Evmos, a bridge project between Cosmos and Ethereum chains, is launching its token airdrop on February 15, 2022 according to Co-Founder, Federico Küllmer.
The blockchains that make up the Cosmos network are not compatible with Ethereum but Evmos is building the first such chain and in doing so will bring users over from the popular Ethereum to Cosmos.
“We wanted to reward Ethereum users because we want their adoption in the Cosmos ecosystem. We see Evmos as the gateway to Cosmos.”
– Co-Founder, Evmos
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SEE ALSO: EXPLAINER: How to Identify and Participate in Airdrops
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Eligibility
According to Cosmos announcement blog last year, the airdrop is looking to reward crypto users who have suffered from abnotmal high fees (rekt) which were the result of a variety of issues, including the regular market volatility.
“The Rektdrop eligibility requirements have been designed to reward active users of the Cosmos and Ethereum ecosystems, but also make up for the year of the rekt.”
– Evmos
However, the team says it will determine a threshold of fees for eligibility to the airdrop.
Here is a list with criteria for who is eligible:
- On Ethereum, users who have used a bunch of Ethereum applications will receive tokens. This includes dApps like Aave, Uniswap and Compound
- It will reward those who have swapped tokens using Metamask wallet
- The drop will reward those who have used bridges from Ethereum to other chains. This will include Polygon, Avalanche, and Wormhole
- It will send tokens to those who lost funds in a number of high-profile hacks and rug pulls
- On Cosmos, the airdrop will be applicable to 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
For users to claim portions of their tokens, they will required do 3 tasks on the blockchain each unlocking 25% of their tokens. According to reports, the tasks include:
- Staking
- Governance voting
- Sending an IBC transfer, which is the way tokens are transferred across the Cosmos network
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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RECOMMENDED READING: EXPLAINER: What Are Token Airdrops?
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