Announcing the CARD Airdrop for Card Pay & Card Wallet
Rewards for early Card Pay & Card Wallet users
Today, we are excited to announce a 10,000,000 CARD airdrop to early Card Pay and Card Wallet users. This announcement is part of our 2022 Roadmap, where we scheduled a retro drop for Q1 of this year.
Launched in November 2021, the Card Pay Protocol is an Ethereum Virtual Machine (EVM)-compatible payments solution currently deployed on Gnosis Chain. The solution allows users to leverage a built-in fiat onramp and facilitates direct payments to merchants. Card Pay’s companion app Card Wallet is a mobile application for blockchain payments that offers customers and merchants a first-of-its-kind gasless payment experience, thus bringing fast, easy, and cheap Web3 payments to the masses. Together, Card Pay and Card Wallet give shape to an entirely trustless payment ecosystem.
Details about the airdrop:
The Airdrop Reward Period is from November 9, 2021 to May 7, 2022. There will be 3 airdrops based on activities during the Airdrop Reward Period.
Airdrop #1: 6,000,000 CARD
Reward Period: November 9, 2021 to March 7, 2022
Airdrop #1 is for payment activity that occurred using Card Wallet between block 1726598 and block 20986720 on Gnosis Chain. This is a retroactive airdrop for users who have helped us get to this point.
Airdrop #2: 2,000,000 CARD
Reward Period: March 7, 2022 to April 7, 2022
Airdrop #2 is for payment activity that occurred using Card Wallet during the Reward Period that begins with block 20986721 on Gnosis Chain.
Airdrop #3: 2,000,000 CARD
Reward Period: April 7, 2022 to May 7, 2022
We will announce the snapshot block for Airdrop #3 on April 7, 2022. This will be the end of the Reward Period for Airdrop #2 and the start of the Reward Period for Airdrop #3.
Main goals behind the airdrop:
- To reward Cardstack community members and adopters: Many community members have dedicated a lot of time and effort to help test the Card Pay dApp and the Card Wallet mobile app. This airdrop serves as a token of appreciation for these early testers.
- To drive engagement through rewards: We are launching the Card Reward Protocol, our reward engine. As for the rewards themselves, a large part of the total supply of CARD is allocated for the community and can be earned through productive community actions.
The 10,000,000 CARD represents the first release of tokens from Batch D of the Cardstack Token allocations. Batch D is the token batch reserved for user incentives. These tokens will be minted from the smart contract in the coming weeks. Airdrop #1 will be available to claim in late March or early April. Please note that these rewards will be claimable only via the Card Wallet mobile application. The reward tokens will be distributed as CARD.CPXD tokens on Gnosis Chain.
What are CARD.CPXD tokens?
The CARD.CPXD token is a token that has been bridged from Ethereum Mainnet to Gnosis Chain through the Card Bridge Protocol. Therefore, it is a CARD token from mainnet, wrapped in the Card Protocol on xDAI (now Gnosis Chain). If desired, CARD.CPXD tokens can be withdrawn from the protocol through the Card Pay dApp, using the withdrawal function that bridges the tokens back to Ethereum Mainnet.
Who is eligible for the airdrop?
Any user who has downloaded Card Wallet and made at least one payment during the Reward Period is eligible to claim rewards from the airdrop.
There were two types of payments users could make:
- Paying another user with a prepaid card through a payment request
- Paying the protocol fee by creating a business account
How is the airdrop amount calculated?
Each Card Pay payment that a user made during the Reward Period entitles that user to a portion of the reward pool.
- Reward Pool for Airdrop #1: 6,000,000 CARD
- Reward Pool for Airdrop #2: 2,000,000 CARD
- Reward Pool for Airdrop #3: 2,000,000 CARD
The more payments a user made during the Reward Period, the more tokens that person will receive.
Example: If a total of 5,000 payments were made among all users between November 9, 2021 and March 7, 2022, each payment would be worth an airdrop amount of 1,200 CARD.CPXD (6,000,000 CARD / 5,000 payments). In that case, a user who made 22 payments during the Reward Period would receive 26,400 CARD.CPXD.
How do I claim the airdrop?
The airdrop will be claimed through the Card Wallet mobile application. We will publish additional information in the coming weeks with detailed instructions on how to claim the rewards.
We hope this airdrop demonstrates how much we value our users and their engagement as we continue to develop our products!
If you have any questions, please feel free to reach out to the Cardstack team via our Discord channel.
