The InvArch Network shared huge updates about their anticipated $VARCH airdrop. The latest updates ensure increased token distribution, changes of the vesting schedule and a final date for the airdrop.
InvArch Increased Token Allocation.
InvArch is announcing a total of 50 million $VARCH tokens to be issued through their airdrop ( 20% more to that volume originally being estimated for distribution).
These are to be equally split between the two main tracks of the Polkadot ecosystem: 1) relay staking and 2) parachain activities, with each track standing to receive a chunky 25 million $VARCH tokens.
VARCH Token No Vesting Period
Breaking from traditional airdrop protocols, InvArch decided to forgo having a vesting period for the $VARCH tokens distributed in this airdrop. Usually, airdropped tokens do come with some vesting schedule going for years, but InvArch is setting a new precedent in this respect. All tokens from this airdrop will be fully unlocked for the user to freely use them either by staking or trading with friends without receiving restrictions upon receipt. The decision underscores the commitment of InvArch to support instant engagement and utility within the network.
InvArch Airdrop Distribution Schedule and Eligibility
This will be designed such that it places priority over active staking $DOT on the relay during the distribution process. In an effort to bring more fairness into the distribution, the maximum cap for linear distribution to relay stakers has been brought down from 100,000 $DOT to 50,000 $DOT.
The adjustments are meant to improve the distribution experience for a much larger cohort of participants who may not hold very large quantities of $DOT.
Tomorrow, the airdrop will be the first drop for relayers participating in staking. Starting this Monday, the issue will also be distributed to those taking part in the qualified activity of parachain and decentralized applications (dApps).
By this coming Tuesday, InvArch will have completed the distribution to the estimated 50k-100k accounts across the Polkadot ecosystem.
$VARCH AIRDROP UPDATE
The $VARCH airdrop will begin being distributed tomorrow – but first, there are some exciting updates to share covering the airdrop amount, vesting, and distribution schedule.
Dive in below to learn more!
— InvArch | Chain Abstraction (@InvArchNetwork) April 12, 2024
Caution Against Airdrop Scams
With the appeal of the airdrop, which has significant financial implications, InvArch has also issued a word of caution against scams. The caution comes in advisories addressed to the recipients, to only deal with official communication, and not to click on random links or deal with unofficial accounts.
InvArch Airdrop Broader Implications
Apart from the airdrop, the InvArch network offers support in sending, receiving, and checking the balances of all supported chains at once. It takes advantage of Cross-Consensus Messaging (XCM) and offers Multichain Accounts capabilities that make it one of the leading players in the blockchain space. It deploys the token using the Saturn Multisig protocol and provides more advanced governance models, thus allowing users to interact with other chains in a truly frictionless manner. Summing up, the airdrop of $VARCH tokens by the InvArch Network is not only a serious milestone because the given allocation is quite generous but also for driving greater adoption and innovation potential within the Polkadot network. The effects have begun to flow, with these wider governance, utility, and cross-chain functionality effects now awaited with bated breath within the community as the tokens start to circulate.
