Polkadot to Roll Out Its Community Token $PINK

The Polkadot community is rolling out a new memecoin called PINK. According to a shared press release, the token will officially debut later today at an unknown time.

The memecoin was developed by a group of volunteers from different parts of the Polkadot ecosystem. The total supply of the token has been capped at 2.3 billion, which is the total amount of tokens that will ever exist. The number was chosen in honor of Polkadot’s RGB color code.

Polkadot to Share PINK among Different Communities

As a community token, PINK has been allocated to different parachains and communities involved in advancing the Polkadot ecosystem to ensure fair distribution.

Approximately 12.5% of the token supply issued on Polkadot AssetHub will be airdropped among the parachains, with 14 eligible teams currently in line to receive allocations.

According to the release, each parachain has the freedom to distribute their allocation as they deem fit. The largest parachain airdrop will go to Moonbeam users, followed by Bifrost and Astar.

To promote the Pink community and increase its awareness, the Great Escape Game Studio developed PINKDROP, a casual browser game that serves as an interactive introduction to the Polkadot ecosystem.

The game was launched in December last year. Within the first four weeks of launch, 14,000 addresses belonging to players recorded over 225,000 game sessions.

Shockwaves.ai and Other Projects Apply to Receive PINK Allocation

Players who engage with PINKDROP will have the opportunity to share 15% of PINK’s total supply. However, to qualify for the airdrop, gamers will have to complete challenges that involve combining balls representing different parachains on Polkadot to increase the size of their ball, aiming to create the ultimate Polkadot ball.

While playing the game, users compete for points and climb the leaderboard. The game only ends when a player’s ball reaches its maximum size.

The Great Escape Game Studio plans to introduce a new version of Pinkdrop, introducing a league mode with daily tournaments and $PINK rewards to be won in the future.

The move aims to further drive the adoption of $PINK while demonstrating how the token can be integrated with Polkadot games to incentivize participation.

Apart from PINKDROP, the Polkadot community plans to extend the new token to other gaming platforms in the ecosystem. The group has allocated a portion of PINK to share among these communities with six games, including Shockwaves.ai, participating to incentivize the development and adoption of GameFi on Polkadot.

Other games like Exiled Racers and Evrloot have also applied for an allocation.

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