# Token Airdrop
We created the airdrop to get Morpher Tokens into the hands of as many people as possible. The goal is to give away at least 50% of all initial Morpher Tokens. Our mission is to democratize finance, and that's hard to accomplish if you put a price tag on entry. It's another way we're trying to remove barriers from trading and investing.
The Airdrop started with 2000 tokens for the first 10,000 people to successfully sign up. As more users sign up, the rewards decrease to reflect the limited initial supply. First users to sign up and pass KYC are also more likely to get earlier access to the investment app. The rewards are limited to one claim per person.
First few levels of token rewards:
|User Milestone||Token Reward||Referral Bonus|
# Invites and Referrals
# Referral Bonus
Users get a custom invite link after signing up that they can share. Every friend that signs up after visiting that link earns you a referral bonus. There is no limit to how many friends you can refer, so there's no limit to how many tokens you can earn until supply runs out.
# Tracking Referrals
You can see all your invites and their current status on your Airdrop Status page. Here is a breakdown of all the possible statuses:
- Started: Signed up but did not complete KYC.
- Verifying: Signed up and finished KYC, waiting on our manual review.
- Complete: All done and counted towards your referral bonuses.
- Error: Failed KYC, most likely did not meet one of the eligibility requirements.
# How It Works
- Confirm Your Email
- Submit a valid email for the Airdrop and app.
- Prove You're Human
- Complete basic KYC so that we can confirm you're a real person that meets all the Airdrop eligibility requirements.
- Create a Trading Account
- The first two steps are all that's needed to claim your Airdrop reward. Once the platform is live, you'll need to connect/create a crypto wallet so we can send the tokens to your Ethereum address. See Redemption & Withdrawal for more information.
To be able to register for the airdrop you need to:
- Have a valid email
- Be over 18 years old
- Have valid ID to pass a KYC/AML check
- Live outside the following countries: United States, Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People's Republic of Korea, Ethiopia, Ghana, Guam, Iran, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.
We understand this is undesirable for fans of decentralization. If you don't want to provide KYC to trade, please look at Mainchain Trading. You will not be eligible for the Airdrop or the trading app, but you can acquire Morpher tokens on your own and trade through the Morpher Protocol directly on Ethereum.
# Why KYC is Required
We perform KYC per regulatory and compliance requirements. These requirements are set by government regulators around the world, just checking IP or a utility bill is not enough. This is also how we can make sure majority of Airdrop tokens are given out to real people instead of bots or scammers.
# What's needed for KYC:
- A current and valid ID (such as passport, driving license, or national ID)
- A smartphone or web camera to take moving video of your face to match with your ID
Having trouble? See KYC Verification Help.
# Token Value & Supply
Initially Morpher Tokens were estimated $0.03/token based on a private pre-sale. After token creation, the tokens will be listed on centralized and decentralized crypto exchanges and be subject to change. Morpher Tokens will from then on be priced by trading activity on these exchanges. We can't guarantee the tokens will have the same price by the time you receive or liquidate them. In general Morpher has no guarantees over token value and price.
# Initial Supply and Allocation
During the token creation event, we will generate 1 Billion tokens. They will be allocated as follows:
|20%||Investors & Team|
Token supply is not fixed and can increase or decrease (see Token Economics).
# Redemption & Withdrawal
Product Roadmap will have the latest updates on timeline. We expect to onboard the first users end of May and officially go live in June.
# How will redemption work?
By claiming the Airdrop you've already completed all the necessary steps for opening a trading account. The last step will be creating or connecting a crypto wallet. We will email you to take that step when the platform launches. Your Airdrop reward will be deposited on our sidechain. You can use your tokens to place trades right away.
# Withdrawal Delay
To turn your tokens into fiat or other crypto, you need to have them on the Ethereum blockchain. Since we are doing Airdrop deposits on sidechain, we need to have a working bridge between our sidechain and Ethereum. The ability to sync states between the two blockchains is being built right now and should be ready in June. For more details see Sidechain.
# Converting to Fiat / Crypto
📣 Note: As mentioned above you might not be able to turn Morpher tokens into fiat or other crypto on Day 1, the blockchain bridge is still being built and tested.
You will be able to convert Morpher Tokens into fiat currency through one of our exchange partners. We are building out third-party crypto exchange support with the launch of the platform. We will keep an updated table of Supported Exchanges as we list on more exchanges.
Ability to buy and sell Morpher tokens directly inside the app is under development.
The Airdrop Terms and Conditions supersede anything mentioned here in this Guide.