Arbitrum Protocol’s Chronos unveils rules for Token Allocation and Air Drop

04/19/2023 04:15 • Tech Trends • 74 views

On April 19th, it was announced that the Arbitrum Ecological AMM protocol, Chronos, has released detailed rules for token allocation and air drop, with plans to allocate 53% of the initial supply to over 16000 users. It is reported that the initial supply of CHR is 50000000 pieces. 9% of the initial supply will be allocated to CHR NFT holders, 25% to partner agreements, and 21% to veCHR users for air drop.

Arbitrum Ecological AMM Protocol Chronos Releases Token Allocation and Airdrop Rules

The Arbitrum Ecological AMM protocol, Chronos, recently made headlines with the announcement of its detailed rules for token allocation and air drop. The project has plans to allocate 53% of its initial supply – 50 million pieces, to be exact – to over 16,000 lucky users. In this article, we will discuss the detailed rules governing the Chronos token allocation and air drop.

Chronos’ Token Allocation Plan

The Chronos team plans to allocate a large portion of the initial supply of 50 million CHR tokens to its early adopters and supporters, including CHR NFT holders, partner agreements, and veCHR users.

CHR NFT Holders’ Allocation – 9%

The Chronos team aims to reward its CHR NFT holders with a 9% allocation of the initial supply. This allocation will be proportionate to the number of CHR NFTs a user holds at the time of the air drop. For example, if a user holds 10% of the total CHR NFTs, they would receive a 10% allocation of the 9% set aside for CHR NFT holders.

Partner Agreements’ Allocation – 25%

The project team also plans to distribute 25% of the initial supply to partner agreements. The team has not yet revealed the list of partners but has promised information on them will be released in the coming weeks.

veCHR Users’ Allocation – 21%

Chronos plans to distribute 21% of the initial supply to its veCHR users. The amount allocation will be based on the amount of veCHR a user has in their wallet at the time of the distribution. This allocation will also have a lock-up period that can range from 3 to 12 months depending on the amount of veCHR held in the wallet.

The Air Drop Plan

After the token allocation, the Chronos team will embark on a massive air drop program to reach out to its supporters and early adopters. The team plans to roll out the air drop in two phases – The first phase will begin in Q2 2021, and the second will commence in Q3 2021.
The first phase will cover the distribution of 16% of the initial supply of CHR tokens to its community members, for completing specific tasks such as referral invitation, Twitter shares, and retweets. The team has not yet revealed the details of the specific tasks, but they will come soon.
In the second phase that begins in Q3 2021, Chronos will distribute 37% of the initial supply to its community members in incentives for providing liquidity to long-term incentivized pools.

Conclusion

Chronos token allocation and air drop plan is a bold move by the Arbitrum Protocol team to reward its early supporters and adopters. With over 16,000 users set to benefit from the token allocation and air drop program, it promises to be a significant event in the DeFi space.

FAQs

1. How do I become a CHR NFT holder?
CHR NFT holders are users who hold a unique non-fungible token with specific value and rarity. You can obtain it by participating in the CHR NFT market.
2. What is veCHR?
veCHR is a governance token for the Chronos Protocol, and it is earned by staking CHR tokens in a long-term incentivized pool for over 14 days.
3. How do I participate in the Chronos air drop program?
You can participate in the Chronos air drop program by following the specified tasks in the first air drop phase or providing liquidity to the incentivized pool in the second phase.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/04/19/arbitrum-protocols-chronos-unveils-rules-for-token-allocation-and-air-drop/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.