On January 17, two airdrops from major cryptoprojects became publicly known at once. The SoSoValue platform and the Orbiter blockchain bridge will release and distribute their tokens. Let's break it down in more detail.
SoSoValue
SoSoValue, a cryptocurrency market data provider best known as an aggregator of information on cryptocurrency exchange traded fund (ETF) shares, has announced that it is giving away 49 million SOSO tokens. The project will release its token next week on the Ethereum blockchain.
In the first phase of token distribution, participants will be awarded 4.9% of the total SOSO of 1 billion. 30% of SOSO will be distributed to ecosystem participants, 33% will go to developers, 17% will go to the project fund, 16.5% will go to investors and another 3.5% to partners.
The first stage of token distribution will take place from January 25 to February 25. 4 million SOSO will be distributed via Bybit's Launchpool platform. 15 million SOSO will be given to token miners, and another 30 million tokens will be distributed to those who supported the project through staking.
The tokens that will be distributed on Bybit are allocated from the 17% that is due to the fund, while miners and stakers will receive coins as part of the distribution of funds to users in the ecosystem.
The figures and balance data of users claiming to distribute tokens (take a snapshot or snapshot) are recorded as of January 17. They will be given out 15 million SOSOs and they will not have a set vesting period (temporary lock-in), transactions with these tokens can be conducted immediately after the launch.
The 30 million SOSO for stakers will be distributed within 31 days of the token launch. This distribution will be tied to other SoSoValue index tokens and participants will need to purchase them, earn “user experience points” (EXP) and meet other airdrop criteria.
As for the giveaways of the remaining 255 million tokens allocated to the ecosystem, details will be announced at a later date.
Orbiter
Interconnect protocol Orbiter Finance has unveiled its own token, OBT, which will be used in management and hosted staking. The Airdrop will go live on January 20.
Orbiter's blockchain bridge was launched three years ago. According to the project, it has since attracted 4.3 million users and processed $28 billion worth of transactions.
OBT is an ERC-20 standard token and will run on the Ethereum network and the Layer 2 (L2) Arbitrum and Base blockchains. Its total issuance will be 10 billion.
Initially, 2.8 billion (28%) OVTs will be issued. Their management use is scheduled to be launched in February, with staking scheduled to start in the second quarter of 2025.
About 40% of the total OBT is allocated to the community, with another 20% reserved for the ecosystem and development initiatives, of which 2.5% will be unlocked at the TGE (Token Generation Event), the official token launch. In addition, 15% is allocated to the Orbiter team and 10% to investors.
The remaining 15% will go to the Orbiter Foundation to realize the “all blockchains - one hub” vision, with 3.5% unlocked at TGE and the rest distributed monthly for 23 months.
Of the 40% funds allocated to the community, 22% will be distributed as an initial reward for Orbiter users, and then 3% per month for six months.
To be eligible for airdrop, participants must have been using the Orbiter protocol for at least two months since December 2021 and own at least 40 OPoints by the time their balance shot on January 16. OPoints are points that are used to determine the number of tokens that Airdrop recipients can claim.
NFT ecosystem owners can also claim tokens. A snapshot of their balances will be taken on January 19.
From January 20, based on OPoints ownership, each user will be able to get a maximum of 5.6k OBT each, while NFT Ace owners will be able to get a maximum of 17k OBT per NFT. Starting January 23, NFT Expert owners will be able to get 2,300 OBT per NFT.
All other Airdrop participants (Discord moderators and Orbiter event participants) will be able to get OBT tokens on January 25.