About Altair Airdrop
Altair Airdrop combines the industry-leading infrastructure built by Centrifuge to finance real-world assets (RWA) on Centrifuge Chain, with the newest experimental features — before they go live on Centrifuge Chain. It is the network for users who want to test the bounds of asset financing. From art NFTs to undiscovered assets — Altair enables users to tokenize their most experimental assets and finance them. Altair will be airdropping 61% of the total supply to CFG holders. The snapshot was taken at block number #6650475. Eligible holders will get free AIR at a ratio of 1 AIR : 1 CFG.
| Basic | Details |
|---|---|
| Token Name | Altair Airdrop |
| Platform | Own chain |
| Token Per Claim | 1 CFG : 1 AIR |
| Airdrop End | N/A |
| KYC | KYC Is Not Requirement |
| Whitepaper | Click Here To View |
| Max. Participants | Unlimited |
| Collect Airdrop | Click Here To Collect Free Airdrop |
Step-By-Step Guide
- Altair will be airdropping 61% of the total supply to CFG holders.
- A snapshot was taken at block number #6650475.
- Users who’ve held CFG in a normal account, a multisig account, or in a proxy account were eligible.
- Eligible holders will get free AIR at a ratio of 1 AIR : 1 CFG to their corresponding address on Altair.
- The rewards will be distributed once the Altair network is live and has secured its parachain slot.
- For more information regarding the airdrop, see this Medium article.
Mining Centrifuge Token
Altair Airdrop Centrifuge token is the powerhouse of the Centrifuge chain. As a substrate-based token bridged to Ethereum, it links Centrifuge with the biggest DeFi ecosystems in the world. Learn more about it in token summary.
CFG Economics
Value
As the utility of Centrifuge grows, the Altair Airdrop token will capture the growing value provided to users of the network through each of the utilities described below. This value is primarily captured in the use of CFG for transaction fees, and additionally through its importance in Governance of the network.
Token Supply
The token supply of CFG will increase in the short term as it is minted in order to pay for chain security, as well as to reward Centrifuge adoption. The current yearly mint rate of the token to reward and incentivize chain security through native Validators and Nominators is 3% of the current token supply. Additionally, tokens are minted in order to reward participation in Tinlake pools by both Asset Originators and Investors. Governance will re-evaluate these reward rates
on a regular basis, adjusting the mint rate down as the inherent utility of the network becomes sufficient to draw in users.
Current Snapshot, 425M CFG
Altair Airdrop initial Centrifuge Token Generation Event was executed by the Centrifuge Network Foundation. The initial distribution created 400,000,000 CFG, which was distributed to the Foundation and initial contributors, including; the core team, investors, and validators. Since genesis, roughly 25 million additional tokens have been minted as rewards for adoption.
Centrifuge Utility
Centrifuge is more than a traditional network token. Because basic functionality is delegated to Polkadot, the CFG token can be used for Centrifuge-specific utility. CFG functions differently, and is used for both standard network functions such as chain security and transaction fees – as well as unique utility including on-chain governance. Users have incentives to participate in the network through Centrifuge token rewards. As a result, the users of Centrifuge are directly
empowered to operate, control, and gain value from the platform.
Governance
CFG holders participate in governance through on-chain voting. Token holders have the ability to make decisions to upgrade the chain, including to add new functionality, or amend the fee structure. This includes control over how the chain implements the Tinlake functionality such as risk models, liquidity provision, and reputation for participating entities.
Transaction Fees
Altair Airdrop Transaction fees are paid in CFG by users for: anchors, NFT minting, Tinlake financing transactions, and many more functionalities to come. A percentage of transaction fees will be distributed to collator nodes, and the remainder will be burned at a rate set by on-chain governance.
Chain Security
Users pay fees for transactions in CFG. Collators, transaction aggregators for the Polkadot relay chain, receive a fraction of the fees for performing the work to execute the transaction itself as well as storage of chain data. These fees, together with an NPoS staking and CFG reward mechanism, incentivize an honest and distributed set of collators providing the censorship resistance needed for the network to function. The remaining CFG fees are burned at a rate set by on-chain governance.
The larger part of chain security will come from the Polkadot Relay Chain through the acquisition of a Parachain slot by locking DOTs, Polkadot’s native token. To secure the DOTs necessary to bid on a Parachain slot, Centrifuge will use a constant CFG auction mechanism. The use of the Polkadot Relay Chain for security will result in a higher security for Centrifuge at a lower cost than a Centrifuge-native set of independent validators. This allows those CFG to
instead be used to incentivize users to provide liquidity to the Tinlake Pools running on Centrifuge.
