$RUST Token Explained — pt.3 Airdrops

$RUST Token Explained — pt.3 Airdrops

With the community at the centre of the $RUST token economy, one of the key aspects of the distribution are the NFT holder airdrops. 17% of the total supply is dedicated to these rewards that will be released over an 20 month period, starting with the first airdrop around the time of the official token launch on ShimmerSea DEX.

Launch drop

The launch drop will occur through two phases including a special OG drop for those OG NFT holders that participated in the $RUST farming event last year and an NFT holder wide airdrop with each NFT receiving a portion of the distribution.

The OG airdrop will distribute the amount of $RUST linked to each NFT that farmed in the Discord farming event last year. This will be a one off drop and will be sent to the wallet address that currently holds those individual NFTs.

The NFT wide launch drop will occur through a smart contract distribution to NFT holders after a snapshot of holders has been taken Friday 17th November at 2000 CET. Every NFT in circulation will receive an equal distribution of the token, with OG NFT holders receiving a 2x drop.

Due to NFTs still being minted we are unable to determine a specific airdrop figure until after the snapshot has been taken. The OG airdrop will total approx. 4.6 Mil $RUST and the NFT wide airdrop will total approx. 15.4 Mil $RUST. With the total distribution of the airdrop being 1% of the total $RUST supply, or 20,000,000 $RUST tokens.

Before the launch of the token on ShimmerSea and after the snapshot the airdrop distribution will be fixed in a Smart Contract that will execute the airdrop to all NFT holders after the fair launch when the token goes live on ShimmerSea DEX.

Future drops

Following the initial launch there will be a 3 month cooldown period that will give the token time to stabilise. Staking, farming, and other defi features will be implemented in this time to bring further value to the token and economy.

After this lock-up the remaining supply of airdrop tokens will be split over 18 monthly airdrops. With the first to occur in February 2024. These will be carried out in the same way as the initial airdrop, through a snapshot taken on the last day of the month, followed by a distribution to all NFT holders via smart contract, with OG NFTs receiving 2x drop.

Distribution

The total direct airdrop distribution to NFT holders will be 17% of the total supply of $RUST token, or 340,000,000 $RUST, distributed over a total of 19 drops and the course of 20 months.

NFT holders do not need to do anything other than hold their RRCC NFTs in their wallet. NFTs held on exchanges, marketplaces, or other dApps will not be included in any airdrop snapshot. Be sure to transfer any listed NFTs back to your wallet prior to any snapshot being taken.

The vesting and community distribution of $RUST token allows the community to take full control and gain full ownership of the token. NFT holders and $RUST token holders will be the largest group of owners of the $RUST token within the economy and will also reap the greatest benefits and rewards over time.

Get real time updates directly on you device, subscribe now.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

×
Ava
IOTA AI
GM! :-) Do you have any questions about IOTA?
 
AI-generated responses may be inaccurate. Not financial advice.