The ParaX Medal NFT airdrop initiative, previously outlined by ParaSpace, will encompass a total of 2,000 NFTs. The first 200 have been delivered to the initial migrating accounts.
An additional 1,000 NFTs will be airdropped to the top 1,000 migrating accounts, as determined by their Total Value Locked (TVL) and Borrowing and Lending (BNPL) activity. An extra 800 NFTs will be allocated to users migrating within the first week, on a first-come, first-served basis.
ParaX, formed through the merger of ParaSpace and Parallel Finance, aims to become a comprehensive web3 super app, providing infrastructure to enhance user experiences and boost mass adoption across various blockchain networks.
To express appreciation to users migrating to ParaX, the development team will introduce ParaX Medal NFTs, offering additional benefits within the ParaX ecosystem, including point distribution.
The transition to ParaX will introduce a dual-scoring system, tracking user activity on both platforms. ParaX will feature a new dashboard, monitoring historical project activity and new engagements.
ParaSpace has also unveiled the ParaX whitepaper, highlighting the ecosystem’s foundation. This includes account abstraction, meta user interface, zkVM, and cross-domain intent-based LLM, simplifying user interactions with Web3 applications through an automated, intelligent execution layer.
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