Anyone who has been trading long enough knows what an airdrop is. It is basically getting new currency as a reward for holding an existing cryptocurrency. The latest cryptocurrency which is all set to be airdropped to many traders is that of IGNIS – a cryptocurrency token that will be sent out for all NXT holders in the ratio of 1:0.5
Basically, this means that for every two NXT tokens that you hold, you’ll get 1 IGNIS tokens. 500 Million IGNIS tokens are all set to be airdropped. NXT Orders which are currently held will also be rewarded with IGNIS tokens. The IGNIS token sale is over and the only way to get these tokens now is to have them airdropped if you hare holding NXT.
This airdrop that is going to take place will be taken as per a snapshot of NXT Tokens on various exchanges taken on the 28th of December. This deciding Snapshot is planned for Dec 28th, 2017, at block height 1636363.
For those wondering what IGNIS is, it is the first child chain of the Ardor blockchain platform. The Ardor platform is designed in such a way that it supports multiple blockchains running at the same time, named child-chains. The Ignis child chain is the first such child chain of this system – which will use IGNIS tokens.
Bittrex has pointed out that during this process they will be closing their NXT wallet and no transactions can be done in or out of the NXT tokens for a short period of time. Bittrex, as well as perhaps other exchanges too, might stop trading of NXT to take a more accurate snapshot.
This is an unpredictable time in the markets and airdrops are indeed a good news. Especially considering a time when altcoins are rapidly fluctuating between red and green candlesticks, this comes as a great news, especially for those holding NXT tokens.