OnChainMonkey announces the launch of KARMA token, airdropping to users holding NFT, TRAC/PIPE

This website 120bTC.coM recently announced that the NFT project OnChainMonkey (OCM) will launch KARMA tokens and conduct community airdrops. This airdrop will cover the OCM, TRAC and PIPE communities. Previously, Jason Fang, founder of Sora Ventures in the Bitcoin ecosystem, had predicted that OCM would bring surprises, and now it has finally been announced.

KARMA Token: Strengthen Brand Influence

In order to increase OCM brand awareness and attract market attention, KARMA token was introduced and is expected to play an important role in promoting the overall growth strategy of the platform.

KARMA: A new currency that rewards community participation

KARMA is a cryptocurrency designed to reward OnChainMonkey NFT holders and attract participation from the broader crypto community. The total supply is 1 billion tokens, 70% of which (i.e. 700 million tokens) will be used for airdrops to the OCM, TRAC and PIPE communities.

NFT holders airdrop details

Of the 700 million tokens, OnChainMonkey NFT holders will be allocated 560 million tokens. Each Celestial NFT holder will receive 1 million tokens, while Dimensions 300 NFT holders will receive 135,000 tokens. Genesis NFT holders will receive 40,950 tokens, while Karma1 and Karma2 holders will receive 4,500 tokens.

Please note that only NFT assets migrated from Ethereum to Bitcoin can participate in the airdrop. Karma holders’ tokens will be retained until the migration is completed.

Other distribution of KARMA tokens

In addition, 112 million KARMA tokens will be distributed to TRAC token holders, while PIPE token holders will receive 28 million KARMA. 20% of the total supply, or 200 million tokens, will be dedicated to token swaps for TRAC token holders only, and 10%, or 100 million tokens, will be received by the community treasury to fuel ecosystem growth .

Token Exchange: Strengthening Token Connection with the Bitcoin Ecosystem

200 million KARMA tokens will enable the community inventory to generate 500,000 TRAC. TRAC holders can exchange their tokens for KARMA at a preferential ratio of 1TRAC to 400KARMA. The resulting 500,000 units of TRAC will be staked on TracCore to validate Tap Protocol’s network.

This is based on the OCM team’s belief in Tap Protocol’s vision and the importance of building a decentralized indexer.

OnChainMonkey: From Ethereum to Bitcoin Ecology

OCM is 10,000 avatar-type NFT (PFP) minted on Ethereum in 2021. According to OpenSea information, OCM switched to Bitcoin After the network was launched, it has attracted the community to spend more than $1 million to engrave NFTs on the Bitcoin network through Ordinals. OnChainMonkey is currently also the NFT series that is most actively developing towards the Bitcoin network.

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