HEX is getting ready to take off with news about PulseChainHEX has been down for the last 2 week due to whales selling off! But now we are looking good, with news about launch of mainnet TBD, investors are getting ready to position themselves into HEX and other ERC tokens. Airdrops of all ERC will be airdropped to holders! In this article we expand how airdrops work and what we see in the future of hex in the next couple months.
What is an airdrop?
First of all, let us start with the basics and explain what an airdrop is. In a few words, it’s free tokens or coins sent to your crypto wallet.
Whenever a decentralized company envisages to launch a new product, in order to increase the probability of quick user attraction and adoption it may do an airdrop. The company would send small amounts of the new virtual currency to the wallets of active members of their existing user base, follower base or blockchain community for free or in return for something. That thing may be as simple as retweeting a tweet, using their platform for a certain amount of time, on a certain date, etc. A company’s imagination is the limit.
This is a classical marketing stunt from which users may benefit hugely in case the specific project or product persists and attracts more new users after the airdrop. Obviously, it depends greatly on how much value the new project or product adds to its users. In the case of PulseChain the airdrop will be massive and so will be the added value. In fact, it will be the largest airdrop in history… literally.
If we want to be pedantic about it, PulseChain is not actually an airdrop but a “fork”. The difference between these two concepts is not relevant for the rest of this article. People like to use the term airdrop, so we will continue to use it here. The basic idea is that Ethereum is being photocopied.
What will happen during the PulseChain airdrop?
On the day that PulseChain launches, all ERC tokens on the Ethereum blockchain shall be copied over (duplicated) to the PulseChain. Yes, you read that correctly: your coins will double. PulseChain will be an exact replica of the Ethereum system state – a so-called “snapshot” – and anything you hold in your wallet on the Ethereum network will appear in the same wallet on the PulseChain network!
If you currently have 10k Hex, 0.5UNI and a couple of NFTs they are currently stored on the Ethereum blockchain. On day 1 Pulsechain Mainnet launch you shall have another 10k Hex, 0.5UNI and a couple of NFTs on the Pulsechain network. Switching between networks is easy and it can be done in a few clicks and copy/pastes on the most popular wallets. In addition to that, yo’ll be able to trade tokens on the Ethereum network and the Pulsechain network independently. Even tokens locked up in a liquidity pool or another smart contract, will be forked over to PulseChain. Yes, this airdrop will double your tokens, double your happiness.
Note that the tokens are actually not attached to the wallet, such as Metamask or Fortmatic, but to the public address instead (the public address is the long string on letters and numbers use to to receive and send tokens). The public address is then connected to the wallet when you log in to the wallet with your seed phrase.
We’ve tried to explain it simply in the image below:
PulseChain airdrop snapshot
One thing to note is that all ETH on the Ethereum network shall be copied over to PulseChain as PLS (on a one-to-one basis). Other ERC tokens shall retain their original name. So ETH becomes PLS; but HEX (on Ethereum) becomes HEX (on PulseChain). It is common for the Pulse and Hex community to add the prefixes “e” (for Ethereum) and “p” (for PulseChain) when speaking about tokens, to make it clearer for the listeners. For example, people often speak of eHEX and pHEX. But really they will both be HEX and, after launch, we will refer to HEX (on Pulse) simply as “HEX.”
And of course, if you have HEX that is currently staked, those stakes will be duplicated over to the PulseChain. If you have liquid HEX on Ethereum you will get liquid HEX on PulseChain.
Please note that the PLS tokens you will be airdropped in accordance with your ETH holdings are referred to as “freemium PLS.”
How about other networks such as Cardano, Solana, Fantom, etc.?
The tokens being copied over must be on the Ethereum mainnet. Any tokens bridged over to another chain, like Polygon or Binance Smart Chain or the ones mentioned above will not be taken into account during the airdrop.
Move your free PLS or lose it!
Yes, you read it right and this is important; freemium PLS must be moved or used, i.e. transacted within 30 days after launch otherwise it will expire, be burnt, deleted. You get the idea. If you participated in the PLS sacrificed or you buy some PLS at launch, it might be worthwhile moving all Pulse to a new address before the 30 days are up, then moving the Pulse back. This is because the function that extract the unmoved ETH will not be able to distinguish between freemium PLS, and PLS you purchase or receive otherwise.
This way, we’ll be sure that PLS on the Pulsechain network is active PLS. Pulse does endorse not apathy! The network can’t discern between Freemium Pulse and Sacrifice Pulse. So be sure to move it all. We’ll make sure to provide you a tutorial on how to do this as effortlessly and quickly as possible.
But, don’t worry, all other tokens that you are airdropped will not be deleted and can stay put. So, for example, if I receive a copy of HEX on the PulseChain, there is no need for me to move those HEX tokens as within 30 days; they will not be clawed back.
Not your keys, not your coins…
The tokens must be in your own wallet for which you control your own private keys. If you don’t control the keys, the centralized exchange or wallet provider will receive the airdrop, not you. If you did not understand this then you’re about to learn something very important. Any tokens held on an exchange such as Binance, Coinbase, Kraken or other are owned by that exchange’s address. Thus, your assets are in their wallet. Legally speaking the assets are yours, but they are as vulnerable as the weakest security link of that exchange, which may be your password, a bug on the exchange or another human’s mistake.
Get your assets out of the exchange by sending them to your wallet, such as MetaMask. Then secure your seed phrase and you’re ready for the airdrop!
How to instructions:
Have your assets on your wallet
Have your assets on the Ethereum network
Receive airdropped replicas of your tokens on day 1 of PulseChain mainnet launch
Make at least one transaction with all your PLS during the first 30 days. All other tokens can be left untouched in your wallet.
We hope that this article shed light on all your questions regarding the PulseChain airdrop. If anything is left unanswered please let us know!
*Please note that the above does not continue financial advice*
