Presearch, a leading and long existing decentralized search engine emphasizing privacy, is ready to make a significant impact in the digital search landscape. As tech giants come under increased scrutiny, Presearch distinguishes itself with a strong commitment to user privacy and decentralization.
What is Presearch’s New Airdrop or Loyalty Reward?
Presearch is rolling out an airdrop program, the “loyalty reward,” distributing up to 50 million PRE tokens to its node operators and search stakers. This airdrop is planned over a six-month period, starting with a baseline snapshot of staked tokens as of December 29, 2023.
How Does the New Staking Incentive Work?
Presearch is offering additional incentives for new and existing stakers who create or increase their stakes. Such stakers will receive an additional 1% per month for a six-month period on the new or additional tokens staked, on top of the regular staking rewards.
Why is Presearch Minting Additional Tokens?
To support the airdrop and future growth initiatives, Presearch is minting 250 million new PRE tokens. This strategic move will:
- Continue to provide attractive token rewards for the increasing number of Presearch node operators.
- Ensure an ongoing supply of PRE tokens for rewards as most existing tokens are privately held or already staked.
- Support the introduction of new features such as search staking and AI-powered smart results, which have reduced the token supply.
- Address the rising demand from Kucoin’s staking platform, the burgeoning PRE token DeFi activities, and anticipated Presearch developments.
Details of the Airdrop
The airdrop and minting details are outlined as follows:
- Airdrop for Current Stakers: A 2% monthly distribution based on the December 29, 2023, staked amount for six months.
- Airdrop for New Stakers: A 1% monthly bonus for new stakers or any stake increases above the December 29, 2023, baseline.
- Minting Details: 250 million PRE tokens will be minted, with 200 million retained as ERC-20 tokens and up to 50 million allocated for the airdrop. A further 50 million Cosmos PRE-20 tokens will be minted over about a year to bolster the Presearch blockchain and reward validators.
When Has the Airdrop Took Place and What was the Snapshot Date?
- Snapshot Date: The critical snapshot of all staking accounts was taken on December 29, 2023, establishing the baseline for the airdrop calculations.
- Subsequent Snapshots: Additional snapshots will be taken randomly each month to capture new stakers and verify the continuation of original stakes.
- Airdrop Distribution: Airdrops are scheduled to take place near the end of each month, reflecting the stakes captured in that month’s snapshot.
How much PRE will be Airdropped?
- For Existing Stakers: Approximately 36 million PRE tokens are designated for current stakers (2% for six months of 300 million).
- For New Staking Activity: An estimated 3 million PRE tokens are reserved for new staking activities.
- Airdrop Cap: The total cap for the loyalty reward tokens is set at 50 million.
By adopting these new strategies and with the upcoming launch on the Cosmos network, Presearch anticipates a forward-looking year, offering a decentralized alternative in the search engine market to its community and partners.