Airdropped Tokens: $XRP Holders to Benefit from Upcoming Sidechain Launch

Bombolo | News and Media

Evernode, a remarkable layer-2 network that aims to introduce smart contracts through Hoops onto the XRP Ledger, has recently announced exciting details about its upcoming airdrop for $XRP token holders. The project has garnered immense attention within the XRP community since it first disclosed its plans earlier this year. With the launch of Evernode beta on the Hooks v3 testnet in April and an impending audit of the network, anticipation is running high.

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The Airdrop Announcement

Evernode's whitepaper reveals a significant development in its roadmap – an airdrop of Evers, the protocol's native token, to eligible XRP holders. The airdrop is a strategic move to foster engagement and participation within the community. The announcement comes with the promise of distributing 5.16 million Evers to XRP holders, executed through a meticulous two-step process.

The Two-Step Airdrop Process

The airdrop process entails two crucial steps. Firstly, a snapshot of XRP holdings on the mainnet will be taken to determine eligibility. After this snapshot, the airdrop will be conducted on the Hooks sidechain. This innovative approach ensures a seamless and secure distribution of tokens to the intended recipients.

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Snapshot Date Selection

Evernode has left no stone unturned to ensure a smooth airdrop process. As the Hooks sidechain integrates burn2mint, a snapshot of the XRP Ledger is required before the sidechain's launch. Consequently, the project has designated Friday, September 1, at 6 pm AEST as the snapshot date for users' XRP Ledger balances. This careful selection is a testament to Evernode's commitment to precision.

Eligibility Criteria

To partake in the airdrop, XRP holders must have their tokens directly stored on-chain rather than on a cryptocurrency exchange. This measure is implemented to maintain the security and authenticity of the airdrop. While the project emphasizes the on-chain requirement, it remains uncertain whether any exchange will facilitate the distribution of tokens to its holders.

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XRP Ledger's Remarkable Activity

The XRP Ledger has recently captured the spotlight with its impressive transaction activity. Recording over 1.2 million daily transactions since the beginning of August, the ledger has surpassed Ethereum ($ETH), the second most popular network in the cryptocurrency sphere, which records 1.09 million daily transactions. This surge underscores the growing prominence of XRP and the increasing enthusiasm within its community.

In conclusion, Evernode's airdrop for XRP holders is a significant stride towards fostering engagement and appreciation within the community. With meticulous planning and a focus on user experience, Evernode has laid the groundwork for a seamless two-step airdrop process. As the snapshot date approaches, XRP holders are presented with an exciting opportunity to be part of this innovative distribution.

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FAQs

1. What is Evernode's main objective?
   Evernode aims to introduce smart contracts through Hoops onto the XRP Ledger, enhancing its functionality.
2. How many Evers will be distributed in the airdrop?
   Evernode plans to distribute 5.16 million Evers to eligible XRP holders.
3. When will the snapshot for the airdrop take place?
   The snapshot of users' XRP Ledger balances is scheduled for Friday, September 1, at 6 pm AEST.
4. Can XRP holders participate if their tokens are on an exchange?
   To be eligible, XRP holders must store their tokens directly on-chain, not on an exchange.
5. How active is the XRP Ledger compared to Ethereum?
   The XRP Ledger has been registering over 1.2 million daily transactions, surpassing Ethereum's activity.