MTLX Airdrop for FET Holders on Binance
Apr 9, 2021
Binance.com users holding FET tokens will soon be eligible to receive MTLX!
The Fetch.ai and Mettalex teams are thrilled to announce that Binance.com, the global blockchain organization behind the world’s largest crypto exchange by trading volume, will support an MTLX token Airdrop to FET holders!
The initiative is yet another confirmation of the Fetch.ai team’s continued regard for FET token holders who share the project’s long-term vision.
- Duration: The MTLX Airdrop will be held over a period of 50 days — starting at 11:59 PM UTC on April 13, 2021, and ending at 11:59 PM UTC on June 1, 2021.
- Eligibility: Binance.com users who have held an average amount of 10,000 FET tokens in their Binance.com wallets at the time of the eight snapshots will be eligible for the Airdrop.
- Ratio:Eligible holders will receive one MTLX for every 10,000 FET tokens they have held on their Binance.com accounts. The average amount of tokens held throughout the eight snapshots must be at least 10,000 FET.
- Snapshot Times: Snapshots will be performed weekly. The dates and times of the snapshots are:
- Total Airdrop Value: The number of MTLX tokens to be distributed depends on the number of FET tokens held in Binance.com users’ accounts.
- Rewards Distribution: The MTLX tokens will become available in the users’ Binance.com accounts after the end of the Airdrop.
- Minimum FET amount: An average of 10,000 FET over eight account snapshots.
- MTLX Contract Address: 0x2e1E15C44Ffe4Df6a0cb7371CD00d5028e571d14
- How do I join the MTLX airdrop?
All Binance.com users can join the MTLX airdrop by holding a minimum average number of 10,000 FET tokens in their FET wallets on Binance.com at the time of the eight snapshots from April 13, 2021, to June 1, 2021.
- How do I get FET tokens in order to join the MTLX Airdrop?
You can buy FET tokens on Binance.com with BTC, BNB, or USDT.
- How much FET should I have in my Binance.com account to be eligible for MTLX rewards?
Users must have at least 10,000 FET on average during the time of the eight snapshots to be eligible to receive MTLX tokens.
- What if I move/sell some or all FET that I have on my Binance.com account during the MTLX airdrop?
If users decide to move or sell part or all of their FET during the Airdrop campaign the number of MTLX tokens they are eligible to receive will be proportionally modified. For example:
In the above case, the user both removes and adds FET tokens to their Binance.com balance. At the time of the second snapshot, the user has less than 10,000 FET on their account but then compensates by holding larger amounts during the next snapshots. The average amount of FET that they have held during the Airdrop is calculated in the following way:
(100,000 + 5,000 + 150,000 + 50,000 + 100,000 + 500,000 + 250,000 + 650,000) / 8 = 225,625
The number of MTLX tokens that they will receive is:
225,625 / 10,000 = 22.56 MTLX
- Is this airdrop part of the FET staking program announced in the Mettalex Economics Overview blog post?
Yes, the MTLX tokens used in the Binance Airdrop are part of the third FET staking program announced by Fetch.ai and Mettalex.
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