Hunter Biden, the son of former U.S. President Joe Biden, said in a post on X that he was providing more detail on the purpose and token arrangement behind his meme coin, LAPTOP. LAPTOP’s official account later said 20% of the total supply has been allocated to community airdrops. Claims will open at 8:00 a.m. Eastern Time on Sept. 9, which is 20:00 Beijing time, and the window will stay open for 30 days.
Airdrop allocation breakdown
According to the official breakdown, 2% of total supply is reserved for users who lost money in the TRUMP meme coin and other related projects. Participating exchanges will distribute that portion based on standards they set themselves. Another 8% is allocated to Hunter Biden Substack subscribers recorded as of Sept. 6. The remaining 10% in the airdrop bucket will be used at the discretion of the Phoenix Veritas Foundation for future community airdrops.
30% tied to preset real-world events
Hunter Biden said another 30% of the token supply is linked to preset real-world events. If those events occur, the corresponding tokens will be permanently burned. If they do not occur, the tokens will be donated to charity. Separate from that, he said 50 million tokens will be used for charity with no conditions attached.
He also said investors should not expect him or anyone else to push the token’s price higher. In the same post, he claimed that nearly 1 million wallets had collectively lost about $3.8 billion on the TRUMP token.
Previously disclosed TGE structure
PANews previously reported that LAPTOP has a total supply of 1 billion tokens. Initial circulating supply at the token generation event, or TGE, is 350 million tokens, equal to 35% of the total. Of that amount, first-day airdrops, future airdrops and liquidity each account for 10% of total supply, while the foundation treasury accounts for 5%.