Participate in our site's Proof of Keys Airdrop Initiative
Shardeum, a blockchain platform, has announced the launch of its Proof of Keys Airdrop program for SHM tokens. This initiative encourages users to demonstrate self-custody of their SHM tokens by holding them securely in their own wallets for a predefined period.
To participate in the airdrop, users must register their wallet on the program page and hold SHM tokens in a self-custodial wallet, such as MetaMask, for a continuous 30-day holding period. The holding period depends on the registration date, with the example of registering on August 7 meaning holding until September 5.
During the holding period, SHM balances are checked at multiple points, including days 1, 8, 17, and 30. The amount of SHM considered for the airdrop is the minimum balance held during the period. Rewards for the airdrop can vary, with examples being up to 50 SHM for a lowest balance of 500 SHM, up to 500 SHM for a lowest balance of 5,000 SHM, and up to 2500 SHM for a lowest balance of 25,000 SHM.
It's important to note that distribution amounts are based on qualifying wallet activity and holding patterns, and are not guaranteed. Also, custodial/exchange wallets are not eligible for the airdrop.
KYC verification may be required for wallets receiving SHM airdrop exceeding 1,000 USDC in value. The airdrop is subject to eligibility and verification. However, the distribution schedule for the airdrop has not been communicated yet.
This program is inspired by Trace Mayer's original "Proof of Keys" campaign for Bitcoin, which emphasized moving tokens to self-custodial wallets to prove ownership and security outside exchanges. Shardeum's version aims to encourage decentralization and self-custody among its community by rewarding holders who retain control over their funds for a sustained time.
Participation in the Proof of Keys Airdrop Program is voluntary and subject to the discretion of the website, and may be modified, paused, or terminated at any time. The airdropped SHM tokens are provided as a community incentive and do not constitute an offer of securities or financial products.
In summary, the Proof of Keys Airdrop rewards users who demonstrate long-term self-custody of SHM tokens by holding them securely in their own wallets throughout a predefined period, underscoring the ethos of personal control over crypto assets.
Technology plays a crucial role in the Proof of Keys Airdrop program, as users need to utilize self-custodial wallets, such as MetaMask, to participate and track their SHM balances throughout the holding period. The airdropped SHM tokens are a community incentive, demonstrating the importance of technology in fostering decentralization and self-custody within the Shardeum community.
