Cryptocurrency News

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.

% 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.

Share
Published by

Recent Posts

Tomarket App – A Guide to $TOMATO Airdrop, Farming and Web 3.0 Drop Event

Tomarket, Telegram's mini-app hits 20+ million all-time users and 8.8+ million daily active users. Tomarket…

2 months ago

Binance Lists Decentralized and Open L1 Blockchain Toncoin (TON) on its Platform

Cryptocurrency exchange Binance, today announces the listing of Toncoin on its platform. Toncoin is a…

3 months ago

iGaming Platform BC.GAME Signs $40 Million Deal to Become Principal Partner of Leicester City

The iGaming platform BC.GAME has signed a landmark $40 million deal to become the "Official…

4 months ago

Coinbase faces new lawsuit that claims SOL, MATIC, NEAR, MANA, ALGO, UNI, XTZ and XLM are securities

Coinbase crypto exchange and its CEO, Brian Armstrong, faces a new lawsuit that claims Solana,…

6 months ago

Service Beyond Gaming: The Support Experience at HugeWin

In the world of online gambling, the quality of customer service can make or break…

7 months ago

Bitcoin (BTC) Cycle: Aiming for $155,000 Peak by August 2025

Since its launch in 2009 Bitcoin has experienced several cycles characterized by bull and bear…

7 months ago

This website uses cookies.