How to get LOAN airdrop on Proton

Download the Proton Wallet.

Metal have just announced an official date (June 15th at 12am PST) and details about the Proton Lend LOAN token airdrop to XPR and MTL holders and stakers!

From their blog;

We are excited to announce the introduction of LOAN governance token for Proton Lend and the incoming airdrop that can only be accessed directly on the Proton blockchain. The LOAN token will be used to vote on governance decisions such as which tokens can be collateralized on the protocol to borrow and lend, as well as the rates for borrowing

They have announced that the LOAN governance token can be earned in one of three ways:

1. The initial airdrop of LOAN to XMT, XPR and XPR short/long term stakers 
2. Liquidity mining on Proton Lend via providing liquidity to any approved pair on Proton Lend protocol
3. Liquidity mining on Proton Swap via providing liquidity against any LOAN pair

You can only access the initial airdrop as well as liquidity mining on the Proton blockchain, the Proton Lend and Proton Swap protocol. Which means you need to have your MTL and XPR on the Proton blockchain.

Download the Proton Wallet and move your $MTL & $XPR there ASAP!

And now for the juicy details, the distribution ratios of LOAN for the airdrop is broken down as follows:

  • 333:1 XMT (known as MTL on Ethereum)
  • 1:1 XPR
  • 2:1 XPR short stake
  • 10:1 XPR long stake 90 day
  • 30:1 XPR long stake 365 day
When is the LOAN Airdrop on Proton?

June 15th at 12am PST according to the announcement;

Proton Lend opens up a new possibility for borrowing and lending against multiple blockchains that were not accessible on Ethereum or other protocols previously. The LOAN airdrop will commence on June 15th at 12am PST, any of the listed tokens that are held on Proton or in short or long staking contract at that time will receive the airdrop.

For more information on staking and the LOAN airdrop, read the official announcement here.