Liquidiums token generation event distributed 10% of token supply.
Liquidium, a digital asset lending and borrowing platform built on Bitcoin, surprised its users and Ordinal holders with an airdrop.
The unannounced airdrop marks Liquidiums token-generation event (TGE) and distributed 10% of the total token supply, with 7% of tokens awarded to Liquidium users, while 3% went to select Ordinals communities.
The team took a tiered approach to the airdrop, according to a snapshot taken on July 21. Users with more than 1,000 points received 400 tokens, and users with less than 1,000 points received 200 tokens. Ordinals holders received 117 tokens per eligible ordinal.
Liquidium is a peer-to-peer lending market built on the Bitcoin network where users can borrow against Ordinals and Runes, or loan their assets to earn yield. Bitcoin’s Ordinals and Runes are similar to Ethereum’s non-fungible tokens (NFTs).
On July 18 the platform announced a $2.75m seed raise from investors including Asymmetric and CMS Holdings.
The protocol went live on Oct. 26, and has recorded $125 million in cumulative volume since its launch. Liquidium hit an all time high of active users in May, when it surpassed 500 unique lenders, and 600 unique borrowers, on May 13.
The TGE marks the end of Liquidium’s Genesis Season, and the beginning of its Season 1, or phase one of user rewards, which is slated to last for two months.
The Liquidium token, whose ticker is LIQUIDIUM, is currently trading at a market capitalization of $35 million.