OMG to SNGLS Re-Airdrop Commencing 28.9.17 @ 15:00 CET

Analysis provided by Alethio

The snapshot of block #4304467 has taken place. This means OMG will be dropped into all SNGLS addresses contained in this snapshot. The “re-airdrop” will commence on Friday, September 28, 2017 at 15:00 CET. Because the snapshot has already happened, SNGLS no longer need to be held in those addresses to receive the re-airdrop.

OMG re-airdropped into SNGLS

A big thank you to the data scientists and devs at Alethio, a ConsenSys project dealing in analytics, the meaning of transactions, visual graphs like this and other cool stuff. They were a huge help in providing the snapshot by analyzing the entire blockchain from the SNGLS TGE (Token Generation Event) to block #4304467 to get a full picture of the SNGLS tokenized ecosystem.

On September 5th, SingularDTV announced the “re-airdrop” of its portion of OMG tokens (24,067 OMG) to all SNGLS token holders. Please note that the mechanism of this re-airdrop is different from the SNGLS token reward distribution.

SingularDTV will distribute its 24,067 OMG into addresses that held SNGLS tokens at block height #4304467 — this was when Alethio took a snapshot of all SNGLS addresses. This snapshot occurred September 22. Now that the snapshot has passed every SNGLS token holder can freely move (even trade) their respective tokens.

The actual re-airdrop will begin at 15.00 CET on Friday, September 29th and will take a few days to complete, as it will involve sending about 4,000 transactions (SingularDTV will pay all gas fees). The rate of distribution will be: 0.000024067 OMG per 1 SNGLS (24,067 OMG to 1 Bln SNGLS tokens).

SNGLS Reward Distribution

The SingularDTV SCS (Smart Contract System) has reward functionality already built-in. Therefore, when future ETH rewards are pushed to SNGLS addresses, it happens all at once — unlike the OMG re-airdrop. The SNGLS Reward Contract acts like a bucket. Each time an ETH reward is added to it, addresses holding SNGLS can withdraw their reward proportional to the % of tokens they hold. For example, if you hold 1,000,000 SNGLS, that is 0.1% of the total amount of SNGLS in existence. Therefore, you’ll receive 0.1% of the total amount of ETH distributed in the Reward Contract.

If you transfer your SNGLS after the reward has been issued, you can still withdraw your reward. That means as long as you have access to the wallet, or the private key of the wallet that holds your SNGLS, you can benefit from the rewards. It’s good to mention that the SingularDTV Light Wallet has the simplest mechanism to withdraw rewards — with just a simple click of a button (make sure you have a small amount of ETH in the wallet to pay for the Gas Transaction). There are also other Ethereum Wallets that have implemented the SNGLS Reward Withdraw Function; MyEtherWallet.com, Ethereum Mist Wallet/Browser, Parity.

SNGLS TOKENS

SNGLS tokens are multifaceted as they represent 4 primary things (see more here); property, utility, income/rewards and fungibility.

The rewards distribution is one of the main functions programmed into SNGLS tokens. The Rewards Model is an integral part of the Decentralized Economy SingularDTV is building.

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