$35 Million Massive Air Drop Comes From DFINITY And CoinList
A new $35 million air drop has been released by the DFINITY Foundation, which works off the Ethereum platform with a public network and blockchain technology. They have called this airdrop the “largest in history” as they try to step away from the classic ICO sales, making their options available to “hundreds of thousands” of members. While discussing the lack of ICO, DFINITY noted,
“The lack of discrimination between good and bad projects means there is very poor price discovery and, if we run a traditional ICO we might also become guilty by association in many eyes. Furthermore, we fear that a legal and regulatory hornets’ nest has been created, and we don’t want to have our project… distracted by legal problems.”
This airdrop comes from a fundraising round, during which Andreessen Horowitz and Polychain Capital raised $61 million. CoinList contributes to their first airdrop, partnered or otherwise, with Know-Your-Customer/Anti-Money Laundering (KYC/AML) techniques that they have established. It is supposed to let developers start creating their own experiments with the tokens, since the DFN token is distributed over just a large audience.
The DFINITY community airdrop has arrived. We're distributing DFN tokens worth $35M to ensure developers and enthusiasts alike can experiment with the #InternetComputer from launch! https://t.co/Pdc4zMSXUg
— DFINITY aka "the Internet Computer" (@dfinity) May 29, 2018
The target audience is exclusive to non-US residents, and those residents must be currently involved in either DFINITY’s or CoinList’s user database. In a post, DFINITY said,
“We’re blown away with the continued support from our community, and we have used a variety of inputs to determine how DFINITY (/DFN) tokens are to be distributed amongst the community, including community tenure.”
Anyone that is part of the DFINITY mailing list already, as of April 4th, 2018, gets part of the 25 million CHF-valued tokens. If the user joined after that date, they will be part of the distribution that divides up another 10 million CHF-valued tokens. All members will receive a minimum of $100 worth of DFN tokens.
However, they will need to cover the costs of their own KYC/AML processes, which is $9 in tokens. The process will be noted in emails until June 2nd to give consumers the time to complete it, though the deadline is June 8th.