Binance has announced an airdrop of its new Wise Monkey (MONKY) token to holders of APE and FLOKI tokens. This airdrop is divided into two phases, with snapshots scheduled for November 29th, 2023 (for APE holders) and December 15th, 2024 (for FLOKI holders). Let’s break down the specifics of this significant event in the cryptocurrency world.
Airdrop Details:
The airdrop mechanics differ for APE and FLOKI holders:
- FLOKI Holders: For every FLOKI token held, users will receive 0.35 MONKY tokens. This means the amount of MONKY received is directly proportional to the number of FLOKI tokens held on the snapshot date.
- APE Holders: Each Binance account holding at least one APE token will receive a flat 804.838 MONKY tokens. The number of APE tokens held beyond one will not affect the amount of MONKY received. This is a unique approach, rewarding participation rather than the volume of holdings.
Token Allocation:
The MONKY team has allocated over 3 trillion MONKY tokens for this airdrop. This is a substantial amount, signifying the project’s ambition. The distribution is as follows:
- FLOKI Holders: 2.7 trillion MONKY tokens
- APE Holders: 800 billion MONKY tokens
Significance and Implications:
This airdrop marks the maiden launch of the MONKY token, making FLOKI and APE holders some of the first to gain access. It is a strategic move that likely aims to increase both brand recognition and utility for the MONKY token. The differing allocation methods are interesting, suggesting a dual strategy to attract and reward different types of investors. The substantial number of tokens distributed demonstrates confidence in the project and its long-term prospects. The timing of the airdrop, specifically the significant gap between the APE and FLOKI snapshots, could indicate separate development stages for integrating the token with both ecosystems.
What to do before the snapshot?
For users who wish to be eligible for this airdrop, it is crucial to ensure their APE and/or FLOKI tokens are held on Binance by the respective snapshot dates. It is also recommended to check the official Binance announcement for more details and updated information closer to the snapshot time to avoid missing the opportunity.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own thorough research before participating in any airdrop or investing in cryptocurrencies.
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