Exponent airdrop step by step tutorial

Exponent is a yield exchange on Solana where people trade, lock in or hedge the interest rates earned by onchain assets. Its own homepage calls it Solana's premier yield exchange, used to generate predictable returns and manage yield risk across onchain portfolios, and its docs say you can use it or build on it.

Instead of accepting whatever variable rate an asset pays, a user can swap into a fixed rate for a set duration, or take a view on where rates will go. Liquidity providers can also supply interest rate markets to earn non-directional returns.

Version 2 widened the product beyond rate swaps. The launch post lists a fully onchain order book for rates, a concentrated liquidity market for rates called the Rate CLMM, Strategy Vaults run by professional curators, and risk-tranching swaps that aim to protect principal. Existing users did not have to migrate their positions from the earlier version.

Exponent v2 is built on Exponent Core, an open-source yield-stripping system on Solana. Stripping splits a yield-bearing asset into its principal and its future yield, so a holder can buy a fixed-rate position, trade the yield side, or hedge. The order book quotes prices as implied rates, so a trader sets the exact rate at which a swap opens or closes. The Rate CLMM lets liquidity providers place capital in chosen rate ranges. Strategy Vaults take deposits and run managed strategies, so the depositor does not handle PT and YT positions or their maturities.

The launch campaign worked through those products. The launch post says over $200K in rewards were allocated to participants during the 30 days after launch, aimed at the flagship markets, Rate Limit Orders, the rCLMM and vaults such as OnRe Growth and Solstice Fixed Yield Looping. The app's Rewards Hub listed the live opportunities.

The launch post does not say whether the rewards were paid in a token, points or something else, and it describes no claim process or snapshot.