The Grass decentralized network, known for rewarding users for sharing their unused internet bandwidth, has announced the upcoming GRASS Airdrop One. Scheduled for October 28, 2024, at 13:30 UTC, this airdrop marks a significant milestone in the creation of the first user-owned map of the Internet.
The official announcement highlights the importance of GRASS Airdrop One in rewarding early supporters and contributors to the Grass network. Eligibility for the airdrop requires users to have accumulated 500+ Grass Points during any epoch and linked their wallet to the Grass dashboard by October 14, 2024, at 20:00 UTC.
During Airdrop One, 100,000,000 GRASS tokens (10% of the total supply) will be allocated to early users and community members. This distribution includes 9% for users who earned Grass Points during Stage 1 (the Network Snapshot), 0.5% for GigaBuds NFT holders, and 0.5% for users who installed the Desktop Node or the Saga Application.
Furthermore, the mechanism of rewards has been explained, with each eligible user receiving rewards based on their Grass Points. The distribution method and timing will vary based on the user’s jurisdiction. In total, 4,996,015 GRASS tokens will be evenly distributed among all GigaBuds NFT holders at the snapshot block, excluding NFTs listed for sale at that time. Eligible wallets will receive 515 GRASS tokens for every GigaBud NFT they own.
Intended Use of GRASS Tokens:
Token Buybacks & Network Fees
Staking for network infrastructure security (Note: locked tokens cannot be staked)
Rewards for network contributions
Governance rights for participating in key decisions regarding the Grass network
Participants are reminded that claims for the GRASS airdrop are not yet active. The Grass Foundation emphasizes caution to avoid scams and states that claims will only be processed through the official website, grassfoundation.io.
