TON Foundation Unveils Massive Airdrop: Details

Technology

TON Foundation Unveils Massive Airdrop: Details – Crypto News

Published

1 year ago

April 25, 2024

Dripp

In what comes as an attention-grabbing chronicle witnessed within the cryptocurrency landscape, the TON Foundation recently facilitated $600K worth of airdrop for active NFT traders and holders, marking a significant stride within the crypto community with its cryptographic journey. According to a recent post shared by the TON Foundation on X, the crypto firm unveiled a 105,600 TON airdrop for active traders on Getgems, xRare, and Ton NFT Diamonds, NFT marketplaces.

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?

Per the crypto firm’s post on X, the snapshot for the 105,600 TON airdrop was taken on April 23 at 8:00 AM CEST. Notably, active traders on the abovementioned NFT marketplaces between April 11 (2 PM CEST) to April 23 (8 AM CEST) were made eligible for the airdrop. However, NFT collection owners, non-wallet addresses, and Sybil wallet addresses were not facilitated with the airdrop. Besides, all NFT collections on the above marketplaces were whitelisted for the event.

Intriguingly, the TON Foundation ruled out a point system for facilitating airdrop rewards, all dependable on various on-chain metrics for users. Notably, if the number of NFT collections traded is between 2-4, the user is allotted 1 point. Similarly, as the number of collections traded increases, the points increase in hand, underscoring a directly proportional relation between points collected and rewards.

Meanwhile, points were also allotted based on the number of NFT deals performed, NFT trading volume per user, and many other aspects. By accumulating these points, airdrop participants would be eligible to claim rewards in the form of TON, Ton blockchain’s native token.

Notably, users with points between 2-5 will be offered a reward of 40 TON, whereas similar to the points system, the higher points a user has, the more rewards are acquired. This chronicle, coming as an effort to jack up the NFT realm amidst its ongoing sluggish performance, promptly amassed significant attention among crypto market participants.

Meanwhile, amid the remarkable airdrop event, the native token of the Ton blockchain traded in the red.

Also Read: Worldcoin Seeks OpenAI Partnership Amid Regulatory Probe

TON Price Slips

As of writing, the TON token’s price slipped 8.81% in the past 24 hours and is currently trading at $5.22. The remarkable dip in the token primarily aligns with the broader crypto industry’s downtrend today, whereas it contrasts the stride marked with the above-mentioned development.

It’s worth noting that the TON Foundation is making remarkable advancements as it recently launched Memelandia to drive institutions into meme coins, further revolutionizing its cryptographic venture and fueling optimism among crypto market participants.

Also Read: XRP To Hit $1.4 In July: Analyst Predicts Despite Crypto Market Dip