The airdrop is expected to begin on Monday, 4 September, and is expected to take about a week to finish (depending on Ethereum traffic conditions). The block height (3988888) has already passed, so nothing you can do now will affect the outcome of the airdrop. DO NOT enter your private key on any site claiming to handle the airdrop - these are scams. The airdrop will not require you to do anything - it will happen automatically.
Thanks for posting this my friend. Stay vigilant CryptoNation!
What is Airdrop? OMG4me
How would you describe in 2 sentences what Airdop is?
AirDrop is when Omisego will dispense x amount of OMG to your ETH account that was holding more than x amount of ETH during block height x. 5% of ICO was set aside from beginning to 1.accomplish the task to have increased amount of verifiers when they go live with PoS and 2. Give back to the community and allow those who may not have been able to join ICO to join in thus making a stronger decentralized network.
If I understand it correctly, basically anyone that owns OMG will get some free coins?
That is incorrect. People who owned Ethereum at block 3988888 and have over 0.1 ETH in that wallet(s) at that time will receive OMG to that wallet. Block 3988888 was mined July 7, 2017. So if you did not have ETH in an ETH wallet on or before that block you will not be receiving any. That is how I understand it.
ok cool thanks for explaining
any idea how this will effect people just holding some OMG?
If you’re only holding OMG, you will not get additional OMG. You will need to be holding >= .1 ETH to get air dropped OMG.
isit additional omg that will effectively water down the market price tho?
It shouldn’t bring price down. Now, if people receive these coins, and then dump them, then it will bring the price down.
what if u have eth on a wallet that doesnt have a OMG wallet :o?
I’ll look further into this and get an answer for you.
After further investigation, I found a reply to this answer.
“Because OMG are ERC20 tokens all ETH holders will automatically receive this in the same wallet at the Ether itself. This includes cold wallets. If your ETH is on an exchange, you are probably out of luck. You can try to contact the exchange to ask how they handle this…”
He further went on to explain that…
“I will make it even more confusing, sorry…
ERC20 tokens, like OMG, are managed by a specific smart contract. The airdrop will create (lots of) transactions on that smart-contract and place a balance on addresses based on their distribution calculation. With your own private key you are able to access that same smart contract to transfer the tokens on your address and transfer them to another.
Unlike ETH, ERC20 tokens are not on your ETH (wallet) address but only on the smart contract.”
Hope this helps!!! Here is a link to the forum I received the information from
thanks, ill guess ill just wait and see