Decentralized encyclopedia startup Everipedia plans to distribute its proprietary tokens later this year through an airdrop.
Announcing the move Tuesday, the Wikipedia competitor said its IQ tokens will be part of an incentive program, which rewards users who improve the articles on the platform by curating information or editing previously published pieces. The startup will use the EOS network’s genesis snapshot tool to distribute the tokens.
To redeem their tokens, Everipedia members must register their existing EOS tokens with the startup. Any user who purchases EOS tokens through June 2018 will be eligible to receive the IQ tokens, according to the release.
Everipedia further announced that its network would go live after the EOS mainnet is released, though in the event there are multiple competing EOS mainnets, members of the community would be able to vote on which network Everipedia should choose.
Users should not have to share public keys or provide access to their funds to receive tokens, Everipedia said. The startup “is committed to transparent communications and security, which is why it has chosen to proceed with this method for the airdrop.”
Everipedia co-founder and chief executive Theodor Forselius said:
“We’re delighted to share the airdrop date with our growing Everipedia community and look forward to further disrupting and democratizing the traditional encyclopedia model.”
Encyclopedias image via Shutterstock
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.