💸Airdrop
The Velvet Airdrop distributes $VELVET to platform users every epoch. It is designed to reward the traders, stakers, and community members who actively use the platform and help it grow.
You can track your rank, gems, and rewards on the Rewards page.
Epochs
$VELVET is distributed in epochs. At the end of each epoch, the Gem leaderboard is snapshotted and the epoch’s allocation is distributed based on your rank.
Current epoch: ends August 10, 2026, with a distribution of 2,710,049 $VELVET.
Allocation
Your share of this epoch’s distribution is determined by your position on the Gem leaderboard:
Top Rank Allocations
Rank 1
5%
Rank 2
4.5%
Rank 3
4%
Rank 4
3.5%
Rank 5
3%
Rank 6
2.5%
Rank 7
2%
Rank 8
1.75%
Rank 9
1.5%
Rank 10
1.25%
Mid Tier Ranks
Ranks 11 to 50: Sliding scale from 1.24% to 0.355%
Ranks 51 to 425: Sliding scale from 0.35% to 0.002%
Long Tail
Rank 426 and above still receive a small share of the remaining rewards, ensuring all active users continue to benefit.
The detailed allocation table for the top 200 ranks is available on the Rewards page.
Earning Gems
Gems are earned through platform activity:
VELVET staking
Based on your veVELVET amount
Spot trading
Based on your onchain trading volume on Velvet
Perpetuals trading
Based on your perp trading volume on Velvet
Referrals
Based on the trading volume of your referrals
You can stake VELVET on the Staking tab of the Rewards page.
Gem Multipliers
Two multipliers boost your gem earning rate:
Daily Challenge — an additional multiplier for maintaining a daily streak, starting at 5% on Day 1 and growing to 150% on Day 30 and beyond
Trading Volume Rank — an additional multiplier based on your trading volume, from 5% at $1k up to 350% at $2m, plus an additional 100% for every $1m of volume after that
Cashback
Trading fee cashback is determined by two tiers, which you can manage on the Cashback tab:
Staking — from 5% at 100 veVELVET up to 50% at 1,000,000 veVELVET
Volume — calculated as 1x spot volume + 0.2x perpetuals volume, from 2.5% at $1k up to 50% at $10m
The two tiers stack, for a maximum combined cashback of 100%.
Referral Commission
In addition to referral gems, you receive 50% of the fees paid by every wallet you refer.
Founders Club NFT
Holders of the Velvet Founders Club NFT receive a 2x boost on all gem earning.
Epoch size, gem rates, multipliers, and other program parameters may be adjusted between epochs. Any changes will be announced before taking effect.
Last updated