REDMOND, WASHINGTON 4 March 2024 –<\/strong>\u00a0$KARMA<\/a> released the largest fungible token airdrop in Bitcoin history to over 61,000 wallets on February 27.\u00a0In true Web3 tradition, the collection was launched by a seven-member $KARMA Council, bringing together 10 leading Ordinals communities behind $KARMA\u2019s mission.<\/p>\n The $KARMA Council\u2019s airdrop aims to foster a sense of community amongst early Ordinals participants and bolster the burgeoning ecosystem. <\/p>\n $KARMA is a token launched by a seven-member council, including four representatives from the OnChainMonkey (OCM) community: Soldman Gachs (@DrSoldmanGachs), Fitzy (@fitzyOG), Rabbi (@RabbiGains), and Drheref (@DrHeref). They are joined by BennyTheDev (@rarity_garden) and Alex Philippine (@Skrylabs) from Tap Protocol, bringing their technical expertise. Jason Fang (@JasonSoraVC) from Sora Ventures, a lead investor in Metagood, creators of OnChainMonkey, and the Tap Protocol is the final member of the Council.<\/p>\n Fostering strong relationships with other communities is something that the $KARMA Council believes will be an essential step in achieving the $KARMA community\u2019s goals. Accordingly, a significant number of tokens have been earmarked for future \u2018Karmunity\u2019 Incentives.<\/p>\n The $KARMA community incentive pot will continue to activate future partnerships or activations that will help to further expand the $KARMA and Ordinals community. This could include rewarding valuable community members, partnering with additional projects, or general growth initiatives.<\/p>\n With this in mind, the $KARMA Council decided to airdrop 49,968,900 $KARMA tokens to communities within the Ordinals ecosystem. This was designed to push towards $Karma Council\u2019s goal of expanding both the OCM & Ordinals ecosystems.<\/p>\n The Council sought to take an objective selection process. For this initial airdrop, they selected the top 9 collections by market capitalization at the time of the snapshot at Block Height 828,888 (4 February 2024). <\/p>\n The 9 communities eligible to receive $KARMA tokens in the Community Airdrop are:<\/strong><\/p>\n Bitmap (https:\/\/ordinalswallet.com\/collection\/bitmap)Bitcoin Punks (https:\/\/bitcoinpunks.com\/)Bitcoin Puppets (https:\/\/magiceden.io\/ordinals\/marketplace\/bitcoin-puppets)Bitcoin Frogs (https:\/\/bitcoinfrogs.com\/)Nodemonkes (https:\/\/nodemonkes.com\/)OMB (https:\/\/magiceden.io\/ordinals\/marketplace\/omb)RSIC (https:\/\/magiceden.io\/ordinals\/marketplace\/rsic<\/a>)PIPE (https:\/\/trac.network\/Pipe\/)TRAC (https:\/\/trac.network\/)<\/p>\n A total of 560 million $KARMA tokens are being allocated to holders of OnChainMonkey NFTs. Eligibility for the OnChainMonkey community was based on assets being migrated from Ethereum to Bitcoin. Except for the OCM Karma collection (https:\/\/opensea.io\/collection\/karma-monkey), which has had their allocation of $KARMA reserved until that collection is upgraded to Bitcoin. Since the snapshot has not been completed for OCM Karma, people can still purchase the assets on ETH and when they migrate to Bitcoin, they will be eligible for the $KARMA airdrop.<\/p>\n “Trac is the governance token for Tap Protocol, the first decentralized indexer economy on the Ordinals protocol enabling similar features of ERC20 but on Bitcoin L1. The TAP standard that created $KARMA was conducted by members of the OCM community but has now expanded towards 9 other Ordinals communities,\u201d\u00a0Jason Fang, founder of Sora Ventures said<\/strong>. \u201cTap protocol contains many more features compared to BRC20 that enables developers and projects to stake, send cost effective airdrops, and enable token distributions that make building on Bitcoin most cost effective, safer, and scalable.\u201d<\/p>\n “$Karma embodies the spirit of innovation and community, serving as a beacon for the next generation of decentralized ecosystems. We’re thrilled to champion this groundbreaking initiative led by our OnChainMonkey community members and investors,” remarked Amanda Terry, co-founder and COO of Metagood<\/strong>. “At OnChainMonkey, we\u2019re a community of builders and innovation and impact are woven into our DNA. Just as Bitcoin revolutionized finance, $Karma is poised to redefine collaboration, economic empowerment, and impact, with strong communities early to Ordinals at its core.\u201d <\/p>\nStrength in Numbers: Growing the Ordinals Ecosystem<\/h2>\n
The Ordinals Community Airdrop<\/h2>\n
Rewarding the OCM Community<\/h2>\n
Technical Milestones for Airdrops<\/h2>\n