TechFlow reports that the Movement Network Foundation has announced the MoveDrop airdrop initiative, designed to reward early users and community members of Movement. The MoveDrop will distribute 1,000,000,000 $MOVE tokens (10% of the total supply) to the community. Eligible participants include those who took part in the Road to Parthenon, winners of the Battle of Olympus, Gmovers, designated communities, and builders on the Movement testnet.
Users can visit the MoveDrop website to register before the deadline on December 2, 2024, at 2:00 PM UTC. After TGE (Token Generation Event), users can check their eligibility and claim their airdrop. Failure to register by the deadline will result in the loss of MoveDrop claiming rights.
Users may choose to claim $MOVE on the Ethereum mainnet, or wait until the Movement Network mainnet launches (coming soon) to claim, which will yield a 1.25x rewards multiplier. The Movement Network Foundation also stated that additional $MOVE tokens will be distributed in future campaigns.
Previous report, the Movement Network Foundation unveiled the economic model for the $MOVE token, with a total supply of 10 billion and an initial circulating supply of approximately 22%. Of the total supply, 60% will be allocated to the community, including ecosystem and community incentives (40%), initial claims (10%), and the foundation (10%). The remaining tokens are allocated to early contributors (17.5%) and early investors (22.5%).
