Shardeum - SHM Airdrop Phase 1 Update
As we prepare for the highly anticipated launch of Shardeum’s incentivized testnet, we’re thrilled to share some exciting updates about Phase 1 of our airdrop program. This initial phase is our way of expressing gratitude to the early contributors and participants who have played a pivotal role in Shardeum’s rapid growth as a Layer 1 solution.
In this blog post, we’ll delve into the factors and details that have influenced our selection process for Phase 1 beneficiaries. We’re committed to transparency and welcome your feedback on this update, as we strive to uphold Shardeum’s principles.
The Purpose of This Blog: Shardeum’s Phase 1 Airdrop Update
This blog aims to provide the community with essential details regarding Shardeum’s Phase 1 airdrop.
Phase 1 Eligibility Period: Information on the timeframe during which contributors are eligible for the airdrop.
Total SHM Allocated for Early Contributors: Details about the total allocation of Shardeum’s native token (SHM) for Phase 1 participants.
Number of Beneficiaries Rewarded under Each Category: Insights into how many contributors will receive rewards in each category.
Category & Eligibility Criteria of Contributors Rewarded: Explanation of the different categories and the criteria for eligibility.
Seeking Feedback from Contributors: Inviting community members to provide feedback on the Phase 1 update, fostering transparency and collaboration.
Additionally, Shadeum extend an invitation to node validators to participate in determining the number of eligible validators to receive airdrops in Phase 1.
Vote here -> https://app.deform.cc/form/ade7363a-7cd1-445b-9b81-065f53175da4/
SHM Coin: The Foundation of Shardeum’s Ecosystem
Shardeum’s native coin, Shard, is represented by the ticker symbol SHM. Functioning as the cornerstone of the Shardeum network, SHM plays a vital role in numerous aspects. Here’s a brief overview:
Utility Token: SHM serves various purposes, including staking, governance, rewards, and gas for transactions.
Divisibility: Each SHM is divisible up to 18 digits, akin to Ethereum’s ETH, offering flexibility in transactions and value representation.
Transaction Fee Burning: All transaction fees incurred on Shardeum are burned, effectively reducing the circulating supply of SHM. This deflationary mechanism is designed to ensure the token’s scarcity and bolster its long-term value.
Supporting Documentation: Further insights into SHM’s functionalities and the network’s economic model can be found in the Shardeum Whitepaper.
By leveraging SHM’s utility and embracing its deflationary model, Shardeum aims to foster a robust and sustainable ecosystem for its users and stakeholders.
SHM Token Allocation Breakdown
SHM will have a maximum supply of 508 Million. Here is the breakdown of SHM token allocation.
SHM Airdrop: A Three-Phase Journey
Shardeum Foundation plans to execute the SHM airdrop in three phases. The SHM allocation for respective phases are as below.
Eligibility Criteria Overview for SHM Airdrop Rewards
The SHM airdrop rewards are determined by two fundamental factors:
- High Performers in Each Category:
Criteria: Individuals who demonstrate outstanding activity or contributions within specified categories.
Reward Strategy: Recognizes exceptional performance and engagement, providing incentives to those who excel in their contributions.
2. Randomly Selected Contributors:
Criteria: Participants who meet specific eligibility criteria.
Reward Strategy: Ensures broader participation by randomly selecting individuals from a pool of users meeting predefined criteria. This inclusive approach aims to provide opportunities for all eligible participants to receive rewards.
By incorporating both performance-based and randomized selection mechanisms, the SHM airdrop program aims to acknowledge exceptional contributors while also ensuring fairness and inclusivity across the community.
Note: To ensure fairness and prevent potential misuse, the exact eligibility criteria (along with sybil & bot criteria) will be disclosed after the Phase 1 cut-off date. And as mentioned previously, Shardeum’s final announcement on Phase 1 airdrop will also have the finer details of the selected contributors. We appreciate your understanding and patience as we work to maintain the integrity of the process.
Airdrop Phase 1: Early Contributors
- Total SHM Allocated: 3,661,600
- Eligible Wallet Addresses: 35,281 (or) 42,281
- Eligibility Period: 2nd Feb 2022 - Cut-off date
- Cut-off Date: The cut-off date is set for one day before the incentivized testnet launch
Early contributors are grouped under the following four categories to recognize their unique contributions to the project, along with their respective allocated amounts.
1. Off-chain Contributors:
A) Shardeum logo design -> Contributors here have played an instrumental role in conceptualizing and designing the final Shardeum logo.
B) Shardeum website design & development -> Contributors here were pivotal in the website’s early design, development, and project management, significantly shaping our online presence.
C) Promoting awareness about Shardeum on Twitter -> Contributors here have been instrumental in amplifying Shardeum’s presence on Twitter. We have selected the Top 25 Shardeum twitter influencers for the phase 1 airdrop.
D) Shardeum Discord contributors -> Contributors here have helped in fostering a supportive and engaging community on the Shardeum Discord through their active and helpful interactions with other members. We have selected the Top 25 Shardeum Discord contributors for the phase 1 airdrop.
E) Contributors whitelisted for POAP distribution -> These are individuals who have actively participated in Shardeum’s journey by attending in-person Proof of Community Meetups and joining our online monthly/quarterly Shardeum update sessions. Eligibility criteria:
Online Event Participants — Participants with minimum 4 POAP whitelists
Offline Event Participants — Random 1000 Participants whose POAPs are whitelisted
F) Super Shardian Program Contributors-> Twitter Thread Program: Contributors here crafted informative and engaging Twitter threads to showcase and discuss various aspects of Shardeum. Eligibility criteria:
Thread with a minimum of 5 tweets about a Shardeum-related topic
Top 30 contributors will be rewarded in this airdrop
Discord Invites: These are contributors who have onboarded Discord members through the Discord Invite Program. Eligibility criteria:
Referred at least 50 Discord members
Top 30 contributors will be rewarded here
Telegram Invites: These are contributors who have onboarded Telegram users through the Telegram Invite Program. Eligibility criteria:
Referred at least 25 Telegram members
Top 30 contributors will be rewarded here
Shardeum is Borderless program: Contributors here have written/translated and published educational blogs about Shardeum on third party blogging platforms. Contributors also include those who published videos about Shardeum on social media and other video platforms. Eligibility criteria:
Minimum of 10 blog & video submissions
Top 50 contributors are rewarded
Early Translation Program Contributors: These are contributors who translated official litepaper, pitch deck, due diligence reports, blog posts in more than 10 languages during the early part of 2022.
Eligibility criteria:
Minimum of 3 translated submissions
Top 10 contributors are rewarded
Proof of Community Program: Contributors here organized Shardeum’s Proof of Community meetups across the world in an effort to educate and create awareness about the project and the larger Web3 ecosystem. Eligibility criteria:
- Those who organized more than 2 events or organized events with zero incentives
Shardeum Leagues: They are community-run groups who are actively spreading awareness about Shardeum among their conmunities across the world. Eligibility criteria:
Leagues that are active for more than 12 months who have a minimum of 500 followers and shared Shardeum-related content on Twitter
Leagues that area active for more than 10 months who have a minimum of 100 members, and shared Shardeum-related content on Telegram
Top 25 leagues are rewarded
Twitter — based on the number of followers and posts, quality of posts, active months, impact created
Telegram — based on the number of members, quality of posts, active months, impact created
Note: The Super Shardian program includes various eligibility criteria and an internal point system to rank contributions based on parameters such as Quantity, Quality, Originality, and Consistency.
These categories represent the diverse contributions made by individuals to Shardeum’s community and development. Each category has specific eligibility criteria, ensuring fairness and transparency in the selection process. Additionally, Shardeum Leagues are recognized for their efforts in spreading awareness and engaging their communities.
2. On-chain Contributors:
These contributors actively participated in stress testing the Shardeum network, engaging in transactions, testing various Shardeum ecosystem dApps, and partaking in other network-related activities. Their dedication was pivotal in ensuring the resilience of our platform.
Eligibility Criteria:
Top 1000 Contributors:
Criteria: Individuals with the highest scores, each earning a minimum of 1 point across all categories.
Reward: Ranges from 1,000 to 10,000 SHM.
Additional 25,000 Contributors:
Criteria: Random selection from individuals scoring above a specified threshold (exact number to be disclosed post cut-off date).
Reward: Each selected contributor receives 50 SHM.
A meticulously tailored scoring mechanism has been implemented to ensure fairness and effectiveness in evaluating contributions. The specifics of this scoring mechanism will be revealed after the cut-off date to uphold the integrity and impartiality of the process.
These on-chain contributors have played a crucial role in the development and testing of Shardeum’s network, and their efforts are greatly appreciated and duly rewarded.
3. Developers:
A) Developed Shardeum Native Dapps:
Criteria: Early adopters who have deployed dApps on Shardeum Liberty and Sphinx.
Reward Pool: 250,000 SHM tokens.
Exact criteria to be released post cut-off date.
B) Hackathon Participants:
Criteria: Contributors actively involved in the EthIndia hackathon, deploying dApps on the Shardeum Testnet.
Developers are at the forefront of innovation within the Shardeum ecosystem, driving the creation of native dApps and pushing the boundaries of what is possible. Their contributions are crucial to the growth and evolution of Shardeum, and they are rewarded accordingly for their efforts.
4. Node Validators:
A) Top 50 Node Validators:
Criteria: Leading validators, details to be announced post cut-off date.
Reward: Ranges from 500 to 10,000 SHM.
B) Random Selection of Additional Node Validators:
Criteria: Validators meeting a minimum number of hours (exact requirement to be specified).
Reward:
6,950 validators 200 SHM each or 13,950 validators 100 SHM each.
Node validators play a critical role in maintaining the integrity and security of the Shardeum network. Their contributions are highly valued, and rewards are allocated to recognize their efforts in securing and supporting the network infrastructure.
Call to Action for Node Validators
Participation of node validators was crucial in shaping the Phase 1 SHM airdrop distribution. We invite you to vote for one of the following options, which will determine the number of contributors eligible under category 4B:
Option 1: Random 6,950 Node validators will be rewarded with 200 SHM each.
Option 2: Random 13,950 Node validators will be rewarded with 100 SHM each.
Please note: Only the votes of Node Validators will be considered in this poll. Upon completion, Node Validators’ wallet addresses will be filtered to ensure that only their selections are taken into account.
Please Vote here -> app.deform.cc/form/ade7363a-7cd1-445b-9b81-..
Shardeum ECP: Future Opportunities for Unrewarded Contributors
Shardeum strive to acknowledge as many contributors as possible in our phase 1 airdrop, we understand that not all participants can be rewarded with SHM tokens. However, we’re excited to introduce our Early Contributor Program (ECP) for those who met the minimum eligibility criteria during the phase 1 period.
Eligible contributors will be integrated into the ECP and receive a Unique NFT, offering potential benefits such as:
Preference in IEO: Subject to the hosting platform, contributors may receive priority access to Initial Exchange Offerings (IEOs), with a certain allocation percentage (X%) reserved for ECP members.
Priority Access to Ecosystem Project Airdrops: ECP members may enjoy priority access to airdrops from ecosystem projects, subject to the consent of the partnering entities.
Preference in Future Contests and Campaigns: ECP participants will have preference in future contests and campaigns organized by Shardeum.
Future Reward Multipliers: ECP members may benefit from reward multipliers in future initiatives.
Please stay tuned for comprehensive details about the ECP in our Phase 1 final announcement.
The Bigger Picture: A Fair SHM Token Distribution
Similar to Shardeum’s network architecture and tokenomics, our airdrop approach is unique and unparalleled. Here are some of its distinctive elements:
Finite Supply: Shardeum stands out by strategically capping the SHM token supply at 508 million, fostering a sense of scarcity that enhances the perceived value of SHM. This approach protects against hyperinflation and oversaturation, positioning SHM not only as a utility token but also as a store of value.
Community Empowerment:
With 51% of the token supply allocated towards node rewards, Shardeum ensures that 56% of the total SHM allocation benefits the community. This commitment to community empowerment fosters a more decentralized and inclusive ecosystem.
Democratizing Node Operation: Shardeum is dedicated to democratizing node validation, enabling average users to run nodes on the network with minimal hardware requirements. Through user-friendly GUI features and affordable single-click node deployment options, Shardeum removes barriers to node operation, further enhancing decentralization. This unique approach, coupled with the significant token allocation for nodes, sets Shardeum apart from other Layer 1 and Layer 2 solutions.
Next Steps — Submit Feedback & Await Final Announcement: As we prepare for the Phase 1 airdrop, we urge our community to await the final announcement directly from Shardeum. We value your feedback and encourage you to share your thoughts with us to ensure transparency and alignment with community preferences. Please disregard any information from other sources to prevent confusion or misinformation. We appreciate your patience and support as we continue to build a robust and inclusive ecosystem together.
Submit Your Feedback Here -> app.deform.cc/form/a33aec6a-ba0e-4899-9fc7-..
Upcoming Airdrops: Incentivized Testnet & Mainnet Campaign
As we conclude Phase 1 of our airdrop program, we’re thrilled to announce the upcoming phases that will further engage and reward our community.
Phase 2:
Incentivized Testnet Airdrop Get ready to dive into the action as we launch the Incentivized Testnet in the coming weeks. This phase is designed to incentivize and support participants as they contribute to stress-testing and enhancing the network. Stay tuned for the official launch date announcement!
Final Phase:
Mainnet Campaign Following the successful launch of the mainnet, we’ll roll out a series of initiatives aimed at boosting on-chain activity and engagement. These initiatives will be introduced in stages to ensure sustained interest and participation in the mainnet ecosystem, offering exciting opportunities for our community members.
Closing Notes At Shardeum, we deeply value every contributor who has been part of our journey from the early days to the present. Our commitment to recognizing and rewarding participants across all stages underscores our dedication to building a strong and inclusive community.
As we move forward, Phase 1 of our airdrop is just the beginning. Together, we’ll continue to shape the future of Shardeum and the broader Web3 ecosystem.
Frequently Asked Questions (FAQs)
1. What is Shardeum or SHM airdrop?
The Shardeum or SHM airdrop is a strategic initiative aimed at distributing SHM tokens, the native tokens of the Shardeum blockchain platform, directly to eligible community members’ digital wallets. This airdrop demonstrates Shardeum’s commitment to providing a rewarding experience for its community, emphasizing the value of active participation and contribution to the network.
The primary objectives of the Shardeum Phase 1 airdrop include:
1. Rewarding Early Contributors: Recognizing and rewarding individuals who have played a key role in Shardeum’s growth and development from its inception.
2. Decentralizing Ownership: By distributing SHM tokens to a wide range of community members, Shardeum aims to decentralize ownership of the platform and promote a more inclusive ecosystem.
3. Encouraging Engagement: The airdrop incentivizes users to engage more deeply with the Shardeum platform, fostering a sense of participation and investment in its growth and success.
With the mainnet launch on the horizon, the Phase 1 airdrop sets the stage for continued community involvement and lays the groundwork for a vibrant and thriving Shardeum ecosystem.
2. Having recently joined the Shardeum community, have I missed the opportunity?
Welcome to Shardeum! You’re right on time. Shardeum is committed to long-term, widespread decentralization — growing horizontally or in other words, growing with, and driven by the people! Our journey includes several key phases, with upcoming airdrops for both our Incentivized Testnet and the Mainnet launch. To stay involved and contribute, join our Discord server and get started. Your participation now can play a vital role as we transition from testnet to mainnet. Beyond these initial airdrops, Shardeum and our ecosystem project will offer numerous future opportunities. These range from career openings, grants to build innovative projects/dapps, node operation, various campaigns & contests, NFTs among others. So, rest assured, there’s much more ahead — you’re still at the forefront of exciting developments!
2. Having recently joined the Shardeum community, have I missed the opportunity?
Welcome to Shardeum! You’re right on time. Shardeum is committed to long-term, widespread decentralization — growing horizontally or in other words, growing with, and driven by the people! Our journey includes several key phases, with upcoming airdrops for both our Incentivized Testnet and the Mainnet launch. To stay involved and contribute, join our Discord server and get started. Your participation now can play a vital role as we transition from testnet to mainnet. Beyond these initial airdrops, Shardeum and our ecosystem project will offer numerous future opportunities. These range from career openings, grants to build innovative projects/dapps, node operation, various campaigns & contests, NFTs among others. So, rest assured, there’s much more ahead — you’re still at the forefront of exciting developments!
3. Who is eligible for the airdrop in this phase? And how will I know if I’m eligible for the airdrop?
We will make an official announcement with all the necessary details of phase 1 airdrop campaign soon. It will also have details about how and by when you can expect to receive the airdrop tokens.
4. What measures are being taken to ensure a fair airdrop?
Even though it is not feasible to reward all contributors, we’ve devised a two-pronged approach at the core for distributing SHM rewards in our effort to conduct a fair airdrop:
High performers in each category who meet specific eligibility criteria: This includes contributors who exhibit exceptional activity or contributions within specified categories. It rewards those who stand out due to their performance and engagement.
Randomly selected contributors who meet specific eligibility criteria: To ensure wider participation, rewards will also be distributed to individuals who are randomly chosen from a pool of users meeting predefined criteria. This approach broadens the opportunity for rewards, ensuring that all eligible participants have a chance to benefit.
Eligibility, sybil & bot criteria will be disclosed after the cut-off date.
5. Considering the selection criteria and process for the Phase 1 airdrop as detailed in the article, is there a possibility that I might not be included?
Thank you for raising this important question. We’ve dedicated considerable effort to acknowledge as many early contributors as possible, conducting an unparalleled and thorough analysis of the data to determine eligibility. It’s true that not all early contributors will receive airdrops in this phase. However, that’s exactly why we are planning to introduce Shardeum Early Contributors Program or ECP to provide additional benefits, especially, to unrewarded contributors who met a minimum criteria during the phase 1 eligibility period. The criteria will be disclosed after the cut-off date.
6. Are there any regional restrictions for receiving the airdrops?
Yes. Participants/contributors residing in countries or territories subject to comprehensive sanctions will face restrictions. A detailed list of these locations will be provided alongside our final airdrop announcement document.
7. How can I stay updated on the upcoming airdrop campaigns?
Make sure to join our Discord server, and other social channels of your choice to stay on top of upcoming campaigns. Additionally, to stay informed about the latest developments on Shardeum, we encourage you to subscribe to our newsletter. Our subscribers receive regular updates filled with essential details about our ongoing and upcoming activities.
8. What is the eligibility criteria for on-chain contributors?
We have implemented a scoring mechanism to measure the performance of on-chain contributors. It will be disclosed after the cut-off date to prevent potential misuse.
9. What is the eligibility criteria for node validators?
The criteria for selection will be mainly based on standby hours. The actual criteria will be disclosed after the cut-off date.
10. When will the snapshot for eligibility be taken in relation to phase 1 airdrop?
Snapshot will be taken on the cut off date (one day preceding the Incentivized Testnet launch).
11. Are snapshots taken at all versions of Liberty and Sphinx testnets?
Yes, snapshots have been taken during all versions of Liberty and Sphinx.
12. How does the duration of operating a node affect my eligibility for rewards, especially considering some rewards are randomized? For example, is there a difference in rewards for someone who ran a node for 10 months versus just one month?
Our reward structure is designed to recognize and reward the commitment and contribution of our node operators fairly through data driven analysis and feedback received from community. As noted in the blog, it’s important to note the two main pre-requisites for any participant to qualify for rewards:
High performers in each category who meet specific eligibility criteria: This includes contributors who exhibit exceptional activity or contributions within specified categories. It rewards those who stand out due to their performance and engagement based on certain criteria.
Randomly selected contributors who meet specific eligibility criteria: To ensure wider participation, rewards will also be distributed to individuals who are randomly chosen from a pool of users provided they meet the minimum eligibility criteria.
Eligibility, sybil & bot criteria will be disclosed after the cut-off date.
13. Are early contributors before the launch of betanet on February 2, 2023, eligible for airdrops?
Eligibility period of Airdrop Phase 1 for early contributors is between February 2, 2022 to the last day before the upcoming incentivized testnet.
14. When are you launching Incentivized Testnet?
The Incentivized Testnet is anticipated to launch within the next few weeks.
15. Can I run a node now?
Yes, you can run the node now, as the cut-off period for Airdrop Phase 1 extends up to the day before the launch of the incentivized testnet. We further encourage participants/contributors to stay engaged throughout all versions of Shardeum testnets and beyond into our mainnet launch. This is considering we have airdrops allocated for both the upcoming incentivized testnet and the mainnet.