ZetaChain Announces First XP Airdrops, 10 Million ZETA Rewards Up for Grabs

• The upcoming ZetaChain’s XP airdrops would witness up to 10 million ZETA distributed from the User Growth Pool (UGP) to users in Round 1. 

• ZetaChain apps are set to play a key role in this campaign with the power to determine the amount of reward for their users. 

The first universal Layer 1 blockchain ZetaChain has “Requested for Proposals” (RFP) from ZetaChain apps pending the upcoming round 1 of the XP Airdrop. According to the announcement, this would focus on the first snapshot of XP users taken on May 1, 2024, with the ZetaChain apps mandated to determine the appropriate reward for their users based on the XP data layer.

Per our research, this approach was chosen to ensure that the wide variety of key users and XP activities benefit from the distribution through the participation of the entire ecosystem. 

80 Million Zeta Distributed

With the RFP set to be submitted by July 1, exactly at 00:00 UTC, the team has also disclosed that more than 80,000,000 ZETA has been distributed from the User Growth Pool (UGP) to users. Out of this, 31,500,000 ZETA was distributed to ZetaLabs testnet users during the launch of the ZetaChain Mainnet Beta. Also, 50,000,000 ZETA was distributed for various marketing initiatives, wallet campaigns, and social channels. Some of these campaigns include the launch pool marketing for OKX Jumpstart, OKX Cryptopedia, TokenPocket, Bitget Task2Earn, etc. 

With the upcoming campaign, up to 10 million ZETA would be rewarded from the UGP for round 1. Interestingly, 419k users are so far the primary cohort eligible in the first snapshot. As stated in the official announcement, this batch has at least 200k XP and demonstrated a rare and high level of loyalty to the program. 

The first ZetaChain XP airdrop is coming! Any app can submit a proposal for the 10,000,000 ZETA rewards pool by July 1st at 00:00 UTC, marking the start of the first reward distributions by apps. Learn more about the RFP process in our full announcement: https://t.co/vxRYwbVFZ0— ZetaChain (@zetablockchain) June 13, 2024

General Guidelines to Submit Proposal for the XP Airdrop Program

Projects that would be submitting a proposal are required to pay attention to the published guidelines which demand that at least 95% of the allocation must be allocated to users. In addition to that, up to 5% of the allocation must be reserved for the developer team. With all of these put into consideration, the majority of the reward recipients must have at least 200k XP in the first XP snapshot dataset. For tiers of reward allocation, apps have been asked to define up to 15 tiers and a minimum of five. Out of this, up to three tiers must be based on non-XP snapshot data.

Our review of the reward program shows that apps have the mandate to determine the reward mechanism such as first-come-first-serve, etc. Apps may also consider some potential on-chain criteria in their distributions, and these include frequency, specific task completion, etc. They can equally introduce their reward differently from the ZetaChain’s allocation. On top of that, they could use Sybil analysis to filter rewards for real users. 

According to ZetaChain, competing in the XP loyalty program would enable users to access rewards with all apps allowed to have access to the open XP data layer. 

Competing in the XP loyalty program gives users access to rewards. While the UGP is the foundation of rewards for this specific program, all apps have access to the open XP data layer to determine additional ways to engage and reward their users. A novel ranking system is actively under development, which involves not only absolute XP amounts but also other dimensions such as recent activity and consistency.

At press time, XP was trading at $0.00000616 after declining by 10% in the last 24 hours.