ZetaChain to distribute 10 million ZETA tokens in the first round of XP airdrop

ZetaChain XP’s first airdrop is on the horizon.
All ecosystem applications can submit ZETA rewards before July 1st, 00:00 (UTC) through the RFP, marking the beginning of airdrop rewards distribution for applications. The 90-day XP launch event has concluded. The mainnet rewards for the first round are primarily based on the initial XP user snapshot taken on May 1, 2024. To support the continuous growth of the ZetaChain network, this airdrop event puts the power in the hands of ZetaChain ecosystem applications to better determine the ZETA rewards users can receive based on XP data layer. This approach ensures that airdrop rewards are distributed to the majority of core users and XP activities, allowing the entire ecosystem to participate.
For any inquiries, the AMA on June 18th will provide a great opportunity for questions.
User Growth Pool distributes 80 million ZETA rewards
Since the launch of ZetaChain 1.0, over 80 million ZETA from the User Growth Pool (UGP) has been distributed to users to attract and reward users on the ZetaChain network. This includes distributing 31.5 million ZETA to ZetaLabs testnet users when ZetaChain mainnet testing was rolled out, as well as 50 million ZETA for various marketing activities including OKX Jumpstart, OKX Cryptopedia, TokenPocket, Bitget Task 2 Earn wallet activities, and Galxe Airdrop on social channels.
XP Airdrop Round 1: 10 million ZETA
To incentivize effective usage and growth of the network, ZetaChain has announced that 10 million ZETA rewards will be provided from the UGP in the first round of XP Airdrop.
ZetaChain Ecosystem Applications Request for Proposals
This airdrop event invites all applications on ZetaChain to submit proposals analyzing the XP data layer to effectively distribute ZETA rewards to XP users. Applications on ZetaChain must submit their proposals (RFP) by July 1, 2024, 00:00 (UTC). Rewards distribution can start as early as July 1, 2024, following the final review and airdrop allocation announcement. At that time, project teams can determine the timeline for their airdrop distribution.
In general, based on the detailed criteria published below, approximately 419,000 users are eligible for rewards in the initial snapshot. These users had at least 200,000 XP in the first phase and demonstrated high loyalty to the program. They completed most activities weekly and almost all eligible activities for XP airdrop rewards, meeting a high threshold. While airdrop rewards are concentrated on these users, they may also include more users and data (see guidelines below).
In addition to meeting these basic criteria, applications will use XP data to determine other user levels and rewards according to the guidelines. Application submissions include project information, ZETA allocation requests, traction data for the application, proposed airdrop distribution levels, and reasons.
Projects must submit by July 1, 2024, 00:00 (UTC) here to be eligible.
Eligibility
Projects eligible to submit proposals have deployed active contracts on the ZetaChain mainnet testnet and have active users. All submissions will require verification of application deployment/ownership. Submissions are not limited to applications with active activities in the XP program; any project with real users and utility can submit. Before allocating and distributing rewards, the UGP committee will conduct a thorough due diligence on all eligible applications.
Guidelines
The XP Airdrop program allows projects to design their token distribution plan to best reward their users. When creating a proposal, projects must adhere to the following requirements and guidelines:
– 95% or more of the airdrop share must be allocated to users.
– The development team can retain up to 5% of the airdrop share for covering operating costs or supporting future user growth plans.
– The majority of users receiving airdrop rewards must have XP ≥ 200,000 in the first phase XP snapshot dataset. Applications can use this dataset in conjunction with other on-chain data to determine appropriate rewards for users. The criteria and levels of airdrop distribution designed by the application itself are the filtering criteria for final user airdrop reward allocation.
– For airdrop distribution levels, applications must follow the structure: applications can set up to 15 reward distribution levels, with a minimum of 5 levels. Of these, up to 3 levels can be based on non-XP snapshot data – such as social verification, off-chain data calculations, or post-XP snapshot data. The reasons for reward levels must be disclosed or verifiable. All these requirements aim to ensure that rewards are not concentrated in a few centralized parties or addresses.
– Applications can set up reward mechanisms such as first-come, first-served, proportional distribution based on the snapshot, or other methods. Applications should engage with their community and users to determine the most effective reward method.
– XP data graph data can be used in airdrop distribution, including users completing X tasks at least Y times, users owning more than XXX XP, and users participating for at least X weeks.
– Potential on-chain standards that applications can use in their airdrop distribution may include frequency, overall completion, specific task completion, gas expenditures, and overall ranking/rating/XP.
– Applications are encouraged to introduce their own rewards, independent of ZETA airdrop. In addition to the ZETA airdrop, applications can use a portion of their specific rewards to build a closer, more special connection between users and applications.
– Witch analysis can be used to better reward real users. Any lists or groups used to filter these witch accounts must be publicly disclosed for reasons to be publicly verifiable.
Process
Submit proposals, verify deployment addresses, and provide additional information here before July 1, 2024, 00:00 (UTC). Applications can publicly release this information on X and @zetablockchain to increase public visibility and collect feedback before finalizing airdrop allocation.
Upon receiving submissions, the UGP committee will contact eligible applications to determine if the application design meets the final airdrop distribution standards outlined in the guidelines above.
After determining the percentage and levels of airdrop distribution, allocations will be authorized from the UGP to applications. Any witch analysis or filtering must be publicly disclosed before distribution.
After completing all allocation reviews, applications must announce their reward distribution and reasons. Applications should publish data through the claim check interface or complete data dump.
Following the announcement of reward distribution, applications can begin distributing user rewards. Failure to distribute rewards correctly, securely, and according to publicly released data will result in applications being blacklisted from any future reward allocations. Applications can choose to work with the distribution platform TokenTable for users to claim their airdrop.
All distributions must be completed by October 1, 2024. Any remaining undistributed or unallocated tokens will be transferred to other XP-focused programs.
Evolution of XP Data Graph
Participation in the XP loyalty program allows users to earn rewards. While the UGP forms the basis of this specific program’s rewards, all applications can access the open XP data layer to attract and reward users. A new ranking system is actively being developed, involving not just XP value but other dimensions such as recent activities and more.
ZetaChain looks forward to feedback from XP activity participants and more community members to shape the future distribution of rewards, promoting a more sustainable and meaningful network usage.
Conclusion
XP is the core data and loyalty system for mutual growth of applications and users. The XP Airdrop Round 1 model is the first reward iteration of the XP layer. This program reflects ZetaChain’s commitment to building a thriving, interconnected community and continuously growing ecosystem. Provide us with feedback during this program, and ZetaChain will continue to improve.
About ZetaChain
ZetaChain is a universal L1 blockchain serving as the foundational layer for the decentralized internet, providing a platform for global access, simplicity, and practicality for any blockchain. The full-chain smart contracts on the general EVM of ZetaChain are built specifically for the universal chain abstraction of the entire crypto ecosystem. ZetaChain can connect to any blockchain, from Ethereum and Cosmos to Bitcoin, achieving unified liquidity, user experience, and data, all on one platform. Universal applications on ZetaChain are forward-looking and fully integrated and compatible with existing and new chains. With the proposed universal proof of stake function, ZetaChain supports staking assets like native Bitcoin and Ethereum for rewards, providing unlimited scalability for economic security.
Interested readers can follow @zetablockchain on Twitter and join Discord and Telegram for discussions. Application builders based on ZetaChain can also contact [email protected].