The $RMRK Token Fairdrop

Note: with the timeline having changed, the fairdrop snapshot is being extended to July 1st, noon CET.

In order to further secure the independence of the RMRK team and to be able to decentralize the governance over the entire multi-chain protocol that RMRK aims to become, the Association is launching a governance token under the ticker $RMRK.

We aim to completely decentralize governance of the protocol within the next three years, such that the organization owns a minority of the tokens in their balance and treasury combined (under 20% total).

A total of 10 million (10’000’000) tokens will be minted, matching Kusama’s KSM supply. The tokens will be minted on the common-good chain Statemint that's being launched on Kusama in the coming months.

The tokens will be distributed according to a mechanism we call the Fairdrop.

Note: This is currently the only way to obtain the tokens. Funds, legal entities, and accredited investors should get in touch for individual large-ticket purchases and to avoid KYC on the site.

You can find out how many tokens you're eligible for by visiting the token page on Kanaria.

Fairdrop

X% of all tokens will be airdropped to everyone who had an egg or a bird in their address on July 1st at noon CET, as a gesture of thanks to all our earliest supporters.

💥 THESE TOKENS WILL BE UNLOCKED ON DAY 1

If SF are Super Founder eggs, F are Founder, R are rare, and LE are Limited edition, then the value X is calculated as: X = (SF*150 + F*100 + R*20 + LE*2) / 46350

The RMRK team intended to raise a total of 46350 KSM (9*150 + 90 * 100 + 900 * 20 + 9000 * 2, excluding pre-claim prices which were half that).

Putting together points for each egg, we calculate how many KSM were collected.

The ratio of TOTAL / 46350 is how much we’ll airdrop to egg holders, in the proportion of eggs they hold and based on these points. In other words, the value of tokens per egg is:

• Super Founder: 32362.4595469 tokens
• Founder: 21574.9730313 tokens
• Rare: 4314.99460626
• LE: 431.499460626

This means it’s possible for 100% of the tokens to be distributed if all eggs are claimed.

Token Distribution

The remainder of the tokens if all eggs are not claimed will be distributed according to the following formula:

• 5% of the remaining tokens will be locked for the team
• the rest goes away on promo activities, market making, and other small expenses.

There is no second private sale or public sale.

Token Utility

Please see the dedicated utility post.