The Ambire WALLET token has recently gained attention in the crypto space, particularly due to its planned airdrop of 30% from a total supply of one billion tokens.
The Ambire WALLET token has recently gained attention in the crypto space, particularly due to its planned airdrop of 30% from a total supply of one billion tokens. This guide aims to elucidate the airdrop process, eligibility requirements, and the various programs associated with the token, including Ambire Legends and liquidity mining.
By examining these elements, users can better understand how to navigate this airdrop and its potential implications.
Understanding Ambire and Its Offerings
What is Ambire?
Ambire is a self-custody wallet designed to give users control over their digital assets while ensuring a secure management experience. Launched in 2022, the platform has gained traction in the crypto market, offering a user-friendly interface and innovative features.
It aims to simplify the complexities often associated with self-custody solutions, thereby appealing to a broader audience.
The WALLET Token
The WALLET token serves as both a governance and reward token within the Ambire ecosystem. Token holders can engage in the WalletDAO, which facilitates community-driven decisions regarding the development and integration of new features.
This democratic approach allows users to influence the future trajectory of the Ambire Wallet. Additionally, the token incentivizes user participation, with 30% of the total supply earmarked for rewards to encourage engagement.
Participation in Ambire Legends
What is Ambire Legends?
Ambire Legends is a gamified testing program designed for the Ambire Wallet browser extension. Officially launched on December 12, 2024, it provides early testers with the opportunity to earn rewards while familiarizing themselves with the wallet’s features.
Access codes for the program can be obtained through Ambire’s official Discord or Telegram channels, ensuring that participants are part of the community.
Features of the Game
The platform integrates wallet functionality testing with engaging gaming elements through a quest-based system. Participants can earn experience points (XP) by completing various quests that assess different wallet features.
As users accumulate XP, they increase their potential share of the 195 million WALLET token pool, making active participation beneficial.
Quest System and Rewards
Players begin by downloading the Ambire wallet extension and creating an account. They can then select a character and embark on quests designed to test the wallet’s functionality.
The quests vary in type and may include daily challenges or specific tasks tied to different blockchain networks. As players progress, they unlock rewards and enhance their XP, which directly influences their share in the airdrop.
The Airdrop Mechanism
Overview of the Airdrop
The Ambire airdrop is structured around two primary components: participation in the Ambire Legends game and involvement in a liquidity mining program.
This dual approach aims to reward users who actively engage with the platform and maintain a presence in the ecosystem.
Eligibility Criteria
To qualify for the airdrop, participants must engage actively in one of Ambire's two on-chain products:
- Ambire Legends: This gamified platform allows users to test the Ambire Wallet browser extension. By completing wallet-testing quests, participants can earn rewards from a dedicated pool of 195 million WALLET tokens.
- Liquidity Mining Program: This program, which runs for four years, rewards users based on the value of their assets held in the Ambire Wallet compared to the platform’s total value locked (TVL). This method incentivizes users to maintain their assets within the wallet.
Airdrop Distribution Timeline
While no specific dates have been announced for the airdrop distributions, users can expect periodic rewards throughout the next four years.
The ongoing nature of the airdrop indicates that active users who engage in both the Legends game and liquidity mining will receive rewards based on their asset holdings.
The Liquidity Mining Program
Overview of Liquidity Mining
Ambire’s liquidity mining program complements the Legends game and is designed to run for four years following its launch.
This initiative rewards users based on the proportion of their assets held in the Ambire Wallet relative to the total value locked across the platform.
How Rewards are Calculated
In the liquidity mining program, rewards are calculated using a straightforward mathematical approach. For example, if a user holds 1% of the total assets in the Ambire Wallet, they are entitled to receive 1% of that period’s token distribution.
This system encourages users to retain their assets within the platform, thereby contributing to its overall liquidity.
Token Distribution Breakdown
The airdrop distribution is structured as follows:
- 30% allocated for user rewards through airdrops (including both the Ambire Legends game and the liquidity mining program).
- 35.5% designated for the DAO.
- 12.7% reserved for early backers, with a one-year linear vesting schedule.
- 10% allocated to team members, subject to a three-year linear vesting period.
- 10% for ADX stakers.
- 1.8% for liquidity, marketing, and market-making activities.
This breakdown provides insight into how the total supply of WALLET tokens will be distributed, ensuring that various stakeholders in the ecosystem are considered.
Security Considerations
Safe Participation Practices
Ambire has implemented several security measures across its wallet extension and reward programs, emphasizing safe user participation. To engage in Ambire Legends, it is crucial for users to obtain access codes through official channels and download the wallet extension only from the Ambire website.
The quest system is designed to systematically test wallet features, reducing the likelihood of user error during testing.
Market Considerations
While the WALLET token has secured a listing on a centralized exchange, it currently has a low market capitalization.
Users are advised to start with smaller amounts to gain familiarity with the platform before committing larger sums. This cautious approach allows participants to assess the risks associated with the token and its related programs.
Conclusion
The Ambire wallet airdrop presents an opportunity for users to engage with a self-custody wallet while potentially earning rewards through active participation. By taking part in either the Ambire Legends game or the liquidity mining program, users can contribute to the ecosystem and benefit from the token distribution.
However, as with any participation in crypto projects, it is essential for users to exercise caution, conduct thorough research, and remain aware of the evolving landscape.
Disclaimer
While Ambire legend provides a user-friendly platform for managing digital assets and participating in its ecosystem, users should exercise caution when engaging with the wallet and its associated programs. Always:
- Review transactions thoroughly before confirming.
- Keep your digital assets secure and utilize strong security practices.
- Be aware of the risks associated with using a self-custody wallet and participating in cryptocurrency activities.
- Never share your private keys or wallet credentials with anyone.
- Make informed decisions regarding any token distributions or in-app activities.
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