thecryptobasic.com
XRP-friendly exchange Uphold has begun distributing Evernode (EVR) tokens to eligible customers.
More than two months after Evernode completed the registration stage for its airdrop to XRP holders, the tokens are now finally hitting user wallets.
Popular crypto exchange Uphold, which supported the airdrop, revealed this week that eligible XRP holders have already begun receiving their Evernode tokens.
The Evernode airdrop is one of the most talked about distributions in the XRPL ecosystem, over 423 million XRP eligible, signaling high interest. A snapshot for the airdrop was taken on September 1, 2023, with the distribution now marking the final phase of the process.
Liaising with exchanges such as Uphold evidently makes the distribution faster, as users do not have to perform additional transactions to receive the assets. Instead, users claiming on-chain undergo a more rigorous process.
🪂 Airdrop Notice 🪂
We are in the process of distributing $EVR to Upholders that held $XRP before the Sept 1st snapshot.
Eligible users should expect to find @EvernodeXRPL inside their Uphold Wallets within the next 24 hours.
For the latest updates: https://t.co/zWjPtuNcAx
— Uphold (@UpholdInc) February 28, 2024
For the uninitiated, Evernode runs an XRPL-based sidechain designed to bring smart contracts to the network.
Following its mainnet launch in mid-January, developers can now build decentralized applications (dApps) on the sidechain, with EVR serving as the native currency. Validators also receive token rewards in the asset.
Evernode Surges 35% in Month
The latest distribution to Uphold XRP holders comes at a time when Evernode’s native token is enjoying a moment in the spotlight. The cryptocurrency has gained 35% in the past month and was recently listed on CoinMarketCap.
At the time of writing, EVR is currently hovering around $0.24, having peaked at around $0.28 in the past 24 hours. The mild price correction may be attributable to a combination of selloffs from the airdrop tokens received and the broader market drop in momentum.
According to Uphold, users would receive 0.002089 EVR for holding 1 XRP on the platform during the September snapshot, up to a maximum of 50,000 XRP. For 50,000 XRP, holders will receive 104.4 EVR.