As IOST Foundation had announced that 10% of the total Donnie Finance (DON) supply will be distributed to IOST holders through 2 rounds of airdrop, the first 5% of the total DON supply was already distributed to IOST holders around the world early this year. Bitkub also participated in this 1st airdrop and distributed DON to IOST holders at Bitkub successfully.
The 2nd DON airdrop of the remaining 5% has already been announced by IOST Foundation and Bitkub will be handling all the technical procedures of this distribution for the best benefit of our customers.
Conditions of Participation
Customers who wish to participate must hold their IOST in Bitkub wallet at 3:00 PM (GMT+7) on 30 September 2021 in order for Bitkub to take a snapshot for DON distribution.
IOST under the following statuses will NOT be included in this DON airdrop
1. IOST in successful sell orders before the snapshot on Bitkub.
2. IOST purchased after the snapshot on Bitkub
3. IOST withdrawn before the snapshot on Bitkub.
4. IOST in incomplete deposit transactions before the snapshot on Bitkub.
* The amount of DON received will result in an 8-decimal number. Any amount lower than 8 decimals will not be included in the amount received.
- IOST deposit and withdrawal suspension:
30 September 2021 at 12:00 PM (GMT+7)
**In the meantime, the trading system (buy and sell) of IOST will not be affected.
- Bitkub and IOST Foundation take the snapshot of IOST on customers’ wallets:
30 September 2021 at 3:00 PM (GMT+7)
**The process of taking snapshots may take some time, depending on the number of customers participating in the airdrop.
- IOST deposit and withdrawal resume after the snapshot by Bitkub and IOST Foundation:
30 September 2021 at 6:00 PM (GMT+7)
Donnie Finance (DON) Distribution Rules
IOST Foundation will distribute DON to Bitkub within 7 days from the day the snapshots are taken. Bitkub will credit DON into participating customers’ wallets as soon as possible.
1. The ratio of IOST to DON will be announced by Donnie Finance after finalizing the lists of exchanges that support the 2nd airdrop worldwide.
2. IOST Foundation will airdrop DON to the supported exchanges within 7 days after the snapshot, calculated by using the following formula:
a. The total number of DON airdrop (5% of the total number of DON) = 500,000 DON
b. The number of exchanges that participate in DON airdrop event worldwide
c. The number of IOST held by each exchange on the specific date and time of the snapshot
3. Example of IOST ratio calculation:
a. Formula (from IOST Foundation)
- Number of participated exchanges = 2 exchanges
- Number of IOST held by Exchange A = 30,000 IOST
- Number of IOST held by Exchange B = 70,000 IOST
- 5% of the total number of DON = 500,000 DON
b. The ratio of DON airdrop to 2 exchanges = 3:7
c. The number of DON airdrop to Exchange A = 150,000 DON
d. The number of DON airdrop to Exchange B = 350,000 DON
e. The ratio of DON distributed to each exchange will be affected by the number of participating exchanges and their IOST holdings.
4. After Bitkub receives DON, we will calculate and distribute the token to our IOST holders following the distribution rule below:
a. A customer’s ratio of IOST holding = Total IOST held by a customer / Total IOST held by all Bitkub customers
b. Total DON received by a customer = A customer’s ratio of IOST x Total DON received by Bitkub
5. Example for DON distribution calculation:
a. Total IOST held by a customer = 100 IOST
b. Total IOST held by all Bitkub customers = 30,000 IOST
c. Total DON received by Bitkub = 150,000 (subjected to change depending on the number of exchanges participating in this airdrop worldwide)
(Total IOST held by a customer / Total IOST held by all Bitkub customers) x Total DON received by Bitkub = DON received by a customer
DON received by a customer = (100 / 30,000) x 150,000 = 500 DON
6. After receiving DON from the IOST Foundation, Bitkub will calculate the amount of DON and distribute the tokens to all IOST holders as soon as possible.
- Only IOST amounts snapshot at 3:00 PM (GMT+7) on 30 September 2021 are eligible for the calculation.
- Please trade IOST with caution of potential price volatility during the procedures of DON airdrop.
- Trading of DON is not confirmed by the support of this airdrop. DON listing will be strictly reviewed through the same process as other coins and tokens listed on Bitkub. As per Bitkub’s internal policy, we do NOT guarantee the listing of this token.
For more information about the airdrop, please check here.