Charlie Garcia
The Arena is a SocialFi platform designed for creators to connect, interact, and earn money within the Web3 environment. This application merges social networking with financial capabilities, enabling users to engage, trade, and gain rewards through various activities.
The platform has been steadily growing, currently attracting thousands of new users and facilitating countless trades every week. Recently, The Arena has launched its native governance token, $ARENA, which empowers users to take part in decision-making regarding platform governance.
ARENA token details
$ARENA boasts a total supply of 10 billion tokens, with each token granting one vote in the governance framework of the platform. The token distribution is as follows:
- V1 airdrop Rewards: 3.1B (31%)
- Incentives and Future Growth: 3.7B (37%)
- Treasury: 3.2B (32%)
Participants in the airdrop will receive an initial 15% of their allocated tokens at launch, with the remaining 85% released monthly over the course of a year. To claim the monthly unlocks, active participation on the platform is necessary.
According to their announcement, the airdrop claim will begin on October 29.
How to Participate in The Arena Airdrop: Step-by-Step Guide
- Access The Arena website.
- Log into The Arena using your X account.
- Create your profile by adding a bio and profile picture.
- Navigate to the wallet section. Ensure you have some Avalanche (AVAX) in your wallet. If you don’t have any, you can purchase them on Binance.
- Transfer Avalanche (AVAX) to your Arena wallet
- Buy a ticket from your profile section
- Engage with the Platform
- Create and share your own content (images, posts)
- Interact with the content of other users
- Partake in trading activities
- Keep up regular activity on the platform
- Check your points
- Points are allocated every Monday at 14:00 EST
- Keep track of your point accumulation via your profile
- Each point earned corresponds to 69 $ARENA tokens at launch
- Share your referral link to invite friends and gain additional free points.
How to maximize your Arena Airdrop points?
You can earn points through several activities:
- Regular Platform Engagement
- Maintaining Portfolio Value
- Ticket Price Level
- Inviting New Users
- Tipping Other Users
- Trading Volume
- Content View Count
Important Features and Timeline
- Token Launch Date: Tuesday, October 29, 2024
- Claim Portal: Will be available on The Arena platform
- Uprising Campaign: Ongoing until the token launch
- Staking: Available right after claiming tokens
- First Governance Vote: Anticipated within days of the launch
Upcoming Platform Developments
The development roadmap for The Arena includes:
- Possible Avalanche L1 development (dependent on first governance vote)
- Launch of a mini app store
- Exclusive social features for token stakers
- Improved tools for creators
- Integration with other platforms
Frequently Asked Questions
When are airdrop points distributed?
Points are given out every Monday at 14:00 EST.
What happens to unclaimed tokens?
Tokens that are not claimed within the 12-month window will be reallocated to the “Future Incentives and Growth” pool.
Can I stake my $ARENA tokens?
Yes, you can stake claimed tokens right away through the Token Portal to earn additional rewards.
What are the benefits of staking $ARENA?
Staking grants you voting rights in governance matters and will unlock premium features in the future.
The Arena merges social interactions with financial opportunities within the SocialFi environment. The forthcoming launch of the $ARENA token will provide users with governance privileges and platform advantages.
Users can optimize their rewards by actively participating on the platform and by understanding the mechanics of the point system.
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Overview
- Website: https://arena.social/
- Ticker: ARENA
- Total Supply: 10,000,000,000 ARENA