OMG token airdrop for ETH token holders
There is a chance you may qualify for some free OMG tokens, if you own ETH tokens. Let's see how!
At the beginning of August Omise announced that they were planning a re-distribution of the 5% of issued OMG tokens to existing ETH holders. Every address on the Ethereum blockchain that held a balance over a minimum threshold of 0.1 ETH at a recent past block height, would receive a share of this 5% that is proportionate to their share of ETH.
The block number has been announced yesterday, along with more details about the airdrop update:
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.
Here's a few important details to keep in mind to determine if you qualify or not:
- Block 3988888 was mined on Jul-07-2017 04:36:56 PM +UTC (~47) days ago.
- To qualify, you must had a balance over 0.1 ETH on Jul 07th. It doesn't matter how may ETH you have today. Some people bought ETH immediately after the initial announcement, without understanding that it makes no difference.
- There is an high chance you will be able to claim the tokens only if you stored the ETH tokens in a wallet where you own the keys. Notable examples are hardware wallets such as the Trezor and the Ledger Nano S, or softwares like MyEtherWallet, Jaxx, and Exodus. Keep in mind that, from the blockchain point of view, you are the owner of the tokens only if you own the keys of the wallet. But there is another reason you may not be able to qualify, that I'll explain in a second.
- If you stored your tokens at an exchange, such as Coinbase or Kraken, there is a very high chance that you won't be able to get these tokens. The reason is because most exchanges keeps your tokens in internal wallets (and very often offline in cold wallets), instead of keeping them in your ETH wallet. What it means, in practice, is that your ETH amount counts against their token balance, and not your balance. There's an easy way to check: get your public ETH wallet address from the exchange, paste it into Etherscan and check the balance you had on Jul 7th. If you only bough tokens inside the exchange (e.g. via USD or EUR), there is an high chance that your balance will be 0. Again, I highly recommend you to store your coins/tokens outside exchanges: Trezor and Ledger Nano S are excellent products.
The exact details on how you'll be able to claim these free tokens is not clear. However, there will likely be more updates soon as the aidrop is expected to start on September 4th.