In the spirit of collaboration with Curve Finance and to allow Curve DAO members to receive a portion of trade fees generated by Ellipsis, EPS is distributed to veCRV holders through a series of airdrops.
25% of the EPS total supply has been allocated for airdrop. Each week a snapshot of current veCRV balances is taken and used to generate a merkle root for distribution. There are to be 52 airdrops in total.
The first distribution was retroactive, based on veCRV balances at block 12059299. Future distributions will be calculated based on veCRV balances on the first block mined at the start of the new epoch week (Thursday 00:00 UTC).
Each airdrop snapshot is generated independently by the Ellipsis and Curve teams. The proof is submitted on-chain by Ellipsis, verified and approved by Curve. New airdrops should be available for claim within 24 hours after the snapshot is taken, however the verification process and coordination required between teams means we cannot guarantee an exact moment that they will be live.
More detailed technical information is available on Github.