Yes, you read that right! On February 2, 2024, we sent out the first airdrop of our native token, THOL, exclusively for our active AngelBlock platform users. The snapshot for the airdrop was taken on December 28, 2023, and all eligible users should already have the tokens in their wallets, so there’s no need to claim! Congratulations to everyone who was eligible.
First things first though. Why did we do our first airdrop now?
The crypto world took us on a wild ride from 2022 to 2023. People were jumping ship, scams lurking at every corner, and projects acting like they'd seen a ghost ship. For us, however, both years and ever so slightly 2024, were a time where we brought our protocol to life. We had our token launch, our fundraise, and milestone solution ready – and did our first two fundraises with Stabble and Script Network (And hey, there's way more in the pipeline!).
Of course, it wasn’t a walk in the park, and we had to adjust to the market conditions as well. But through thick and thin, one thing stood unwavering – our awesome community.
We had many community members who came and went, many who stayed, and many more who were silent even though active in monitoring the project’s development, and these were the members who got the airdrop. Don't get us wrong, we don't want to diminish the effort of the rest of the community, but rewarding loyal participants who walk the talk is something that we actively want to do, simply because they double down on trust and support for our team, the whole project, and, of course, the fundraises. For that, we’re grateful and wanted to display our gratitude.
So, what were the eligibility requirements to get the airdrop?
To qualify for the THOL Airdrop, users needed to have invested in at least one startup participating in the platform's fundraising (There was no minimum capital requirement – only participation). Once this base criterion was met, the rewards got even better for those who:
Staked THOL and/or NFTs
Had undergone KYC
Participated in AngelBlock's Community Round token sale.
Voted in a project’s post-raise governance milestones
What was the size of the airdrop?
The airdrop varied based on the criteria above, but users could be awarded:
up to 100,000 THOL for the most active participants that met all the criteria
while the minimum reward just from investing in one of the projects raises was 25,000 THOL.
It's important to note that this airdrop is distinct from the planned airdrop for NFT owners, scheduled to occur upon the minting of our second batch of AB NFTs. For the recent airdrop, we allocated a portion of our treasury wallet. As communicated in the early days, utilizing these funds to reward our community is just one of many planned initiatives.
We've exercised great care in ensuring that the rewards are distributed to genuine protocol participants. As mentioned earlier, the snapshot was taken on December 28th.
Thank you for taking the time to read this, and if you happen to be one of our longstanding community members, we extend our heartfelt appreciation for standing by our side over the past two years. If you're not yet part of our community, we warmly invite you to join us. This is only the beginning.