It has been two days since the SNOW Airdrop Claim and Crowdloan Contribution Rewards have gone LIVE and the community response has been amazing! Over 1,840 airdrop claims have already been made and over 74,023,259 ICZ has been distributed to crowdloan contributors.

SNOW Network stability and security

Providing a safe and stable SNOW Network is of utmost importance to the ICE/SNOW team. Months of (stress)testing and configuring core blockchain infrastructure across testnets have preceded the SNOW Airdrop Claim and Crowdloan Contribution Rewards launch.

The September Development Update outlines this month’s development focus, making mention of the Epirus EVM explorer for SNOW. The EVM-explorer is a valuable tool for any platform launching on the EVM compatible environment that SNOW Network offers.

Please note that the Substrate-explorer is already live here. Learn more about the difference between Substrate and EVM!

Everest Swap launching on the 31st of October

Everest Swap is an automated liquidity protocol powered by a constant product formula inspired by Uniswap-V2 and implemented in a system of non-upgradeable smart contracts on the SNOW Network blockchain. Everest is open-source software licensed under the GPL. The Everest Swap team intends to innovate around the original smart contract code base and expand the functionalities of the trading and swapping ecosystem moving forward.

The SNOW Network is a new and open blockchain, by the ICE/SNOW team, welcoming all dApps to come and build their projects. In light of this very recent SNOW Network genesis, it is all the more important for the first projects on SNOW to launch with all the right tools at their disposal.

After close deliberation, both teams have decided to work towards launching token staking and the decentralized exchange platform at the same time on the 31st of October.

As both teams work towards the 31st of October launch, additional incentivized liquidity allocation for Everest Swap is being explored.

Staking with the SNOW Staking Vault on the 31st of October

The SNOW Staking Vault is a precursor to formal on-chain governance (e.g. nominated proof of stake) using an on-chain token locking contract that rewards participants, based on their entry dates, staking amounts and selected lock-up periods.

Early participation and longer lock-up periods will receive greater SNOW ($ICZ) token rewards. A separate SNOW Staking Vault announcement will be published closer to the launch date of October 31st.