10M $IQT MEGADROP CAMPAIGN eligibility criteria EXPLAINED

Here you’ll find a comprehensive explanation of the eligibility criteria and mechanisms used in counting the rewards for participating in the MEGADROP campaign

9 min readJun 26, 2024

TL;DR :

Phase 1(6 March-13 March 2024) — Retro Drop — 1.700.000 $IQT rewards

Criteria:

· Conducted 10 + transactions on the platform before the snapshot;
· Be a holder of Smart Cats NFTs, SmartCat Loot NFTs or other GameFi NFTs (from the list) before the snapshot

Phase 2 (27 March — 5 June 2024) — MEGADROP — 10.000.000 $IQT rewards

Criteria:

· IQ Points for listings (min 11 transactions and 500 IQ Points collected to qualify);
· IQ Points for Daily Checkins (min 11 transactions and 500 IQ Points collected to qualify);
· Participating in HODL Boost (min 60 HODL points collected to qualify);
· Staking 500+ $IQT;
· Referrals (refs with 2–9 txs and 10+ txs counted separately);
· Galxe quests (5–7 weeks participated = +10% airdrop bonus; 8 weeks = +20% airdrop bonus);
· Zealy Campaign (first 100, 500, 1000, 1500 in the leaderboard);
· Discord roles (reward for the highest role obtained among LVL and IQ roles)

Claim Live: 15:00 UTC 26 June — 15:00 UTC 17 July 2024

Phase 1 — instant claim

Phase 2 – 10% instant claim, rest 90% — cliff till 3 July and linear vesting for 6 months

Let’s remember the path

The MEGADROP campaign, with a total prize pool of 11,700,000 $IQT, began on March 6, 2024, and lasted until June 5, 2024. The campaign consisted of 2 phases:

Phase 1 — Retrodrop (1,700,000 $IQT rewards): Rewards for active users on our V1 platform and supported other GameFi projects before the start of the campaign.

Phase 2 — Airdrop (10,000,000 $IQT rewards): For users participating in the 10-week campaign on Galxe, Zealy, and v2market.iq.space.

Reward Distribution:

We aimed to make the reward distribution process as fair and equitable as possible for all user groups, especially those who put in the most effort during the campaign. After a lengthy and meticulous approach, we developed a list of criteria and mechanisms that will best facilitate fair reward distribution among all users.

Rewards for each criterion are allocated separately. If you qualify for at least one criterion, you are guaranteed to receive the reward specified for that criterion.

The reward distribution for participation in the MEGADROP campaign begins on June 26, 2024, at 15:00 UTC. The claiming process will occur on the Polygon network. To claim your rewards, you will need to connect your MetaMask wallet or another browser-based Web3 wallet to the website via the link https://v2market.iq.space/profile/rewards.

Please note: only the link provided above is the official source for claiming rewards. Do not follow any other similar links, even if they are posted in comments under our posts. Trust only the official communication channels of IQ Protocol: Discord channel, Telegram channel, X account

After connecting your wallet, you will see which criteria you qualify for to receive rewards. To claim your reward, click the “Claim” button next to the respective phase and sign the transaction in your wallet.

The transaction cost is determined by the gas fees in the Polygon network at the time of the transaction. IQ Protocol does not charge any additional fees for the claim transaction.

Phase 1 rewards (March 6 — March 13, 2024)

Criteria:

Conducted at least 10 transactions on IQ Market before the snapshot in February 2024 (100 $IQT reward).

2. Hold Smart Cats NFTs or SmartCat Loot NFTs (75 $IQT reward).

3. Hold one of the following collections (75 $IQT reward):

Aether: Trading Card Game | Trading Cards
Arena Games | Arena Games Genesis NFT
Captain and Company | Ships
Champions Ascension | Prime Eternals, Elemental Eternal, Pets of Massina, Imperial Gallery
Crazy Ants | Crazy Ants Collection
Crypto Guilds | CG Heroes V1, CG Heroes V2, Crypto Guilds Items
E4C | E4C Rangers Ultimate Edition, E4C Rangers Gold Edition, E4C Rangers Rangers Edition, E4C Rangers Nana
Fancy Bears | Fancy Bears
Fight Me! | Fight Me
Flight Force 4 | Gen Zero X-ions, OG Defenders
GENSO Meta | GensoKishiOnline, GensoKishiOnline.v2, GensokishiOnline.Items
Kryptomon | Kryptomon V2
Light Cycle | WL’d Addresses
Mars4 | LAND Collections
Medieval Empires | Medieval Empires Lands
Nifty Island | Nifty Island: Legendary Pistols, Nifty Island: Legendary Palms, Nifty Island: Ultra Blades
Nitro League | Nitro League Exclusive Rewards
Outer Ring | Armour, Weapon, Clanship/Spaceship, Land Vehicle
Planet IX | Gold Badge Holders
Salty Sharks | Salty Sharks Uprising
Tales of Elleria | Heroes
Terra Virtua | Guardians, Pacific Rim Legacy Collection, Monster Zone Land
The Red Village | The Red Village Champions, Blood Portal, Bones
Undead Blocks | Undead Blocks Apocalypse Collection, Undead Blocks Genesis Weapons
Underground Waifus | All NFT Assets
9Verse | Kollektive
Universus | Universus Android NFT, Universus Spaceship Boxes

The entire sum of rewards for Phase 1 can be claimed immediately and in full.

Phase 2 rewards (March 27 March — 5 June 2024)

Participants of Phase 2 of the MEGADROP Campaign will receive rewards for:

· IQ Points for listings.
· IQ Points for Daily Checkins.
· Participating in HODL Boost.
· Staking 500+ $IQT
· Referrals
· Galxe quests
· Zealy Campaign
· Discord roles

More details for each criterion:

IQ Points for listings

We allocated the largest reward pool to this criterion — 4,000,000 $IQT. IQ Protocol is an NFT-renting platform, and it was crucial for us that users familiarize themselves with our key features — listing and renting NFTs, to discover the ease and advantages of NFT renting compared to purchasing. By the 4th week, we gathered enough data and feedback to further improve our technology, suspending it for maintenance.

To fairly assess each user’s contribution regardless of when they joined the campaign and whether they experienced renting, we decided to reward all users for the associated action without which renting would not have been possible — Listing.

The minimum number of transactions to qualify for rewards must be at least 11. Additionally, the user’s total IQ Points must be no less than 500.

How users could meet this requirement:

During the campaign, each new week users completed quests on Galxe to receive 5 free MEGADROP NFTs for completing Galxe tasks (10 for the first week). On our V2 marketplace, users could list each NFT once ( performing 5 listing transactions per day), earning 100 (later 300) IQ Points per day. Therefore, meeting the minimum requirement only required listing transactions over a total of 2 days (mid-campaign).

The amount of rewards that the user receives for Listings is calculated by the formula: IQ Points earned by the user for listings / Total number of IQ Points earned by all users for listings * 4,000,000 $IQT

2. IQ Points for Daily Check-ins

This category was created as an additional source of IQ Points earnings.

Minimum requirements for qualification are the same as for listings:

Minimum of 11 transactions (any)
Minimum of 500 IQ Points earned

Reward pool — 1,500,000 $IQT

The amount of rewards that the user receives for Daily Check-Ins is calculated by the formula: IQ Points earned by the user for Daily Check-Ins/ Total number of IQ Points earned by all users for Daily Check-Ins * 1,500,000 $IQT

3. Participating in HODL Boost

An event where users had to hold 25 or more $IQT tokens in their Polygon balance, earning 0.01 HODL points for each token per hour. Eligible users needed to earn at least 60 HODL points to qualify.

The conversion rate for HODL points to $IQT is 0.445 (0.445 $IQT for 1 HODL point).

Example: 1000 HODL points = 445 $IQT

Reward pool — 1,500,000 $IQT

4. Staking 500+ $IQT

Users who staked 500 or more $IQT tokens by the end of the campaign received a bonus on top of the total airdrop amount (for listings + daily check-ins + referrals + Galxe boost).

More information about the airdrop bonus for staking can be found in the article: https://medium.com/iq-protocol/iq-protocol-launches-iqt-staking-program-32ae1237161a

Total pool — 50,000 $IQT

5. Referrals

During the referral count, we discovered that some users used special programs and brought bots into the campaign. While most bots did not meet the criteria of “minimum 2 transactions” to be considered a valid referral and were eliminated, there were some that did, albeit exhibiting bot behavior. We focused on fairly rewarding users who invited real people, while still allocating some rewards for “users” who made the required minimum of 2 transactions.

For each referral who made a total of 2–9 transactions, the reward is 1 $IQT per referral.
For each referral who made more than 10 transactions and maintained activity over a long period, the reward is 42.94 $IQT per referral.

Example: If a user invited a total of 100 referrals, with 70 making fewer than 10 transactions and 30 making more than 10 transactions, their reward would be 70 $IQT for the first group and 1288 $IQT for the second. Thus, the user would receive a total of 1358 $IQT for referrals.

Reward pool — 1,200,000 $IQT

6. Galxe quests

Users who participated in 5–7 weekly quests within our Galxe campaign (including double weeks such as weeks 6–7 with Linea and 8–9 with Mantle) receive a 10% multiplier on the total airdrop amount for actions on the platform (excluding HODL BOOST and Staking 500+ $IQT).

Users who participated in all 8 quests receive a 20% multiplier.

Example: If a user’s total reward amount for on-chain actions is 1000 coins for listings, 500 coins for daily check-ins, and 500 coins for referrals, the total amount is 2,000 coins. In the first case, the user would receive 2200 $IQT with the multiplier (+10%), and in the second case, 2400 $IQT (+20%).

Reward pool — 650,000 $IQT

7. Zealy Campaign

A total of 1500 users from the leaderboard are eligible for rewards. Because user progress varies greatly at the top and bottom of the list, we divided it into 4 groups:

Zealy top 100 (1–100 users) — the first 100 users on the list receive 1000 $IQT each.
Zealy top 500 (101–500 users) — 750 $IQT each.
Zealy top 1000 (501–1000 users) — 500 $IQT each.
Zealy top 1500 (1001–1500 users) — 250 $IQT each.

Reward pool — 775,000 $IQT

8. Discord roles

Users who achieved LVL 5, LVL 7, LVL 10, LVL 13, and LVL 15 roles in our Discord chat receive rewards based on their highest achieved level.

LVL 5–100 $IQT
LVL 7–300 $IQT
LVL 10–500 $IQT
LVL 13–750 $IQT
LVL 15–1000 $IQT

Rewards are only given for the highest level achieved.

Reward pool — 147,000 $IQT

Additionally, holders of $IQT roles — IQ100, IQ250, IQ500, IQ1000, IQ3000, IQ5000 — receive rewards. To fairly reward role holders, we took a snapshot of $IQT holders on the Polygon network on June 7, 2024, at noon UTC. Wallet addresses that claimed a role but did not have the corresponding token balance at the snapshot time are not eligible for rewards.

Users who meet all requirements receive the following rewards:

IQ100–100 $IQT respectively
IQ250–250 $IQT
IQ500–500 $IQT
IQ1000–1000 $IQT
IQ3000–3000 $IQT
IQ5000–5000 $IQT

Users not included in the snapshot will soon lose their roles, and those losing IQ3000/IQ5000 will also lose access to IQ ALPHA.

Reward pool — 160,000 $IQT

Additionally, we allocated 18,000 $IQT to the most active community members in Discord and Telegram, who actively supported other users and answered questions from newcomers, making their first experience with IQ Protocol better.

The reward claim for Phase 2 will occur in several stages:

26 June — instant claim of 10% of rewards
3 July — the start of linear vesting of the remaining 90% of rewards over 6 months (full unlock on 25 December 2024)

The reward claim will be available for 3 weeks from the opening: from 15:00 UTC on 26 June 2024 to 15:00 UTC on 17 July 2024. All unclaimed rewards within the allotted time will be moved to the reward fund for future campaigns.

We are extremely grateful to all users who showed interest in our campaign for your patience, curiosity, and motivation in participating in the MEGADROP campaign. Thanks to your tremendous contribution to our project, we have the opportunity to become more experienced, efficient, and user-oriented, so that in the future we can delight you with more cool revolutionary products and an even better experience on our platform.