UPDATED (MAY 8 12:00:00 AM UTC)
The LDX snapshot has been taken as MAY 8 12:00:00 AM UTC.
Purchasing LYRA from May 8 12:00 AM UTC onwards will not confer any additional LDX.
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Blocknumbers for the LDX snapshot were as follows:

The LDX Farming Program runs from April 19 at 10 AM UTC to May 8 at 00:00 UTC.

LYRA holders who stake and lock LYRA before the snapshot on May 8 will earn Holder Points. Holders earn 1 Holder Point per staked and locked LYRA per hour. The number of Holder Points earned during the program contribute to the size of your LDX airdrop in Q3. It is important to note that Holder Points cannot be earned by staking and locking LYRA after the snapshot is taken on May 8.

LDX farming is an additional incentive for staking and locking LYRA. All LYRA holders will be converted 1:1 to LDX, with the same total supply, regardless of whether they stake and lock their LYRA. Learn more about the LYRA to LDX migration.

This article will explain how to farm LDX by staking and locking LYRA.

There are three ways to stake and lock LYRA to earn Holder Points:

The LYRA DAO is governed by stkLYRA holders. By holding stkLYRA on the Ethereum, Optimism, or Arbitrum network, you are automatically eligible for Holder Points, meaning no further action is required. You can manage your stkLYRA at gov.lyra.finance. You will start earning Holder Points as soon as the program starts on April 19 at 10:00 AM UTC.

Note that if you hold LYRA and wish to participate in the program, it is recommended that you stake your tokens via the newly deployed 'sink' contracts. This is a cheaper option and is available on the Ethereum, Optimism, and Arbitrum networks. For more details, see the paragraph below.

LYRA holders can stake their LYRA via cheaper 'Sink' contracts on the Ethereum, Optimism, and Arbitrum networks. These new sink contracts require less gas, making the staking process cheaper. Once you have staked and locked your LYRA, you will start earning Holder Points immediately. You can stake LYRA at lyra.finance/airdrop.

LYRA trading rewards earned over the last 3 months will be distributed after April 24. Instead of claiming these pending LYRA rewards, traders can ‘commit’ to stake and lock them before or after April 24 to earn Holder Points. It is important to note that this action is irreversible and will also stake and lock all future trading rewards earned between April 24 and May 8.

During the program, the following actions by LYRA holders will result in the loss of all Holder Points accumulated: