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Shardeum announces SHM Airdrop for early contributors

Published

11 months ago

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Shardeum SHM Airdrop

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 SupplySHM AmountCategoryNotes
51%259,080,000CommunityRewards for Validator and Archiver nodes
18%91,440,000Sale3-month cliff then 2-year daily linear vesting
15%76,200,000Team3-month cliff then 2-year daily linear vesting
11%55,880,000FoundationUnlocked at Token Generation Event (TGE) 
5%25,400,000EcosystemUnlocked at TGE
Total508,000,000
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
1Phase 1: Early Contributors3,661,600
2Phase 2: Incentivized Testnet3,296,500
3Phase 3: Mainnet Campaign18,441,900
Total25,400,000

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 contributorsTotal SHM AllocatedMin & Max SHM allocation
1Off-chain Contributors2,200336,500Min – 50
Max – 10,000
2On-chain Contributors26,0001,569,000Min – 50
Max – 10,000
3Developers85256,100Min – 100
Max – 10,000
4Node Validators7000 (or) 14,0001,500,000Min – 100/200
Max – 10,000
Total35,281 (or) 42,2813,661,600

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.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.