Binance will support the Mettalex (MTLX) airdrop program for Fetch.ai (FET) holders. Snapshots of FET balances will be performed weekly over a 50-day period. They will take snapshots of FET tokens held by Binance users at the following time:
MTLX Airdrop Program Schedule
MTLX Airdrop Details
- Duration: The MTLX Airdrop will be held over a period of 50 days — starting at 11:59 PM UTC on April 13, 2021, and ending at 11:59 PM UTC on June 1, 2021.
- Eligibility: Binance users who have held an average amount of 10,000 FET tokens in their Binance wallets at the time of the eight snapshots will be eligible for the Airdrop.
- Ratio:Eligible holders will receive one MTLX for every 10,000 FET tokens they have held on their Binance accounts. The average amount of tokens held throughout the eight snapshots must be at least 10,000 FET.
- Snapshot Times: Snapshots will be performed weekly. The dates and times of the snapshots are:
- Total Airdrop Value: The number of MTLX tokens to be distributed depends on the number of FET tokens held in Binance users’ accounts.
- Rewards Distribution: The MTLX tokens will become available in the users’ Binance accounts after the end of the Airdrop.
- Minimum FET amount: An average of 10,000 FET over eight account snapshots.
- MTLX Contract Address: 0x2e1E15C44Ffe4Df6a0cb7371CD00d5028e571d14
How do I join the MTLX airdrop?
All Binance users can join the MTLX airdrop by holding a minimum average number of 10,000 FET tokens in their FET wallets on Binance at the time of the eight snapshots from April 13, 2021, to June 1, 2021.
How do I get FET tokens in order to join the MTLX Airdrop?
You can buy FET tokens on Binance with BTC, BNB, or USDT.
How much FET should I have in my Binance account to be eligible for MTLX rewards?
Users must have at least 10,000 FET on average during the time of the eight snapshots to be eligible to receive MTLX tokens.
What if I move/sell some or all FET that I have on my Binance account during the MTLX airdrop?
If users decide to move or sell part or all of their FET during the Airdrop campaign the number of MTLX tokens they are eligible to receive will be proportionally modified. For example:
In the above case, the user both removes and adds FET tokens to their Binance balance. At the time of the second snapshot, the user has less than 10,000 FET on their account but then compensates by holding larger amounts during the next snapshots. The average amount of FET that they have held during the Airdrop is calculated in the following way:
- (100,000 + 5,000 + 150,000 + 50,000 + 100,000 + 500,000 + 250,000 + 650,000) / 8 = 225,625
- The number of MTLX tokens that they will receive is:
- 225,625 / 10,000 = 22.56 MTLX
Is this airdrop part of the FET staking program announced in the Mettalex Economics Overview blog post?
Yes, the MTLX tokens used in the Binance Airdrop are part of the third FET staking program announced by Fetch.ai and Mettalex.
- FET tokens that are pending deposit or withdrawal at the time of each snapshot will not count towards your FET balances. Please ensure you leave sufficient time for deposits and withdrawals to complete prior to the snapshot.
- FET in pending orders will not count towards your FET balances.
- In order to be eligible to receive the MTLX airdrop, the average amount of FET held throughout the eight snapshots must be above 10,000 FET (excluding those in pending trade orders).
- The snapshots will include FET balances in Spot wallets, Margin accounts and Savings accounts. Undistributed FET interest payments will not be included.
- FET borrowed from Margin, or FET transferred to Spot wallets from these accounts, will not count towards the airdrop threshold.
- For the trading and listing of MTLX on Binance, MTLX will go through the same strict listing review process as Binance does for any other coin/token. Supporting this airdrop does not guarantee the listing of MTLX. Binance does not guarantee any listings as per its internal policy.
- Binance will distribute the MTLX tokens after the project has completed the MTLX token distribution to Binance. We will post a further announcement once the distribution to Binance users is completed.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make the best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!Binance Team2021-04-09
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