The eosDAC airdrop snapshot is scheduled to take place on the 15th of April, 2018 at 01:00:00 UTC and all EOS token holders in private wallets and supported exchanges that have over 100 EOS tokens balance at the time of this snapshot will automatically get eosDAC on a 1:1 ratio.

Token distribution will not happen until late April/early May and tokens are automatically airdropped to EOS Token-Holder Ethereum and Exchange wallets.

How To Claim Your eosDAC Tokens?

The eosDAC is an ERC20 token for the time being but will be moved to the EOS platform once it has been launched.

It’s important to note that the airdrop is just for EOS holders and 75% of the eosDAC tokens, which is 900 million tokens will be distributed among EOS holders based on the following:

Those with a hundred EOS tokens or more

Everyone holding 100 EOS tokens or more at the time of the snapshot, that’s on the 15th of April, 2018 at 01:00:00 UTC will get one eosDAC token each for each EOS tokens held. The tokens would be automatically airdropped to their Ethereum ERC20 compatible token wallets.

These wallets can be used to store your EOS tokens:

Those with less than a hundred EOS tokens

Accounts with less than a hundred EOS tokens are not left out; they will only not receive the airdrop automatically. To receive the free tokens, token holders will have to apply manually. Details of how to get these tokens would be explained in the eosDAC newsletter which you can sign up for by clicking this link to get updates. Manual applications start 15th May 2018.

Those with EOS tokens on Exchanges

EOS token holders who have their tokens on various exchanges will need to confirm if they support the eosDAC airdrop. If not, you would need to transfer your tokens to an exchange that will support the airdrop or move your tokens to a self-hosted wallet.

Listed below are the exchanges that will support the eosDAC airdrop as announced on the official website:

Bithumb and Upbit will pay EOS holders on their exchanges with less than 100 EOS tokens automatically. Those with less than 100 EOS tokens on other exchanges are to claim their eosDAC tokens manually.

What are EOS and eosDAC?

The EOS is a decentralized application development (dAPP) platform. The main aim of the EOS platform is to support the development of highly scalable and decentralized application on the EOS blockchain.

EOS understands governance problems of decentralized blockchains; it, therefore, combines the DAC and DAO models through which the ecosystem of EOS will be governed after the main net is launched.

Hence, eosDAC proposed the idea of a decentralized community on the EOS blockchain platform and was called eosDAC. The eosDAC airdrop is therefore about putting together the decentralized community/decentralized governance model.

Finally

The eosDAC airdrop it’s a step towards achieving a completely decentralized ecosystem.

We have seen a rise in the price of the EOS tokens after this announcement was made. As the deadline for the snapshot gets closer, we are likely to see continuous growth in price as it comes to a close.

When the EOS based blockchain finally starts, the team will decide if they should support the chain and add a block producer node/nodes. After these, details on how to activate eosDAC tokens on the main net will be announced. Any eosDAC tokens not activated within six months of chain launch will be forfeited.