March 30, 2023

‍$KREST airdrop for Raspberry Pi owners: the details

In a nutshell: The first 500 people to connect their Raspberry Pis will automatically take part in a krest token airdrop. Working on a first-come-more-earned basis, the airdrop will see a total of up to 1,000,000 krest tokens (0.25% of total supply) distributed to the owners of the connected mini-computers in two batches. Besides that, Raspberries will continue to earn krest tokens after the airdrop for their owners as part of the network’s rewards for connected machines.  

When life gives you lemons, sell the lemonade and buy raspberries, because with raspberries you can bake raspberry pies, and with Raspberry Pis you can continuously earn crypto on krest and peaq.

No, this is not to say that peaq is now a bakery (although we do dream of the day when a Web3 robo-bakery will go live on the peaq network, that’s the stuff the Ecosystem Grant Program was made for), but we do have a soft spot for Raspberry Pi mini-computers. They’re quite versatile as testing tools, you see, and as such, they are a huge help for developers building dApps to run on peaq.

That’s why the first 500 people who connect their Raspberry Pis to peaq via peaq control will automatically join the krest airdrop. There’s up to 1,000,000 tokens to be handed out, and here’s how it will work for those who get their hand in the pie. 

A bit about krest

krest is peaq’s canary/sister blockchain network — the world’s first Economy of Things simulation network. As such, krest is the live-fast-die-young Web3 IoT playground for daring experiments and a production-grade environment for developers building on peaq.

krest has recently won a parachain auction on Kusama, Polkadot’s canary chain. We are now working on launching it as a parachain, and aim to have it live within the next months. Once krest goes up, so will its native token — and that’s the reward in this airdrop. You can find the tokenomics for krest here. While we don’t have an answer to the “wen token?” set in stone, it will be soon, most likely, in Q2 this year. And the earlier you connect your Raspberry Pi, the more $KREST you will earn.

The Airdrop

With a total supply of 400,000,000 tokens, we’ve allocated 0.25% of it for this airdrop, meaning there is a total of up to 1,000,000 krest tokens to hand out to the first 500 Pi owners who connect their devices via peaq control. While everyone who connected their Pi will receive the tokens on their wallets, the rewards will be distributed based on when each device was connected. The earlier you connect, the more you’ll earn.

How exactly will this work?

The token rewards are split into five tiers based on when the Raspberry Pis were connected.

The first 100 devices to link up will receive 29.6% of the allocated tokens, or 296,000 $KREST.

101-200 will get 23.6%
201-300 will get 18.6%
301-400 will get 15.6%
401-500 will get 12.6% 

Each device within each bracket gets a flat amount as a reward. Meaning that every device in bracket 1-100 will get the same amount, in this case 296,000 divided by the 100 devices.

If less than 500 devices are connected, the leftover tokens will be carried forward for future campaigns, not distributed to connected device owners. 

The rewards will be distributed in two batches, first one at the token generation event, the second one — about a month after that. If you miss the first batch, you cannot get a cut in the second one, so you do want to move fast. 

The sooner you connect your Raspberry Pi, the higher the bracket you’ll be in, and the more $KREST tokens you’ll be airdropped.

If you’ve already connected your Raspberry Pi - congrats, you’re already on the leaderboard. 

How do I connect my Pi and join the airdrop?

We’ve got that all worked out for you in this blog: https://www.peaq.network/blog/connect-your-raspberry-pi-and-earn 

Including links to step-by-step guides and tutorial videos. It’s important you follow the steps carefully and submit via the Dework link in order to participate. 

The gift that keeps on giving

Remember how we said in the intro that the pie would be earning crypto non-stop? It may not sound so from what you’ve already read, but we actually weren’t kidding. The Pis connected to krest will actually consistently earn crypto for their owners.

Here’s how that works: As part of its incentivization model, peaq provides machine rewards to all devices connected to the network, to incentivize owners to stay connected and bring more devices into the ecosystem. krest, as peaq’s canary network, is replicating and testing this mechanism, with a solid share of its network revenues slated for redistributing among the connected devices.

This includes Pis, which have an important role to play in its ecosystem. The Pis connected to krest will simulate the activities of various connected machines and devices, such as electric vehicles, charging stations, drones and more. By doing so, they will enable developers to test their dApps leveraging such machines with real-world permissionless IoT connectivity.

An airdrop is good, but long-term recurring rewards coming in as part of a mechanism baked into the foundation of a Web3 network are even better. 

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