THELOGICALINDIAN - OMG saw a selloff afterwards investors abstruse that they had able for Boba Networks airdrop
The OMG Network badge comatose 25% afterward Boba Network’s advertisement that it had taken its airdrop snapshot.
OMG Holders Dump Tokens
Airdrop bliss has backfired for OMG badge holders.
Boba Network announced that it had taken the planned OMG badge holder snapshot Thursday night, condoning anybody captivation OMG tokens for an airdrop of BOBA babyminding tokens on Nov. 19.
However, it appears that abounding were captivation OMG tokens alone to authorize for the airdrop, arch to a abundant sell-off afterwards the snapshot was taken. Minutes afterwards the Boba Network tweeted that it had taken the snapshot, the OMG badge plummeted 25%.
Boba Arrangement is an Ethereum Layer 2 band-aid created by Enya in accord with OMG Network. The arrangement uses Optimistic Rollups to abate gas fees while advancement Ethereum’s aegis and decentralization.
In September, the Boba network announced that it would be decentralizing by airdropping BOBA babyminding tokens to all users who had transferred OMG tokens to Boba Network application its committed arch or were captivation OMG tokens in a non-custodial wallet or through assertive centralized exchanges. At the time of the announcement, the exact date for the airdrop snapshot was not revealed, alone that it would booty abode in the abreast future. As Boba Network appear its airdrop advanced of time, it incentivized captivation OMG tokens to authorize for the BOBA allocation.
Over the accomplished year, several aloft projects accept airdropped tokens to aboriginal users. In August, trading belvedere dYdX announced an airdrop to all addresses that had acclimated the agreement afore a agreed date. More recently, Ethereum Name Service airdropped its babyminding tokens to those who had registered a “.eth” area name through the application. Users who captivated assimilate their ENS saw their backing jump in amount as the badge rallied aloft $80; it’s back cooled off, with ENS trading at $54 at columnist time.
Disclosure: A the time of autograph this feature, the columnist owned, BTC, ETH, and several added cryptocurrencies.
