The maximum supply of Token FUEL is 10 billion tokens, of which the project has allocated 1 billion tokens for the early user airdrop.
Fuel announced an airdrop of 1 billion tokens to 200,000 eligible wallets. Image: Fuel
Fuel, a layer-2 on Ethereum, announced an airdrop of 10% of the total FUEL token supply to more than 200,000 eligible wallets. The airdrop program will open for claiming from December 19, 2024 and will last for 1 month.
This is just the beginning.
— Fuel (@fuel_network) December 17, 2024
In total, 20% of FUEL supply will go to the Fuel community:
• 10% in total for the Genesis Drop.
• 5% for community expansion efforts split between partnership platforms.
• 5% for yet-to-be-announced incentives, programs, campaigns and…
In the first airdrop, also known as the Genesis Drop, Fuel will distribute 1 billion FUEL to the community through the following criteria:
Phase 1 Pre-Depositors - 287 million FUEL: for early depositors;
Testnet Users - 64.2 million FUEL: for testnet participants;
NFT Connoisseurs - 125 million FUEL: for NFT owners;
Fuel Bridgoors - 200 million FUEL: for users of the Fuel bridge;
Ecosystem Glass Eaters - 138.8 million FUEL: for contributors to the ecosystem;
Open Source Community - 175 million FUEL: for the open-source community;
Fuelet Magisters - 10 million FUEL: for outstanding contributors.
For more details, please read this article.
As announced in the tokenomics, Fuel has allocated 20% of the FUEL supply to reward the community. In addition to the 10% for the Genesis Drop, the project will use 5% to expand the community, distributed among partner platforms, and the remaining 5% for programs, campaigns, and activities to drive the ecosystem.
If you miss phase 1, users still have the opportunity to accumulate points in Fuel phase 2. These points will later be converted back into FUEL tokens.
Fuel Network, is a layer-2 solution built on Ethereum, notable for its advantages in improving performance and saving costs for users. The project promotes itself as the fastest and cheapest Ethereum rollup, with the ability to process up to 600 transactions per second (TPS), meeting the growing transaction demand on the Ethereum network. Transaction fees on this network are around $0.0002.
Fuel is also a fully Ethereum-compatible network, which can easily integrate with existing applications and smart contracts on Ethereum without encountering issues with latency or high costs.
Currently, activity on the Fuel network is quite active, with 154,000 transactions processed in the last 24 hours and 63 decentralized applications (dApps) in operation. Fuel Labs, the organization behind the project, successfully raised $80 million in 2022.
With the capabilities mentioned above, Fuel is also an ideal solution for projects that need a fast, low-cost, and easy-to-develop platform.
Coinciding with Fuel, the crypto community is also "buzzing" with the event of the launch of the PENGU token and the airdrop of the famous Pudgy Penguins NFT collection. Many users have unexpectedly received a massive airdrop last night. However, some people have also lost $10,000 due to being "too quick" before the PENGU listing!
Compiled by Coin68
