AIrdrop Agent

Ithaca Protocol

Options · Arbitrum

A non-custodial options DEX now offering up to 70% APY through staking

Participation

Open now

Token

Live · $ITHACA

Potential
Total funding

$3M

Major VCs
WintermuteCumberland
Last verified

2026-08-08

Potential is AirdropAgent's editorial assessment and does not confirm an official distribution.

Tasks

Participation programme live
  1. Acquire $ITHACA tokens on an exchange or DEX (they must be in vested/unlocked status).
  2. Connect your wallet to the staking interface described on the official docs site.
  3. Choose a lock period of 6, 9, or 12 months and stake.
  4. Engaging with the protocol during the lock period helps meet the reward activation threshold (10-30%).
  5. Claim rewards once the lock period ends.
Check the official site

Funding & investors

Round
—
Lead
Cumberland / Wintermute
Investors
Cumberland · Wintermute

Overview

Ithaca Protocol is a non-custodial, composable options trading protocol on Arbitrum. Its $ITHACA token has already launched, backed by a roughly $2.8M raise led by Cumberland and Wintermute Ventures. Its standing $ITHACA staking program currently offers 40-70% APY depending on the lock period chosen.

Analysis

  • Cumberland and Wintermute Ventures, both well-known market makers, led a roughly $2.8M raise, which speaks to investor quality.
  • $ITHACA is listed on CoinGecko with a market cap of about $263,814, but the price has dropped 74.2% over the past 30 days.
  • The only confirmed live program right now is $ITHACA staking, offering 40%/56%/70% displayed APY for 6/9/12-month locks respectively.
  • Season One (a points-based airdrop) already opened claims on December 19, 2024, so it is a finished past campaign.
  • Season Two exists only as a title on official docs with no details, and Season Three has no official confirmation at all.
  • DefiLlama-tracked TVL is only about $13,500, suggesting limited real usage of the protocol.
  • Staking only applies to vested and unlocked $ITHACA and requires long lockups, which is a liquidity risk worth noting.

Token & distribution status

Token
Live
Ticker
$ITHACA
TGE
Not announced
Allocation
Published

Allocation

  • Season One (through claims opening Dec 19, 2024): Points were earned via trading, orders, social connections, referrals, and badge activities, distributing up to 2% of total supply as $ITHACA. Claiming engagement points required reaching 5,000 trading points.
  • Staking program launch (announced Feb 12, 2025): A standing program with 6/9/12-month locks, reward multipliers of 20%/42%/70%, and displayed APY of 40%/56%/70%.
  • Ithaca Bonds (announced May 6 and 8, 2025): Bond sales via ApeBond offering discounted $ITHACA.
  • Season Two: Exists only as a page title on official docs; content, timing, and distribution are undisclosed.
  • Season Three: No mention found on the official site, docs, or X; its existence is unconfirmed.
  • Exact distributed totals, snapshot dates, and claim deadlines have not been officially disclosed.

Tokenomics

  • Total supply, allocation breakdown, and unlock schedule are not officially disclosed.
  • Official docs state that the Season One airdrop distributed up to 2% of total supply via a points system.
  • Current market cap is about $263,814 and FDV about $356,048 (CoinGecko).
  • The token's main utility so far is staking; the official roadmap also mentions a future governance token.

AirdropAgent view

This is our analysis of public information, not an official programme rule.

  • Staking is currently the only genuinely active program, so the practical first step is preparing vested/unlocked $ITHACA and staking it.
  • The 12-month lock offers the highest displayed APY (70%) but ties up funds longest; a shorter 6-month lock is a way to test the mechanics first.
  • Ithaca Bonds and Odyssey of Fate have official X announcements but no clear end dates, so check current availability directly on ApeBond or the Telegram bot before joining.

Security & risks

Key risks

  • $ITHACA has fallen 74.2% over the past 30 days, indicating extreme volatility.
  • Staking only accepts vested/unlocked tokens and locks funds for 6-12 months with no confirmed early exit.
  • Part of the reward requires meeting an activation threshold via protocol usage, so staking alone may not yield the full advertised rate.
  • DefiLlama-tracked TVL is only about $13,500, suggesting limited real protocol usage.
  • Season Two and Season Three details remain undisclosed, so future points programs and their terms are unclear.
  • No audit information from any named firm could be confirmed.

Recent moves on X

Only posts about joining or distribution, shown as posted. Click through for the original.

What's next

The official site lists a future governance token and a liquidity incentive structure (Ithaca 1.1) as upcoming plans, but no specific timing has been disclosed.

Visit the official site

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