Sunday, April 18, 2021

Binance-Backed Crypto Startup Launches Airdrop of New Ethereum-Based Asset

A cryptocurrency startup backed by Binance Labs, Marlin Protocol, is launching an airdrop that features a new Ethereum-based digital asset.

The crypto startup is a scaling solution that focuses on alleviating throughput limitations, in order to boost the efficiency of various blockchains.

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Marlin Protocol Rolling Out Airdrop

Marlin Protocol is now starting to launch an airdrop of Marlin tokens (MPOND) to crypto holders that are already staking crypto assets on different blockchains.

Although the project plans to support various blockchains, it currently supports Matic Network (MATIC), Polkadot (DOT), IRISnet (IRIS), Cosmos (ATOM), Fantom (FTM), and Near, with its token distribution platform known as Flowmint.

According to the CEO of Marlin Protocol, Siddhartha Dutta, the project plans to distribute a significant amount of MPOND tokens over the next two years.

Dutta noted:

“20% of the genesis supply of Marlin token MPOND will be distributed to different blockchain communities over the next 24 months via FlowMint. Holders of eligible platform tokens who stake or delegate towards eligible validators shall be awarded MPOND which they may use to run a Marlin node or participate in governance.”

How To Participate in Marlin Protocol’s Network and Relay Data

According to the head of the Marlin Labs, node operators must stake MPOND to be part of the network and relay data.

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These node operators will thereby earn fees from users that relay content, coupled with subsidies in the form of Marlin tokens.

Moreover, MPOND holders can also participate in a decentralized autonomous organization, where the direction of the Marlin ecosystem can be influenced.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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