Customers of Poloniex were receiving daily USDT-TRON airdrops since Tuesday. USDT holders on Poloniex have now received 4 daily USDT-TRON airdrops for a total of over $250k, according to retweet by Justin Sun by Poloniex Exchange.
According to this tweet, in week one, airdrops distributed as:
- On Tuesday 148,031 USDT
- On Wednesday 74,337 USDT
- On Thursday 22,288 USDT
- On Friday 22,292 USDT
Poloniex Exchange has passed 100% of the funds to its customers which they received from the Tron Foundation. This distribution was made based on the amount Tether the customers hold on Poloniex. To calculate the amount of distribution, four snapshots of each customer’s USDT balance were taken daily.
Until August 15, 2019, when this airdrop will complete, four daily USDT snapshots and one-time daily distribution will be made.
USDT is a cryptocurrency that is compatible with the Ethereum, Tron, and Omni and it was issued by Tether. Tron and Tether announced a collaboration in April 2019 and now, to promote the conversion of USDT to TRC20, Tron is airdropping approximately 30 million USD to the early holder of this campaign.
Poloniex is supporting this airdrop by enabling deposits and withdrawals of USDT on the Tron network and will credit the airdrop to eligible customers holding USDT. The customers received an amount in the airdrop was based on the amount converted by Poloniex. The Exchange is converting a percentage of USDT from the Omni network to USDT on the Tron network.
According to the rules given by Poloniex, airdrop began on July 14 and will end on 15 August. The accounts of customers will be credited based on the amount of USDT held in the Poloniex account. Then snapshot of every account will be taken every 6 hours and the exchange will make calculations for each account, compared to the total USDTs held by the users on Poloniex. The sum of 4 calculations will be airdropped into the account of that individual once a day. The account will be credited within 12 hours of Poloniex being credited from the Tron Foundation.
The calculation will be made as Tron APR schedule which is given as:
- APR was 100% from July 15 to July 16
- APR was 50% from July 16 to July 17
- APR will be 15% from July 17 to July 27
- APR will 3% from July 27 to August 15