$ORAIX Fairdrop Announcement #1: Snapshot for $ORAI Delegators

OraiDEX is coming with meta-staking and its governance token — ORAIX. There is a fairdrop of ORAIX to ORAI, ATOM, OSMO, LUNA, JUNO, AIRI, and KWT holders. We would like to introduce the first snapshot of fairdrop for ORAI delegators right after the Oraichain Mainnet 2.0 launch.

To inaugurate the upcoming launch of OraiDEX and its own ORAIX token, Oraichain introduces the ORAIX Fairdrop Program for ORAI, ATOM, OSMO, LUNA, JUNO, AIRI, and KWT holders. This $ORAIX Fairdrop Announcement #1 informs us concisely about the requirements for $ORAI community to get whitelisted and our approach to fairdrop distribution.

Entrance requirements for other token holders and other official details/figures will be announced in the near future.

First snapshot for ORAI Delegators on Mainnet

The fairdrop is designated to incentivize ORAI delegators who are and will continue securing Oraichain Mainnet 2.0 by delegating Native ORAI to validators. To be specific, $ORAI tokens meeting both of the two conditions below are eligible to get whitelisted & calculated for the fairdrop (at the snapshot moment):

  • Being Native ORAI on the Oraichain Mainnet (not CEXs or DEXes);
  • Being delegated to at least one validator.

Snapshot date: Mar 25, 2022 (at any time)

Note that investors who are currently having ERC-20 ORAI (Ethereum network) or BEP-20 ORAI (Binance Smart Chain network) can convert your tokens to Native ORAI by using KuCoin and start delegating before the snapshot day or as soon as possible to not miss the snapshot.

ORAIX Fairdrop Distribution

We will capture and create whitelisted wallets which are eligible for claiming ORAIX later. The ORAIX amount each wallet can claim depends on the following criteria, but are not limited to:

  1. Total allocation for ORAI holders (up to 1.5% of ORAIX total supply for all ORAI snapshots)
  2. The ratio between your wallet balance and the total delegated ORAI at the time of snapshot.
  3. Max cap each wallet
  4. Wallet’s history activities
  5. Required tasks on OraiDEX

Notes:

  • With concern to potential violations and malicious acts that go against mutual benefits of our community, Oraichain reserves all the rights to suspend the eligibility of any misconducted address and furthermore, revoke his/her fairdrop amount.
  • Multi-wallet users and blacklisted wallets from other Cosmos’s airdrop events are immediately prohibited from this event.

About OraiDEX and ORAIX

OraiDEX is a CosmWasm smart contract-based decentralized exchange platform with multichain interoperability, optimal speed, and a lot of liquidity options for users.

ORAIX is the governance and utility token of OraiDEX, and a meta-staking program for ORAI and ORAIX holders. Read more about ORAIX here.

ORAIX Tokenomics:

  • Total supply: 1,000,000,000 ORAIX
  • Staking rewards: 30% (including fairdrop + initial listing)
  • Liquidity mining incentives: 50%
  • Developer pool: 15%
  • Community pool: 5%

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