In a whitepaper update released Thursday, online crypto casino Shuffle outlined the project’s tokenomics and plans to distribute the Ethereum-based SHFL tokens in a series of airdrops beginning the first week of March.
The first airdrop, Shuffle said, will go to users who have played in the online casino in the first 12 months since its launch. Second and third airdrop rounds are planned for later this year, targeting a wider distribution of users.
According to Shuffle’s whitepaper, 31% of the token allocation will go to the Shuffle treasury, 8.8% to early contributors, 28% to airdrop rounds, and 25% to team members. The remaining 7% of tokens would go to a liquidity bootstrapping pool and liquidity mining.
Players who receive tokens via the airdrop, Shuffle added, can use their SHFL tokens as stakes in casino games as soon as they are received.
The SHFL Whitepaper.
— Shuffle.com (@shufflecom) February 15, 2024
“Through wagering with the SHFL token onsite, the user will also facilitate the accelerated vesting of their SHFL tokens remaining from the airdrop and contribute to their total wagered volume, which will in turn help them earn future airdrops,” the whitepaper reads.
The initial circulating supply, Shuffle said, will be 71.1 million SHFL tokens. Shuffle did not immediately respond to Decrypt’s request for comment on its airdrop plans. The platform accepts various cryptocurrencies for play, including Bitcoin and Ethereum, and also offers sports betting.
Several projects have already launched sizable airdrops over the last few months.
On Monday, Ethereum layer-2 scaling network Starknet announced a February 20 airdrop of STRK tokens to eligible wallets. Other huge airdrops in recent months include those of Solana decentralized exchange aggregator Jupiter and “app chain” network Dymension.
Blockchain games have also gotten in the mix. Crypto game Pixel started awarding airdrop allocations last week ahead of the PIXEL token’s launch on February 19. Nifty Island also launched a play-to-airdrop campaign last month for its ISLAND token.
Edited by Andrew Hayward