SNS has been officially launched on December 26, 2021. For each SNS domain name registered, Linkkey contract will issue 150 additional KEY Token (ERC20 tokens), of which 50% will be allocated to the whole network users (meaning the addresses that have registered SNS domain names).
However, the 50% KEY Token is not currently allocated immediately (currently allocated at user-assigned addresses), but will need to wait until all 100 INO NFT cards have been sold before the airdrop allocation to users across the network will begin. We have previously announced to the public that we expect the airdrop (release) to begin in March 2022.
After taking suggestions from community members and core DAO members between December 2021 and February 2022, we have now clearly defined the details of the airdrop, and the airdrop start date has been set for March 15-18, 2022, and we have also fine-tuned the 50% community token distribution rule to incentivize new users to sign up.
Here are the details of our airdrop mechanism and allocation plan.
Note: The airdrop mechanism is applicable to users who have registered the domain name, the team and investor groups are not included in this scope.
In order to facilitate understanding and avoid confusion, we have divided the KEY Token (hereinafter referred to as KEY) into states, as well as the definition of related properties.
In order to ensure the controllability and asset security of the airdrop execution, the airdrop procedure is implemented by the coin withdrawal contract + listening service, and Linkkey is officially responsible for the implementation. (Currently in full testing phase 2022.3.8)
For every new domain name registered, 75 (150*50%) KEYs will be equally distributed to all users of the network.
This scheme resulted in a very small number of KEYs being allocated to new users when they registered later. In order to effectively motivate new users to register without excessively cutting the benefits of old users, we adopted the following fine-tuning scheme.
Number of KEYs allocated to newly registered users: registerAllocationAmount = 1 The number of KEYs allocated to all registered users (excluding newly registered users): allRegisterAllocationAmount = 75 - 1 = 74