SEED Combinator has initiated the first snapshot of its airdrop today, offering participants a share of a $30,000 prize pool. This is the first of three snapshots, with the next two scheduled for October and November. The airdrop aims to reward community members based on their engagement levels during these snapshots.
SEED Begins First Airdrop Snapshot. Source: X
SEED DAO is a decentralized autonomous organization (DAO) focused on providing funding and support new projects within the blockchain ecosystem. It functions as a decentralized venture capital fund, where community members have the opportunity to contribute, vote on proposals, and participate in decision-making processes.
As of now, the airdrop has attracted 1.65 million YouTube subscribers, 12.5 million Telegram followers, and 1.7 million Twitter followers. Additionally, 2 million Seedizens have added âSEEDâ to their social media usernames, signaling their involvement. SEED Combinator has advised participants to stay active to maximize their token rewards in future snapshots.
SEED Airdrop Builds Community Ahead of OKX Listing
The SEED airdrop is part of a plan to grow the community ahead of the November listing on the OKX exchange. The upcoming listing is expected to generate demand for tokens. SEED Combinator has structured the airdrop to allow both long-term and new participants to earn tokens based on their activity levels. Participants can earn tokens without any set limits, depending on their level of engagement during the airdrop period.Â
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Token Burn Warning for Inactive Users
SEED Combinator has issued a warning to inactive users. Accounts that remain inactive for over 30 days will have their $SEED tokens permanently burned. The first burn is scheduled for September 27, and $SEED tokens from inactive accounts will be removed from circulation.
SEED issued warning regarding token burn. Source: X
Notably, only active participants will qualify for rewards during the airdrop. In fact, SEED Combinator said that this token burn aims to ensure a fair distribution of tokens by eliminating inactive accounts. Users need to log in regularly to avoid losing their tokens. The burn will reduce the overall token supply, potentially benefiting active members.
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