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Bitfinex Supports the AllianceBlock Nexera (NXRA) Airdrop to (ALBT) Token Holders

BITFINEX

Related type: Others

2023-02-23 17:56

Further to our announcement earlier this month to temporarily suspend trading and deposits in AllianceBlock tokens following an exploit that resulted in the loss of millions of ALBT tokens, Bitfinex will be supporting the AllianceBlock Foundation's airdrop of AllianceBlock Nexera tokens to certain ALBT holders. Bitfinex customers are expected to receive 1 NXRA token for every 1 ALBT token held in their exchange wallet at the time of the "snapshot." The AllianceBlock Foundation set the "snapshot" at 1st February 2023 at 10:04 PM UTC, at block height #16536830.AllianceBlock's airdrop distribution proposal varies between stakeholders. The airdrop eligibility criteria were based on several different factors including but not limited to stakeholder classification and the time they conducted their activities . Given the nature of CEX's operations, AllianceBlock advised them to set their own distribution methodology that fits best within their operations. Thus, Bitfinex chose the above mentioned methodology, which we believe is fair and covers the most affected users. The AllianceBlock Foundation has announced that NXRA will fully replace the ALBT token, and that the ALBT token will be fully deprecated and have no more utility, with NXRA taking over all its utility and properties.The NXRA airdrop is expected to take place at 11.00 AM UTC on 23rd February 2023. We expect that customers of Bitfinex will receive NXRA in their accounts shortly after the airdrop, subject to receipt of funds from the AllianceBlock Foundation. Deposits and trading with USD are expected to open at approximately 11:00 AM UTC on 23rd February 2023 and withdrawals at approximately 11:30 AM UTC on 24th February 2023.The AllianceBlock Foundation reports the maximum token supply of NXRA is 850,000,000 NXRA. ALBT Token trading and deposits will remain suspended until further notice. Note: Bitfinex will support NXRA on the Ethereum network only.More information on the NXRA token is available on the official website. Forward-Looking Statements. Certain statements in this announcement may be forward looking in nature. The words "believe," "expect," "estimate," "could," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions among others, generally identify "forward-looking statements," which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Bitfinex nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.