Alchemint is airdropping Flamingo Finance tokens to its users beginning October 25th. The FLM airdrop will go to past and present SDUSD stablecoin issuers and users who participate in the upcoming SDS NEP-5 to ERC-20 standard migration.
In September 2020, Alchemint announced its intentions to airdrop FLM to token holders, distributed according to a random snapshot of the Neo blockchain. Simultaneously, Alchemint released plans to migrate half of its one billion SDS token supply to Ethereum. The move to Ethereum aims to improve cross-chain use by increasing access to assets for users in other blockchain ecosystems.
Alchemint seeks to distribute 10,000 FLM tokens accordingly:
- Current SDUSD issuers: 2,500 FLM
- Past SDUSD issuers: 500 FLM
- Token swap participants: 7,000 FLM
Current SDUSD issuers will receive a pro-rated amount of 2,500 FLM based on the amount of SDUSD they have historically issued, regardless of how much SDUSD they’ve returned.
Prior Alchemint users qualify for eligibility in a share of 500 FLM if they’ve ever “clicked the Start SAR button.”
Lastly, to incentivize users to migrate their NEP-5 SDS to Ethereum, Alchemint is airdropping 1 FLM for every 25,000 SDS converted to the ERC-20 standard. Alchemint claims that individuals who participate in the SDS token migration will receive their FLM airdrop immediately. However the ERC-20 SDS token is likely to be distributed roughly two weeks following the swap.
Alchemint noted the team and project partners are not eligible for the airdrop rewards.
Looking forward, Alchemint will release a step-by-step tutorial for the SDS NEP-5 to ERC-20 migration.
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