No LP look-through.
- Block
- 26,226,951
- Time
- 19 October 2026, 13:34:35 UTC
- Eligible addresses
- 12,078, deduplicated
- Supported positions
- 27 position types
Eligible addresses by cohort
| Cohort | Community | Addresses |
|---|---|---|
| veCRV | Curve | 2,978 |
| vlCVX | Convex | 2,961 |
| yCRV | Yearn | 1,440 |
| sdCRV | Stake DAO | 1,177 |
| vlSDT | Stake DAO | 230 |
| INV | Inverse | 4,545 |
| Deduplicated total | 12,078 | |
Cohorts overlap, so the total is smaller than the sum.
Supported positions
Convex
- Direct vlCVX, including pending or unexpired principal0x72a19342e8f1838460ebfccef09f6585e32db86e
- pxCVX0xbce0cf87f513102f22232436cca2ca49e815c3ac
- Union pxCVX vault shares0x8659fc767cad6005de79af65dafe4249c57927af
- Pirex spxCVX principal receipts0xe47e8b5b4ee05b7663b15087381bd47bcbd20fc3
- Pirex upxCVX redemption receipts, only before unlock time0x7a3d81cfc5a942abe9ec656eff818f7dab4e0fe1
- CLever CVX deposits and pending unlocks0x96c68d861ada016ed98c30c810879f9df7c64154
- cvgCVX0x2191df768ad71140f9f3e96c1e4407a4aa31d082
- Staked cvgCVX receipts0x2c1d293c50c6d1a4370ebb442a02c5956bbab119
- cvgCVX vault shares0x0849b046292293f78df3002f8461f8a7e2ec2b82
- cvgCVX strategy shares0x8ed5ab1ba2b2e434361858cbd3ca9f374e8b0359
Yearn
- yCRV0xfcc5c47be19d06bf83eb04298b026f81069ff65b
- yCRV staking, current0xe9a115b77a1057c918f997c32663fdce24fb873f
- yCRV staking, legacy0x84c94d739e075b3c7431bdb1a005f0412df828a5
- yvyCRV / st-yCRV0x27b5739e22ad9033bcbf192059122d163b60349d
- st-yCRV collateral on FiRM0x27b6c301fd441f3345d61b7a4245e1f823c3f9c4
Stake DAO
- sdCRV0xd1b5651e55d4ceed36251c61c50c889b36f6abb5
- Staked sdCRV0x7f50786a0b15723d741727882ee99a0bf34e3466
- asdCRV (auto-compounding sdCRV)0x43e54c2e7b3e294de3a155785f52ab49d87b9922
- Direct sdCRV BoostHub staking 10xa6730b33203f005cab6c80a2ff1d8b73e1947f2c
- Direct sdCRV BoostHub staking 20x93305ecbef2f6c712dca7ad95a6280b5c59bb11e
- vlSDT0x94818a7baa7e9f5dc62ce4da1b52ef9a760b80b8
Inverse
- INV (liquid)0x41d5d79431a913c4ae7d69a668ecdfe5ff9dfb68
- INV staking or collateral on FiRM0xb516247596ca36bf32876199fbdcad6b3322330b
- sINV v20x08d23468a467d2bb86fae0e32f247a26c7e2e994
- sINV v1 (legacy)0x857b87171c99c234ac7dcd6a96859e78b1d1a625
- sINV collateral on Monolith0xf8b349da9244253288f6853835e6582955fd49c9
Not included: standalone xINV, lp-yCRV v1 and v2, yveCRV, yvBOOST, extra Yearn sdCRV vaults, clevCVX debt tokens, Pirex reward or vote-only futures (rpxCVX, vpxCVX), already-unlocked upxCVX redemptions and fully unlocked CLever principal.
SHA-256 6ee46315b8babc5c433bea72733526cc0addc3fc6322c9027a33555759ee8d50
Claim
Claims open after the campaign and verification
The claim opening date and expiry have not been announced. Claims use a Merkle proof, and unclaimed SWAN can be recovered by the team after the expiry.
Airdrop distributor: published before claims open
Questions
How large is the pool?
The pool is one shared 100,000 SWAN allocation, equal to 1% of the 10,000,000 supply, across all five communities. The final allocation per wallet is 100,000 SWAN divided by the number of eligible wallets that complete qualification; it is not divided by every address on the initial list.
What do I need to hold?
An eligible wallet must keep at least 1,000 qualifying sSwanUSD units for 7 continuous days. Direct holdings and sSwanUSD deposited in the SWAN-rewards staking contract count. Unstaked swanUSD alone does not qualify.
Do I have to keep holding until the campaign ends?
Each wallet can complete its own seven-day period. After completing it, the wallet does not need to keep holding until the campaign ends. Falling below the threshold before completion breaks that run; a later complete run can still qualify before the deadline.
Does a larger balance earn more?
Qualifying addresses receive equal allocations and are deduplicated across communities. Larger balances, longer holding and membership of multiple cohorts do not increase the allocation.
When can I claim?
Participation opens at launch. Claims follow campaign completion and verification; a claim opening date and expiry have not been announced.
What are swanUSD, sSwanUSD, SwanDAO and SWAN?
swanUSD is the stablecoin; sSwanUSD is staked swanUSD; SwanDAO is the DAO; SWAN is the governance token. Depositing sSwanUSD to earn SWAN rewards is distinct from staking SWAN for governance.
Which chains and positions count?
Ethereum mainnet only, with any positive qualifying snapshot balance included. No LP look-through. The supported positions are listed under Snapshot above.
My address is missing from the list.
If an address held a supported position at block 26,226,951 but is not on the list, it can be submitted for review during the 21-day review window. Request a review TODO where users request a missing address
Terms
Campaign terms
Eligibility
- Only addresses on the snapshot list can qualify. The list was taken on Ethereum mainnet at block 26,226,951 (19 October 2026, 13:34:35 UTC) and covers the supported positions listed above.
- A qualifying address keeps at least 1,000 sSwanUSD for 7 continuous days. The threshold is measured in sSwanUSD token units, not dollar value or the underlying swanUSD amount.
- sSwanUSD held directly and sSwanUSD deposited in the SWAN-rewards staking contract both count. Unstaked swanUSD alone does not qualify. TODO how direct and SWAN-rewards-staked sSwanUSD combine, and whether moving between the two keeps a run alive
Timing
- Participation opens at launch, Thursday, 22 October at 16:00 UTC. The campaign ends 19 November at 16:00 UTC.
- Each address can complete its own 7-day period any time in that window. The latest start for a run that can finish in time is 12 November at 16:00 UTC.
- Falling below the threshold before completion breaks that run; a later complete run can still qualify before the deadline. After completing a run, an address does not need to keep holding until the campaign ends.
Allocation and claims
- The pool is 100,000 SWAN, 1% of the 10,000,000 SWAN supply, shared across all five communities. Each qualifying address receives an equal share: 100,000 SWAN divided by the number of addresses that complete qualification.
- One reward per address, deduplicated across communities and positions. This is one reward per address, not per person. Larger balances, longer holding and membership of several cohorts do not increase the allocation.
- Allocations are rounded down to token precision. TODO what happens to rounding dust from the equal split
- Claims open after the campaign ends and qualification is verified, through a Merkle claim contract with an expiry. The claim opening date and expiry will be announced. After the expiry, unclaimed SWAN can be recovered by the team.
- An address that held a supported position at the snapshot block but is missing from the list can be submitted for review during a 21-day window ending TODO end date of the 21-day missing-address window. Request a review TODO where users request a missing address
All times are UTC.