Ethereum Classic is itself a result of hardfork. Sometimes it is also referred as Classic Ether.
Callisto is a blockchain technology which runs on the Ethereum Classic protocol. Callisto introduces a cold staking protocol which rewards token holders for being participants.
Cold staking is a way of giving CLO token holders incentives for holding for a specific period of time, allowing them to earn interests without validating transactions as transactions will be achieved by the Proof-of-Work algorithm.
At launch, accounts that had Ethereum Classic balances at block 5500000 will receive an equivalent amount of Callisto tokens in the ration of 1:1. Meaning ETC token holders will get 1 Callisto (CLO) token for Every Ethereum Classic (ETH) held. A snapshot of the ETC token would be taken at block 5500000 and will input all account balances to the Callisto block.
Every Ethereum Classic account which has ETC balance on it will receive the equivalent amount of CLO immediately at Callisto platform launch.
Wallets That Would Be Supported by the airdrop include:
ClassicEtherWallet
ClassicMask
MyEtherWallet
There should be a move to the upside for the Ethereum Classic as so many won’t want to miss out on the airdrop Callisto offers.