Airdrop for Ethereum, Cosmos power users set to take place next week

Time Stamp: February 11, 2022 11:24 AM
Source Node: 1608060

Cosmos-based project Evmos is planning to launch its token airdrop on February 15, according to co-founder Federico Küllmer.

Evmos is a project that seeks to link up the Cosmos and the Ethereum ecosystems. Cosmos is a network of blockchains, which are all designed so that tokens can be sent between them. While blockchains in the Cosmos ecosystem aren’t natively compatible with Ethereum (specifically the Ethereum Virtual Machine), Evmos seeks to be the first that is. And in doing so, it’s hoping to bring Ethereum users to Cosmos.

The airdrop, which was announced on December 15, will reward users of Ethereum as well as two Cosmos-based blockchains.

“We wanted to reward Ethereum users because we want their adoption in the Cosmos ecosystem,” said Küllmer. “We see Evmos as the gateway to Cosmos.”

On Ethereum, users will receive tokens who have used the most popular Ethereum applications, such as Aave, Uniswap and Compound. It will even reward those who have made MetaMask swaps (something many users have done in the hope of a MetaMask token airdrop). It will also reward those who have used bridges from Ethereum to other chains. Plus it will send tokens to those who lost funds in a number of high-profile hacks and rug pulls (including those who have lost funds to a form of frontrunning, known as MEV).

There will be some eligibility requirements. “Just MetaMask swap gave us 1.4 million addresses. Most of these addresses were just a few dollars’ worth of swaps. Even though the fees were super high. So we had to set up a threshold,” said Küllmer.

On Cosmos, the airdrop will be applicable for users of Cosmos Hub and Osmosis. It will apply to those staking the native tokens of each blockchain, as well as those engaging with the blockchains in other ways, such as providing liquidity within decentralized exchanges.

The airdrop won’t be quite as simple as other ones have been in the past. For users to claim portions of their tokens, they need to make some blockchain interactions. They need to do four tasks, each unlocking 25% of their tokens. These tasks include staking, governance voting and sending an IBC transfer (the way tokens are sent across blockchains within the Cosmos ecosystem).

The snapshot for the airdrop was taken on November 25, 2021. Evmos is launching a dashboard that will let users determine if they are eligible for the airdrop across their different wallets.

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