Relation Labs Launches First Season of Airdrop for REL Tokens
Relation Labs, a Web3 company building decentralized social graph infrastructure, announced it had commenced the launch of the Season 1 airdrop of its native $REL token. The first season includes 50,000,000 tokens distributed to early Relation contributors and adopters.
Relation Labs’s Season 1 Airdrop Involves 50M $REL Tokens
Web3 firm Relation Labs announced the launch of the first airdrop season for the native token of its blockchain, REL. With the airdrop, the Web3 firm intends to reward early adopters who have helped grow the Relation ecosystem.
The Season 1 of the REL airdrop includes 50,000,000 tokens, which will be distributed to eligible Relation participants.
“The snapshot for the first airdrop season of REL was captured on May 26th at 2 am UTC. Under this initiative, Relation plans to distribute a significant amount of the total airdrop allocation in Season 1, which is 50,000,000 distributed $REL, to eligible participants in the Relation ecosystem, including the Relation users, early adopters, and contributors.”
– Relation wrote in the announcement.
Relation also said it had introduced certain “boost factors” through unique identifiers within the ecosystem that represent users’ identities and relationships. Users that hold these identifiers – such as “.soul profile” – are set to receive a boost in their airdrop allocation to promote such boosters’ use.
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How Web3 Firms are Redefining Social Media
Founded in 2021, Relation Labs is a Web3 project developing decentralized social graph infrastructure to empower people and communities to build and maintain their social identity, co-build reputation and create a better society in the Web3 space. A social graph represents the relationships between individuals or entities in a social network, illustrating how people or entities are connected and interact.
Web3, the rapidly growing “the next iteration of the internet,” is bringing significant changes in the many fields of the online world, including social media. First, the single-most-important change is decentralization, meaning that decentralized social media run independently rather than on centralized servers managed by a company such as Twitter or Meta.
Several decentralized social media platforms operate today, though they are yet to witness mainstream adoption. Some of these include Mastodon, Minds, Diaspora, and Signal. Similarly, decentralized finance (DeFi) lender Aave rolled out its blockchain-based social media project Lens Protocol in 2022.
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About the author
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird’s US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.