Airdrop

ParaSpace Launched Exciting ParaX Medal NFT Airdrop Campaign Amidst Merger Milestone

Key Points:

ParaSpace initiates a major NFT airdrop, distributing 200 ParaX Medal NFTs to early migrators, with plans for 2,000 in total.
The merger of ParaSpace and Parallel Finance forms ParaX, a web3 super app aiming to enhance user experiences and drive blockchain adoption.
ParaX introduces a dual scoring system and a whitepaper unveiling plans for an intelligent execution layer, simplifying Web3 interactions for users.

ParaSpace, the NFT lending protocol, announced the distribution of the first batch of 200 ParaX Medal NFTs as part of its migration to ParaX on September 9. This marks the beginning of a substantial NFT airdrop campaign.

The ParaX Medal NFT airdrop initiative, previously outlined by ParaSpace, will encompass a total of 2,000 NFTs. The first 200 have been delivered to the initial migrating accounts.

An additional 1,000 NFTs will be airdropped to the top 1,000 migrating accounts, as determined by their Total Value Locked (TVL) and Borrowing and Lending (BNPL) activity. An extra 800 NFTs will be allocated to users migrating within the first week, on a first-come, first-served basis.

ParaX, formed through the merger of ParaSpace and Parallel Finance, aims to become a comprehensive web3 super app, providing infrastructure to enhance user experiences and boost mass adoption across various blockchain networks.

To express appreciation to users migrating to ParaX, the development team will introduce ParaX Medal NFTs, offering additional benefits within the ParaX ecosystem, including point distribution.

The transition to ParaX will introduce a dual-scoring system, tracking user activity on both platforms. ParaX will feature a new dashboard, monitoring historical project activity and new engagements.

ParaSpace has also unveiled the ParaX whitepaper, highlighting the ecosystem’s foundation. This includes account abstraction, meta user interface, zkVM, and cross-domain intent-based LLM, simplifying user interactions with Web3 applications through an automated, intelligent execution layer.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.