Two months after the launch of its mainnet, Fuel Network has released its native token $FUEL to the community today. As a part of the launch, Fuel Genesis airdrop participants can now claim $FUEL to their wallets.
In this article, we will provide you with the complete details of the Fuel Genesis Drop, including the participation process and eligibility criteria. Additionally, we will attach the claiming and withdrawal guides.
What is Fuel?
Fuel is an execution layer for Ethereum that offers next-generation speed, security, and scalability. It allows multiple transaction processing, supports a variety of assets, and has a developer-friendly interface.
The native token is $FUEL which is mainly used as a reward token and governance token. The ecosystem claims that it eliminates various recurring issues in blockchain technology. The testnet was released on May 30, 2024, and the mainnet went live in October 2024.
Who Are Eligible For the Airdrop?
The airdrop is solely reserved for those who interact with Fuel in various means such as investors, testnet users, and community members. There are no country restrictions or age barriers to partake. Let’s get into the details.
- Phase 1 Pre-Depositors: All the users who participated in Phase 1 of the Fuel Points Program are eligible. The depositors should deposit the assets for at least 7 days and should have a minimum of 7 points. Also, they should bridge all the assets to Fuel ignition.
- Testnet Users: Fuel’s testnet was launched on May 2024 through Sepolia. Participants of the testnet who were active for a minimum of 16 days and have done at least 16 transactions are eligible for the drop. The system will take a snapshot of July 15th data and check the engagements from May 30, 2024.
- NFT Connoisseurs: All the 5,944 unique NFT holders who secured them on December 13th’s Fuel Ignition will be able to participate in the drop. The NFTs include Monkees, Pengus, Rocks, Pumps, Executors, and Fuel Dudes.
- Fuel Bridgoors: All the participants who bridged qualified assets of at least 300 dollars are eligible. The snapshot until December 13th will be taken to assess this. All the newcomers and heavy users will be rewarded if they are eligible.
- Ecosystem Glass Eaters: The individuals who made their contributions to the ecosystem in various other ways will be rewarded FUEL after a verification. This includes ecosystem builders, auditors, Fuel researchers, social media moderators, and early Fuel ambassadors.
- Open Source Community: In the airdrop campaign, additional FUEL will be allocated to those who created commits in open source registries. To become eligible, a user should at least make 5+ commits and merge PR into Fuel’s repos as an external developer.
- Fuelet Magisters: The early members of the community, the users who initiate various developments in the network, are eligible. They should at least complete 8 weeks in Fuel as passionate members.
Allocation Details of the FUEL Airdrop
Among the total supply of 10 billion FUEL, 1 billion (10%) is allocated for the airdrop. The users can also earn through community expansion rewards (5%) and incentives (5%), making the total rewards 20% of the total supply. Let’s break down the 1 billion allocation for Fuel Genesis Drop.
- Phase 1 Pre-Depositors: 287,000,000 FUEL
- Testnet Users: 64,200,000 FUEL
- NFT Connoisseurs: 125,000,000 FUEL
- Fuel Bridgoors: 200,000,000 FUEL
- Ecosystem Glass Eaters: 138,800,000 FUEL
- Open Source Community: 175,000,000 FUEL
- Fuelet Magisters: 10,000,000 FUEL
How to Claim the FUEL Airdrop?
You claim the drop by visiting the airdrop page. The Phase 1 Pre-Depositors should connect the migrated Fuel Wallet. Also, don’t refresh if you are in a queue after you press the “Claim” button. Sometimes, you have to wait 10 minutes in the queue to complete the transaction. Here is a step-by-step detailed guide:
- Visit the official website of Fuel Network and navigate to the “FUEL Genesis Drop” or access it via app.fuel.network/drop/
- Connect your Fuel Wallet, Ethereum Wallet, or GitHub account you used to interact previously with the network.
- After connecting, it will show your eligibility. If you are eligible, proceed by clicking the claim option.
- After claiming, FUEL will be credited to your wallet within 10 minutes.
How to Withdraw Your FUEL Earnings?
The FUEL will be transferred to your crypto wallet. You can connect it to a decentralized exchange with enough liquidity such as Uniswap (ETH L1) and MIRA. It is also available for trading in centralized exchanges like Bybit and Bitegt.
Instead of selling, you can stake your FUEL to earn some passive crypto. Fuel’s staking protocol supports EVM, SVM, and the traditional wallets that you can connect and stake to receive rewards directly.
Airdrop Launch Date & End Date
The Fuel airdrop was unveiled on December 17th after many months of speculations and rumors. There is no fixed conclusion date, and it will continue until the last eligible person claims his airdrop.
Conclusion
If you are eligible and unable to claim the tokens, please contact the administrators and raise a concern. You will likely get a Typeform to fill out. Also, try to stake or HODL instead of selling the tokens because of its future potential.
If you missed this airdrop, follow the official X (Twitter) handle of Fuel Network to stay updated with upcoming airdrops and other competitions. Finally, do your own research before delving into any web3 applications in general.
