Title: Multiround Airdrop
Author: Kerman Kohli (ARCx)
Date: 2nd May 2022
Context
On the first of March 2022 the Juicebox community voted to further the distribution of JBX to mitigate existential risks to Juicebox and the Juicebox ecosystem. See snapshot for reference.
JBP-114 passed March 5 2022, and JBX was distributed successfully.
Subsequent analysis of the Airdrop revealed that given the intelligence in the distribution method, the token recipients of the Airdrop valued the tokens far more and were much less likely to dump when compared to industry averages! (see below graph)
As of 27 April 2022, 59,474,604 JBX tokens remain unclaimed in the Multisig to be claimed by 2022-06-07.
While this amount will remain locked and claimable until this time, the retention graph indicates that it is unlikely a significant % of the remaining balance will be claimed before this date based on typical airdrop retention graphs that follow a power law distribution.
As such, we propose using the current balance to inform the token amount for a Phase 2 Airdrop. We believe that this airdrop is significant in the fact that is the first multi-round recurring airdrop done with a much higher degree of intelligence compared to anything else done in the industry.
We wrote an article outlining the success of the original airdrop over here:
Proposal Temperature Check:
Given the first Airdrop’s success. We propose a subsequent distribution of 59,474,604 JBX tokens, to wallets based on the initial criteria.
- JBX holding time
- Snapshot participation
Given the historic data we have from the first airdrop we propose adding to follow factor to the score:
- Whether the participant dumped the original airdrop
If the user has not sold their original airdrop, then they will be eligible for this one. The amount of JBX being requested is from the amount of JBX that was not claimed from the original airdrop.
As a gesture to recognise the work being done, ARCx is also requesting 0.1-1% of the distribution amount which will be held long term in the ARCx Treasury.
Technical Specification:
The user’s Juicebox Benefits score will be the large factor in determining how many tokens they received. For example, let’s assume a scenario with the following 5 users receiving a total of 200 tokens:
- User A has a score of 50
- User B has a score of 20
- User C has a score of 30
Given the total of the scores is 50 + 20 +30 = 100, each “score point” will receive 2 points meaning that the users will receive 100, 40 and 60 tokens respectively (in that order).
The critical thing to note here is that they will only be eligible assuming they held the original JuiceboxDAO Benefits airdrop.
Copyright Disclaimer:
Copyright and related rights waived via CC0.