MCT airdrop for anybody who held NEO-based NEP-5 tokens 🤑 This might be big!

Last year Ethereum was the best place for Airdrops but this year NEO is gearing up to be quite a nice contender as the Ethereum well runneth dry. If you had any transaction of a NEP-5 token prior to the 8th of May, you'll have received some MasterContract (MCT) tokens airdropped to your NEO address(es).

MASTERCONTRACT

So contrary to most airdrops, the MasterContract (MCT) airdrop might actually be an interesting one to hold on to. MCT isn't a terribly exciting project but it might be a very useful and cost-saving project. From what I can gather from their github (which is apparently their only, and main website) they are essentially offering a new way to launch a NEO smart contract at a greatly reduced cost.

One example of cost savings MCT can offer is a reduction of the NEO smart contract fee from 490 GAS (about $12500 currently) to only 90 GAS ($2250). Quite significant. They describe how this works on their github, but it's very technical and beyond my capabilities to understand. Needless to say, if they can make this work I imagine most NEO smart contracts will be utilizing this.

I still have a lot of questions about this project, like what the token does and why it has value but I am intrigued so far. On their website it mentions how this token can be staked, with a minimum staking amount of 10,000 MCT.

AIRDROP

The great part about this airdrop is that, just like with ONT, pretty much all of the tokens were airdropped and no ICO was held. 580,000,000 tokens is the maximum supply of MCT and 100% of that has already been distributed, with 98% going to the community airdrop. This means there are no ICO-whales who might dump this - something that many people say is part of the reason why ONT has been performing so well.

The airdrop snapshot took place on May 8th 2018 and every NEO address which held NEP-5 tokens or transacted with them at any point in time prior to the snapshot will receive MCT tokens. A total of 1000 MCT tokens were airdropped for every type of NEP-5 token that you transacted with or held. So if you owned some ONT and some TKY you will receive 2000 MCT. If you also held some DBC, that goes up to 3000 MCT. And so on. Only NEP-5 tokens count - just holding NEO or GAS will not give you any MCT tokens.

The value of MCT tokens is still unknown as it is currently not traded on any exchange. I imagine the NEO-based Switcheo Exchange will be all over this as soon as they can, and the upcoming NEX exchange too. Kucoin has been a popular place for NEP-5 tokens as well.

I usually am easy to sell my airdropped coins but not all of the time. Especially ONT has been great of course, but even moreso if you realize that they gave out 1000 ONT for each subscriber on their newsletter in the early days. This is how the majority of ONT tokens were distributed. Unfortunately I missed out on that, but perhaps MCT is another chance at something nice. With 98% being distributed in this way, and there potentially being a pretty good project underneath it, I think this token could be worth quite something.

With 580,000,000 tokens as a maximum supply, a market cap of $1 billion would price these tokens at $1.72 each. If you only got 1000 MCT tokens that would equal $1720. Ofcourse if the market cap 'only' reaches $250 million, that would still equal $430 per 1000 MCT which isn't bad at all,considering the chance is big that you've received more than 1000 MCT (I did! - check your other/older wallets too!).

HOW TO

Since MCT is a very new token it doesn't have a lot of support yet and it won't automatically show up on your wallets or NEO blockexplorers yet. If you use the NEON wallet, like most people do, it's pretty easy to add the MCT token to it and see how much you've received.

Simply open the NEON wallet application, go to 'Manage NEON Settings' and then click 'Manage Tokens'. In the new screen press the + button to add a new token, and then scroll down the list until you see the empty field at the bottom of the list. Here you copy & paste the following script hash:

a87cc2a513f5d8b4a42432343687c2127c60bc3f

Then save it. Now you can access your NEO wallet as usual and you will see that among your other NEP-5 tokens a new MCT token will have appeared. If it didn't, then you didn't get the airdrop - sorry!

There's not much you can do with these tokens so far as no exchange supports it yet, but I do recommend holding on to this one instead of insta-selling it. There might seriously be something to this coin, especially in terms of price potential, and the amount of MCT you have been airdropped might actually end up being significant enough that you'll hate yourself later if you sold it without giving it a second thought.

Click here to go to the MasterContract github/website

(Art by Roy Lichtenstein)