Yesterday an article on the distribution and governance came out. It is pretty big, so most of the questions get answered if you dive into it for like 5-10 minutes. One part deserves a few more words to discuss.
We all know the panacea of airdrops (aka early members / LPs / users) snapshot to get tokens. It’s grown to the extreme level of entitlement where people now want retroactive stuff for their tweets lmao. Is it right or wrong? Idk, from one perspective - users wanna own what they use (muh web3 ownership bro) - from the other perspective, forcing communities to gib tokens might be a bit too extreme if you just cliked some buttons. But who are you to value contributions as one person? It’s too subjective. So… we didn’t.
Are there bots then? Personally speaking, well… duh, most likely. Is there a very solid percentage of real users and testers? - YES. And that’s what counts. I mean, maybe I am being too pessimistic, and the bot ratio is extremely low in Gearbox? How about you cross-check: GitHub - Gearbox-protocol/launch-snapshot.
For Discord, you can clearly see the “value” ratio is pretty good. Happy with it. For testers, judging from some chats already - I would assume some “smart testing” (lol) took place. And so be it. Most often you will find the distribution will be fairly flat without jumps, so you wouldn’t be able to make cutoffs. You could think that by cutting the long tail you are fixing the issue, but the really smart airdroppers actually test A LOT, so you would be cutting the real users then from the bottom. There is no perfect solution for this.
Accept it and move on, this is is just a drop in the sea
These snapshots are never perfect, you are always bound to go wrong and piss people off. As such, why not just do a distribution which pisses the least amount of people off? You never know - an airdropper can turn into an amazing supporter, a botter might end up building something with the protocol, and so on. You shouldn’t exclude such options. But if you do the cutoff too strict, you are SURELY gonna get fked by your early members. Yes you will save up on 0.5% of your total supply (at best?) and close the gates for a good number of people some of which genuinely wanted to be part of your DAO. Bad decision, imho.
Happy with the result overall! Love the early community, and don’t be upset even if you didn’t make in this cut. DAO has >50% so just contribute, do work, and let’s build it together. <3
There is no to-do per se here, because cutting people NOW would be dull. However, if somebody finds an address that literally airdropped test tokens to 100 other ones - then it’s clear botting. That stuff would be totally okay to cut off… and you would take a part of their reward lol?
Otherwise, well done to everyone, and thank you! Let’s try to make a cool DAO