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ELEC Airdrop Announcement

Dear Tribe,


‘Tis the moment you’ve been waiting for: we are pleased to announce the details of our first-ever airdrop, commencing late September, six months after the launch of Electrify's ICO. The intention of this campaign to show thanks to our supporters and at the same time create greater awareness of our project in the wider blockchain community. Here’s what you need to know:


Eligibility

We will be distributing ELEC to three groups of people:

  1. Community members who passed our second KYC exercise but were ultimately not selected to participate in our ICO due to luck of the draw. This airdrop is thus a small token—or rather, a few tokens—of appreciation for your interest in our project

  2. ELEC holders at the time of the cut-off block height

  3. OMG holders of 10 OMG or more at the time of the cut-off block height

Note:

  • You will need to hold ELEC and/or OMG in a non-exchange wallet by 23:59 UTC +8, 23rd August 2018 to receive the airdrop

  • If you belong to both groups 1 and 2, your wallet address will only be counted ONCE. For example, if Alice passed our second KYC exercise and did not get selected to participate in our ICO (group 1), then went on to buy ELEC from an exchange, which she ended up holding in a non-exchange wallet during the time of the snapshot (group 2), she will only be airdropped once. However, if she also happens to hold 10 OMG or more (group 3) in her non-exchange wallet, she will receive a second airdrop


Block Height Determination

The snapshot will be taken on the last occurring block of 23:59 UTC+8, 23rd August 2018.


Distribution Mechanism

The total number of ELEC to be distributed in this campaign is:

3% of the total supply of ELEC (750,000,000) = 22,500,000 ELEC


For Groups 1 and 2, the number of ELEC to be distributed is:

1.5% of the total supply of ELEC (750,000,000) = 11,250,000 ELEC


The distribution of ELEC will use a weighted average:

(Individual Qualified Wallet’s Holdings ÷ Total Holdings of All Qualified Wallets) x 11,250,000


Example 1:

If all the qualified wallets in the distribution list have a combined holdings of 300,000,000 ELEC, and Bob holds 100,000 ELEC,


Bob will receive:

(100,000 ÷ 300,000,000) × 11,250,000 = 3750 ELEC

For Group 3 (OMG holders), the number of ELEC to be distributed is:

1.5% of the total supply of ELEC (750,000,000) = 11,250,000 ELEC


Example 2:

If all the qualified wallets in the distribution list have a combined holdings of 10,000,000 OMG, and John holds 300 OMG,


John will receive:

(300 ÷ 10,000,000) × 11,250,000 = 337.5 ELEC


Disclaimer: The numbers used in these examples are purely hypothetical. They do not reflect the actual number of wallets or actual holdings. These will be determined after the scans.


Expected End Date 

As time is needed for our tech team to complete the scans and execute the smart contracts for the airdrop, we anticipate the distribution to conclude by December 2018. We thank you for your patience and ongoing support!

We love to hear from you. Connect with us:

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