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Cryptocurrency News Articles

Over Protocol Announces Airdrop Program Structure and Distribution

Oct 31, 2024 at 11:39 pm

Over Protocol has announced the full details of its airdrop allocation through which the platform will reward those who participated in the Over Community

Over Protocol Announces Airdrop Program Structure and Distribution

Web3 infrastructure provider Over Protocol has unveiled the details of its airdrop allocation, revealing the distribution of 54 million OVER tokens (5.45% of the total supply) to participants in the Over Community Access Program (OCAP). This airdrop forms part of the 15% OCAP allocation, with the remaining tokens set to support marketing, liquidity, grants, and ecosystem growth initiatives.

Three key metrics — honesty, diligence, and performance scores — will determine the number of tokens each participant receives. Notably, a two-step Sybil detection process was employed to ensure fairness and eliminate bot accounts, with genuine contributors who failed the initial detection given a second chance to claim via Google Forms.

Token amounts were then assigned based on OverWallet missions and testnet engagement. The distribution is slated to commence following the launch of the OverProtocol mainnet, which is expected between late this year and early next year.

To ensure that only genuine contributors receive tokens, specific criteria have been established by Over Protocol. A “Sybil detection” system is being used to prevent bots and multiple accounts from claiming tokens unfairly. Here's a further breakdown of the airdrop allocation:

- Active participants for over 180 days: 2X tokens

- Participants who completed OverWallet missions: 2X tokens

- Participants who engaged with the testnet: 3X tokens

- Participants who completed all tasks and performed exceptionally well: 5X tokens

Eligible participants can review their allocations in the OverFlex app by updating OverWallet, entering their registered email, and following the confirmation instructions. All distribution will be available upon mainnet launch.

Over Protocol also cautions users to be wary of phishing attempts, emphasizing that official airdrop claims will not be sent via email or social media.

News source:coinchapter.com

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Other articles published on Nov 06, 2024