Place/Date: Seoul, South Korea - May 18th, 2021 at 4:00 pm UTC · 3 min read
Contact: Carl Carcia, COO, Source: QiSwap
QiSwap, the leading decentralized exchange (DEX) that utilizes automated market making algorithms, is preparing to launch the second airdrop of its native token. All of the QI tokens will be distributed directly to the community members and other stakeholders that contribute to the QiSwap network.
Since we want to incentivize organic growth of the ecosystem by conducting the fairest possible distribution, we advise the community to keep their Qi tokens in the official QiSwap web wallet, or the Qtum QT Core official wallet.
The QiSwap team is working to get the QiSwap airdrop supported by a number of exchanges. But if your Qi tokens are held on an exchange that has not yet confirmed its support for this airdrop, you should withdraw them to the QiSwap web wallet or the Qtum QT Core with QRC20 support.
The Qi airdrop will go to all token holders at a 1:1 ratio, meaning that for every 1 Qi you possess you will receive an equal amount of Qi token.
All users who wish to participate in the airdrop will need to hold their Qi tokens during the snapshot time in a QRC-20 wallet or in an exchange supporting the event. The snapshot will be taken on around May 30, 12 am KST at Qtum block height #924,270.
Exact time will be announced through our social channels, and it is the Qtum block height that matters. You can watch the progress on the block explorer while the airdrop is deploying.
Remember, if you don’t control the private keys to your Qtum wallet, you mayn’t receive your airdrop tokens.
The airdrop distribution will revolve around a wallet snapshot taking place on the aforementioned calendar dates, determining the amount of tokens every user will receive. However, please note that it may take a few hours as the airdrop script takes a while to execute.
Note: since there will be a small gas fee involved in the contract call when claiming Qi, make sure to have Qtum in the wallet to pay for the gas. The gas fees shouldn’t be more than a couple of pennies and we recommend sending 0.1 Qtum for gas, then send your Qi tokens.
Liquidity providers also qualify for the airdrop to directly benefit from platform adoption and growth. This token release will establish an innovative new way for those who fund the Qtum/Qi “Qtum Beets” Nitro Pool.
Specifically, they will be eligible to share in the staked rewards that are created from the 1 million Qtum allocated to the QiSwap team for 1 year. This is partly to show appreciation for their hard work and also to ensure the growth and sustainability of the QiSwap ecosystem in a win-win kind of fashion.
Using QI, token holders will be able to vote and contribute to platform governance, a vital aspect of maintaining a decentralized application. The native token of the DEX will have large portions of its total supply distributed through multiple airdrops taking place in order to get QI into the hands of platform users.
Qiswap is a fully decentralized protocol that automatically provides liquidity for QTUM based on automated market-making (AMM) algorithms. QiSwap is a transparent, censorship-resistant financial infrastructure for QTUM. It is essentially a set of smart contracts that exist as automated market makers in the crypto economy. These contracts are based on Uniswap.