Interest free DeFi loan agreement Sturdy Finance opens STRDY token air drop application
On March 15th, the interest free DeFi loan agreement Sturdy Finance announced on Twitter that the STRDY token airdrop application was officially opened and will be issued to eligible users. Note: STRDY currently does not support transfer.
Interpretation of this information:
Sturdy Finance, a DeFi platform offering interest-free loans, recently opened the application process for their STRDY token airdrop. The announcement was made via the platform’s official Twitter account on March 15, 2021.
For those who are not familiar with DeFi, it stands for decentralized finance. This type of finance utilizes blockchain technology and smart contracts to make financial transactions more efficient and secure. Sturdy Finance operates on the Ethereum network, which allows it to provide users with interest-free loans without the need for intermediaries such as banks or other financial institutions.
The STRDY token is the native token of the Sturdy Finance platform. It serves as a means of payment for transaction fees and also offers users certain privileges, such as reduced fees for loans. The airdrop is a promotional event that aims to distribute the STRDY token to eligible users.
Eligibility criteria for the airdrop were not disclosed in the announcement, but it’s worth noting that the STRDY token is currently not transferable. This means that users who receive the token through the airdrop cannot sell or trade it on any cryptocurrency exchange.
The decision to temporarily restrict token transferability is a common practice for many DeFi projects. It allows platforms to establish a user base and create demand for their token before allowing unrestricted trade. This approach can also help prevent price manipulation and other market abuses that can occur when a new token is listed on cryptocurrency exchanges.
In summary, the Sturdy Finance platform has announced an airdrop for its STRDY token, the native token of the DeFi platform. Eligibility criteria for the airdrop have not been disclosed, and the token is currently not transferable. This promotion aims to distribute the token to eligible users and create initial demand before establishing unrestricted trading on cryptocurrency exchanges.
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