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$SIPHER Retroactive Airdrop

Retroactive Airdrop Claim to Genesis Sipher NFT Holders!

Hello Sipherians! We're happy to finally be able to announce that we will be performing a retroactive token airdrop claim to our Sipher NFT holders!

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We have been listening to our community members since day one, and we're all about giving back to those who have been supporting us. One of the main considerations as part of the release of the $SIPHER Token was to ensure that our earliest community members could get their hands on $SIPHER - which is especially important, as it will be used in key components of our game ecosystem. These past few weeks, we were working around the clock with our legal advisory teams to ensure that this airdrop was performed in a compliant manner, while exploring avenues to be as inclusive as possible for our community. Unfortunately, as part of our ongoing compliance efforts, we were unable to make an official statement about this process despite our plan to reward our community members with a $SIPHER Retroactive Airdrop. We hope you can understand why.

Why announce now?

We were facing some major hurdles as we were exploring avenues to be as inclusive as possible with the $SIPHER airdrop, given that $SIPHER would be used in components of our upcoming game ecosystem.

However, in our concluding legal meeting - despite our best intentions, we have reached the decision that US-based NFT holders will have to be excluded from the $SIPHER airdrop claim. This decision was made with due consideration given to the various options and their corresponding legal implications, alongside the landscape which SIPHER operates in.

As a result, since we have just tied up all pre-existing loose ends pertaining to the $SIPHER Retroactive Airdrop, and we can finally announce this to the community via this announcement.

Please continue reading below for further details regarding this free airdrop claim for Sipher NFT holders.

Retroactive airdrop, how does this work?

To promote a fair system that rewards those Genesis Sipher NFT holders that have been with us longer or since the beginning, the team has decided to airdrop based on tenure. This means that if you held a Genesis Sipher NFT longer, you will be able to claim more $SIPHER tokens. Conversely, if you held a Genesis Sipher NFT for less amount of time, you will receive less tokens.

How will Airdrop Eligibility be Determined?

Since the beginning of our journey we have been taking multiple snapshots at different points in time - starting with with the release of the INUs back in August 2021 and dating all the way until now. We will be utilizing these snapshots to identify Genesis Sipher NFT holders that have been holding ever since.

You can still be eligible for the airdrop if you purchased after a specific snapshot and before the next one, but you will receive less tokens than those who purchased and were holding prior to that particular snapshot.

Examples:

  • You owned a Sipher INU NFT after the date when Sipher INUs were released and have been holding throughout the subsequent snapshots → you will receive the highest amount of tokens.
  • You owned a Sipher NEKO NFT after the date when Sipher NEKOs were released and have been holding throughout the subsequent snapshots → you will receive a certain amount of tokens, but they will be less than INU holders that are described in the first example.
  • You owned a Sipher INU NFT after the date when they were released, held for a while, and sold throughout the way (you didn't hold throughout all snapshots taken) → you will receive a certain amount of tokens, but less than those that held throughout all snapshots

All tokens will be claimable on a "per-wallet" basis, and the amount of NFTs you hold will directly impact the amount of tokens you will receive. This means that if you have held 5 Genesis Sipher NFTs in your wallet based on the previously mentioned snapshots, you will receive more tokens than those that only held 1 Genesis Sipher NFTs for that same period of time.

In addition to this criteria, you must have at least one Genesis Sipher NFT in your wallet at the moment of claiming to be eligible.

How will I know if I'm eligible?

We will be sharing a list that includes all wallets that are eligible and the amount of tokens that you will be able to claim. Expected date for providing this list is Dec 14, 2021.

Afterwards, you will be able to see the amount you can claim within your Inventory in our website (https://sipher.xyz). Expected date for this feature will be announced later.

After I find my wallet on the list that will be provided, where do I claim?

You will be able to claim these tokens within our website https://sipher.xyz at the moment they are claimable (see "When will I be able to claim this token airdrop" section below).

When will I be able to claim this token airdrop?

Although you will be able to see how many tokens you can claim within our website earlier, you will be able to claim your tokens starting on 1st March 2022, and every month thereafter until 1st September 2022. Our NFT Holders will then have until 1st December 2022 to claim all tokens, after which any remaining tokens will put towards future reward programs for Sipherians.

Will there be a Lock-up or Vesting Period for these Airdropped Tokens?

Yes, these $SIPHER tokens that are eligible for claiming will be locked-up and they will also undergo vesting for a certain period of time. The lock-up period will be 3 months until 1st March 2022, and will then be subsequently linearly vested for 6 months. This is done with the best interest of all $SIPHER token holders and to prevent "token-dumping".

How many tokens will be allocated to Genesis Sipher NFT holders?

The amount of tokens that will be allocated to Genesis Sipher NFT Holders for this retroactive airdrop will be 0.5% of the total token supply (totaling a 5,000,000 $SIPHER allocation for NFT holders). This will be taken from the "Game Incentives & Marketing category" as was intended from the start.

How will these be allocated between Sipher INUs and Sipher NEKOs?

Given that Sipher INUs launched first, and the INU holders have been with us for a much longer time than NEKOs, we will be allocating 60% between all 10,000 INUs, and 40% between all 10,000 NEKOs.

This means that of the 5,000,000 $SIPHER tokens, 3,000,000 will be going to all Sipher INU holders, and the remaining 2,000,000 will be going to all Sipher NEKO holders.

Closing Remarks

The Sipher Team would like to once again express our appreciation and gratitude towards you, our Sipherians and community members. You are our key stakeholders and we could not have gotten this far in our journey without your support. We hope that you understand that we always have you in mind with any decisions that we make. However, there are times when there are external factors that may prevent us from fully acting upon, or publicly sharing these ideas immediately. We truly care about our Sipherians and rewarding our early supporters, and will continue to do so moving forward. Thank you ❤️