Memefi Snapshot: If you’ve been following the world of Telegram crypto games, then you’ve likely heard of MemeFi, one of the most popular tap-to-earn combat games.
With its upcoming token launch and airdrop, there’s been a lot of buzz around this game recently, especially since its developers made the significant decision to shift from the Ethereum Layer-2 scaling solution to the Sui network.
The focus of this article is to break down everything you need to know about MemeFi’s snapshot, its role in the token distribution process, and how it will impact players.
But first, let’s get to grips with what a snapshot actually means, especially when it comes to airdrops in the crypto space.
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What Does Snapshot Mean in Airdrop?
In the world of cryptocurrencies and airdrops, the term “snapshot” comes up often. But what exactly does it mean? Simply put, a snapshot is a record of the state of a blockchain at a particular moment in time. This is crucial when it comes to distributing tokens fairly, especially in the case of airdrops.
Airdrops are a popular way of distributing free tokens to eligible users. However, the challenge arises in how to determine who is eligible and how many tokens each person should receive. That’s where the snapshot comes into play. It captures the blockchain’s state at a specific time—typically a block height—so that the distribution can be made according to how many tokens users held at that exact moment.
Here’s a breakdown of how it works in an airdrop context:
- Timing: The snapshot is taken at a precise time, often referred to as the “snapshot block.” It records the balances of wallet addresses holding a specific token or coins at that block height.
- Eligibility: The snapshot determines who is eligible for the airdrop. Only those with a token balance at the time of the snapshot will qualify for the airdrop.
- Distribution: After the snapshot, tokens are distributed based on the data recorded. This ensures fairness, as the distribution relies solely on the information captured during the snapshot.
In MemeFi’s case, the snapshot will be taken before the final airdrop on November 6 to determine who gets how much of the MEMEFI token.
How Will MemeFi Coin Be Distributed?
Now that we’ve covered the basics of what a snapshot is, let’s dive into how MemeFi plans to distribute its newly minted MEMEFI token.
MemeFi’s developers have made it clear that the majority of the MEMEFI token supply—90%—will be distributed to users through airdrops and rewards for their engagement within the game. Here’s a closer look at how the distribution will work:
Tokenomics Overview:
90% of the total MEMEFI supply will go to airdrops and rewards for players.
10% will be reserved for other initiatives such as team incentives, project development, partnerships, and ecosystem growth.
Airdrop and Reward System:
MemeFi’s airdrop will be heavily tied to in-game activity, with players earning tokens based on their participation and success within the game. This includes engaging with various features, missions, and challenges in MemeFi.
In addition to earning through regular gameplay, players will also receive multipliers and bonuses for interacting with different parts of the MemeFi ecosystem, such as completing special tasks, using certain in-game items, or linking their accounts with other platforms.
The Snapshot for Airdrop Eligibility:
To ensure fairness, the developers will take a snapshot on November 6, recording each player’s activity and token balance at that time.
This data will be used to determine the allocation of MEMEFI tokens in the airdrop. The final airdrop details will be shared by November 8, giving players a chance to check their allocation through OKX Wallet before the official release on November 12.
What Does Snapshot Mean in Crypto?
As we’ve seen earlier, the term “snapshot” is used frequently in the world of airdrops, but what does it mean more generally in the context of cryptocurrencies?
In the simplest terms, a snapshot is the process of capturing and recording the state of a blockchain at a specific moment in time. This snapshot serves as a freeze-frame of all the important data related to the blockchain at that moment, including wallet balances, smart contract states, and other blockchain metrics.
Here are some key points to consider when thinking about snapshots in the crypto world:
- Block Height: A snapshot is typically taken at a specific block height. For example, “the snapshot will be taken at block 123456” means the snapshot will capture the blockchain’s state at that exact block.
- Blockchain Transparency: One of the advantages of blockchain technology is that it is transparent and immutable. This means that once a snapshot is taken, it can’t be tampered with, ensuring a fair and accurate record of who owns what at that moment.
- Usage Beyond Airdrops: Snapshots aren’t only used for airdrops. They can also be used in cases like:
- Hard forks: When a blockchain undergoes a major upgrade or split (e.g., a hard fork), a snapshot is taken to record the balances of all holders. This ensures that holders on the old chain can claim their new tokens on the forked chain.
- Staking Rewards: For projects that offer staking, snapshots are taken periodically to record the balances of staked assets, ensuring that rewards are distributed fairly based on each user’s stake.
In the case of MemeFi, the snapshot will record the activity and balances of players, determining how many MEMEFI tokens they will receive in the airdrop based on their participation up to that point.
What Does Tomarket Snapshot Mean?
While we’re on the topic of snapshots, it’s worth briefly touching on another notable Telegram crypto game—Tomarket. Like MemeFi, Tomarket is also gearing up for an airdrop, but it’s taking a slightly different approach.
The Tomarket snapshot is similar to the one being implemented for MemeFi but with a few variations. Here’s how it works:
- Snapshot Timing:
Tomarket will take a snapshot on a specific date to record players’ activities and token balances in the game. The snapshot will determine the distribution of TOMA tokens to players based on their participation and progress within the game. In particular, players must have reached a Bronze level in the game to qualify for the airdrop. - Gameplay Requirements:
Tomarket’s snapshot system is tied to leveling up and engaging with the game’s features. Just like MemeFi, the Tomarket snapshot aims to reward users based on how much time and effort they’ve put into the game. - Coin Earning:
Players can earn TOMA tokens in Tomarket by completing in-game tasks, leveling up, and collecting tomatoes—the in-game currency. These rewards are then counted during the snapshot to determine how many tokens players will receive.
While Tomarket and MemeFi both use snapshots in their airdrop process, Tomarket focuses on level-based rewards, while MemeFi rewards players based on a more comprehensive set of in-game activities and ecosystem interactions.
Conclusion: The Importance of Snapshots in Crypto Airdrops
Whether you’re a player in MemeFi, Tomarket, or any other blockchain-based game, understanding the role of snapshots in airdrops is essential for making the most of your participation. Snapshots help to ensure that token distributions are fair, accurate, and based on concrete data, providing a transparent and trustworthy way to reward users.
For MemeFi, the upcoming snapshot on November 6 will be crucial in determining how tokens are allocated to players in the MEMEFI airdrop. If you’ve been active in the game and earned rewards, this snapshot will capture your progress and ensure that your share of the MEMEFI tokens is appropriately allocated.
As the Sui network powers the launch of MemeFi and integrates with Telegram, players will soon see just how fast, cost-efficient, and smooth the experience can be. The snapshot process is just one part of this exciting transition, and with the token launch set for November 12, the future looks bright for MemeFi players looking to cash in on the airdrop rewards.
So, get ready to check your eligibility, maximize your in-game efforts, and ensure you’re in the running for those coveted MEMEFI tokens when the snapshot is taken. The journey is just beginning!
Are you ready for the snapshot? Let us know in the comments how you plan to prepare for the MEMEFI airdrop!
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