Time Sensitive: AWC Airdrop ON PAUSE & What to Know!
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Time Sensitive: AWC Airdrop ON PAUSE & What to Know!

By Thomas Wolf | wickedthewolf | 17 Jul 2020

I fully support Atomic Wallet and am actively participating in their staking opportunities which have me holding over $70 USD between Binance Coin (BNB) and Atomic Wallet Coin (AWC) + the minimum of other tokens required for AWC membership.

However, I am noticing that many people are publishing posts that neglect to mention this.  It's important for you to know the Atomic Wallet Coin airdrop has been suspended due to "massive abuse" and they are working to improve their verification system for legitimate users.

The disappointing thing about this is that they did not have systems in place to validate.  I also spent money on BNB and Ethereum to process the payments to make the minimums required to obtain membership.  It's only around $20 USD, but still - funds were tied up in Binance for 72 hours and I hate that exchange outside AWC and their support for Nano.  It's both a hassle and a financial loss every time AWC is promoted on dead referral links.

What isn't blatantly obvious is that they are freezing your funds while you are staking them unless you've tried to cash out, or you look at your AWC-986 transactions via Binance withdrawal records.  You'll need to make sure your BNB & AWC assets are being held in BEP2 and not ERC-20, as well - luckily ChangeNOW readily exchanges them.

AWC allows you to gain staking rewards; even prior to membership confirmation.  Every time you stake, this costs you BNB/ETH.  This way, everything remains operational but I advise you to make sure you are following all of the criteria for membership, otherwise, your future rewards may become forfeit.

Here is AWC's statement on their airdrop suspension.

Also, AWC's criteria for airdrop and staking membership isn't as clear as most think.

You must hold a minimum of $50 USD in any top-200 token.  Additionally, you must hold a minimum of 1 BNB, which is currently $19.15 USD in value; this is something not seen on their standard airdrop page which sadly contains typos, I found it here.  Then you have to hold during their "snapshot windows", the last of which is From 1 August 12.00 AM UTC to 2 August 12.00 AM UTC.

Another thing to consider is that in order to receive the funds both YOU and YOUR REFS must be following these rules, and they still reserve the right to not distribute your rewards "if they think anything is suspicious".

I highly recommend you comply with all of the criteria and promote your refs to do the same, otherwise, there may be a sudden outrage in August when people who thought they were doing everything correctly suddenly find themselves at a loss.

I happened to notice some of this by monitoring my transactions.  In Atomic Wallet, everything appears perfect:

The reality is this wallet has not been approved for the 17% minimum because the membership hasn't been approved yet, let alone the 20% figure above, no doubt due to not having met the criteria for the last "snapshot window" - by not holding over $50 USD in assets and 1 or more BNB which I've since remedied by moving all of my Tezos (XTZ) to Atomic Wallet from Coinbase, though it is the amount of AWC you hold that decides your staking rewards beyond 17% once verified:
AWC Not yet a member

Even more, wallet transactions show only gains without notice of frozen assets unless you attempt to send your AWC, it will display your total available vs. total staked amount of AWC:

However, if you check your balance through Binance transactions you will see transactions are frozen due to being staked, something that does not happen with Tezos (XTZ) and in order to use these funds YOU MUST unstake them first:
AWC Frozen on Binance

You can see how this would create some cause for concern.  We have to spend money to make money through AWC's airdrop and if we don't meet the parameters for membership, that money could have been partially wasted to pay for exchanges and staking new amounts; all the while you're not gaining anything while putting out referrals.  They have stated they will be checking ALL airdrop activity for anything suspicious.

I hope this information saves some people from a serious headache come August 1st & 2nd.  As far as I know, there will not be another window to prove that you are an active Atomic Wallet user with the minimum assets required in your wallet.

Always read the fine print!

I still fully support AWC despite the lack of transparency on this airdrop, it is a very promising prospect.  They do need a new editor, though.  Reviewing this was a headache and some things are still not entirely clear, but, I'm updating the article as I find out.

I wish everyone the best through these trying times, stay smart, and stay safe.

-Thomas Wolf

My ChangeNOW Contest Article
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Thomas Wolf
Thomas Wolf

I am a cryptocurrency advocate, a STEM undergraduate student, a nature enthusiast, a survivalist, a DIY specialist, and I'm a little crazy at times.



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