rewrite this title MANTRA Opens Eligibility Checker And Unveils Mainnet Gendrop Allocations

by
Alisa Davidson

Published: November 08, 2024 at 10:18 am Updated: November 08, 2024 at 10:22 am

by Ana

Edited and fact-checked:
November 08, 2024 at 10:18 am

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Layer 1 blockchain project focused on tokenizing real-world assets (RWAs), MANTRA announced the launch of its OM airdrop checker and revealed the details of its GenDrop airdrop, with rewards allocated to 350,000 eligible users.

A total of 50 million OM tokens have been set aside for this GenDrop event, with the following distribution: 60% allocated to KARMA pre-mainnet quest participants, 12% to Galxe Season 1 participant, 8% to ATOM stakers on the MANTRA node, 4% to Bad Kids non-fungible token (NFT) holders, 4% to Celestine Sloths NFT holders, 3.5% to Pudgy Penguin NFT holders, 3.5% to Testnet Validators, 2.5% to Mad Scientist NFT holders, 1% to Galxe Season 2 participants, 1% to MANTRA NFT holders, and 0.5% to Bit Kids NFT holders.

Out of over 615,000 participants, the top 124,760 addresses were eligible for the KARMA Pre-Mainnet Quests campaign. To ensure a fairer distribution, MANTRA implemented a Kurtotic Adjustment instead of a linear distribution for addresses that accumulated more KARMA than expected, thus avoiding a highly concentrated distribution.

Furthermore, participants who delegated ATOM to the MANTRA validator between the announcement of the promotion on May 2nd and the mainnet announcement on October 23rd are eligible for GenDrop rewards. Additionally, the ATOM earned from MANTRA’s commissions will be used to create an ATOM/USDC liquidity pool on MANTRA Swap.

Additionally, MANTRA has allocated 6,000,000 OM tokens to 125,725 Galxe Season 1 participants, with distribution based on the number of points earned—those with more points will receive larger rewards.

MANTRA Sets Fixed OM Rewards For NFT Holders And Variable Token Rewards For Testnet Validators

NFT holders will receive a fixed amount of OM tokens per NFT owned. Meanwhile, varying token amounts are reserved for Testnet validators based on their participation. Validators who simply participated will receive 8,888 OM tokens, those who also engaged in governance will receive 10,000 OM tokens, and those who contributed to outreach and infrastructure efforts will receive 22,655 OM tokens.

Lastly, MANTRA has reduced the vesting cliff to one month, followed by 11 months of linear vesting for token distribution.

MANTRA is a Layer 1 blockchain specifically designed for the tokenization of RWAs, ensuring it meets relevant regulatory standards. As a permissionless network, MANTRA offers developers and institutions the opportunity to engage in the growing RWA tokenization sector by providing advanced technology modules, compliance features, and cross-chain interoperability.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles