OpenLoop is a decentralized network that facilitates the sharing of excess, unused internet bandwidth and rewards users for this activity. This activity will help users earn points that can be tokenized during its upcoming airdrop. The testnet of the OpenLoop network is currently live, and the airdrop is expected soon after the mainnet launch.
The exact date of the OpenLoop network airdrop event is still unknown. However, this is a major part of the platform’s tokenomics and will surely be unfolded to reward the growing user base and early adopters of the OpenLoop network.
What Is OpenLoop Network?
OpenLoop is a decentralized network that strives to facilitate global connectivity across various decentralized networks by utilizing unused bandwidth by providers. The platform exists based on five core principles as explained below.
Monetizing Unused Bandwidth: OpenLoop is a secure platform where you can transform your unused bandwidth as a source of passive income.
AI-Optimized Connectivity: The OpenLoop network uses AI technology to deliver faster, smarter, and more efficient internet services.
Scalable Decentralized Infrastructure: The infrastructure used improves the scalability of the network at a lower cost.
Empowering Node Validators: Node validators simplify the node operations to make decentralized networks accessible to all so that everyone can benefit from them.
Privacy and Security: The OpenLoop network emphasizes privacy and security by integrating blockchain-powered transparency, zero-knowledge proofs, and end-to-end encryption.
How Does OpenLoop Network Work?
The OpenLoop network works through the OpenLoop Sentry Node Extension. This node extension facilitates the way bandwidth is shared among the users.
After you install the OpenLoop Sentry node extension on your device, the device automatically shares the unused bandwidth with OpenLoop’s decentralized network. OpenLoop uses advanced verification mechanisms such as proof of backhaul, location, and frequency to ensure the network remains secure, transparent, and trustworthy. This ensures the safety and security of user data. The users who share the bandwidth will be rewarded with incentives. Thus the bandwidth providers take part in the process of providing scalable, data-rich infrastructure for AI companies.
$OPL Tokenomics
$OPL is the native token of the OpenLoop network. There is a total supply of 1,000,000,000 $OPL tokens in the market. The token allocation of $OPL to meet the various use cases is given below.
- 40%: Node Validators
- 25%: Ecosystem Growth
- 15%: Marketing
- 12%: Community
- 8%: Team
How To Earn OpenLoop Points?
Earning OpenLoop points is an important activity on the platform that will ensure the airdrop rewards to you. There are two methods to harvest points on the OpenLoop network: Through node operations and referrals. You can earn OpenLoop points by maintaining active nodes to approve the activities on the platform.
In the case of your involvement with the OpenLoop nodes, different factors such as node uptime, number of data packets processed, and node reputation scoring are considered for awarding points. Be aware that participating in node operations may incur a gas fee, which is necessary for processing transactions and validating activities on the network.
Another method of earning points is by referring your friends to the OpenLoop network through dedicated referral links. The criteria for rewards based on the referral system are given below.
- You get 5% of all points generated by your F1 referrals (people you directly invited) on the OpenLoop platform.
- You can earn 3% of the points generated by your F2 referrals (people invited by your F1 referrals) through the OpenLoop points system.
- 1% of the points generated by your F3 referrals (people invited by your F2 referrals) will be allocated to you on the OpenLoop platform.
You can also multiply your points by 5X if you purchase a node. You will also receive bonus points for achieving these milestones in node purchase.
- Own 2 nodes = +5,000 points
- Own 5 nodes = +10,000 points
- Own 10 nodes = +25,000 points
- Own 50 nodes = +200,000 points
How To Participate In The OpenLoop Airdrop?
To participate in the upcoming OpenLoop network airdrop, download and install the OpenLoop Sentry browser extension. Register your account in it by providing the basic information. Connect a crypto wallet to this browser extension. Do all the given tasks promptly and refer as many friends as you can to earn maximum points. You should keep the browser extension active in the background at all times.
The Bottom Line
OpenLoop network’s airdrop is an amazing opportunity for anyone looking to venture into the world of cryptocurrencies. You can earn passive income and gain the native token $OPL in the upcoming airdrop event. So, install the browser extension and get actively involved with the OpenLoop network to gain a maximum of $OPL tokens.
