eosDAC April airdrop - EOS holders relieved as exchange aligns for snapshot
UPbit (업비트), the massive Korean crypto exchange, with the second largest trade volume in EOS IO tokens worldwide at article release, have announced that they intend to distribute eosDAC tokens to EOS token holders hosted on the UPbit exchange.
The translated article reads as follows:
[Cruptocurrency] In preparation for eosDAC Airdrop EOS Snapshot
Hello from UPbit.
UPbit will carry out a snapshot in preparation of the eosDAC token airdrop that is being distributed to EOS holders.
For more information, please refer to the following.
What is eosDAC airdrop?
The eosDAC launch team have announced that they plan to distribute eosDAC tokens by airdrop for every EOS tokens at the time of the snapshot.
Please refer to the link for details regarding the airdrop payment ratio and schedule.
What is a snapshot?
A snapshot is a recording of the account holders balance of EOS tokens based on which eosDAC token airdrop amount is calculated.
The snapshot is scheduled to take place around 10:00 am on April 15, 2018, GMT +9. (Exact time may vary)
[Snapshot Schedule for UPbit ]
At the specified time as mentioned, UPbit account holder's EOS balance will be recorded.
Please note that the exact time the snapshot takes place may vary in lieu to changes of the eosDAC launch team's schedule.
** Please Note **
Snapshots are designed to protect your assets in the future and do not necessarily guarantee the eosDAC airdrop.
The suitability of eosDAC airdrop payment and deposit / withdrawal service will be reviewed upon confirming the stability and security of the blockchain and the correct functionality of its wallet accounts.
Additional snapshots instructions will be updated in the current bulletin.
More about eosDAC & the airdrop
It is the vision of eosDAC that EOS.IO block production should be open for everyone to contribute and benefit. To realise this vision, eosDAC will be an evolving Decentralised Autonomous Community (DAC) focused on becoming a leading EOS.IO Block Producer serving the EOS communities worldwide. In doing this, eosDAC will create the tools and smart contracts it needs to function. It will share these with the EOS communities to help other DACs thrive on the EOS.IO blockchains.
75% of eosDAC tokens (900,000,000) have been allocated for an airdrop to EOS token holders. All EOS token holders holding over 100 tokens* at the end of Day 300 of the EOS crowdsale (April 15th 2018, 01:00:00 UTC) will receive 1 eosDAC token for each EOS token that they hold, these tokens will be transferred directly into their Ethereum (ERC20 compatible) wallet. The actual airdrop will be made as soon as possible after this date and after we have run necessary tests and checks.
All Ethereum accounts that have 100 or more EOS tokens in them at the snapshot on the 15th April will automatically receive the airdrop. Any accounts with less than 100 tokens will not automatically receive the airdrop but will be eligible (until 15th May 2018) to apply through a method, which will not require any personally identifiable data, detailed closer to the date of the snapshot. Please do not contact us with your ethereum address at this time but please do sign up to our newsletter for updates.
While eosDAC will now include Crypto Exchange wallets in the airdrop, you will need to contact your exchange directly to check that they will distribute the eosDAC tokens to an eosDAC wallet under your control. If your exchange is not prepared to do this you would need to withdraw your EOS tokens to an exchange that does support the eosDAC airdrop, or better still to an ethereum address for which you have the private key. Most exchanges will support airdrop distributions as long as they receive enough customers requesting them to.
For more information see https://eosdac.io/