According to PANews, Memeland, an NFT project, has announced on platform X that 1,000,000 red envelopes containing RuneCoins will be available for eligible Stakeland users. Each red envelope will contain 420 RuneCoins. Users have the option to decide how many steaks they want to destroy, with the maximum being 80% of the total steaks at the snapshot time on April 24, 2024. The default destruction rate is set at 69%.
The percentage of steaks a user destroys compared to everyone else will determine their share from the 1,000,000 red envelopes. The number of steaks needed to earn a red envelope will be determined after the destruction period ends, based on each individual's decision. If a user's allocation is less than one red envelope, they will not receive any red envelopes and their steaks will be returned for use in the next event. The destruction period will end at 1 PM on April 26.
In previous news, Memeland announced that the first project on Stakeland would be RuneCoin.