As IOST foundation will airdrop 5% of the total supply of Donnie Finance (DON) to IOStoken (IOST) holders in order to introduce the DON ecosystem, Bitkub would like to keep this benefit for IOST holders by handling the technical procedures of DON Airdrop.
You must hold IOST in Bitkub wallet during the snapshot process
Bitkub will snapshot your IOST on 25 February 2021 at 11:30 AM (GMT +7, Thailand time)
* IOST in the following status will not be snapshot for DON Airdrop:
1. IOST in successful sell orders before the snapshot on Bitkub
2. IOST withdrawn before the snapshot on Bitkub
3. IOST in incomplete deposits before the snapshot on Bitkub
** The amount of DON received will result in an 8-decimal number (from the 9th decimal point onwards). Any amount lower than 8 decimals will not be included in the amount received.
- For example, if DON calculation result = 7.12345678
910 You will receive DON after calculating data = 7.12345678.
IOST deposit and withdrawal suspension: Wednesday 24 February 2021 at 10:00 PM (GMT +7, Thailand time)
IOST trading suspension: Thursday 25 February 2021 at 11:00 AM (GMT +7, Thailand time)
IOST trading back in service: Thursday 25 February 2021 at 03:00 PM (GMT +7, Thailand time)
IOST deposit and withdrawal will still be suspended until the snapshot is completed.
DON deposit, withdrawal, and trading will not be opened until further notice.
Donnie Finance (DON) Distribution Rule
Bitkub will distribute DON token to IOST holders after the deposit and withdrawal services for DON is completed
1. The ratio of IOST to DON will be announced by Donnie Finance after finalizing the lists of exchanges that support DON worldwide.
2. IOST will airdrop DON to the supported exchanges, calculated with the following formula:
a. The total number of DON airdrop (5% of the total number of DON) is 500,000 DON
b. The number of exchanges that participate in DON airdrop event
c. The number of IOST held by the exchange on the specific date and time of the snapshot
3. Calculation example
a. Formula from IOST foundation
- Number of participated exchange = 2 exchanges
- Number of IOST held by 1st exchange = 100,000 IOST
- Number of IOST held by 2nd exchange = 400,000 IOST
- 5% of the total number of DON = 500,000 DON
b. The ratio of DON airdrop to 2 exchanges = 1:4
c. The number of DON airdrop to 1st exchange = 100,000 DON
d. The number of DON airdrop to 2nd exchange = 400,000 DON
e. If more exchanges participate in the event, the ratio of DON airdrop to each exchange will be adjusted accordingly.
4. After Bitkub receives DON, the exchange will distribute DON to the IOST holder with the following criteria:
a. The ratio of IOST holding = The total number of IOST held by a user/ The total number of IOST held by all user (at the time of the snapshot)
b. The number of DON received by a user = The total number of IOST held by the user x The total number of DON received by Bitkub
5. Example for DON airdrop calculation
a. The total number of IOST held by a user = 100 IOST
b. The total number of IOST held by all Bitkub’s users (At the time of the snapshot) = 10,000 IOST
c. The total number of DON received by Bitkub = 50,000 (subjected to change depending on the number of exchanges who support the airdrop)
- The ratio of IOST = The total number of IOST held by a user / The total number of IOST held by all Bitkub’s users (At the time of the snapshot)
Ratio of IOST held by user = 100 / 10,000 = 0.01
- The number of DON received by the user = ratio of IOST held by a user x the number DON received by Bitkub
The number of DON received by user = 0.01 x 50,000 = 500 DON
6. Exchange will calculate the exact number of DON airdrop to IOST holders after receiving DON from the IOST.
7. After receiving an official announcement from IOST, Bitkub will calculate the exact number of DON airdrops to all IOST holders.
8. Please be mindful when performing any transaction with IOST during the time of airdrop, including deposit, withdrawal, and trading.
We apologize for any inconvenience caused.