The $XFT Airdrop

NFTempo February 15, 2023



The $XFT Airdrop  



Overview


We’re thrilled to announce our first airdrop of $XFT to the XRP community. 


We started NFTempo with the mission of democratising music for all and to expand XRPs utility. As a result, the NFTempo team has decided to personally reward the community and to start 2023 by upping the tempo!


Information on $XFTs tokenomics can be found on our website and lightpaper. Further information on how/where to buy $XFT can be found in our $XFT article.



Table of contents

  1. Airdrop Details
  2. Who’s Eligible
  3. Wen Snapshot, Wen Distribution? 
  4. Pools Ratio
  5. Airdrop Distribution 
  6. The TL;DR



1 - Airdrop Details 

We will be airdropping 75% of the NFTempo expansion vault (15% of $XFTs circulating supply), equating to 37,500,000 $XFT. The airdrop distribution will be 50/50 between $XRP holders and $XFT holders. The airdrop will be based on the user’s total holdings of $XRP and/or $XFT.


2 - Who’s eligible?

Users who hold $XRP and set a trustline to $XFT and/or hold $XFT will be eligible at the time of the snapshot to receive the airdrop. Wallets belonging to exchanges, Ripple or other non personal wallets will be excluded from their airdrop. 


In our efforts to encourage the adoption of self custody wallets, we will only be airdropping to users who hold $XRP and/or $XFT in their own self custody wallet (I.E Ledgers, Xumm etc…) 


3 - Wen Snapshot, Wen Distribution? 

The snapshot will take place on the 6th of March 2023 at 20:00 GMT. We will snapshot the number of $XFT trustlines and the $XRP $XFT held. Following the snapshot, users will receive their tokens on the 20th of March at 20:00 GMT. 


4 - Pools Ratio

We’re airdropping 37,500,000 tokens or 15% of $XFTs fixed total supply. This will be split into two pools:

  • 18,750,000 $XFT for $XRP holders
  • 18,750,000 $XFT for $XFT holders

Users who hold both $XRP and $XFT will be airdropped tokens from both of these pools.


5 - Airdrop distribution

The amount of $XFT users will receive will be based on the total amount of $XRP and/or $XFT held. 


For example, let’s assume the final snapshot distribution figures for the $XRP and $XFT are as follows:


$XRP: 250,000,000

$XFT: 25,000,000


The total received by $XRP holders will be 18,750,000 ÷ 250,000,000 = 0.075 $XFT per $XRP held. 


The total received by $XFT holders will be 18,750,000 ÷ 25,000,000 = 0.75 $XFT per $XFT held.


Within this example, let's take Brad, David and Monica. 


Brad holds:

$XRP: 10,000

$XFT: 0 

Brad will receive 0.075 $XFT per $XRP held = 750 $XFT 

Since Brad doest hold $XFT, his rewards will come solely from the $XRP pool.


David holds:

$XRP: 5,000

$XFT: 50,000

David will receive 0.075 $XFT per $XRP held = 375 $XFT 

David will receive 0.75 $XFT per $XFT held = 37,500 $XFT 


Monica holds:

$XRP: 100

$XFT: 1,000

Monica will receive 0.075 $XFT per $XRP held = 7.5 $XFT 

Monica will receive 0.75 $XFT per $XFT held = 750 $XFT 


As soon as the snapshot takes place and we have verified all snapshot info, we will publish the final airdrop ratios. 


6 - The TL;DR


To participate in the airdrop, simply hold $XRP and set a trustline for $XFT - or hold $XFT. We will airdrop 37,500,000 $XFT with 18,750,000 going to XRP holders and 18,750,000 going to $XFT holders.


The snapshot will take place on the 6th of March 2023 at 20:00 GMT. 


Trustlines can be set via the NFTempo.io website, or manually with the following. 


- Issuer Address: rGpnoqYLzWytxwQhhz715nRbqyCHM7zhxt

- Token currency code: XFT

- Limit: 250000000



NFTempo

Posted by NFTempo