If you’ve never participated in a crypto airdrop before, there is a pretty high-profile one coming up in about 8 days – and there’s only one day left to buy coins in order to participate. It’s the Oyster Shell (SHL) airdrop, which is adding a new type of token to the Oyster Pearl (PRL) ecosystem.
The Oyster Shell Airdrop: The basics
Just in case you don’t know what an airdrop is, it’s simply a free deposit of coins into crypto wallets of users who sign up in a number of ways – but it’s typically based on how much of a different coin you already own. In this case, you need to hold PRL coins in a wallet to receive SHL tokens, which will serve a new type of function on the decentralized dApp network that is the Oyster Protocol.
Similar to how NEO (NEO) and Gas (GAS) operate, these two tokens will be needed to run the network, launch dApps, work with the decentralized storage, etc.
So, how do you get the free coins?
How to participate in the Oyster Shell (SHL) Airdrop
In order to be counted in the list of Oyster (PRL) coin holders that receive SHL tokens when the actual airdrop happens, you need to – obviously – own some PRL coins. For every Pearl coin that they own on the date of the snapshot, which is happening tomorrow, holders will be awarded SHL coins on a 1:1 basis.
That means that every PRL coin you have will nab you one SHL coin, but you only get the amount based on how much you have tomorrow during the snapshot. Here’s what they say about the timing of the snapshot:
“The snapshot of PRL addresses will be done at block height 5436000, which is estimated to be on April 13th, 2018 at approximately 12 PM EST (GMT – 4).”
But hold on – because you need to have your PRL coins in specific places or it won’t work. Your tokens should be kept in a non-exchange wallet that’s supported by the airdrop, and Oyster (PRL) recommends My Ether Wallet as the best option for its holders.
Only one exchange will allow its users’ wallets to participate in the airdrop, and that exchange is KuCoin:
KuCoin will be supporting the Oyster Shell token (SHL) airdrop on all users who have Oyster Pearl (PRL) tokens on KuCoin.
— KUCOIN (@kucoincom) April 3, 2018
If you don’t use the right wallet or have the right amount of coins during the snapshot, then you might not be able to get your free SHL coins.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.