The KARMA ICO (not really an ICO as you might be used to since it’s built on the EOS.io platform) is a blockchain project that aims to incentivize good actions from users around the world and reward them with KARMA tokens.
The project will be based around the KARMA app and was started by YouTube crypto personality Dallas Rushing. In my opinion, it’s definitely a first of its kind blockchain project.
Personally, I’m not sure if the project will succeed and how the future will look for the tokens in terms of value, but it could help cryptocurrency mass adoption as it mixes real-world application in easy to understand terms with a tokenized system.
Either way, I am an EOS token owner and will be getting KARMA tokens so I’m excited for the project to launch and get going. The project does have many more use cases such as Peer-To-Peer Payments, advertisers can run ads within the app as well as donate to disaster relief and many more.
Be sure to read the white paper here: https://docs.wixstatic.com/ugd/4bd50a_884529303142453390ea470acc2eef9f.pdf
Here’s a video with Dallas talking about his EOS dApp project.
Important note: Since this is an airdrop connected to EOS tokens, you’ll need to hold EOS in order to claim your KARMA tokens. You’ll also need to have your EOS tokens in a registered wallet (this is old news for EOS holders) since the KARMA airdrop snapshot was taken on 2 June 2018.
The airdrop will take place on 1 July. If you were not part of the genesis snapshot, you’ll have to purchase tokens on listed exchanges below in order to be part of the KARMA app.
Amount of tokens you can get: The ratio is 6:1 which means for each EOS token you own, you’ll be airdropped 6 KARMA tokens.
Total token value: Still to be determined when listed on an exchange. Tokens will be listed on Big.One, KKEX, Bitbns.
What you need for the airdrop: EOS tokens, a registered wallet before the snapshot of 2 June 2018.
Referral program: None currently with regards to the airdrop, but according to the KARMA platform, there will be ample opportunity to earn tokens. Be sure to read the one-pager here.
Furthermore, the EOS airdrop claiming process is a bit confusing. Dallas does recommend installing the SimplEOS wallet which will make the airdrop process easier. The video below talks about the wallet; use with your own caution.
For more details on the airdrop, read the KARMA blog post about it here: https://medium.com/@hello_11092/karma-airdrop-everything-you-need-to-know-6eae63d5680c
Dallas released a video earlier this week where he announced a very nice surprise. The Karma team decided to increase the initial airdrop tokens from a 6:1 ratio to a 9:1 EOS token ratio. In fact, if you read my recent EOS email alerts blog post, you should have already gotten the notification that you received your tokens – at least I did.
Here’s my proof:
I’m looking forward to the app becoming available in the near future. Here’s the video where Dallas announces the increase in token allocation:
Dallas talks about an update to the project here as well which is also a good intro of the project.