> For the complete documentation index, see [llms.txt](https://docs.velvet.capital/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.velvet.capital/airdrop.md).

# 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](https://x.velvet.capital/rewards).

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### 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](https://x.velvet.capital/rewards):

#### Top Rank Allocations

<table data-search="false"><thead><tr><th>Rank</th><th>Allocation</th><th data-hidden></th></tr></thead><tbody><tr><td>Rank 1</td><td>5%</td><td></td></tr><tr><td>Rank 2</td><td>4.5%</td><td></td></tr><tr><td>Rank 3</td><td>4%</td><td></td></tr><tr><td>Rank 4</td><td>3.5%</td><td></td></tr><tr><td>Rank 5</td><td>3%</td><td></td></tr><tr><td>Rank 6</td><td>2.5%</td><td></td></tr><tr><td>Rank 7</td><td>2%</td><td></td></tr><tr><td>Rank 8</td><td>1.75%</td><td></td></tr><tr><td>Rank 9</td><td>1.5%</td><td></td></tr><tr><td>Rank 10</td><td>1.25%</td><td></td></tr></tbody></table>

#### 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.

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### Earning Gems

Gems are earned through platform activity:

| Activity           | Gems                                           |
| ------------------ | ---------------------------------------------- |
| 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](https://x.velvet.capital/rewards?tab=staking) of the Rewards page.

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### Gem Multipliers

Two multipliers boost your gem earning rate:

1. **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
2. **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](https://x.velvet.capital/rewards?tab=cashback):

1. **Staking** — from 5% at 100 veVELVET up to 50% at 1,000,000 veVELVET
2. **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%.

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### Referral Commission

In addition to referral gems, you receive **50% of the fees** paid by every wallet you refer.

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### Founders Club NFT

Holders of the **Velvet Founders Club NFT** receive a **2x boost** on all gem earning.

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Epoch size, gem rates, multipliers, and other program parameters may be adjusted between epochs. Any changes will be announced before taking effect.