ALX Snipers
Last updated
Last updated
When bondholders or liquid stakers accrue ETHx rewards, they can realize those gains with an additional 25% distributed on top of the claimed rewards. This extra 25% is allocated to the ALX Buyback & Burn. However, ETH bondholders cannot self-claim their ETHx rewards until their bond matures, making the sniping mechanism crucial.
Snipers have the unique ability to claim pending ETHx rewards owed to other bondholders or liquid stakers. Although the original bondholder or liquid staker incurs the additional 25% distribution, they benefit from a gas-free rewards claiming process. This means that the bondholder or liquid staker receives 100% of their owed rewards, the same amount as if they had claimed manually but without incurring any gas costs.
Meanwhile, the sniper earns ETHx rewards from the additional distribution for providing the service of claiming rewards on the user's behalf. This advantage enables ALX bondholders to accrue ETHx rewards and reach their ETHx maximum payout more quickly. Active participation is encouraged, reducing the accumulation of unclaimed rewards and creating a win-win situation for all participants in the protocol.
When an ALX bondholder snipes your rewards, an additional 25% on top of the sniped rewards will be distributed by the protocol as follows:
20% of the claim distribution is sent to the ALX bondholder (sniper) as a reward for their action.
5% of the claim distribution is allocated to the ALX Buyback & Burn.
