Waltonchain Team Token Airdrop and Burn Plan

4 min readJul 12, 2019

Waltonchain is committed to technology research and development and community ecosystem construction, sharing with the community, gathering the R&D and innovation forces of the community and common realization of the grand Waltonchain blueprint.

Based on the current R&D progress as well as confidence and firm determination to achieve the vision of Waltonchain, the Waltonchain team has decided to give more than a half of the team’s locked-up 10,000,000 WTC to the community through a series of airdrops and burns. The total airdrop and burn amount will be 5,200,000 WTC.

The Airdrop and Burn Plan shall start from the date of this announcement. The corresponding airdrop and burn events shall start when each of the following trigger conditions is reached and end at 00:00:00 (UTC+8) on January 18, 2020. The remaining portion and the portion trigger conditions for which have not come shall remain locked until January 2020 as per the recent Waltonchain Team Token Lockup Extension Announcement.

Trigger Conditions, Airdrop and Burn Amount:

1. When the daily average price of WTC reaches USD 4.25 for the first time, 1% of the team’s locked-up tokens (i.e. 100,000 WTC) shall be airdropped and another 2% (i.e. 200,000 WTC) shall be burnt;

2. When the daily average price of WTC reaches USD 6.42 for the first time, 1.3% of the team’s locked-up tokens (i.e. 130,000 WTC) shall be airdropped and another 2.7% (i.e. 270,000 WTC) shall be burnt;

3. When the daily average price of WTC reaches USD 9.64 for the first time, 1.7% of the team’s locked-up tokens (i.e. 170,000 WTC) shall be airdropped and another 3.3% (i.e. 330,000 WTC) shall be burnt;

4. When the daily average price of WTC reaches USD 14.58 for the first time, 2% of the team’s locked-up tokens (i.e. 200,000 WTC) shall be airdropped and another 4% (i.e. 400,000 WTC) shall be burnt;

5. When the daily average price of WTC reaches USD 21.86 for the first time, 2.3% of the team’s locked-up tokens (i.e. 230,000 WTC) shall be airdropped and another 4.7% (i.e. 470,000 WTC) shall be burnt;

6. When the daily average price of WTC reaches USD 32.78 for the first time, 2.7% of the team’s locked-up tokens (i.e. 270,000 WTC) shall be airdropped and another 5.3% (i.e. 530,000 WTC) shall be burnt;

7. When the daily average price of WTC reaches USD 49.28 for the first time, 3% of the team’s locked-up tokens (i.e. 300,000 WTC) shall be airdropped, and another 6% (i.e. 600,000 WTC) shall be burnt;

8. When the daily average price of WTC reaches USD 74 for the first time, 3.3% of the team’s locked-up tokens (i.e. 330,000 WTC) shall be airdropped and another 6.7% (i.e. 670,000 WTC) shall be burnt.

Airdrop and Burn Execution Details:

1. WTC price shall be the USD price of WTC at https://coinmarketcap.com/currencies/waltonchain/;

2. Execution time: When each of the above airdrop and burn trigger conditions is reached, i.e. when the 24 h daily average price of WTC reaches each of the above trigger prices, at 08:00 (UTC+8) the next day a snapshot shall be made for WTC mainnet and ERC-20 addresses to count the airdrop amount for each address. Token burn shall be completed within 5 business days after the snapshot. The airdrop shall be divided into three parts and completed within one month after the trigger condition is reached. Time shall be UTC+8;

3. Burn method: The amount of each burn shall be deposited to an exclusive smart contract and shall never be withdrawn;

4. Airdrop distribution: Each airdrop shall be fully distributed to each address as per the proportion of each address determined by the following rules:

Addresses holding 100 WTC or above shall be qualified to receive the airdrop; addresses holding 100,000 WTC or above shall be counted as 100,000 WTC addresses;
The proportion of airdrop for each address to the total airdrop shall be determined by the weight of address: the more WTC are held, the larger airdrop proportion is received. Shall the address balance be the same, the airdrop proportion for GMN and SMN addresses shall be larger than that for normal addresses. The address weight and airdrop calculation formula shall be as follows:

WTC shall be airdropped to ERC-20 addresses before the mainnet token swap and to mainnet addresses after the token swap. Hot wallet addresses on cryptocurrency exchange platforms shall be excluded from the airdrops. Exchange platform addresses shall be unable to receive the airdrops, please make sure the address you use to receive the airdrops is a personal blockchain wallet address.