Ambire, a popular self-custodial wallet, is set to reward its loyal users through the Ambire Legends Season 0 campaign. This initiative, which began on December 12, 2024, allows participants to earn $WALLET tokens by engaging in various wallet-related activities.
So, let’s take a deeper look at the project to learn what it is, how the rewards system works, and why Ambire Legends Season 0 is generating so much excitement among crypto enthusiasts.
How Ambire Legends Works
For those who want to know how the game works, users start by minting a Soulbound NFT character via the Ambire Wallet extension. By completing daily quests, such as buying $WALLET tokens, sending funds, topping up the Gas Tank, interacting with smart contracts, and voting on DAO governance issues. Participants earn experience points (XP).
Daily fun activities like spinning the Wheel of Fortune and opening Treasure Chests contribute to XP accumulation. As users gain XP, their characters level up, enhancing their potential rewards.
The upcoming $WALLET rewards are all about rewarding Ambire’s most loyal users. Ambire Legends Season 0 kicked off in earnest in December, with participants minting a Soulbound NFT character on Base in order to perform daily quests, essentially incentivizing them to use the new Ambire Wallet extension as frequently as possible. As users perform these quests and gain XP, their characters level up, increasing the amount of rewards they can earn.
With Ambire strongly hinting that it’s about to take a snapshot of the leaderboard as it stands, that can only mean one thing – the first allocation of 20 million $WALLET (out of a total rewards allocation of 195 million $WALLET) is about to be distributed via an airdrop.
But the rewards distribution won’t just be random – rather it’s calculated using a canny formula that takes into account the user’s level, based on their XP, and their average balance in USD.
Reward Distribution Formula
Ambire plans to distribute 20 million $WALLET tokens to Season 0 participants. The rewards are calculated based on a user’s level and their average balance in USD, using the following formula:
- Weight = Level × √(Balance in USD)
- Level = floor(√(XP) / 4.5)
- Individual Reward = Total Rewards × (Your Weight / Sum of All Weights)
In other words, you need to do two things to be in line for some generous rewards: Stay active and maintain as big a balance as possible. This approach incentivizes both active participation and maintaining a substantial balance in the Ambire wallet.
Eligibility Criteria
To qualify for rewards in Ambire Legends Season 0, users must:
- Use an Ambire v2 (extension) Smart Account with a minted Legends character.
- Achieve at least Level 3.
- Maintain a total balance of at least $500.
What Influencers Think of $WALLET Airdrop
@stacy_muur says this isn’t just another meaningless airdrop. He asserts that due to the unique formula, which rewards users based on their “weight”, or essentially the number of points they’ve earned multiplied by the square root of their balance, it looks like some users could earn up to 200% more than the amount of crypto they’re holding in Ambire.
As an example, the top ranked user according to @stacy_muur’s snapshot has a USD balance of $88,913 and a user level of 84, giving him or her a “weight” of 25,047, meaning they’re entitled to $WALLET tokens worth $14,794. Not a bad return! But the second ranked user, with a balance of just $682, still managed to rack up 80XP, and as a result of their endeavors, they stand to earn $1,234 in $WALLET – twice as much as their current balance!
You can see the rewards amounts for yourself here, which underscore just how much it pays to be loyal. So long as you maintain the minimum required balance of $500 and make sure you use Ambire every day, it’s possible to earn a decent rewards allocation:
Current Status and Next Steps
As of now, Ambire has not announced the exact date for the rewards distribution. However, the governance proposal outlining the reward mechanism has been published, and the community’s decision is pending. Participants are encouraged to continue engaging with the platform to maximize their potential rewards.
$WALLET is the native utility token of Ambire Wallet, and just by having some you can earn even more rewards, either by staking it natively in the wallet or providing liquidity to AMMs. You can, of course, just cash out if you want. Holding $WALLET also gives you the opportunity to vote through the WalletDAO on matters of governance.
For the latest updates and to participate in the governance vote, users should monitor Ambire’s official channels and ensure they meet the eligibility criteria to benefit from the upcoming $WALLET token distribution.
