You’ve been asking when the big ICY airdrop is coming.
Now we know.
The ICON Foundation announced Monday:
“As part of the initial growth strategy, adoption, and decentralization of the ICE Network we will be airdropping $ICY equivalent to 1:1 of the total $ICX supply to $ICX stakeholders during the last week of December. These $ICY will be claimable at a later date through a dedicated user interface that will be shared when we get closer to ICE mainnet launch.”
“At least” 20% of the airdropped tokens will be immediately available, while the remainder will be vested and unlocked over three years. If you use an ICON DeFi platform, expect a modest boost in the percentage available at launch.
The three-year vesting period is to “incentivize the longer-term health of the network and the alignment of its stakeholders.”
The ICON Foundation also posted handy instructions on how to participate in the airdrop. We encourage you to read the full instructions in the Medium post, but to summarize:
- Have ICX or sICX in a self-custody wallet, have ICX staked and delegated in the ICON network or have sICX at Omm or Balanced at the time of the snapshot.
- Wait for the snapshot window.
- Wait for claim instructions.
The tokens will become available upon the launch of ICE Network, though the ICON Foundation’s latest announcement did not say when that would be. The Foundation added that it would provide more details on ICY’s token economics shortly.
The ICE Network will be the EVM (Ethereum Virtual Machine) compatible blockchain for the ICON community. Given how Ethereum has the most DApps of any blockchain network on the planet, anything that brings comparability with Ethereum to ICON is a major development.
