ChainX (PCX), the earliest launched project in the Polkadot ecosystem is committed to the research and application of Bitcoin layer 2 expansion, digital asset gateway and Polkadot second-layer relay chain, To realize cross-chain asset exchange, leading the new direction of Bitcoin Cross-DeFi. ChainX is committed to Layer 2 expansion and asset gateway research of Bitcoin, well-positioned to provide high-performance transaction trusteeship and interoperability among chains in asset transfer.

SherpaX is an independent research and development network to ChainX, like how Kusama is to Polkadot. SherpaX will be forked from ChainX. A snapshot will be taken during the fork and a total supply of 10,500,000 KSX will be airdropped to PCX holders at a ratio of 1:1 as an IAO (Initial Airdrop Offering) with additional issuance planned every year. The snapshot date will remain unknown and the distribution will happen when SherpaX becomes a parachain, which is expected to occur mid-June 2021.

Step-by-Step Guide:
  1. Hold PCX in a private wallet. Create one from here if you don’t already have one.
  2. SherpaX will conduct an airdrop of their native token KSX to PCX holders.
  3. A snapshot of PCX holders will be taken when SherpaX is forked from ChainX, which is expected to happen sometime before the Kusama slot auctions.
  4. A total supply of 10,500,000 KSX will be airdropped to eligible PCX holders.
  5. The airdrop ratio will depend on the timing of the Kusama slot auction and the time of the PCX mining rewards being halved. If the airdrop occurs before the PCX halving, then the ratio will be 1:1, or if the airdrop occurs after the PCX halving, then there will be a slight reduction like 1:0.998.
  6. The distribution is planned to happen in mid-June 2021, when SherpaX becomes a parachain.
  7. For more information regarding the airdrop, see this Medium article. If you have additional questions regarding SherpaX regarding SherpaX, then ask in this Telegram group. Also check out their FAQ section.