What is an Airdrop?
An Airdrop is a distribution of tokens to Cryptophyl exchange users.
Cryptophyl will release six million (6M) Spice based on your exchange trade volume. Once the minimum volume threshold has been met, the airdrop will be activated and will occur on Wednesday 21st August at 09:00 GMT.
What is the minimum volume threshold?
The minimum volume threshold (MVT) is the minimum amount of exchange volume required for an airdrop to occur. Previously, Cryptophyl carried out an airdrop based on capital: user balances on the exchange. We felt that it didn’t encourage trading and didn’t reward our most loyal users.
Volume in this case is the total amount of Spice traded on the SPICE/BCH pair. It’s expressed in terms of the traded asset, Spice (SPICE).
When will it happen?
The airdrop will happen on Wednesday the 21st August at 09:00 GMT. You can track the progress on the airdrop landing page.
How do I participate?
To participate, you must have at least one trade on Cryptophyl. This includes all trading activity since Cryptophyl launched in closed beta.
If the minimum capital threshold (MVT) has been met, a snapshot will be made on Wednesday the 21st of August at 09:00 GMT. Subsequently, Spice will be credited to airdrop participants based on trading volume.
How much Spice will I receive?
The allocated spice is calculated in three steps:
Your trading volume is calculated for the SPICE/BCH product
The total exchange trading volume is calculated for the SPICE/BCH product
A ratio is calculated by dividing your trading volume by the exchange trading volume
This ratio is multiplied by ½ (only half the volume is Alice’s)
The result is multiplied by 6 Million
The resultant value is the Spice you can expect to receive.
Alice has 1,500,000 Spice of trading volume from trading Spice on Cryptophyl. At the time of the snapshot, the total exchange trading volume is 150,000,000 Spice. We divide Alice’s figure by that of the exchange. The resultant ratio we calculate for Alice is 0.01 (1%). Multiplying 0.01 by ½ and subsequently 6 million (total airdrop amount) gives 30,000 Spice.
You can track your trading volume on the airdrop landing page.
Why should I care about SPICE?
Spice is an appreciation token that integrates and ranks social network content. Share it Hard with people who brighten your day. Spice is one of the fastest growing and most used tokens built on Bitcoin Cash.
We’re excited to have listed Spice as the first token on Crytophyl and to continue working with the Spice team to drive this project to mass adoption.
We do not provide advice
We provide our services on an execution-only basis. This means we do not provide investment or financial advice for any product. Where we provide factual information, market commentary, transaction procedure guidance or methods of managing risk, you should not construe these as advice. You are solely responsible for any decision to enter into any transaction.