Quick take:
- It will be issued on the Polkadot AssetHub to leading parachains and communities helping advance the Polkadot ecosystem.
- 12.5% of the supply has been allocated to parachains, to distribute their allocation to users as they see fit.
- PINKDROP, a casual web-based game that introduces Polkadot using a series of challenges, has been launched to create awareness about the PINK Community.
Polkadot has launched its Community Coin $PINK with a set supply of 2,300,001,221, which pays tribute to Polkadot’s RGB colour code. The memecoin will be issued on the the Polkadot AssetHub to leading parachains and communities helping advance the Polkadot ecosystem.
Chain-based meme coins have become popular recently with Solana-based dogwifhat (WIF), bonk (BONK), and book of meme (BOME) among those that ignited an industrywide interest.
Polkadot-based $PINK, which launched on March 21, 2024 is being airdropped to communities and builders as part of an initiative to boost ecosystem growth. According to the announcement, 12.5% of the $PINK coin supply has been allocated to parachains, and they will be allowed to distribute their allocation to users as they see fit.
To ramp up the awareness about $PINK, the studio that created the Great Escape game has built PINKDROP, a casual browser-based game that introduces users to the Polkadot ecosystem through a series of interactive challenges.
According to the gameplay description, players can compete to accumulate points, which contribute to their ranking on a leaderboard. The community has reserved 15% of the $PINK token for players, with those who complete tasks like sharing their leaderboard scores receiving additional allocation.
“Pinkdrop has proven extremely popular since launching in December. More than 225K game sessions were recorded by 14K unique addresses in the first four weeks,” Polkadot wrote in a press material shared with NFTgators.
A smaller airdrop tranche will see 2.5% of the $PINK supply allocated to gaming communities. 6 games participated, 3 Polkadot and 3 non-polkadot games including Shockwaves.ai, the company said in a press release.
This is part of Plkadot’s initiative to incentivise development and accelerate the adoption of GameFi on its network. Polkadot-based games Exiled Racers and Evrloot have also successfully applied for an allocation.
Polkadot plans to deploy a new version of Pinkdrop, featuring a league mode with daily tournaments and $PINK rewards.
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