SKR surges 72% following Solana Mobile token drop

SKR tokens have surged over 77% to $0.01185 following the January 21 launch of Solana Mobile’s 1.8 billion SKR airdrop for Seeker phone users and developers. The token is expected to play a central role in staking and governance, allowing holders to delegate tokens to help secure and scale the mobile ecosystem.

CoinGecko’s data shows that the SKR token has risen 77.8% over the past 24 hours, with prices ranging from $0.005423 to $0.01313. The market cap also jumped $55.9 million to $66.12 million, while the 24-hour trading volume climbed from $3.3 million to $19.08 million. Slightly over 50% (~5.7B SKR) of the total SKR supply (10B SKR) is currently in circulation.

Meanwhile, the 1.8 billion tokens set aside for the latest airdrop are part of the 30% of the total SKR supply earmarked for airdrops. The 30% also includes the initial distribution to eligible Seeker phone users and developers. 

The SKR’s allocation plan also includes another 25% reserved for partnerships and growth initiatives, and 10% for launch activities and liquidity support. There is also a 10% community treasury intended to fund the ecosystem’s future proposals, while the remaining token supply will be split between Solana Labs (10%) and Solana Mobile (15%).

Solana Mobile kicks off anticipated SKR airdrop

Solana Mobile’s SKR airdrop went live on January 20 evening, around 9 PM ET, as part of the broader strategy to support the Seeker smartphone ecosystem. The airdrop comes after months of building up hype around the Seeker phone, which Solana Mobile has pitched as more mature than its predecessor, the Saga.

Allocations for users eligible through Seeker phone ownership are split into five tiers: Scout, Prospector, Vanguard, Luminary, and Sovereign. Each user in the Sovereign tier will receive 750,000 SKR tokens.

Meanwhile, over 100,000 Solana Mobile users and app developers are set to receive airdrops of the SKR token. An allocation tracker is also live, allowing users and developers to check their seed vault wallets to confirm how many SKR  tokens they will receive in the January 21 airdrop. The total allocations include 1.82 billion SKR to 100,908 users and over 141 million SKR tokens to 188 developers, according to Solana Mobile. 

Following the airdrop, “Seekers” will be able to start staking SKR immediately to earn rewards or participate in decision-making processes. Solana Mobile adds that Seeker phone users can stake directly to Guardians in the Seed Vault Wallet or stake SKR on the web through the SKR staking web experience.

Solana Mobile bases reward distribution on Seeker phone engagement

According to Solana Mobile, rewards distributed to users and developers are based on their engagement with the Seeker phone. The rewards distribution will also depend on the users’ engagement with the Solana decentralized app store and on-chain activity during Season 1 of the SKR airdrop. 

Meanwhile, Solana Mobile touted over 150,000 pre-orders in the build-up to Seeker’s launch, but the latest figures reveal that only 109,000 users are eligible for the airdrop. Eligible Seeker users can claim SKR directly through the Seed Vault Wallet on their devices by completing the claim process under the Activity Tracking tab. 

On the other hand, a small Solana balance is required to cover network fees during the airdrop distribution. Users will have 90 days to claim their allocations; otherwise, they will be returned to the airdrop pool.  

Developer teams that built approved apps on the Solana Mobile dApp Store during Season 1 can also claim their SKR allocations through the Publishing Portal. Solana Mobile describes the move as a reward for early builders who brought the Seeker platform to life. 

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