Umair
The team behind interoperability protocol Hyperlane shared Thursday their upcoming token airdrop plans happening at the end of the month.
The airdrop will occur on April 22, and users can check their eligibility to receive $HYPER tokens via a portal provided by the Hyperlane Foundation by April 13, the team shared in a press release with CoinDesk.
The token distribution will mostly go to the community, with 57% of the supply going to users, while the remaining circulating tokens will be distributed to the core team (25%), investors (10.9%), and the foundation’s treasury (7.1%).
The team also shared that the airdrop will be fully unlocked for community recipients, while the core team and investors’ tokens will be locked for the first 12 months.
In addition to the token distribution to early users, Hyperlane is coming out with their “expansion rewards” program, which is based on developer and cross-chain end-user activity, and will be distributed to users each quarter proportional to their activity on the network.
“The retroactive token allocation at TGE is just the first of many over the coming several years, as protocol ownership begins moving into the hands of the developers and end-users who rely on Hyperlane to send assets and other critical messages across chains,” said Nam Chu Hoai, a co-founder of Hyperlane.
Read more: Blockchain Startup Hyperlane Raises $18.5M Round Led by Crypto Investor Variant
