By
Godfrey Benjamin
April 18th, 2024
Dot and Kusama token holders who qualify for the token claim should be on the lookout for the fourth Dotsama token claim, which will be the last.
Subsocial Network has announced the successful completion of the 3rd Dotsama token claim, where 2,500 different accounts claimed another 250,000 SUB tokens. So far, 750,000 SUB tokens have been claimed, with the goal being to distribute 1,000,000 SUB tokens (1% of the total supply) within four rounds.
The 3rd Dotsama token claim experienced overwhelming participation; about 10,000 accounts simultaneously visited the Subsocial web DApp, which saw the event finish in five minutes.
The eligibility for participation in this token claim round was similar to the previous rounds. Subsocial had taken two snapshots of Dot and Kusama wallets back on April 15th and May 21st. Accounts that held 1 Dot or 0.1 Kusama during both snapshots qualified to participate in the 3rd Dotsama claim.
Other eligible participants included accounts that participated in the winning Kusama crowdloans (Karura, Moonbeam, Khala, Shiden, Bifrost, KILT, Basilisk, and Calamar) before September 24th.
Each account that claimed the tokens (first-come-first-serve basis) was allocated 100 SUB tokens. Out of these, 90 SUB tokens will be vested for over 3-6 months, while the remaining 10 SUB tokens could be claimed instantly.
Building the Polkadot and Kusama Community
Subsocial’s Dotsama token claim initiative was launched to reward early adopters of the substrate network, the modular blockchain framework that hosts Subsocial. Dot and Kusama token holders have been the primary beneficiaries of the 750,000 distributed SUB tokens.
These native tokens will be a fundamental pillar in the Subsocial open platform, where innovators can launch decentralized social networks and marketplaces. SUB tokens will be used to support in-built monetization options, allowing network users to deploy their own chains or tip their favourite contributors.
With media censorship becoming an issue of contention, Subsocial’s mission is to build an ecosystem where users have the autonomy of control. Essentially, users will be able to deploy censorship-resistant social networks that are governed by a Decentralized Autonomous Organization (DAO) instead of third parties, as is the case with today’s social media platforms.
That said, Dot and Kusama token holders who qualify for the token claim should be on the lookout for the fourth Dotsama token claim, which will be the last. Also, Subsocial’s testnet is currently live, and interested prospects can leverage it to experiment as the community awaits the mainnet release.