StakeDrop: Introducing the Upgraded Airdrop for Delegators to Prism’s Validators
We are thrilled to announce an upgraded airdrop for Prism V2 that will allow delegators to earn more tokens. The goal is to democratize the process of earning tokens before mainnet launch and to decentralize ownership with an airdrop distribution that allows people to “opt-in” to supporting Prism by delegating to Prism’s validators.
(ℹ️) We hold our original Terra Classic community in high regard, and we announced the airdrop on Nov 25th to show our appreciation. Our priority is to carry out the airdrop in the best way possible, and we would love to hear your valuable feedback and suggestions on our Discord channel as we finalize the methodology.
TLDR: Up to 200mm (20% of total supply) tokens can be earned and delegators to Prism’s ATOM, OSMO & LUNA validators will receive 10 tokens per $1 of validator commission paid.
Traditionally, the opportunity to earn tokens in blockchains before launch has been reserved exclusively for elite VCs, while communities have been excluded and left to buy in the secondary market after launch. Prism’s new airdrop methodology aims to change that by offering an attractive model for users who are already staking.
Here are the key points about the improved airdrop methodology:
- Prism is expected to have a genesis token supply of 1 billion.
- Up to 20% (200 million) of those tokens can be earned by delegators to Prism Validators, which are currently live for ATOM, OSMO, and LUNA.
- Snapshots will be taken weekly, and for each dollar of validator commission paid, delegators will receive 10 Prism Tokens on the new chain. This allows for an even distribution of airdrops across holders of different tokens based on their dollar price.
- A bonus airdrop could be made available to stakers who transfer their assets over to Prism when mainnet is live and: refract them, use them to provide liquidity, or secure the chain.
- Users benefit from price increases in their underlying assets of OSMO, ATOM, and LUNA as they will earn airdrops at a faster rate when the price moves up as the dollar amount of commissions will be higher.
- Similarly, if commissions are higher, the amount of airdrops will increase.
To illustrate how this works, let’s consider an example: Alice delegates her OSMO, ATOM, and LUNA to Prism’s validators. During one week, Alice earns $100 in staking rewards and pays $10 in validator commission. As a result, she will earn 100 Prism tokens that week.
The new airdrop methodology is designed to benefit recipients, with more Prism tokens going into the hands of those who support the project and who will take advantage of the many opportunities Prism will offer. Ultimately, it will be a free market, and users can decide how many tokens they would like to earn.
By using this methodology, Prism is committed to decentralizing ownership and democratizing the process of earning tokens. The hope is to foster a stronger community and ensure the long-term success of Prism.
Prism is excited to offer this new airdrop methodology to the community and invites users to join in their mission to make Prism the most community-centric blockchain. Stay tuned for more updates on Prism Protocol V2, and don’t forget to follow on Twitter and Medium!!