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Home » Evernode Airdrop: Uphold Announces Exclusive Token Distribution for XRP Holders

Evernode Airdrop: Uphold Announces Exclusive Token Distribution for XRP Holders

Hania by Hania
March 1, 2024
in Altcoin News, Crypto Exchanges
Reading Time: 2 mins read
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Evernode Airdrop: Uphold Announces Exclusive Token Distribution for XRP Holders
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Uphold, a prominent cryptocurrency exchange based in the United States has commenced the distribution of Evernode (EVR) tokens to qualifying XRP holders as part of an initiative closely linked to the XRP Ledger.

Eligibility Criteria and Distribution Process

Uphold, based in the United States, initiated the allocation of Evernode (EVR) tokens to XRP holders who are registered users of the platform. To participate in this offering, investors needed to furnish a snapshot of their holdings by the commencement of September and securely store their tokens on-chain.

The Evernode Airdrop Initiative

Evernode, operating as a layer-2 blockchain protocol tethered to the XRP Ledger (XRPL), announced its intention to distribute 5,160,960 Evers to specific XRP holders, with a primary focus on individuals possessing balances of up to 50,000 XRP. Uphold declared its support for the EVR token distribution in August of the preceding year, anticipating its official launch on the Evernode network, scheduled four months later.

Also Read: KuCoin Users Beware: Fake Airdrop SMS Raises Alarms Over Data Security

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Evernode Airdrop: Uphold Announces Exclusive Token Distribution for XRP Holders

Trading Restrictions and Future Prospects

Despite Uphold’s facilitation of the EVR token distribution, investors should note that EVR assets are not immediately tradable on the platform. Uphold emphasized that EVR will only become tradable once it meets the platform’s stringent listing criteria and liquidity requirements.

Previous Initiatives and User Engagement

This isn’t Uphold’s first foray into inclusive offerings tied to Ripple’s native coin. In the past year, the exchange distributed thousands of XRP tokens to fortunate users, with the only requirement being the completion of at least $20 worth of eligible trades on the platform.

XRP’s Popularity on Uphold

XRP has garnered significant traction among Uphold clients, particularly towards the end of the preceding year. It emerged as the most traded cryptocurrency during the week of November 18 to November 25, with nearly 75% of users acquiring varying amounts of XRP.

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Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

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