MilkyWay, Initia Airdrop Rewards 5% of Token Supply to Top Holders
1min read MilkyWay, a liquidity staking protocol on the Celestia blockchain, has announced that the top 2000 holders of its native token, milkTIA, will receive an airdrop of Initia tokens. This airdrop is part of a broader initiative by Initia to distribute 50,000,000 INIT tokens, which represents 5% of the total network supply, to various stakeholders within its ecosystem.
The airdrop is designed to reward network testers, advocates, and users of the technology. The distribution breakdown includes 89.46% for Initia Testnet participants, 4.50% for Interwoven Stack Partners, and 6.04% for Social Contributors. Users who are eligible for the airdrop can check their eligibility and claim their allocation within 30 days after the Initia mainnet launch. It is important to note that the initial set of all Initia contributors are not eligible for the airdrop, and their wallets and social accounts have been excluded from the eligibility list.
Ask Aime: What will be the impact of Initia's airdrop announcement on the Celestia blockchain?
This move by MilkyWay and Initia underscores the growing trend of rewarding early adopters and contributors in the blockchain ecosystem. By distributing tokens to those who have actively participated in the network's development and testing, Initia aims to foster a sense of community and incentivize further engagement. The airdrop also serves as a strategic move to increase the adoption and usage of the Initia network, as recipients are likely to explore and utilize the platform's features.
For MilkyWay, this airdrop represents a significant milestone in its journey to become a leading liquidity staking protocol. By aligning itself with Initia, MilkyWay is positioning itself as a key player in the broader blockchain ecosystem. The airdrop not only rewards its top holders but also creates a pathway for further collaboration and integration between the two protocols. This strategic partnership is expected to drive innovation and growth within the Celestia blockchain ecosystem, benefiting both MilkyWay and Initia in the long run.
