is there still time to participate?

The Lava Network project is set to launch a crypto airdrop of its governance token LAVA tomorrow, according to an email to The Cryptonomist.

The new cryptocurrency can be staked by validators and providers, and staked by token holders, powering a modular data network.

Are we still in time to qualify for the airdrop?

Let’s find out together.

What is the Lava Network project and how does it work?

Lava It is a modular data network that provides access to more than 30 blockchains thanks to its fast and reliable RPC nodes.

Founded in 2022, the project has already served over 40 billion RPC requestswith a recent average of 2 billion daily calls.

For those who don’t know, the term RPC indicates the interface “Remote Procedure Call”used by users to interact with a web3 application.

Every time we connect with a decentralized wallet For an application, this mechanism allows us to call functions and communicate with the blockchain.

Each web3 wallet provider has its own basic RPC for each supported network, but Lava Network aims to offer more powerful and competitive tools.

Source: https://gateway.lavanet.xyz/chains

Lava Network is committed to ensuring high uptime and uninterrupted access to data on the blockchainso as to offer a fast and reliable service Application connections.

The project uses its own suite of validation nodes that verify the status of the Shop network and participate in distributed consensus by validating new blocks.

Validators earn LAVA tokens for their workwhile users are encouraged to delegate their power of consent with financial rewards.

In the initial phase, to promote the adoption of Lava RPCs, the public was encouraged to use the project’s endpoints, contributing to the success of the network.

By using Lava RPC endpoints, users earn points that will be converted into airdrops when the mainnet launches tomorrow.

In February 2024, this project closed a $15 million funding round, led by Hash keyTribe Capital, Jupm, Quiet and others.

The capital was used to better develop the data layer for access to the Web3 world.

LAVA Governance Token Crypto Airdrop Set for Tomorrow

According to the project team in a confidential email to The Cryptonomist, LAVA cryptocurrency airdrop is scheduled for tomorrow.

In conjunction with the launch of the mainnet, Lava Network is rewarding all node operators who provide high-performance RPC services with a new token of the same name.

Users who participated in the “incentivized pools” contributing to the 40 billion RPC calls milestone will also be rewarded with LAVA tokens.

We don’t yet know how to control and request the airdrop, but all the information should be coming soon.

At the moment there is no active page where you can check eligibility and the respective assignment, so pay attention to the diffusion fraud and false contract.

With the launch of LAVA and the mainnet, the chapter of “Magma Phase 3” closes, which accompanied the inclusion of users and developers.

Source: https://www.lavanet.xyz/roadmap

The users suitable for the airdrop it will be possible to redeem the new LAVA token and stake in Refurbishing the coin to earn additional rewards.

Node operators will instead be able to directly point the resource, contributing to the security of the network.while also obtaining returns.

The staking reward is paid directly in LAVA, while incentives are offered in the form of AXL, EVMOS, and other tokens.

LAVA also serves as a governance token for the project, to be used to participate in community decisions.

Source: Italian: https://www.lavanet.xyz/blog

Tokenomics of the LAVA cryptocurrency

LAVA will have a supply of 1 billion tokenswith maximum supply minted at TGE and no future unlocks.

6.6% of the maximum supply is dedicated to “Provider Drops”, which are awarded as a monthly reward for attracting new providers during the initial phase of the mainnet.

This is a boostrapping mechanism with rewards paid monthly in proportion to the demand generated.

15% of the supply is being used for various crypto project incentives, including the airdrop scheduled for tomorrow.

3.4% of the quota is earmarked for an initial pre-minting for the validators, while 31% is destined to fuel the ecosystem of applications that orbit around the network.

Finally, 17% goes to the first backer and 27% to the main contributor.

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

The LAVA tokens distributed with the airdrop will not be subject to vesting and will all be unlocked at the time of launch.with the exception of the reward pool which unlocks in the 4th year.

Instead, the ecosystem, investors and collaborators will have to comply. acquisition rules: for the first, 25% is unlocked at launch, while 75% is unlocked over 4 years with linear distribution.

For investors and collaborators, 33% is unlocked after the first year, while the remaining 67% is diluted over 3 years.

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

Is it still possible to participate in the LAVA cryptocurrency airdrop?

Unfortunately, there is no more time to participate in the LAVA cryptocurrency airdrop.whose launch is scheduled for tomorrow.

As confirmed on Twitter and Discord, the so-called “Magma Point Season 1” ended on June 17.

At the moment there is therefore no way to accumulate pointsqualifying shortly for tomorrow’s airdrop.

AnywayIt is not excluded that there will be new Magma Points Seasons (it’s really likely) so we can already organize ourselves for farm the next distribution.

To qualify for future launches, it is essential to utilize Lava Network RPCs as much as possible, both in the mainnet and in the testnet.

To do this, we need to go to the “Try Lava Gateway“, select the desired network (e.g. Ethereum) and then copy and paste the endpoint into our wallet’s RPC settings.

If you have never performed an operation of this type, you can count on this tutorial.

Another thing you need to do to qualify for future airdrops is buy the LAVA token on the market and delegate the restaking to validators.

By doing so, in addition to obtaining a return on the deposit, we will fuel the network of validator nodes, strengthening the Lava network.

Fuente