Genesis Airdrop
Liquidium recognizes the value and loyalty of its early users. To show appreciation and reward them for their engagement on the platform before the official launch of the Token, a genesis airdrop will be conducted.
Airdrop Allocation
Total Tokens for Airdrop: 10,000,000 Tokens (10% of total supply) are allocated for the genesis airdrop. This represents a significant portion of the total token supply, underlining the importance Liquidium places on its early users.
Protocol Users: 7,000,000 Tokens allocated
Users with >1,000 points: 6,469,800
Users with <1,000 points: 530,200
Specific Ordinal Communities: 3,000,000 Tokens allocated
Eligibility and Distribution
Protocol Users with more than 1,000 points:
Snapshot: July 21, 2024, 12PM UTC
Minimum point earnings to be eligible: 1000 Points
Minimum allocation: 400 Liquidium Tokens.
Distribution:
All users that qualify for the minimum threshold of 1000 points or more are each distributed 400 Liquidium Tokens.
Protocol users who had point earnings above the minimum threshold (1000 points) were distributed the remaining Liquidium Tokens based on their remaining points (total points - 1000) pro rata. This is to ensure (1) wide distribution for governance purposes and (2) the protocol shows that there is value in being an OG Liquidium user that isn’t just capital-weight based.
This results in an increased reward base for the lower eligible point earners and a deficit in reward for the largest point earners when compared with linear distribution. This effect is a net positive for the protocol, however, as the linear point allocation follows an exaggerated power law curve which would result in a concentrated distribution. This method balances rewarding all eligible OG users and improving the initial token distribution whilst still providing an attractive reward for the largest users.
The protocol recognises that this is not linear distribution, however, achieving the above two objectives are important for the protocol.
It is worth noting this will only apply for the Genesis Airdrop. Follow-on seasons will be linear pro-rata distribution, without minimum floor allocations. For these seasons, the token:point ratio will be consistent irrespective of total points earned. Note: The distribution for follow-on seasons might change based on governance proposals.
Protocol Users with less than 1,000 points:
Snapshot: July 21, 2024, 12PM UTC
Minimum point earnings to be eligible: 1 Point
Fixed allocation: 200 Liquidium Tokens.
Distribution: Every Liquidium user with less than 1,000 Liquidium points received 200 tokens.
Specific Ordinal Communities:
Snapshot: July 21, 2024, 11:45AM UTC
Included Communities: OMBs, Quantum Cats, NodeMonkes, Bitcoin Puppets, and Pizza Ninjas.
Distribution: Each eligible ordinal held = 117.42 Liquidium Tokens
Upper Limit: If a wallet holds over 5 eligible ordinals, it earns the equivalent of 6 ordinals = 117.42*6 = 704.52 Liquidium Tokens
Note: The tokenomics and airdrop distribution were unrevealed until after the snapshot was taken, giving everyone an equal chance and eliminating biased behaviour.
Conclusion
This airdrop is a testament to Liquidium's commitment to its community and early supporters. It not only incentivizes participation but also ensures that the initial users are integrally involved in the ecosystem as it evolves.
Based on community feedback, a governance proposal was passed to remunerate users for a sybil attack as well as point multipliers for users of previous seasons.
149,800 tokens were distributed to users who were affected from the sybil attack.
Top users received a point multiplier for season 1
Top 100 users: 30% boost
Top 200 users: 25% boost
Top 500 users: 20% boost
Top 850 users: 15% boost
Top 1500 users: 10% boost
Top 3000 users: 5% boost
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