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UXLINK Reveals Eligibility Criteria For Major Reward

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Today, UXLINK has disclosed the eligibility criteria for its much-anticipated airdrop rewards. This announcement, made on the social media platform X, outlines the detailed process and metrics for the upcoming Season 1 UXLINK crypto airdrop. Moreover, UXLINK aims to ensure transparency and fairness in the distribution of its tokens. Hence, it looks forward to rewarding active and genuine contributors while maintaining a strong and secure ecosystem.

What Is UXLINK About?

UXLINK is an innovative social platform in the Web3 space, designed to promote widespread use by integrating social and decentralized apps (DApps) features. It works differently from conventional social media that focus on one-way, follower-based interactions. Thus, UXLINK emphasizes mutual snd friend-like connections. This design allows for immediate engagement via its UXGroup feature, establishing UXLINK as a leading user-centric platform.

According to UXLINK whitepaper, the platform’s primary goals are defined by three main components:

1. Social Hub: UXLINK aims to become the largest social network and infrastructure, focusing on genuine, two-way connections.

2. Access To All: Furthermore, the platform connects Web3 and Web2, enabling users and developers to discover, share, and trade crypto assets within a social, group-oriented environment.

3. Community Growth: in addition, UXLINK is dedicated to building an inclusive, trustworthy, and rewarding socio-economic community.

Tokenomics & Allocation

UXLINK has a capped token supply of 1,000,000,000 tokens, allocated strategically to maximize community involvement and project sustainability. The allocation is as follows:

1. Community: The platform has allocated 65% of the total supply to the community, which includes users who own UXLINK utility tokens and contributors to UXLINK projects and ecosystems. Moreover, within this allocation, users account for approximately 40%, while builders and partners make up 25%.

2. Private Sale: Meanwhile, 21.25%, allocated to partners of the project.

3. Team: 8.75%, reserved for co-founders and contracted employees.

4. Treasure: The platform reserves 5% UXLINK tokens for liquidity and project management.

Moreover, this structure allows for flexibility and adaptation as new partners join the project. UXLINK has committed to maintaining transparency in any changes to the allocation.

Also Read: Just-In: Gala Games And Animoca Brands Partners For GALA Token Boost

UXLINK Airdrop Eligibility Criteria

UXLINK’s airdrop eligibility criteria aim to reward genuine contributions and ensure a fair distribution of tokens. The criteria include:

1. UXLINK Social Contribution Scoring: Metrics include the completeness of a user’s profile, their interaction activity with UXLINK, and the activity within their social relationship chain.

2. Third-Party Sybil Identification: Professional third-party services like Trusta Labs will identify sybil accounts using AI-ML clustering algorithms.

3. Third-Party Wallet Authentication: Participation through third-party wallets requires address authentication by these wallets.

4. Third-Party Partner Whitelist Authentication: Addresses involved in partner airdrop campaigns must be authenticated by the partners’ whitelist.

However, various factors may influence a user’s eligibility and quality score, such as:

  • Certification of addresses as suspected sybil accounts by third parties.
  • Use of unauthenticated third-party wallet connections.
  • Low-value social networks within UXLINK.
  • Participation in uncertified third-party campaigns.

Meanwhile, eligible users can also receive 100% airdrop rewards if they meet the following conditions:

  • Purchase of NFT via Ethereum (ETH) on official websites.
  • High UXLINK social contribution score.
  • Recognition by professional third-party anti-sybil services.
  • Certified third-party wallet addresses.
  • Certification by partner whitelists.

Treatment for Temporarily Unqualified Users

Users with temporarily unqualified quality scores can still receive a portion of the airdrop under specific conditions:

1. Self-Reporting: If users self-report within three days, they can receive 15% of the token airdrop, with the remaining 85% redistributed to qualified contributors.

2. Complaint and Proof Submission: Users can submit complaints and proofs within six months for review. If approved, they will receive 100% of the tokens; otherwise, the tokens will be redistributed.

3. Failure to Act: However, Users who neither self-report nor appeal will forfeit their airdrop. Moreover, UXLINK will redistribute their tokens to qualified contributors.

Also Read: Shiba Inu Coin Set For Reversal As Burn Rate Hits 8500%

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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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PancakeSwap Opens Claim For 2.4M ZK Tokens As zkSync Denies Insider Minting

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PancakeSwap, a major decentralized exchange, has unveiled plans to distribute over 2.4 million zkSync (ZK) tokens to its community. This significant airdrop comes at a sensitive time for the zkSync ecosystem, coinciding with recent allegations against Matter Labs, zkSync’s developer. The airdrop aims to reward PancakeSwap’s users and increase platform engagement, but its timing has drawn attention due to the ongoing controversy surrounding zkSync.

PancakeSwap’s ZK Token Airdrop Amid zkSync Controversy

PancakeSwap, a leading multichain decentralized exchange, has announced a major community reward program set to begin on July 5 at 10:30 am UTC. The initiative will distribute 2,452,128 zkSync (ZK) tokens to its community members over a one-month period, ending on August 5. This airdrop comes as a gesture of appreciation for the community’s support of PancakeSwap’s zkSync deployment since July 2023. The timing is notable, as it coincides with recent controversy surrounding zkSync’s developer, Matter Labs.

Matter Labs recently faced accusations of “insider minting” related to its Libertas Omnibus NFTs. These claims, initially raised by blockchain research firm SoEasy on June 17, suggested improper distribution of NFTs to ineligible insiders. However, Matter Labs has strongly denied these allegations.

PancakeSwap’s airdrop follows significant milestones for the platform, including surpassing $3 billion in trading volume, $5 million in total value locked (TVL), and attracting over 1.9 million traders. The distribution is designed to reward both past and future contributors, as well as vote-escrowed Cake (veCAKE) holders.

Eligibility for the airdrop extends to active users who have contributed through trading, liquidity provision, and participation in previous zkSync initiatives. Future contributors who provide liquidity and trade on zkSync PancakeSwap will also be included, aiming to stimulate further platform growth.

At the time of publication, the airdrop is available to veCAKE holders and past contributors. Eligible users can claim their ZK tokens by connecting their wallet to the PancakeSwap platform homepage and following the provided instructions. Any unclaimed tokens will be redirected to support future PancakeSwap ecosystem development and community initiatives.

This airdrop represents a significant move by PancakeSwap to reward its community and potentially boost engagement, particularly in light of the recent controversies surrounding zkSync. It also highlights the ongoing competition and innovation in the decentralized finance space.

Also Read: Whale Continues XRP Selling Streak, $0.42 Becomes Major Resistance Level

Market Impact and ZK Token Performance

The ZK token has faced significant price pressure in recent weeks. Last month, it experienced a 5% drop following a $113 million token airdrop. Since its listing on major exchanges, numerous sell-offs have occurred, negatively impacting the token’s value.

As of the latest report, ZK is trading at $0.1495, with a 24-hour trading volume of $346,751,351. This represents a 7.43% price decline in the last 24 hours and a 7.55% decline over the past week. With a circulating supply of 3.7 billion ZK, the token’s market capitalization stands at $546.9 million.

The crypto community is now speculating on how PancakeSwap’s recent airdrop might affect ZK’s price, given its recent volatile performance and the ongoing controversy surrounding zkSync.

Also Read:  Leading Telecom Company Taiwan Mobile Gets Crypto Exchange License

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Pepe Coin Correction Prompts Over 1 Tln PEPE Dump, Bull Run Over?

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In an unprecedented turn of events, Pepe coin has raised severe investor concerns by showing signs of a price correction today, July 5. Recent on-chain data indicated that over 1 trillion PEPE was dumped to exchanges amid a nearly 12% dip in the value of the frog-themed meme coin.

The emergence of these massive dumps amid a bearish crypto market has made market sentiments take a paradigm shift. Notably, speculations that Pepe coin has potentially topped have pushed traders and investors onto a hot seat, further aligning with the massive exchange dump.

So, let’s dive deeper into the current market stats of the third-largest meme coin by market and what it indicates for future price movements.

Colossal Exchange Dumps Ignite Bearish Sentiments

According to the on-chain data offered by ‘The Data Nerd,’ a transaction tracker, $1.02 trillion PEPE was collectively dumped to a crypto exchange by two whales today.

The whale address 0xf22 deposited 435 billion PEPE, worth $3.86 million, to Binance, one of the leading CEXs. If sold at the current price, the whale will suffer a loss of $1.21 million.

Simultaneously, the market maker Wintermute deposited and sold a whopping 593.6 billion PEPE for $4.61 million. This massive selloff has presented Pepe coin with increased selling pressure.

Collectively, these massive transfers to exchanges have stirred a whirlpool of bearish market sentiments, underscoring loss in the market’s confidence surrounding the asset’s future potential.

Meanwhile, Pepe coin continued to trade dominantly in the red territory.

Also Read: Justin Sun Faces $66M Loss As Ethereum Records 10% Fall, Here’s Why

PEPE Price Plummets

At press time, PEPE’s price saw a 12.03% dip in value to $0.000008304. It’s 24-hour bottoms and tops are $0.000007724 and $0.00000963, respectively. The weekly crash, a fall of nearly 33%, saw PEPE regaining a zero in its value after shedding it amid this year’s bull cycle. This momentum has pushed the token to take a bearish stage.

It’s worth mentioning that while this price drop aligns with the broader market trend, Pepe coin has surged unprecedently amid this year’s bull cycle, defying broader market trends and sentiments. This could mean that Pepe coin’s long-due correction has finally taken place.

However, CoinGape Media spotlighted PEPE’s nearest resistance point at $0.000009, hinting that a potential market recovery could witness PEPE scaling this level, paving the road for further gains.

Collectively, the abovementioned data hints at uncertain market sentiments over the future price action of the frog-themed meme coin.

Also, the RSI rested around 31, hinting that further downside pressure might propel an entry into the oversold territory. Should this happen, chances are Pepe coin could witness a potential price rebound.

Nonetheless, crypto market participants extensively eye the token for further price shifts, given the volatility of the crypto realm.

Also Read: Coinbase, MicroStrategy & Bitcoin Miners Stocks Extend Losses Ahead US Job Data

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Whale Continues XRP Selling Streak, $0.42 Becomes Major Resistance Level

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In the background of the crypto market’s bearish movement today, a renowned XRP whale has continued selling significant amounts of XRP. Notably, on-chain insights by Whale Alert reveal nearly 71 million coins dumped to exchanges over the past day, setting off discussions surrounding XRP’s future price action across the crypto industry.

XRP price currently takes the heat of the broader crypto market trend, slipping as low as the $0.39 price level. So, let’s gauge in on the market statistics for Ripple-backed asset.

On-Chain Data Flags Whale Dumps

According to data by Whale Alert, 70.9 million XRP, worth $31.29 million, was shifted to two exchanges in a couple of transactions. As per the data, the whale address, …Rzn, was recorded as shifting the abovementioned amount.

…Rzn shifted 35.8 million coins, worth $15.80 million, to Bitso, a Mexico City-based CEX. Simultaneously, it transferred 35.1 million coins, worth $15.49 million, to Bitstamp, a Luxembourg city-based CEX.

These dumps have presented XRP with increased selling pressure amid a bearish market, causing further downside pressure on the asset. Intriguingly, CoinGape Media earlier reported that the same whale address has been repeatedly dumping XRP into the Bitstamp & Bitso crypto exchanges. Aligning with this, a negative market sentiment sparked by the whale dump engulfs XRP.

Meanwhile, despite Ripple rolling out upgrades for the network and strengthening its case against the U.S. SEC, the native token, XRP, has continued its sluggish movement.

Also Read: Leading Telecom Company Taiwan Mobile Gets Crypto Exchange License

XRP Price Correction?

At press time, the XRP price chart showed a 10.15% dip in value to trade at $0.4056. Its 24-hour lows and highs were $0.3977 and $0.4532, respectively.

Intriguingly, in a post by the crypto market analyst Dark Defender today, it was brought to attention that the $0.39 price level serves as POC (Point of Control). This is where most trades have taken place since 2014, making it a vital support as of the current trajectory.

Whereas, after consolidating over the past week, the crypto tanked forming resistance at $0.42. The RSI was moving along 22, signaled an oversold territory for the asset. This could mean a potential price rebound ahead as the market recovers.

Also, pro-XRP lawyer Bill Morgan took to X today, spotlighting his XRP purchase with a strategic buy-the-dip sentiment. This has added to optimism on a price rebound ahead.

Also Read: German Govt Moves 500 Bitcoin, Another BTC Dump Imminent?

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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