BlockBase Token Distribution Roadmap tl;dr Version
Ricardo Schiller - October 14, 2019
On the 8th of October BlockBase started its first airgrab. It was a very special event for BlockBase and it started with a bang. We got more than 4000 registrations in the first 24h. But we noticed also a lot of confusion about the airgrab. BlockBase's airgrab model is very different from what has been done before, and we're here to try to explain it in the most straightforward way.
Let's start with the FAQ
When did the airgrab start?
The airgrab started at the 8th of October at 12:00 EST.
How does the airgrab work?
It’s 24 airgrabs each with a duration of one month. Each one starts at the 8th and ends at the 7th of the next month.
How many tokens will be distributed in total?
45 millions of tokens will be distributed during the 24 months.
How many tokens will be distributed per airgrab?
1/7th of the remaining tokens to distribute will be distributed per airgrab.
Why did I receive 0.0 BBT tokens when airgrabbing?
It's normal to receive 0.0 BBT tokens when you enlist in the airgrab. Don't worry, you'll receive your tokens at the end of the monthly airgrab. You receive 0.0 BBT upon registration because we can only figure out how much to distribute per participant at the end of the monthly airgrab.
When will I receive my tokens?
Tokens will be distributed at the end of each airgrab, which will be after the 7th of every Month.
How many tokens will I receive on an airgrab?
The quantity of tokens distributed per participant is dependent on the number of participants. Furthermore, the distribution is random and follows a specific function. This is further explained after the FAQ.
What type of account can be used for the airgrab?
Just a normal account with sufficient RAM for receiving the tokens.
If I register on one airgrab, will my account receive tokens on all the remaining airgrabs?
No. Your account will only receive tokens on that airgrab and won't receive more tokens on any further airgrab.
Where is the airgrab available?
It's available on our site, on eosauthority, on bloks.io and on token pocket.
Where can I check if I'm listed?
You can check if you're registed at https://blockbase.network/airgrab/checkstatus
Token distribution model per airgrab
After each monthly airgrab ends - this is on every 7th of every month at 12:00 EST -, 1/7th of the remaining tokens to distribute will be distributed. There are 45M tokens to distribute during the 24 airgrabs, so the first airgrab will distribute 1/7th of it, which will be 6,428,571.43 BBT, and the second airgrab will distribute 1/7th of the remaining tokens to distribute, so it will be 5,510,204.08 BBT. Notice that the second airgrab distributes a little less than the first. This is because every airgrab distributes 1/7th of the remaining tokens to distribute. So every subsequent airgrab will distribute a little less than the previous one. The last of the 24 airgrabs will only distribute 185,497.61 BBT.
Token distribution per participant per airgrab
After each airgrab has ended, we have to calculate the amount of tokens to distribute to each participant. Just as a reminder, in order to qualify as a participant for one monthly airgrab, you have to have registered on that specific airgrab and the account used cannot have received tokens from previous BlockBase airgrabs.
BlockBase's token distribution does not distribute tokens evenly to every participant. In an even distribution, if you have 1,000 tokens to distribute and 1,000 participants, you would distribute 1 token to every participant. With BlockBase's token distribution this will not happen. This distribution follows a specific curve, where some get more and others get less. Who gets more and who gets less is chosen randomly. This means there's an element of luck in it.
Using the same example above, if you had 1,000 tokens to distribute and 1,000 participants, the luckiest participant would receive 4.129 tokens and the unluckiest one would receive 0.379 tokens. Also, 316 participants would receive more than 1 token, and the remaining 684 participants would receive less than 1 token. This means than about one third of the participants would receive more than one token and hence more than on an even distribution, but the remaining participants would receive less than on an even distribution.
At the moment of writing of this post, we have 12,549 participants registered, with an increase of about 300 new participants every day. But let's say no one else would register for this airgrab, and at the time of distribution we would have exactly 12,549 participants. Since this is the first airgrab, we'll be distributing 6,428,571.43 BBT. Using our distribution model, the luckiest participant would receive 2,134.662 BBT and the unluckiest one would receive 194.215 BBT.
Published by Ricardo Schiller