Meridian Network
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Meridian Network

Community airdrop specifics

UPDATE June 29th

We’ve realized that the current airdrop system might incentivize holders to exploit it by distributing their holdings across multiple addresses. To avoid the effects of such an inflationary event on our token economics, we’ve decided to use two different airdrop snapshots, one at the time of this article’s publication (June 26th 7pm UTC) and another on June 30th 7pm UTC.

We will analyze each address that holds MRDN tokens and determine if there was any intention to distribute MRDN tokens as to increase the address’s owner airdrop share. If we find anything that confirms this intent the address will be automatically excluded from the airdrop.

Holders that have already performed this distribution have until the 30th to send their MRDN tokens back to the original address so their holdings can still count towards the airdrop.

This measure is necessary as to ensure the continuity of our project and the well-fare of our token holders who have joined us in our long term path to a legitimate and successful Meridian Network implementation.

Dear community,

Once again we’d like to begin by thanking you for the massive support you’ve shown so far. These last few days have been hectic, with many challenges for both the team and the community.

We’ve noticed many of you have expressed your concerns on how the airdrop will work, some claiming it’s a one time thing, others claiming it’s for holders only, among others. As so, we decided to release the airdrop specifics announcement earlier to give everyone enough time to clear their doubts.

Let us reiterate that this is the only airdrop release we will ever make, as the idea is to reward early adopters. No further airdrops will occur.

We’d also like to ensure that our holders are completely aware that the transition from MRDN tokens to LOCK tokens will take place via a token swap, through an interface which will be available on our website. More on this to come.

An important note before we continue:

After opening the airdrop registrations, we had an influx of submissions which didn’t make much sense from a holders count perspective. Although MRDN currently has around 200 token holders, we’ve had more than 80,000 airdrop form submissions within the last 4 days. We suspected something was up, and we got confirmation when our Telegram channel started receiving an unusually high number of new members sharing very similar characteristics.

We tested around 100 of those Telegram accounts, and while less than 10 replied, the vast majority remained unresponsive. As so, we decided to task one of our developers with doing some digging as to try and figure out the extent of this problem. What he discovered was that over 40% of our Telegram members were actually fake accounts who were able to join when out anti-spam bot was rendered inactive due to a glitch. By the time we’d replaced the bot, these accounts had already joined, so we tasked one of our admins with removing them.

Due to a major difference in numbers between our Telegram members (around 1,500) and our airdrop submissions (80,000), we decided to do the thing that made the most sense: to ensure that our token holders, who have trusted us to the point of investing their actual money into the project, would not have their airdrop share affected by this obvious scam attempt.

The airdrop structure:

The Meridian team has decided that only addresses containing MRDN tokens will be eligible for the airdrop, calculating each address’s share proportionally to its holdings.

We also decided to do a marketing/bounty rewards airdrop. For this airdrop there is no requirement to hold MRDN. We are aware that a lot of our community members have been producing content and promoting Meridian at their own initiative, and we’d like to show our appreciation for such an amazing effort.

As so, we decided to split the 750,000 MRDN airdrop as follows:

  • Our “token holder” airdrop will reward holders proportionally to their MRDN holdings;
  • The marketing & bounty airdrop will reward holders as per their efforts/content produced (again, users are not required to hold MRDN tokens);
  • The remainder of the 750,000 MRDN tokens will be used for future marketing efforts

Now, let’s get to the specifics for each airdrop.

Holders airdrop

  • We will be taking a snapshot of the MRDN token holders addresses and their holdings on June 30th 7pm UTC time. At the same time, airdrop distribution will commence
  • We estimate the airdrop distribution to take 3 to 4 days

Token allocations will follow address holdings as per the following tiers:

  • Addresses holding between 2,500 and 10,000 MRDN tokens will receive 250 MRDN tokens
  • Addresses holding between 10,001 and 25,000 MRDN tokens will receive 500 MRDN tokens
  • Addresses holding between 25,001 and 50,000 MRDN tokens will receive 750 MRDN tokens
  • Addresses holding between 50,001 and 75,000 MRDN tokens will receive 1,000 MRDN tokens
  • Addresses holding more than 75,001 MRDN tokens will receive 1,500 MRDN tokens

Content producers/Promoters airdrop

As for our marketing/bounty airdrop, we decided to create a Discord channel for users to submit their work so far. The channel is called “marketing-bounty”.

Users will be rewarded an amount of MRDN tokens that can go up to 1,000 MRDN tokens.

The submission period will take place until the 4th of July.

We recommend users to create a document, perhaps on a word processor such as Microsoft Word or another, where they can paste the weblinks to the Twitter posts they made, weblinks to any other content they made, paste design work they developed, anything really.

We’d just like to ask that you try to keep it organized so the channel doesn’t get cluttered with several messages from the same user (so basically avoid posting your content straight into the channel, or doing it through several messages) .

If you have doubts or are unsure on the best way to do this feel free to contact @Yomonk on our Discord channel.

Feel free to join our channels for more info, and once again thank you for all the support so far!

Wishing everyone a great weekend!

As always, stay safe!

The Meridian team

Twitter | Website| Telegram | Contract | Discord | Github

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