This describes the process by which Docademic will continue to distribute the remaining MTC that were allocated to the public and were not sold during the ICO or burned after the ICO.
Docademic allocated a total of 350,000,000 MTC from the total supply of 1,000,000,000 MTC to the ICO, that took place on the months of February, March and April 2018.
During that time, 85,631,471 MTC were given to the public via direct purchases, as bonuses or as collaboration rewards.
From the remaining 264,368,529 MTC, 150,000,000 MTC were burned leaving 114,368,529 MTC to be distributed among MTC holders as of May 08th, 2018.
These 114,368,529 MTC will be distributed monthly over a 2-year period, leaving 4,765,355 MTC per month to be distributed, starting May 31st, 2018.
The distribution process for the remaining MTC works as follows:
All MTC holders that want to participate on the airdrop MUST REGISTER their Ethereum address(es) on the web page that has been created for this purpose.
The web page can be found on the following URL: https://mtc.docademic.com/register.html
Address registration needs to be done only once per address for the complete duration of the airdrop.
All REGISTERED addresses that hold MTC by the last day of each month at 18:00:00 GMT will be eligible to receive the airdrop.
The airdrop will only work on addresses for which the holder has their private key.
Exchange addresses or smart contract addresses are NOT ELEGIBLE for airdrop.
A snapshot of the MTC addresses balances will be taken on the last day of each month at 18:00:00 GMT, after which, the monthly airdrop amount will be distributed proportionally between all registered addresses that have a positive MTC balance.
An ETH address will be assigned a "HOLDr" account status for a month if between the snapshots taken, there are NO MTC "OUT" transactions.
ETH addresses with a "HOLDr" account status will be awarded with "HOLDr" points.
ETH addresses start with "0" (zero) "HOLDr" points.
Each month that an ETH address maintains a "HOLDr" account status, it will be rewarded with 1 "HOLDr" point.
If in any month, an "OUT" transaction is made, the "HOLDr" points will be reset to "0".
MTC "IN" transactions are allowed and will not remove the HOLDr account status or accumulated "HOLDr" points.
The "HOLDr" points balance will represent a percentage ("HOLDr percentage") to be used in the airdrop calculations.
The amount of MTC that the ETH address has at the moment of the snapshot will be incremented by the "HOLDr percentage", leaving us with the "HOLDr balance" that will be used in the calculations of the airdrop for that account.
For example, if you held or increment your balance for three consecutive months, you will have 3 "HOLDr" points and your "HOLDr balance" will be 3% more from your actual MTC balance.
If an ETH address does not receive a "HOLDr" account status, its MTC balance and "HOLDr balance" will remain the same.
All "Holdr balances" will be added up to bring a "Total HOLDr MTC balance", and an "address participation" percentage will be determined by the relation between the "Total HOLDr MTC balance" and the current "HOLDr balance" for the address.
The monthly total airdrop amount (4,765,355 MTC) will be distributed among all registered addresses based on their "address participation" percentage.
Airdrops will take place on the following days after the monthly snapshot is taken and all calculations are done.
The amount of MTC to be considered for the monthly airdrop will be 4,765,355 MTC.
Any Ethereum (soft or hard) wallet where you are the owner and are responsible of the private key can be registered for airdrop distribution.
Docademic is not responsible for any MTC loss on addresses that do not allow for whatever reason the MTC to be moved or taken out.
Our monthly snapshot is final.
Docademic reserves the right to change this rules on the future pursuing the best benefit for every MTC Owner.