ORAIX Fairdrop Announcement #6 for OSMO holders
We are pleased to continue the series of ORAIX Fairdrop Program by welcoming the attendance of OSMO holders! Along with ORAI, ATOM, OSMO, AIRI, and KWT holders, those who own OSMO tokens on the Osmosis network will have a chance to join ORAIX Fairdrop Program — the governance token of OraiDEX that will be listed in late May.
Snapshot requirements for OSMO holders on the Osmosis and Oraichain network
The holders of OSMO tokens that meet either of the below conditions (at the snapshot moment) will be qualified for the ORAIX Fairdrop Program:
- Being Native OSMO on the Osmosis network or;
- Being IBC OSMO on Oraichain/OraiDEX. The ORAI/OSMO pool will be started soon.
Snapshot date: at any time until the ORAIX listing event in May
Number of snapshots: 1
ORAIX Fairdrop Distribution for OSMO holders
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:
- Total allocation for OSMO holders (up to 2% of ORAIX total supply)
- OSMO balance
- Delegated OSMO, un-delegated OSMO, IBC OSMO on the Oraichain network will have different multipliers.
- Max cap each wallet
- Wallet’s history activities
- Required tasks on OraiDEX
- The fairdrop formula is designed to ensure that all ATOM holders are given a fair opportunity to receive ORAIX.
- 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.
Total supply: 1,000,000,000 ORAIX
Staking rewards: 30% (including fairdrop + initial listing)
Liquidity mining incentives: 50%
Developer pool: 15%
Community pool: 5%
Listing price on OraiDEX will be voted by ORAI holders (below is an example):
Listing price: $0.025
Initial circulating supply: 20,000,000 ORAIX
Initial market cap: $500K
Diluted market cap: $25M
Staking rewards, liquidity mining incentives, and developer pool will be vested in 5+ years.