is there nonetheless time to take part?

In accordance with what was reported in an e mail to The Cryptonomist, the Lava Community undertaking is about to launch tomorrow the crypto airdrop of its governance token LAVA.

The brand new cryptocurrency will be staked by validators and suppliers, and staked by token holders, fueling a modular knowledge community.

Are we nonetheless in time to qualify for the airdrop?

Let’s discover out collectively.

What’s the Lava Community undertaking and the way does it work?

Lava is a modular knowledge community that gives entry to greater than 30 blockchains due to its quick and dependable RPC nodes.

Based in 2022, the undertaking has already served over 40 billion RPC requests, with a current common of two billion day by day calls.

For individuals who have no idea, the time period RPC signifies the interface “Distant Process Name”, utilized by customers to work together with a web3 utility.

Each time we join with a decentralized pockets to an utility, this mechanism permits us to name features and talk with the blockchain.

Every web3 pockets supplier presents its personal base RPC for every supported community, however Lava Community intends to supply more practical and aggressive instruments.

Lava Community is dedicated to making sure excessive uptime and uninterrupted entry to knowledge on blockchain, resembling to supply quick and dependable dApp connections.

The undertaking makes use of its personal suite of validator nodes that confirm the state of the PoS community and take part within the distributed consensus by validating new blocks.

The validators earn LAVA tokens for the work completed, whereas the customers are inspired to delegate their consensus energy with financial rewards.

Within the preliminary section to drive the adoption of Lava’s RPCs, the general public was incentivized to make use of the undertaking’s endpoints, contributing to the success of the community.

By utilizing Lava’s RPC endpoints, customers earn factors that shall be transformed into airdrops on the launch of the mainnet tomorrow.

In February 2024, this undertaking closed a funding spherical of 15 million {dollars}, led by Hashkey, Tribe Capital, Jupm, Quiet, and others.

The capital has been used to raised develop the information layer for accessing the Web3 world.

Crypto airdrop of the governance token LAVA scheduled for tomorrow

In accordance with what was reported by the undertaking crew in a confidential e mail to The Cryptonomist, the airdrop of the LAVA crypto is scheduled for tomorrow.

At the side of the launch of the mainnet, Lava Community rewards all node operators for offering high-performance RPC providers with the brand new token of the identical identify.

Even the customers who participated within the “incentivized swimming pools” contributing to reaching the milestone of 40 billion RPC calls shall be rewarded in LAVA tokens.

We’re not but conscious of the modalities associated to the checker and the declare of the airdrop, nevertheless, all the data ought to arrive shortly.

For the second, there isn’t a energetic web page the place you may verify eligibility and respective allocation, so watch out of widespread rip-off and faux contract.

With the launch of LAVA and the mainnet, the paragraph of the “Magma Part 3” involves an in depth, which has accompanied the onboarding of customers and builders.

The customers eligible for the airdrop will be capable of redeem the brand new LAVA token and stake in restaking the coin to earn further rewards.

Node operators will as a substitute be capable of instantly stake the useful resource, contributing to the safety of the community, incomes yields as nicely.

The staking reward is paid instantly in LAVA whereas the incentives are provided within the type of AXL, EVMOS, and different tokens.

LAVA additionally serves because the governance token of the undertaking, for use for collaborating locally’s selections.

Tokenomics of the crypto LAVA

LAVA may have a provide of 1 billion tokens, with the utmost provide minted on the TGE and no future unlocks.

6.6% of the utmost provide is devoted to the “Supplier Drops”, which is allotted as a month-to-month reward to draw new suppliers in the course of the preliminary section of the mainnet.

It’s a mechanism of boostrapping with rewards paid month-to-month in a fashion proportional to the generated demand.

15% of the provision is used for numerous incentives of the cryptographic undertaking, together with the airdrop scheduled for tomorrow.

3.4% of the share is allotted to an preliminary pre-mint for the validators, whereas 31% is to gasoline the ecosystem of purposes that orbit the community.

Lastly, 17% is devoted to the early backer and 27% to the core contributor.

Supply: https://docs.lavanet.xyz/distribution

The LAVA tokens distributed with the airdrop is not going to be topic to vesting and shall be unlocked all at launch, aside from the reward reserve which unlocks within the 4th yr.

Quite the opposite, the ecosystem, buyers, and collaborators should adjust to vesting guidelines: for the previous, 25% is unlocked at launch whereas 75% unlocks over 4 years with linear distribution.

For buyers and collaborators, 33% is unlocked after the primary yr whereas the remaining 67% is diluted over 3 years.

Supply: https://docs.lavanet.xyz/distribution

Is it nonetheless attainable to take part within the airdrop of the crypto LAVA?

Sadly, there isn’t a extra time to take part within the airdrop of the crypto LAVA, as it’s scheduled to be launched tomorrow.

As confirmed additionally on Twitter and Discord, the so-called “Magma Level Season 1” has come to an finish on June 17.

In the meanwhile, there may be subsequently no option to accumulate factors, qualifying in a short while for the launch of tomorrow’s airdrop.

In any case, it isn’t excluded that there shall be new Magma Factors Season (it’s certainly probably) so we are able to already arrange ourselves to farm the following distribution.

To qualify for future launches, it’s important to make use of Lava Community’s RPCs as a lot as attainable, each in mainnet and testnet.

To do that, we have to go to the “Strive Lava Gateway” part, choose the specified community (e.g., Ethereum) after which copy and paste the endpoint into the RPC settings of our pockets.

When you have by no means completed an operation like this, you may depend on this tutorial.

One other factor to do to qualify for future airdrops is to purchase the LAVA token in the marketplace and delegate to validators in restaking.

By doing so, along with acquiring a yield on the deposit, we’ll feed the community of validator nodes, strengthening the Lava community.