TL:DR There will be 5 Airdrops of 800 million tokens each. Each airdrop represents ~2.2% of the current circulating supply. In the final airdrop, an additional 800 million tokens shall be distributed only to those who maintain or exceed their balance of RPM at the time of the first snapshot.
Why you should really care — The entire bonus airdrop of 800 million tokens will be awarded only to those that qualify. The final airdrop has been designed to truly reward the RPM token holders that are interested in the long-term health of the RepMe Network.
As covered in our most recent update, the success of the RepMe Network is in many ways dependent on the broad and equitable distribution of the RPM token. Simply stated, the more users we have staking the token, the more secure, decentralized and ultimately fair the network becomes. After much internal discussion and consultation with trusted and experienced advisors in the space, the team decided that a series of regularly scheduled airdrops to token holders was the best way to achieve this aim.
While our primary motivation is the integrity of the RepMe Network, these airdrops also serve to strengthen the project by:
- Rewarding our earliest community members and supporters
- Incentivizing holding of the RPM token
- Reducing exchange volatility
The security of the network alone makes these airdrops important, but when coupled with their downstream benefits, this initiative becomes imperative.
Airdrop Schedule
Over the next 3 months, we will be conducting 5 ERC-20 token balance snapshots and 5 subsequent airdrops to RPM token holders, starting with the first airdrop on November 5th at 12:00 p.m. UTC.
There will be a full snapshot/airdrop cycle before the next airdrop, allowing your balances and airdropped tokens to compound should you choose to participate.
Below you will find the complete airdrop schedule:
- November 5th at 12:00 p.m. UTC
- November 19th at 12:00 p.m. UTC
- December 3rd at 12:00 p.m. UTC
- December 17th at 12:00 p.m. UTC
- January 7th at 12:00 p.m. UTC ( Bonus Airdrop — See Details Below)
Airdrop Percentage & Allocation
The Nitty-Gritty
The first four airdrop cycles will behave exactly the same and will offer holders a percentage commensurate with their current token balance. The 5th airdrop will behave a little differently, the details of which are highlighted below.
We shall issue a total of 4.8 billion tokens or 13.25% of the current circulating supply across 5 airdrops.
Airdrops 1-4: 800 million tokens per airdrop.
Airdrop 5: 1.6 billion tokens, with a contingency explained below.
Going forward, the numbers shall be rounded slightly for simplicity. The variance will be inconsequential.
Over the next three months, airdrops 1–4 will offer current holders an additional~2.2% of their total holdings, while the 5th Airdrop shall distribute an additional ~4.4% to qualifying accounts, at a minimum. Any holder that participates in all five airdrops shall receive a minimum 11% bonus with the highest bonus being unknown.
For example: An RPM community member holds 100mm tokens in their ERC-20 compliant wallet. She can expect to receive ~2.2 million coins per airdrop 1–4 and a minimum~4.4 million on the 5th airdrop, should they qualify.
5th Bonus Airdrop & “Anti-Dump” Mechanism
A wildly fluctuating token price makes predictive models about securing a POS network more difficult. To combat potential volatility, we have designed the following mechanism by which the 5th airdrop will operate:
- 5th Airdrop - in order to receive the bonus RPM tokens, your balance must be greater than or equal to your account balance at the time of the 1st airdrop’s snapshot.
This mechanism introduces the following considerations:
- Since it is unlikely that all RPM holders will qualify for the bonus(as a result of not holding their original balance), those that do will likely receive a larger percentage than the 4.4% minimum.
- If you do not qualify for the bonus, but hold RPM tokens during the time of the 5th snapshot, you will receive the standard 2.2% airdrop.
- In order to be eligible for the bonus, you must use the same wallet address for the 1st and 5th airdrop so the balances can be compared.
It should be noted that these airdrop percentages were not chosen arbitrarily and represent what we believe to be the sweet spot between a wide distribution (without weighting it too far in any one direction) and rewarding our early community. With the bonus mechanism in place, we hope to see these airdrops create appropriate incentives for our community while at the same time planning for the security of the RepMe Network.
Should there be questions and areas of concerns that may have not been addressed here, feel free to reach out to any of the admins in our Telegram.
Again, we thank you for your support of the RepMe Network and for being amongst the earliest members of our growing community. We are incredibly grateful to have you here.
Important Note:
Your RPM tokens MUST be in an ERC-20 compliant cryptocurrency wallet such as MEW, MyCrypto, Ledger, etc. Exchanges will NOT be supporting the airdrop and it is the sole responsibility of the token holder to make sure any tokens they would like credited toward the airdrop are in a wallet in which they control the private keys. Again, tokens left on an exchange will not be counted toward the airdrop.
