Ethereum Layer-2 FUEL Network Announces 20% Supply To Be Airdropped To The Community

Ethereum Layer-2 Rollup project Fuel has shared details regarding its native token, FUEL, which will power its upcoming rollup network.

The FUEL token will have a 10 billion supply and be issued as an Ethereum main net ERC-20 token. Twenty percent of the initial circulating supply will be allocated to its community and early supporters.

This includes participants in the Fuel Points Program and incentivized testnet, who will receive tokens at launch as an airdrop.

Fuel Airdrop Big Update! 🪂🔥

Fuel [@fuel_network] officially unveils the $FUEL token and introduces the upcoming Fuel Genesis.

🔹 Total supply: 10 billion
🔹 Airdrop 1 allocation: 2 billion (20%)

Airdrop Eligibility:
– Participation in the Fuel Points Program
– Engagement… pic.twitter.com/gpovJwqCPa

— Airdrop Adventure 🧭 (@Airdrop_Adv) December 10, 2024

Statement From The Fuel Team Claims That “Launch Date Target Will Be In The Next Two Weeks

In an online post, the Fuel team said, “20% of FUEL’s total initial supply will go to our community. We’re grateful to our long-standing friends, builders, and users who have been with us since the beginning. FUEL will be released to the community based on various eligibility criteria, including participation in the Fuel Points Program and incentivized testnet. In total, over 51% of FUEL will be allocated to the community, ecosystem, and R&D.”

Interestingly, phase 2 of its Fuel Points Program is ongoing, meaning users can still earn a portion of the upcoming FUEL airdrop. There have been hints at further community incentives alongside the points program and early CEX listings for the token.

The team said, “While our community forms the backbone of Fuel, we’re eager to welcome newcomers into our ecosystem. As a result, alongside our ongoing Phase 2 Points Program, we plan to launch a community expansion effort in collaboration with Legion, Impossible Finance, and Bitget before launch.

Fuel Labs CEO Speaks On Upcoming Launch And Future Of The Network

We're grateful to our community, both longtimers and newcomers alike, and the 50+ ecosystem dApps actively building on Fuel Ignition, including @MiraProtocol, @GriffyCommunity and @swaylend

Details about the community expansion will be communicated this week. pic.twitter.com/Tv5Q85aSpj

— Fuel (@fuel_network) December 10, 2024

“Launching FUEL is a pivotal moment for Fuel, as it not only secures our network but also enables us to eliminate the fundamental pain point of transaction fees that so many blockchain ecosystems face,” said Nick Dodson, CEO and co-founder of Fuel Labs.

Fuel’s Ignition network leverages its virtual machine architecture, the FuelVM. It offers performance tailored to scaling decentralized applications. It also uses a new Rust-based blockchain-oriented programming language called Sway, which is becoming increasingly popular for developing newer blockchains.

In the announcement thread on X, the team claims to already have 50+ dApps built within the Fuel ecosystem. The team has been building for a number of years now, and in September 2022, Fuel Labs raised $80 million in a funding round led by Blockchain Capital and Stratos Technologies.

BONUS: Wall Street Pepe (WEPE) Raises Over $3.7 Million In Its First Week: Is It The Next Billion Dollar Frog Coin?

GM to everyone except those that fade $WEPE 🐸 ⚔️ pic.twitter.com/bDRl6dZVn7

— Wall Street Pepe (@WEPEToken) December 9, 2024

With the OG Pepe recently making new all-time highs amidst a market of red, investors are looking for that next 1000x Pepe-themed gem. Wall Street Pepe (WEPE) is shaping up to be just that, with just a week gone into its presale, the team has raised more than $3.75 million. With this level of momentum, $5 million is looking nailed on this week, with $10 million on the cards in the short term.

The hype this early in WEPE’s development is due to the perfect blending of meme coin coupled with utility. The Wall Street Pepe team is introducing a selection of community-driven tools and live trading strategies typically reserved for insiders and whales.

This will be achieved via the Wall Street Pepe VIP Club. This exclusive community for holders of WEPE will give access to alpha trading signals, insider insights, and expert-led trading strategies. These tools are designed to help new and experienced traders spot the next 1000x crypto gem before everyone else.

Another fun piece of utility will see  15% of the token supply allocated to fund trading competitions for the WEPE community to take part in.

There are less than 72 hours remaining before the WEPE presale moves onto the next phase, which will see an increase in the current price of $0.000207 per token. There is also a built-in staking protocol for this presale; any investor who stakes their WEPE can instantly start earning over 145% APY.

Join The WEPE Army communities on X and Telegram to stay up-to-date.

Visit Wall Street Pepe

EXPLORE: Why Is Crypto Down Today? Institutions Are Shaking Out Weak Hands And Buying Your Bags At A Discount

Join The 99Bitcoins News Discord Here For The Latest Market Updates

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Read more