TON Foundation Unveils Massive Airdrop: Details

by

As a seasoned observer of the cryptocurrency scene, I find the recent development surrounding the TON Foundation’s $600K airdrop for active NFT traders and holders to be an intriguing turn of events. This bold move by the crypto firm signifies a significant milestone in the crypto community, especially as it comes amidst the ongoing sluggish performance of the NFT realm.

In an exciting development for the cryptocurrency world, the TON Foundation has distributed $600,000 worth of tokens through an airdrop to active traders and holders on platforms like Getgems, xRare, and Ton NFT Diamonds. This significant move by the foundation represents a substantial step forward in the crypto community during its cryptographic journey, as detailed in a recent post on X.

Here’s an in-depth report on the airdrop’s eligibility criteria, snapshot, and key details.

TON’s Airdrop For NFT Traders: What’s in Bag?

According to a recent announcement by the cryptocurrency company regarding X, the cut-off point for the 105,600 TON airdrop was on April 23 at 8:00 AM Central European Summer Time (CEST). It is worth mentioning that individuals who actively traded Non-Fungible Tokens (NFTs) on the specified marketplaces between April 11, starting from 2 PM CEST, and April 23, up until 8 AM CEST, were eligible for this distribution. However, those who owned NFT collections without wallet addresses or held Sybil wallets did not receive the airdrop. Additionally, all NFT collections listed on these marketplaces were included in the whitelist for the event.

I’ve observed an interesting decision made by the TON Foundation regarding airdrop rewards. Instead of implementing a point system based on various on-chain metrics for users, they have chosen a different approach. For instance, if a user trades between 2 and 4 NFT collections, they will receive a certain allotment of points. The more NFT collections a user trades, the more points they accumulate, reflecting a directly proportional relationship between the points earned and the rewards to be received.

Simultaneously, points were awarded based on various factors including the quantity of NFT transactions executed and the individual’s NFT trading volume. The more points amassed during the airdrop event, the greater the entitlement to receive TON, the native token of the Ton blockchain, as rewards.

I’ve observed that users with a points range of 2-5 will be eligible for a reward of 40 TON. Following a similar pattern, the greater the number of points a user holds, the more rewards they will accumulate. In an attempt to invigorate the NFT market, which has recently shown lackluster performance, this initiative garnered considerable interest among crypto enthusiasts.

During the exciting airdrop occurrence, the native token for the Ton blockchain experienced trading in the negative.

TON Price Slips

At present, the price of TON‘s token has decreased by 8.81% over the last 24 hours and is now being traded at $5.22. The significant decrease in the token’s value can mainly be attributed to the overall cryptocurrency market slump today. However, this drop contrasts with the progress made in the previously mentioned development.

The TON Foundation is making significant strides, as evidenced by their recent introduction of Memelandia to encourage institutions towards meme coins. This innovative move is adding excitement to the cryptocurrency community, potentially leading to further progress in their cryptographic undertaking.

Read More

2024-04-25 16:42