Shardeum, as the world’s first EVM-based Layer-1 blockchain, recently made an exciting announcement about the first phase of the SHM airdrop. Co-founder Nischal Shetty announced that they released the network’s first phase airdrop draft and received over 3,000 feedback. This first campaign will be held to thank community members who have helped expand the network’s presence in the crypto market. Additionally, the draft includes critical details such as the launch of Shard (SHM) token and upcoming airdrop phases.
New Updates from Shardeum
Shardeum, SHM tokenHe stated that the maximum supply of 508 million will be allocated to Token Generation Events (TGE) and various validator and archiver nodes in the ecosystem. The foundation also announced that it plans to hold the airdrop in three main phases. The first phase will focus on early participants, while the second phase will focus on a testnet and the third phase will focus on the mainnet campaign with the largest token allocation of 18.44 million SHM. In total, 25.4 million SHM tokens allocated for the airdrop attracted great attention in the crypto world.
Speculations are also circulating regarding the possible effects of the airdrop on the foundation’s treasury. Nischal responded to these allegations by saying, “This is not true, our team’s participation is out of the question. Airdrop allocation is for the community only and does not have a portion allocated to our treasury.” he replied.
Missed Opportunities and New Opportunities for Participants
Notably, the Shardeum community also announced plans for participants who did not receive rewards. While the Shardeum Foundation cannot reward all node validators in an airdrop, it has launched an Early Contributor Program (EVP) during the first phase eligibility process, which rewards participants with an NFT that offers exclusive benefits. Eligibility criteria include high performers and randomly selected participants so a wider range of community members can benefit. This was achieved by rearranging the sentences to make the text more readable and understandable.