Information on the CORE airdrop in posts like The 3D Blockchain, Airdrop Incoming, and Mainnet is Live have all been referring to the same airdrop event. This post synthesizes that information in addition to providing further details.
Distribution Amount
Per the initial distribution of CORE tokens, users of the Core network will receive 525,600,000 CORE through the airdrop, which constitutes 25.029% of the total (hard capped) CORE token supply.
Distribution Recipients
The recipients of the airdrop are qualified users of Satoshi App who have mined in-app rewards (formerly known as BTCs). These qualified Satoshi App users will receive CORE as one of the benefits for their in-app mining performance.
CORE Unlock
As explained in Mainnet is Live, 25% of the number of CORE tokens to be airdropped will be made available to users at the genesis of the airdrop with the remaining 75% set to be unlocked monthly over a two year period. The two year period begins when the first 25% of tokens are airdropped/unlocked. Supporting network functions such as sending, receiving, or interacting with smart contracts for activities like staking will not be available with locked CORE tokens.
To align contributor and user interests, the contributors’ tokens will also vest. The contributors’ tokens will vest over a 4 year period (monthly with a 1 yr lockup). Also, note that early validator + staking rewards earned by the DAO are to be burned at a later date.
Distribution Efficacy
The airdrop will be executed by decentralized smart contracts that are enforced by code alone. In designing and auditing these smart contracts, the priority is user safety via decentralization and comprehensive security checks. Therefore, auditing the security of the code warrants an uncompromising level of careful consideration by many of the most esteemed folks in the blockchain world. In prioritizing security and decentralization over speed, the airdrop may take up to 60 days to begin.
Next Steps
Users of Satoshi App who qualify for the airdrop will receive instructional information inside the app. In order to receive the airdropped CORE, they will bind their public key address to their Satoshi App account. When user data is written into the airdrop smart contract, a small amount of CORE will be sent to users for covering gas fees in subsequent claims. More details will be provided in Satoshi App.
DISCLAIMER
The terms and details contained herein are subject to change at any time, with or without notice. There can be no assurance that any of the items related to the network will occur as described or will occur at all. Similarly, there can be no assurance that the network or any of the items related to the network will operate as described, operate without significant downtimes or without adverse consequences, or operate at all. Core and all related parties and affiliates disclaim any and all potential liability from any such failures, adverse events or any other related events.
The airdrop is only available to persons outside of the United States, Canada, and non-OFAC sanctioned countries and is subject to all applicable local laws, rules and regulations of the applicable jurisdiction. Each recipient shall determine which laws, rules and regulations are applicable and shall undertake all necessary efforts to comply with all such obligations. Core and its affiliates make no representation of the legal status of the airdrop under any jurisdiction and this airdrop is void where prohibited. Furthermore, nothing in this post should be construed as advice of any kind, including legal, business or tax advice. The airdrop does not constitute an offer to sell or the solicitation of an offer to purchase any investment.
