On August 7, 2017, blockchain project OmiseGO announced plans to distribute 5% of the total supply of OMG tokens to ETH holders via an airdrop. Today, more than one year later, Poloniex has announced that ETH token holders will receive those funds.
Earlier today, Circle announced via a blog post that all ETH holders on Circle’s crypto exchange Poloniex would be receiving the OMG owed to them.
Poloniex is pleased to announce that we have credited our customers who held an ETH balance at block height 3988888 with their OMG. Eligible customers will find that their allocation of OMG is now credited to their OMG account balance. https://t.co/n8RowywWf8
— Poloniex Exchange (@Poloniex) November 29, 2018
Last year, the OmiseGO team took a snapshot of account balances on the Ethereum blockchain at block height 3988888. That block was mined on July 7, 2017 at 16:36 UTC. OmiseGO published details of its snapshot online at its official blog at the time.
If you held at least 0.1 ETH on Poloniex on July 7, 2017, then you have received OMG tokens proportional to your ETH balance.
The OmiseGO airdrop was designed to put as many OMG tokens into the hands of as many existing crypto users as possible. It was a strategic move to encourage people to hold and use OMG tokens.
OmiseGO is a decentralized payment platform and exchange based on the Ethereum blockchain. The Bangkok-headquartered company has primarily focused on bringing blockchain-related benefits to customers across Southeast Asia.
If you held ETH in your own wallet, then you will have already received your OMG tokens.
Poloniex calculated the amount of OMG owed to users based on their ETH account balances at the time of the snapshot. ETH lenders will also receive the OMG owed to them.
How Much OMG Did You Receive?
Free money is always nice. However, don’t expect to get unexpectedly rich from this airdrop. Remember: The amount of OMG you receive is proportional to the amount of ETH you held at the time. Still, it’s a nice little bonus – especially for large ETH holders.
“The proportion of OMG to ETH works out to 0.075 OMG for each ETH held at the time of the snapshot.”
If you had 10 ETH stored on Poloniex at the time of the snapshot, for example, then you would receive 7.5 OMG, which works out to about $12 USD at today’s prices.
“Eligible customers will find that their allocation of OMG is now present in their OMG account balance. To view your assets, please visit the Balances page of your account.”
Login to your Poloniex account today to find the OMG tokens owed to you since last year’s original OmiseGO airdrop.