Altcoins News

Shardeum announces SHM Airdrop for early contributors

Published

3 months ago

February 2, 2024

Shardeum today announces an update about its Phase 1 airdrop program. This airdrop program is specially for the early contributors/participants.

SHM is the native coin of the Shardeum network. Each SHM is divisible to 18 digits, similar to that of ETH on the Ethereum network. SHM is a utility token with various use cases, like staking, governance, reward token, gas token and transaction fee burning.

Shardeum SHM Token Allocation Breakdown

The maximum supply of SHM tokens is 508 Million and out of this 51% is reserved for rewarding Validator and Archiver nodes.

Please find the breakdown of SHM token allocation.

% of Supply	SHM Amount	Category	Notes
51%	259,080,000	Community	Rewards for Validator and Archiver nodes
18%	91,440,000	Sale	3-month cliff then 2-year daily linear vesting
15%	76,200,000	Team	3-month cliff then 2-year daily linear vesting
11%	55,880,000	Foundation	Unlocked at Token Generation Event (TGE)
5%	25,400,000	Ecosystem	Unlocked at TGE
Total	508,000,000

Source: Shardeum Blog

SHM Airdrop

Shardeum Foundation plans to execute the SHM airdrop in three phases. Here are the token allocations for all three phases.

#	Category	# of SHMs Allocated
1	Phase 1: Early Contributors	3,661,600
2	Phase 2: Incentivized Testnet	3,296,500
3	Phase 3: Mainnet Campaign	18,441,900
	Total	25,400,000

A total of 35,281 (or) 42,281 wallets are eligible for phase 1 airdrop. Off-chain Contributors, On-chain Contributors, Developers and Node Validators are the category of eligible contributors.

#	Category	# of Eligible contributors	Total SHM Allocated	Min & Max SHM allocation
1	Off-chain Contributors	2,200	336,500	Min – 50 Max – 10,000
2	On-chain Contributors	26,000	1,569,000	Min – 50 Max – 10,000
3	Developers	85	256,100	Min – 100 Max – 10,000
4	Node Validators	7000 (or) 14,000	1,500,000	Min – 100/200 Max – 10,000
	Total	35,281 (or) 42,281	3,661,600

You can also refer to the official airdrop announcement page for more details.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.