OmiseGo Airdrop, ETH on July 7th was the target!

An Ethereum based crypto currency "OmiseGo", which is planning to conduct Airdrop in early September, has now revealed the details of the event.

In Airdrop, OmiseGo's token "OMG" will be distributed to ETH holders unconditionally, but the question was when and how the token would be distributed, and more importantly, at which block height OmiseGo project team judges as some address hold ETH. The team has now answered to these questions in their announcement.

"The airdrop is expected to begin on Monday, 4 September, and is expected to take about a week to finish (depending on Ethereum traffic conditions). 5% of the total supply of OMG has been set aside for the airdrop (see sale doc). Addresses on the Ethereum blockchain that held a balance over (not ‘over or equal to’) a minimum threshold of 0.1 ETH at block height 3988888 will receive a share of the airdrop allocation that is proportionate to their share of ETH." https://www.omise.co/omisego-airdrop-update-2

The announcement tells us that those who held ETH at block height 3988888 will receive OMGs. Block height is a sort of number of each block of the block chain, and block height 3988888 was made on July 7th. So those who had ETH on July 7th can get OMG, but those who rush to buy ETH to get OMG recently, there is no meaning to do that, because the target block has already passed... What a thing!

By the way, the announcement did not tell us which exchange or wallet we should have hold ETH in order to receive OMG. My guess is that since the announcement states that all ETH addresses that fulfill the condition are the target, and OMG is ERC20 token, OMG will be distributed to every ETH address in the whole world. It does not matter in which exchange or wallet you had ETH on July 7th, but it matters if that exchange or wallet corresponds to the airdrop or not. To be specific, if they reflect OMG to their client wallet accounts. This will be the decision they make, so we or OmiseGo team cannot do anything to it. Let's hope that as many as exchanges and wallets reflect OMG to client's account. If you had ETH in MyEtherWallet or Mist, there will be no problem.

To conclude this article, let me tell you a story. There was a meet up in Tokyo on August 10th, where Ethereum founder Vitalik and Omiseo advisor Thomas came. I asked a question to Thomas "Do we have to move ETH to some wallet from exchange?", then he answered "Too late". At that time, I could not understand why it was too late, but now, finally I know why...