Distributing crypto-assets to a large group of users remains a daunting task. The Mirror Protocol team has taken a slightly different approach. All UNI and LUNA holders are eligible for an airdrop, which needs to be claimed sooner rather than later.
Holding UNI Grants An Airdrop
The past few months have been a mixed bag for Uniswap‘s native UNI token. Traders appear to have lost some interest in this asset, at least where its price is concerned. At the same time, it is one of the biggest airdrops the cryptocurrency industry has seen in 2020. Many people make good money with these “free” tokens, and it seems other projects now recognize that potential as well.
Anyone who still holds UNI – as of November 23 or earlier – is eligible for one such airdrop. More specifically, the Mirror Protocol is now live. As part of the launch, the team organizes an airdrop of 9,150,000 tokens. Claiming this airdrop requires having 100 UNI or more in one’s wallet as of November 23. Those who do not meet this requirement will not receive any tokens.
A similar airdrop will occur for LUNA staker wallets. Users who hold LUNA in their wallet on the snapshot taken on November 23 will receive a share of those 9,150,000 tokens accordingly. It is an excellent way to distribute these tokens to users already supporting the DeFi ecosystem.
This airdrop serves as an example of why selling UNI tokens after claiming them may not have been the best idea. Although there is currently only one airdrop for holders of this token, Mirror Protocol may create a precedent. For the DeFi ecosystem, rewarding existing users instead of focusing on speculators may be the only path forward.
Earning MIR Through Other Means
For those who miss out on both airdrops, there are other ways to obtain the MIR token. It is currently trading on Uniswap against Ethereum. Additionally, users can provide liquidity on the Mirror Protocol website for all assets tied to MIR, allowing holders to earn even more tokens passively.
Enthusiasts who own LUNA tokens can stake those to earn MIR rewards for the foreseeable future. The last option is providing liquidity for the many different mAsset/UST pairs. Users have many opportunities to explore for anyone curious to see what Mirror Protocol will bring to the table.
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