News
What’s happening?
It’s raining $KREST! As a celebration of krest’s launch on Kusama, there’s seven airdrops coming up, with a total of 13.6 million tokens allocated for those. Those holding at least 2,000 $KREST in the coming months will be eligible for an upcoming airdrop of $PEAQ tokens worth $1 mln*.
Why is this important?
The airdrops reward the community and peaq’s supporters for faith in the project and as a tool to drive further adoption and on-chain activity, amplifying the value for everyone.
What does this mean for the community?
There’s things to do and tokens to airdrop! Just like peaq, krest will be a community-first network, and the airdrops give everyone a chance to get their piece of the pie. Wanna know how? Read on!
It’s been a long and arduous journey, and there’s more peaks to conquer — but an amazing milestone is past us: krest, peaq’s sister network, is live on Kusama, Polkadot’s wild and bold canary chain. The token is now live as well, trading on the MEXC exchange, which means it’s time to start handing it out to the community. Just like peaq, krest is a community-first project, and the people who supported it deserve a reward for their faith and engagement.
So here we go: 13,600,000 $KREST has been allocated to the upcoming airdrops. Token distribution will begin in the coming weeks, with exact dates dependent on the timeline of a specific airdrop. Most of the airdrops will follow a 12-month linear vesting schedule, meaning the participants will receive their share of tokens over a one-year period, gradually released with new minted blocks.
The figures are set in stone, but some of the details and dates may still change along the way, so make sure to follow peaq’s updates. And here’s something else to get excited about. Later this year or in early 2024 in alignment with the peaq mainnet launch timeline, there’s an airdrop of $1 million worth* of $PEAQ tokens for $KREST holders.
To qualify, you'd have to hold at least 2,000 $KREST in a non-custodial wallet (Polkadot.js, Talisman etc.). You can boost your rewards by holding more $KREST tokens over longer periods of time. More on that, including the snapshot and distribution details, in future posts — join peaq’s Discord to stay tuned.
In total, there’s seven airdrops and community-focused initiatives taking off or about to, so without further ado, here’s a handy overview to keep track of things. There will be airdrops for:
Allocation: 1,200,000 $KREST
You can keep your $KREST tokens in your Talisman wallet, a leading multi-chain Web3 wallet. Once $PEAQ is live, it will also be compatible with Talisman. Starting today at 4 pm CET and wrapping up at 4pm CET on August 9th, you can take part in a special airdrop for Talisman users.
To do so, head to peaq’s Zealy to find the Talisman airdrop sprint tasks, which are as simple as it gets: follow peaq on all socials, join peaq’s Discord, and submit your wallet address and a screenshot of the receive assets page for $KREST in your Talisman wallet (make sure to not include any sensitive info there!). After completing those, you will be eligible to take part in the airdrop, which, like most other airdrops on the list, follows a 12-month linear vesting schedule.
Remember, this is a quick week-long-sprint, so waste no time!
Allocation: 1,400,000 $KREST
By winning auction 72 on Kusama, Polkadot’s canary network, krest is now a live parachain, up and running within the Kusama ecosystem. As a massive thank you to everyone who supported its bid for a parachain slot lease, the contributors will receive extra $KREST tokens on top of their regular crowdloan rewards, which will be proportional to their contributions. Like most other airdrops on this list, it follows a 12-month linear vesting schedule. The distribution for this one is already underway, with tokens released over the span of 12 months with newly-generated blocks.
Allocation: 1,400,000 $KREST
As you know, peaq won Polkadot’s parachain slot auction #45. This means that peaq’s mainnet gets to go live as a Polkadot parachain, which is too massive a milestone for the project to keep the celebrations in check.Thus, as a gesture of gratitude to all crowdloan contributors, they will all receive $KREST on top of the regular crowdloan rewards in $PEAQ. The exact volume of the reward, distributed over a 12-month linear vesting schedule, will depend on how much $DOT they locked in for the crowdloan. Keep an eye on peaq’s socials to learn how peaq crowdloan contributors can submit their Kusama addresses for the $KREST airdrop. The mainnet launch is nearing by the day, and even though it’s still quite far, it’s hard to hold back the excitement.
Allocation: 400,000 $KREST
The owners of all devices connected to krest, including Raspberry Pi mini-computers and anything else outfitted with its own self-sovereign peaq ID on krest, will receive rewards as part of this special airdrop. The allocated amount will be split evenly between all connected machines, so everyone gets top-tier rewards. One day, all machines in the world will run on peaq, but big journeys always begin with a small step — and those who made this step deserve their rewards. Again, the airdrop follows a 12-month linear vesting schedule.
Allocation: 1,400,000 $KREST
No network can be community-powered or owned without community-operated nodes. To incentivize this, the first nodes joining the krest network will get special rewards — head to the documentation section for more on how to set up a node. Any nodes joining within a month from today will take part in this airdrop. The more nodes join in, the more decentralized the network grows, after all, and that is very much the goal. The airdrop will follow a 12-month linear vesting schedule.
Allocation: 1,400,000 $KREST
The peaq Ambassador program v1 will go live in Q3 2023, followed by v2 a few months later. V2 will include a limited number of custom PFP NFTs with community peaq event access rights. peaq ambassadors will have access to a special $KREST airdrop to reward their fervor and efforts to spread the word of the Economy of Things on peaq.
More details about the program will be available in a dedicated blog post, so make sure to follow peaq on all channels to stay up to date on how to become an official peaqonaut.
Allocation: 6,400,000 $KREST
In the coming weeks and months, the community-focused activities will pick up pace, offering you more quests to complete on Zealy. Besides that, there will be airdrops and giveaways for various other activities, such as taking part in AMAs on Twitter and Discord, as well as challenges, quizzes, and joint initiatives with other ecosystem members. A lot of those will be announced separately, so make sure to keep an eye on peaq’s social media channels to stay in the loop!
The allocated tokens will be split between multiple initiatives, tasks, and quests, so the specifics on the distribution will depend on the exact initiative at hand. As a project putting the community first, peaq had to bring the allocation for these initiatives to the maximum, making sure there’s a big token pool up for you to get into. So join peaq’s Zealy if you haven’t done so yet and keep an eye for the upcoming announcements!
*at the current valuation of private offerings.
