Burn-Drop v2 Tokenomics Kickoff: Airdrip IGNITE (Apr 28 — May 31)

IoTeX Team
Apr 27 · 4 min read

It’s official! There are now 3,000+ devices on the IoTeX Network, which means Burn-Drop v2 tokenomics are officially LIVE. To celebrate, we are hosting a special kickoff campaign called Airdrip IGNITE where Burn-Drop eligible stakers will receive $100,000 worth of mimo liquidity pool (LP) tokens (i.e., IOTX-XRC20 token pairs) from now until May 31!

Sign up for Airdrip IGNITE at burndrop.iotex.io starting April 27 @ 10pm PDT!

Starting April 27 at 10pm PDT, Burn-Drop eligible stakers can sign up for Airdrip IGNITE via burndrop.iotex.io to receive the “Coin of the Week”. Each week a new mimo LP token, which represents ownership of IOTX-XRC20 token pairs in mimo liquidity pools, will be delivered to Burn-Drop eligible stakers (i.e., stake ≥91 days with stake-lock on). For Week 1 (Apr 28 to May 4) and Week 2 (May 5 to May 11), CYC-IOTX and VITA-IOTX pool tokens will be sent to all Burn-Drop eligible stakers that sign up — get ready!

Airdrip IGNITE is in addition to IOTX “Burns” & “Drops” that are now active for Burn-Drop v2. This means from now until May 31, Burn-Drop eligible stakers will earn IOTX staking rewards + boosted IOTX “drops” + Airdrips of mimo LP tokens! Make sure to set your staking buckets to ≥91 days stake duration with stake-lock on to be eligible for Burn-Drop and Airdrip IGNITE.

Airdrips — New for Burn-Drop v2

Burn-Drop v2 expands on our original Burn-Drop design by introducing Airdrips. 25% of the total Burn-Drop IOTX supply (i.e., 25M IOTX per Burn-Drop phase) will be contributed gradually to a new Airdrip DAO after every new device is registered to IoTeX. This Airdrip DAO will utilize a points-based system where Burn-Drop eligible users will be “dripped” non-transferrable points on a continuous basis proportional to the size and duration of their stake. Burn-Drop eligible stakers will accumulate points over time, which they can use to claim mimo liquidity pool (LP) tokens that represent ownership of various IOTX-XRC20 token pairs in mimo liquidity pools. The longer you participate in Burn-Drop, the more points you earn, and the more mimo LP tokens you can claim! Here is how it all works:

After Airdrip IGNITE concludes on May 31, every Burn-Drop eligible user will start to accumulate non-transferrable points based on the size and duration of their stake. XRC20 tokens submitted to the Airdrip DAO by ecosystem projects will be matched with the IOTX in the Airdrip DAO to form IOTX-XRC20 token pairs, which will be added to a mimo liquidity pool (LP). The pool tokens that represent ownership of these IOTX-XRC20 token pairs in the mimo LPs will then be claim-able using points by Burn-Drop eligible stakers. Effectively, this means the 25% of total Burn-Drop IOTX supply (i.e., 25M IOTX per Burn-Drop phase) will be matched with the equivalent value of XRC20 ecosystem tokens and made available to Burn-Drop eligible stakers. An incredible amount of extra rewards will be earned by “true believers” thanks to Burn-Drop v2 and Airdrips — stay tuned for more details!

About IoTeX

Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.

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IoTeX

Building the Internet of Trusted Things

IoTeX

Founded as an open source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all humans, machines, and businesses can interact with guaranteed trust and privacy.

IoTeX Team

Written by

Building the Internet of Trusted Things: iotex.io

IoTeX

Founded as an open source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all humans, machines, and businesses can interact with guaranteed trust and privacy.

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