For those who have participated in the airdrop rewards program during the early stages of Kalmar's launch - here are some updates from the team regarding the airdrop and how the $KALM tokens will be distributed.
The Kalmar team has discussed and agreed to the following with the investors of the project. The decisions made are based on the purpose of sustainability of the project, the interests and benefits of $KALM holders and users, as well as data collected from the history of other project's airdrops.
For those who are qualified for the airdrop - the distribution will be as follows:
- The airdrop will start distribution late June/early July 2021
- The airdrop will be divided into a total of 8 distributions of 37,500 KALM tokens each (0.375% of the entire supply), distribution taking place every 2 weeks, the total airdrop distribution therefore taking 4 months.
The team has chosen this distribution compared to a 100% unlock for a few reasons:
- Majority of times, a 100% unlock becomes a race to sell off tokens among the airdrop recipients. This only benefits the few who manage to pull of a quick/early sell
- A 100% unlock also can create additional fear-based sell offs, making the airdrop worth less during the unlock
These are the steps that team wants to take to help create a safer space in DeFi for every user as well as educate and increase the quality of users in the space. Pump and dumps are an expected risk every project will face, but the team believes that there are definitely ways to reduce the impact of users who prefer quick profits.