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SelfKey And KeyFi Getting listed
Two airdrops are better than one! SelfKey and KeyFi, together with Binance, are bringing you not one but TWO airdrops for KEY token hodlers on Binance.com.
From February to June this year, eligible hodlers* of KEY may be airdropped KEYFI tokens as well as additional KEY tokens, as detailed below.
Airdrop of KEYFI Tokens
Eligible KEY token hodlers will receive an airdrop of KEYFI proportionate to their KEY token balance on Binance.
Amount of airdrop: 1 KEYFI for every 22,500 KEY
Date of airdrop: 8 July 2023
Minimum hodling of KEY to receive airdrop: 88,000 KEY
Snapshots for calculation of airdrop amounts: according to the schedule below
Token Contract: https://etherscan.io/token/0xb8647e90c0645152fccf4d9abb6b59eb4aa99052
The amount of KEYFI you may be eligible to receive will be determined according to multiple snapshots of your Binance wallet balance.
The snapshots will be taken once per month at 8:00 AM HKT (UTC +8:00), beginning 28 February 2023 and ending 28 June 2023.
For this airdrop, eligible hodlers will receive one KEYFI token for every 22,500 KEY tokens held on average throughout the five snapshots. The average amount of tokens held throughout the five snapshots must be at least 88,000 KEY.
The dates and times of the snapshots are:Binance Airdrop – KEYFI Snapshot Schedule
Airdrop of Additional KEY Tokens
There’s more amazing news for KEY token hodlers!
The SelfKey Foundation will provide additional KEY tokens to KEY token hodlers in a second airdrop. The SelfKey Foundation is providing additional KEY tokens to be airdropped in order to distribute more of the community pool in a manner that is as fair and transparent as possible.
The distribution of additional KEY tokens will be as follows:
Amount of airdrop: 1 KEY for every 60 KEY
Date of airdrop: 18 July 2023
Minimum hodling of KEY to receive airdrop: 500,000 KEY
Snapshots for calculation of airdrop amounts: according to the schedule below
The amount of additional KEY you may be eligible to receive will be determined according to multiple snapshots of your Binance wallet balance.
The snapshots will be taken once per month at 8:00 AM HKT (UTC +8:00), beginning 8 March 2023 and ending 8 July 2023.
For this airdrop, eligible hodlers will receive one KEY token for every 60 KEY tokens held on average throughout the five snapshots. The average amount of tokens held throughout the five snapshots must be at least 500,000 KEY.
The dates and times of the snapshots and the airdrops are:
Binance airdrop – KEY Snapshot Schedule
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Here are some example scenario to better understand the airdrop distribution:
Example Scenario – KEYFI Airdrop
Scenario 1
Chad is a KEY hodler and Binance user and the KEY token balance he has on his Binance account during the snapshot periods were:
Phase Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
KEY Token Balance 80,000 90,000 100,000 90,000 90,000
With the above balances during each snapshot Chad has an average balance of 90,000 KEY tokens over the snapshot period, this makes him eligible for an airdrop of 4 KEYFI tokens.
Scenario 2
Karen is another Binance user, however the KEY token balances on her Binance account during each phase were:
Phase Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
KEY Token Balance 50,000 60,000 100,000 70,000 70,000
With the above balances, Karen will not be eligible for the airdrop as the average of the KEY token balance on her Binance account for all the 5 phases will only amount to 70,000 KEY tokens, which is less than the minimum required amount of 88,000 KEY tokens.
Example Scenario – KEY Airdrop
Scenario 1
Mary is a KEY hodler and Binance user and the KEY token balance she has on her Binance account during the snapshot periods were:
Phase Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
KEY Token Balance 800,000 900,000 1,000,000 900,000 900,000
With the above balances during each snapshot Mary is having an average balance of 900,000 KEY tokens over the snapshot period, this makes her eligible for an airdrop of 15,000 additional KEY tokens.
Scenario 2
Jack is another Binance user, however the KEY token balances on his Binance account during each phase were:
Phase Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
KEY Token Balance 200,000 300,000 600,000 500,000 400,000
With the above balances, Jack will not be eligible for the airdrop as the average of the KEY token balance on his Binance account for all the 5 phases will only amount to 400,000 KEY tokens, which is less than the minimum required amount of 500,000 KEY tokens.
also read Binance Airdrop: Claim 5 BUSD When you invite new users
About Eligibility and Calculations
For the purposes of airdrop calculations, only KEY tokens in your Binance Spot wallet will be considered. Further, snapshots will not include KEY tokens that are unavailable due to trade orders.
Make sure you hodl KEY in your Spot wallet (not open KEY trade orders) at the time of each snapshot.
Deposits and withdrawals of KEY will be suspended on Binance.com at the time of each snapshot. Trading of KEY will not be affected. Deposits and withdrawals will be reopened after the completion of each snapshot.
Please note that KEY tokens that are pending deposits or withdrawals at the time of the snapshot will not count towards your balance. Please ensure you leave sufficient time for deposits and withdrawals to complete prior to the snapshot.
Summary
The first airdrop will be for KEYFI and take place on July 8, 2023. The reward will consist of one KEYFI for every 22,500 KEY held in your Binance spot wallet. To qualify, you need to be holding a minimum of 88,000 KEY averaged over the five-month span. The snapshots will take place on the 28th of each month, starting with February and ending in June. The second airdrop, for KEY, will operate in a similar manner. Users will receive one KEY for every 60 KEYs they hold, with a minimum average balance of 500,000 KEY needed to qualify. This airdrop will commence on July 18, 2023, with the snapshots taken once a month from March 8 to July 8.
For example, suppose you are a KEY holder and want to participate in the KEY airdrop, starting with 1,000,000 KEY awarded on March 8 for the first Binance wallet snapshot. Over the next four subsequent months, your balance is 800,000, 900,000, 1,000,000, and 800,000 KEY per month when the snapshot initiates. Over the course of these five months, your average balance would be 900,000 KEY, meaning you are entitled to 15,000 new KEY in this airdrop. Remember, only KEY held in your spot wallet counts towards the airdrop, not KEY in an open trade or KEY that you are depositing or withdrawing from the exchange.
