$KARMA Council Launches Largest Fungible Token Airdrop in Bitcoin History
REDMOND, WASHINGTON 4 March 2024 – $KARMA made waves in the cryptocurrency world with the release of the largest fungible token airdrop in Bitcoin history. Over 61,000 wallets were the lucky recipients of this exciting event on February 27. The airdrop was orchestrated by the seven-member $KARMA Council, a group that brought together 10 leading Ordinals communities to support $KARMA’s mission.
The goal of the $KARMA Council’s airdrop was to build a sense of community among early Ordinals participants and strengthen the growing ecosystem. By collaborating with other communities, the Council hopes to achieve their vision for the $KARMA community.
Strength in Numbers: Growing the Ordinals Ecosystem
The $KARMA token was launched by a diverse council, including representatives from the OnChainMonkey (OCM) community and Tap Protocol. These individuals bring a wealth of technical expertise and community-building skills to the table. By fostering relationships with other communities, the $KARMA Council aims to expand the $KARMA and Ordinals ecosystems.
A significant number of tokens have been set aside for future ‘Karmunity’ Incentives, which will support partnerships and initiatives to drive growth within the community.
The Ordinals Community Airdrop
The $KARMA Council distributed nearly 50 million $KARMA tokens to communities within the Ordinals ecosystem. The selection process for this airdrop was based on market capitalization, with the top 9 collections at the time of the snapshot receiving tokens.
Communities such as Bitmap, Bitcoin Punks, and Nodemonkes were among the recipients of the $KARMA tokens in the Community Airdrop.
Rewarding the OCM Community
Holders of OnChainMonkey NFTs were also eligible to receive $KARMA tokens, with a total of 560 million tokens allocated to this community. The airdrop process was made efficient through the use of the TAP Protocol, which allowed for a streamlined distribution of tokens to a large number of addresses.
Jason Fang, founder of Sora Ventures, highlighted the importance of the TAP Protocol in enabling cost-effective and scalable token distributions on the Bitcoin network.
Technical Milestones for Airdrops
The $KARMA Council utilized the TAP Protocol’s ‘Tapping’ feature to complete the airdrop in a cost-effective and efficient manner. This process reduced the number of transactions required and set a precedent for future community inclusions in airdrops on Bitcoin.
The TAP Protocol’s token authority feature further streamlined the airdrop process, making it attractive for individual transfers as well.
About $KARMA
$KARMA is more than just a token; it represents a commitment to growth, community, and innovation within the Ordinals ecosystem. With a focus on collaboration and empowerment, $KARMA is poised to redefine engagement and opportunity for the entire community.
About OnChainMonkey
OnChainMonkey, created by Metagood, is a pioneering NFT collection that has made history by being inscribed on both Ethereum and Bitcoin. The community aims to create value for token holders and promote positive real-world impact through Web 3 technology.
The $KARMA Council’s airdrop marks a significant milestone in the evolution of the Ordinals ecosystem, showcasing the power of collaboration and community-building in the world of cryptocurrency.
