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Layer-2 Network Fuel to Airdrop 10% of New Token Supply to 200K Wallets
Fuel claims to be the fastest and cheapest Ethereum rollup.
Dec 17, 2024, 4:17 p.m.
What to know:
- The FUEL token has a maximum supply of 10 billion tokens, with 1 billion tokens being airdropped to early users.
- It claims to be the fastest and cheapest Ethereum rollup, with up to 600 transactions per second (TPS).
Fuel, a layer-2 network built on Ethereum, has announced that airdrop claims for its native token will open on Dec. 19, with ten percent of the total supply being allocated to more than 200,000 eligible wallets.
The window for airdrop claims will run for one month. 28% of the airdrop allocation will go to phase-1 pre-depositors, 20% to those who used the Fuel bridge, and 12.5% to "NFT connoisseurs."
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Fuel claims to be the fastest and least expensive rollup on Ethereum. It boasts a transaction processing speed of up to 600 TPS at around $0.0002 per transaction. Fuel achieves this via parallelization, state minimization and interoperability. For comparison, Arbitrum, the largest layer-2 by TVL, has averaged 27.6 TPS over the past 24 hours, while Base is averaging around 90 TPS, according to L2BEAT data.
The token will have a maximum supply of 10 billion and users on the network can still earn "points" for Fuel phase 2, which can eventually be converted to the FUEL token.
Fuel's block explorer shows that it has processed 154,000 transactions over the past 24 hours and has 63 active decentralized applications (dapps).
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