Shardeum announces SHM Airdrop for early contributors
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.
Shardeum Foundation plans to execute the SHM airdrop in three phases. Here are the token allocations for all three phases.
#
Category
# of SHMs Allocated
1
Phase 1: Early Contributors
3,661,600
2
Phase 2: Incentivized Testnet
3,296,500
3
Phase 3: Mainnet Campaign
18,441,900
Total
25,400,000
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 contributors
Total SHM Allocated
Min & Max SHM allocation
1
Off-chain Contributors
2,200
336,500
Min – 50 Max – 10,000
2
On-chain Contributors
26,000
1,569,000
Min – 50 Max – 10,000
3
Developers
85
256,100
Min – 100 Max – 10,000
4
Node Validators
7000 (or) 14,000
1,500,000
Min – 100/200 Max – 10,000
Total
35,281 (or) 42,281
3,661,600
You can also refer to the official airdrop announcement page for more details.