CANDY Token. What is it? Where did it come from?
A couple of days ago, after installing the SELFKEY ICO wallet and receiving their airdrop, I noticed that my MEW had an additional token listed, which I did not actually purchase myself. I was confused, to say the least, mainly because I am still relatively new to the use of various online crypto related utilities and I am learning as I go along, but also because I had no idea where this token had come from and whether it was meant for good or bad. It could have been a nasty hack for all I knew.
I poked around for a bit and found nothing until today when I poked around some more and found a website.
So what is the CANDY token. The official website states:
“ Candy.One is a global cryptocurrency community where various projects lock their tokens to one holding address and distribute CANDY tokens to potential holders.
CANDY represents a sum of candy tokens. It’s co-issued by different projects by locking their own tokens to one holding address.”
This means that projects like Ethereum, Qube, Motion and roughly 17 more, can lock in a number of their own tokens into the Candy.one holding address, and randomly distribute CANDY tokens to holders of the projects own tokens. So for example, if you happen to be holding some Ether or MEX tokens in your MEW wallet, you may receive an airdrop of CANDY tokens as a reward. The distribution of CANDY tokens can be looked up here:
https://ethplorer.io/address/0xf2eab3a2034d3f6b63734d2e08262040e3ff7b48
It seemed quite random at first as I had 17000, and some other reports I read and heard of stated numbers from 40000 to 150,000. My guess is that the number of distributed CANDY will vary based on the amount of the various crypto tokens held by each individual wallet. So for example, people with a lot of Ether in their MEW may receive a larger number of CANDY tokens, while those with a smaller number of Ether will receive less. Of course, that is to say only if the distribution is amongst all Ether, or QUBE holders, which is what the CANDY website says as well:
“The total supply of CANDY is one trillion. Candy Box will distribute tokens to project holders by making future airdrop, gifts and other means. Currently locked include PRS, BIG, XIN, MTN and nearly 20 kinds of tokens, worth almost 100 million USD.”
Not quite a hundred million just yet, but pretty close. Find it here: https://candy.one/i/3712970
The total supply of CANDY is a stageringly exact one trillion tokens, which during the time of writing this article, increased in value from 69,780,768.55 USD to 71,219,837.89 USD, or from 0.0000697808 to 0.0000712198 per CANDY token. If my calculations are correct, that would place my 17,000 CANDY tokens at a price of 1.2107366 USD, which may be insignificant to many adults, but ammounts to an entire ice cream for children. Although I like ice cream too.
The point to take away from this is the following. With the growing number of projects joining the CANDY list, and locking in a portion of their own tokens onto the CANDY project, the CANDY tokens increase in value. Presently 26 projects are listed on the CANDY site, with the most recent one being FAIR(FairGame) which locked 12 million tokens in the CANDY box. The first listed token lock is to Geek Chain which occured on the 25th of January this year. Seeing that this platfrom is less than a month old, I think it may be a safe bet that a lot more projects may still be joining the CANDY box in the near futre thus propelling the value of the CANDY token upwards into the presently vast space within which it can still grow and anyone willing to hold on to this novelty may be in for a real surprise in the long run.
You can get some CANDY yourself by following this link:
Create your own account on the CANDY websie to participate in CANDY giveaways, and to keep track of the growing number of involved projects.
The indicator at the top of the CANDY site lists amounts in Japanese Yen, as if Satoshi Nakamoto come back to say that he, or they, were not yet done with the creation and redistribution of wealth. It makes sense for projects to become involved in this anomaly early on while the value of the CANDY token is still relatively low. I can see this little jem being used to incentivise cryptocurrency holders to avoid exchanging their tokens into fiat, since like I stated earlier, I have a feeling that the amount of CANDY received may depend on the amount of tokens held up in your crypto wallet.
Happy CANDY hunting!!!!!