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NEO Blockchain: We Got Fly-by Airdropped, Enter Master Contract Token
Master Contract Token, a new NEO-based token has airdropped 1,000 FREE MCT for every NEP-5 token traded within any NEO wallet address before May 8th, 2018.
Over 404,000 addresses received at least 1,000 MCT.
Before we go deeper into the Master Contract Token Air Drop specifics, below is a bit of a primer on what Air Drops are:
Anybody who has been around cryptocurrency for at least a month has more than likely seen the following phrase: Air Drop.
An Air Drop is essentially a method used by blockchain-based projects to stimulate adoption, usually in the earliest stages. All cryptocurrency wallet addresses are publicly available (For non-privacy focuses networks, at least) which makes it easier for a project to find it’s target market. The cost difference between generating a total supply of 1,000,000 and 100,000,000 tokens (or more) is zero.
This tactic can be closely compared to when a company does a giveaway sponsorship at a Major League Baseball game in which fans who attend the game receive a free promotional item, usually with the company logo on the product. For example, it might make more sense for a Baseball Bat company to sponsor an MLB game with a fan giveaway because their customers, people who play baseball, tend to be entertained by baseball, increasing the likelihood they will engage with their target audience (customer).
The level of engagement is much deeper when receiving a free item as opposed to scrolling across a website and seeing a banner ad.
Fly-by Air Drop is my goofy way of saying — we silently received some free Master Contract Tokens. Anybody who traded ANY NEP-5 tokens had no clue they would receive one of NEO Blockchain’s newest NEP-5 tokens in their account, for free.
Per the Master Contract Token Github page, 567,442,000 MCT were airdropped to 404,453 NEO wallet addresses. The goal of this project is to solve a problem within the NEO ecosystem — the developers did not see a need for an ICO and, instead, found a more synergistic approach to gaining adoption.
For example, if you had any amount of ONT, SWH, and TNC in your wallet before May 8th, you would have received 3,000 MCT.
The Github page goes on to say this method was chosen in order to put MCT into the hands of the most active users within the NEO ecosystem. I must admit, this style of airdrop is different than I have seen in the past. Please comment below if you have heard of other Air Drops which have used a similar method where addresses receive the Air Drop for historically having tokens at some point in the past.
I am familiar with the snapshot method, in which users with coins at a certain block #/date in their address receive an Air Drop, but not one that awards the Air Drop tokens to wallets with historical transactions for certain tokens.
What About Our NEO Exchange Addresses?
Will Binance or KuCoin or Huobi Pro honor the Master Contract Token Air Drop and give us the correct amount of MCT we deserve? Remember, the funds in an account are not yours unless you control the private keys to the address holding those funds.
This is OUR call-to-action, as community members, to pressure/inform centralized exchanges to honor community-centric airdrops like this. Since we do not control the private keys to the aforementioned exchange accounts, it is up to them to decide if they will deposit the MCT into our individual exchange accounts. Meaning, they decide whether or not they take the tokens that were meant for our possession.
I hope this article was at least insightful— follow along for more exciting stories on blockchain and cryptocurrencies!
Below are some resources for beginning cryptocurrency enthusiasts or others interested in something new:
The links below include affiliate/referral links which help support me as a writer. I do not get paid to write and this is my only means to generating income for writing. Thank you in advance and hope these resources are helpful to you. I only include resources in this list that I have used in the past.
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Cryptocurrency Resource Telegram Channel — Telegram channel dedicated to providing beginners or experienced cryptocurrency traders with alternative resource options. Exchanges, hardware wallets, tax resources, etc.
Ledger Nano S — multi-cryptocurrency cold hardware wallet supporting Bitcoin forks. Keep your coins safe and offline. Cold storage.
Kucoin Exchange— Binance’s ‘little brother.’ Very similar with trading competitions and whatnot. Revenue share token as well!
Exmo Exchange — just launched their own coin and adding robust features to the trading platform.
Binance— the up-and-coming cryptocurrency exchange that has truly entered as a leader among exchanges. Tons of benefits, a trader’s must-see.
CoinMate— great Bitcoin Exchange for those who reside in Europe, the EU and surrounding area. Very easy to understand.
Huobi Exchange— newer Asian-based exchange, many new tokens.
InvestFeed— Follow along on InvestFeed to get the best cryptocurrency project news. The go-to social platform for crypto enthusiasts.
NonFungible.com— CryptoKitties, CryptoPunks, Etherbots, Etheremon, Decentraland land marketplace sales and more CryptoCollectible Non-fungible token (NFT) price history.
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