Fuel's Upcoming Airdrop: 10% of New Token Supply to 200,000 Wallets
Layer-2 network Fuel plans to distribute a significant portion of its new token supply to eligible users in an upcoming airdrop.
What to Know:
- The FUEL token has a maximum supply of 10 billion tokens, with 1 billion tokens being airdropped to early users.
- It claims to be the fastest and cheapest Ethereum rollup, with up to 600 transactions per second (TPS).
Fuel, a layer-2 network built on Ethereum, has announced that the airdrop for its native token will commence on December 19, with 10% of the total supply set aside for over 200,000 eligible wallets.
The airdrop claim period will last for one month. Out of the total airdrop allocation, 28% will be awarded to phase-1 pre-depositors, 20% will go to users of the Fuel bridge, and 12.5% will benefit 'NFT enthusiasts.'
Fuel touts itself as the fastest and most cost-effective rollup on Ethereum, boasting a transaction processing speed of up to 600 TPS at approximately $0.0002 per transaction. This efficiency is achieved through mechanisms like parallelization, state minimization, and interoperability. In contrast, Arbitrum, the leading layer-2 by total value locked, has averaged only 27.6 TPS over the last 24 hours, while Base is around 90 TPS, based on L2BEAT data.
The maximum supply for the token is 10 billion, and users can still accumulate 'points' for Fuel phase 2, which can later be converted into the FUEL token.
Fuel's block explorer reports that it has conducted 154,000 transactions in the past day and has 63 active decentralized applications (dapps).
