Side Protocol has announced the $SIDE Genesis Drop, distributing 100 million $SIDE tokens to participants across several categories. This event is an opportunity for Bitcoin users, ATOM stakers, NFT communities, and other contributors to join the Side Protocol ecosystem ahead of its mainnet launch in January 2025.
The Genesis Drop follows a first-come, first-served (FCFS) registration model, ensuring early participants maximize their rewards. Registration requires a Bitcoin mainnet address (Taproot or Native SegWit), and unclaimed tokens will be redistributed within each category to increase rewards for participants who register promptly.
Key Details
Total Allocation: 100,000,000 $SIDE tokens
Release Schedule: 3-month release post-mainnet launch in January 2025
Registration Start: November 26, 2024, 10:00 AM UTC
Registration End: December 15, 2024, 10:00 AM UTC
Checker & Registration: genesis.side.one
How Are $SIDE Tokens Allocated?
Bitcoin Active Users
Bitcoin users are a core audience for Side Protocol. 30% of the Genesis Drop (30 million $SIDE tokens) is reserved for active Bitcoin users who meet specific criteria:
Eligibility: Users who spent over 0.005 BTC in network fees between January 1, 2023, and November 1, 2024.
Snapshot: Captures 764,909 eligible addresses, but only 50,000 addresses can register.
Reward: Each eligible address can claim 600 $SIDE tokens.
NFT Communities
To engage the most dynamic NFT communities, 10.5 million $SIDE tokens (10.5%) have been allocated to NFT holders from prominent collections spanning Bitcoin, Cosmos, Solana, and Ethereum.
Eligible NFT collections and their respective allocations include:
Celestine Sloth: 1,000 tokens per address, capped at 1,000 addresses.
Bad Kids: 1,000 tokens per address, capped at 1,500 addresses.
Pudgy Penguins: 5,000 tokens per address, capped at 200 addresses.
Milady: 4,000 tokens per address, capped at 250 addresses.
Mad Lads: 2,500 tokens per address, capped at 400 addresses.
Bitcoin Puppets: 4,000 tokens per address, capped at 250 addresses.
NodeMonkes: 5,000 tokens per address, capped at 200 addresses.
Ordinal Maxi Biz: 2,500 tokens per address, capped at 200 addresses.
Bitcoin Frog: 1,000 tokens per address, capped at 500 addresses.
Pizza Ninjas: 2,500 tokens per address, capped at 200 addresses.
Quantum Cats: 5,000 tokens per address, capped at 100 addresses.
Ruestone: 167 tokens per address, capped at 6,000 addresses.
P.S: Each collection has unique registration caps and claimable amounts.
ATOM Stakers
Side Protocol is built using the Cosmos SDK and CometBFT, making the Cosmos community an essential partner in its development. To show appreciation for this support, 15 million $SIDE tokens (15%) are reserved for ATOM stakers.
Stakers are divided into tiers based on their staking amounts:
Stake > 259.9 ATOM: Eligible to claim 750 tokens, capped at 3,500 addresses.
Stake > 50.05 ATOM: Eligible to claim 167 tokens, capped at 45,000 addresses.
Stake > 15 ATOM: Eligible to claim 65 tokens, capped at 75,000 addresses.
This allocation rewards Cosmos stakers for their role in supporting the Side Chain infrastructure.
Validators & Bridge Operators
Validators and Side Bridge operators who actively participated in Side Protocol’s testnet will receive 6.3 million $SIDE tokens (6.3%). These contributors played a critical role in testing and securing the Side Chain.
Validators: Will receive 6 million tokens, with distribution details to be shared in December via Discord.
Bridge Operators: Allocated 300,000 tokens as additional recognition for their efforts.
No registration is required for this category, as rewards will be distributed manually.
Testnet Insiders
The largest allocation of the Genesis Drop—32 million $SIDE tokens (32%)—is reserved for testnet participants who engaged in Side Protocol’s incentivized testnet campaigns. Out of 735,532 addresses from all three testnet phases, 83,582 submitted Bitcoin addresses to the Insider Point System.
Participants are categorized into 11 tiers based on their accumulated Insider Points, with higher tiers receiving larger token allocations. Unlike other categories, testnet registration is not first-come, first-served, giving all eligible participants sufficient time to register.
Public Goods Contributors
As part of its commitment to supporting public goods, Side Protocol has allocated 1 million $SIDE tokens (1%) to contributors in the ATOM Economic Zone (AEZ). Eligible participants include:
Donors to AEZ Quadratic Funding rounds on DoraHacks.
Voters in AEZ MACI Voting Rounds on DoraHacks.
$DORA stakers on Dora Factory’s mainnet.
This allocation rewards those who have supported decentralized initiatives across the Cosmos ecosystem.
Social Campaigns
An additional 5 million $SIDE tokens (5%) are reserved for whitelist airdrops and social campaigns, including partnerships with other platforms. Campaign details will be shared soon, providing more ways to engage with the Side Protocol ecosystem.
Why First-Come, First-Served?
The FCFS registration model creates an equitable distribution while incentivizing early participation. Caps on each category prevent over-allocation, ensuring a fair claimable amount per participant. If tokens in a category remain unclaimed, they are redistributed to others within that category, increasing rewards for those who register.
Important Notes
Bitcoin Address Required: Taproot or Native SegWit addresses are mandatory for registration.
Claim Date: $SIDE tokens will be claimable only after the mainnet launch in January 2025.
Public Sale: Before the Genesis Drop distribution, $SIDE tokens will be issued and sold via a public offering on Solana, targeting its large user base.
Mark Your Calendar
The $SIDE Genesis Drop registration opens on November 26, 2024, at 10:00 AM UTC. With registration caps and FCFS prioritization, early action is key. Be sure to visit genesis.side.one to check eligibility and register.
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