- R0AR NFTs have seen a bump in their floor price as the Pudgy Penguin-style airdrop approaches.
The R0AR Executive Society (ERS) NFT collection holders are preparing for the first of many airdrops set out in the project’s roadmap, with the snapshot date set for May 10th. The ERS NFTs are 10,000 Ethereum-based tokens that form part of the broader R0AR decentralized finance ecosystem. The NFTs are designed to offer a broad range of DeFi use cases, including access to exclusive airdrops.
The airdrop will see $1R0R tokens dropped to wallets holding ERS NFTs. The $1R0R token is the R0AR ecosystem’s native utility token and has experienced a blistering rally over the past few weeks, which has pushed its market capitalization to just under $300 million.
The R0AR team explained in an AMA that this airdrop is a thank you to the community for supporting the project. They went on to point out that future airdrops will be even bigger. The approach is similar to that seen during the Pudgy Penguins airdrop that saw some NFT holders bag well over $20,000 in tokens.
There’s still time to join the airdrop by purchasing a R0AR ERS NFT on OpenSea before the snapshot date. The ERS floor price has been steadily growing since the airdrop was announced and the $1R0R rally began.
Executive R0AR Society (ERS) NFT Holders Prepare for Airdrop
The R0AR airdrop was confirmed in an AMA where details about how the amount of tokens holders could expect to receive were discussed. Unlike many airdrops, the R0AR team has provided absolute clarity, going beyond simply stating May 10th would be the snapshot date.
The amount of tokens someone can expect to receive will be dictated both by the number of NFTs they hold overall and the number of wallet addresses holding the NFTs. According to the team, an algorithm is being used to carefully calculate the airdrop in the most fair manner possible.
The first NFT held in a wallet will be eligible for the most tokens; fewer tokens will then be rewarded for the additional NFTs held in the wallet. The algorithm will calculate the amount of tokens to be awarded for each additional NFT in the wallet, with a maximum of 200 NFTs per wallet being eligible.
This creative airdrop structure is designed to encourage decentralization as it incentivizes holders not to collect all their NFTs in a single wallet.
As a result, many holders have decided to split their NFTs across several wallets, as this will maximize the amount of tokens airdropped to the address. The surge in the ERS NFT floor price suggests that collectors are rushing to add tokens to their wallets.
$1R0R Rally Hits 900% as Market Cap Approaches $300 Million
A smart contract drain executed by an external developer sent the $1R0R chart tumbling on the 16th of April. The Ethereum-based utility token crashed by over 80% as its market capitalization slipped to $30 million. The team reacted quickly and launched a buyback scheme to stabilize the price action.
The market reacted positively to the team’s plan, and since the drain in mid-April, a rally has seen a price increase of over 900% from its lows. As of writing, $1R0R’s market capitalization is on the cusp of breaking above $300 million.
Hundreds of new wallet addresses have added $1R0R to their holdings over the past few weeks, which has added to the bullish sentiment around the token. Buying pressure for $1R0R is still strong, and the airdrop has also increased demand for the ERS NFTs due to the airdrop.
$1R0R has seen its market capitalization surge over the past couple of weeks. Source: UniSwap
Airdrop Farmers Hunt For ERS NFTs on OpenSea
As the May 10th snapshot date approaches, a rush for ERS NFTs is expected. Newcomers to the R0AR community, as well as existing users, are looking to add the NFTs to their wallets to gain exposure to the airdrop.
Anyone can add ERS NFTs to their wallets through the official OpenSea page and they must not list them for sale. To do this, users will need a compatible Web3 wallet, such as MetaMask, and sufficient ETH to cover the purchase price of the NFT and any associated gas fees for the transaction on the Ethereum network.
The floor price of the ERS NFTs has been steadily increasing and is now at ETH 0.1, which is a considerable gain from the initial mint price. This increase reflects the growing demand for the NFTs as the airdrop snapshot date draws nearer.
This first airdrop has shown that the team is looking to reward community members where possible, and with more airdrops planned for the future, holding ERS NFTs offers ongoing potential benefits within the R0AR ecosystem.
Join The R0AR DeFi Revolution
Buy ERS NFTs: https://opensea.io/collection/executive-r0ar-society/overview
R0AR Homepage: https://www.r0ar.io/
Telegram: https://t.me/r0ar_community
X: https://twitter.com/th3r0ar
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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