Astar Crowdloan Whitelist Proposal

Astar
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We have learned a lot from the Kusama crowdloan. And today, I would like to propose a new whitelist system for the Polkadot crowdloan.

The most important thing is that we distribute Astar Network tokens to people who will contribute to the ecosystem. The key question is that how can we distinguish people who dump tokens and people who contribute to our ecosystem. There was no way to distinguish them before the Kusama auction. However, we will distribute SDN tokens and list SDN shortly. All transfers are viewable on Subscan and other blockchain explorers.

Hence, it is possible to distinguish them if we monitor all addresses and transactions. Here is the way how it works.

  • SDN token is distributed to people who join either lockdrop or crowdloan.
  • The core team takes a snapshot at the time of X (before the Astar Crowdloan). And the users who hodl SDN tokens at the time of X can be registered in the Astar Crowdloan whitelist and get additonal bonus in Astar tokens.
  • Staking SDN is possible but people who transfer SDN to another address can’t be registered in the whitelist.

Again, the main purpose of the Astar Polkadot crowdloan is to distribute tokens to people who contribute to the ecosystem.

10 Likes
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Dumpers getting rekt.

This is good. We want to have a healthy community instead of just market speculators.

But what if the address have moved 50% or whatever X% of the original amount it has, will it still qualify for the whitelist bonus?

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The problem in my case is that I will transfer SDN from my actual account to another in order to proper setup validator and staking account…
For me, making a correct distinction is practically impossible, because you should evaluate case by case for a very high total number of users :neutral_face:

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I like this idea. If it will be final decision people need to be informed

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Perhaps, all addresses that hold or stake SDN during the snapshot (which shouldn’t be disclosed) qualify for the bonus. Regardless if the address participated in crowdloan or lockdrop.

Some people might dump but some people will buy and hold.

The other way is to whitelist only those who stake. Which is easier.

The idea is good, we just have to find the best way to execute it.

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Yes, in that case I agree with you :wink: because some people will need to change address used for lockdrop or crowdloan for example

Also for validators will setup several addresses…

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Good idea, the project needs trusted people

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I like the idea, we hope to hear more opinions about it.

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Rewarding holders and contributors of the ecosystem is a great idea for community involvement but will need to be handled carefully in the case of a whitelisting, new people can come to the Astar crowdloan and should be able to participate, a bonus system for holders would be more appropriated imo.

There should be some exceptions to take into account for the on-chain analysis to stay fair:

  • Transfering to another owned account
  • Exchange some SDN for DOT at the time of Polkadot crowdloan to participate to Astar crowdloan (I planned to do that for example)
  • Set a reasonable % between crowdloan reward and actual holding (like holding at least 90% of it), unless we want participants to hold everything.
    Ready to help on discussions for this one :slight_smile:

bLd

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Making a correct distinction according on-chain data (transfers, staking) may not be possible. There are many cases when users sell (transfer) their tokens, but they are useful participants at the same time. Poggi Luca described one of this cases.

My situation: I’m planning to exchange my SDN from the 2nd lock drop to DOT and use this additional funds in Astar crowdloan. According current rules I am a dumper. Yes, I am not a dev, but I am not a stupid dumper too :slightly_smiling_face:

In other hand holding or staking are weak contributions without additional activities IMO.

All I want to say is an automatic distinction according on-chain data can´t be 100% fair.

What about tiers?

For example:

Tier 1: Developers and Ambassadors: 30% additional bonus;
Tier 2: Active forum/TG users: 20% additional bonus;
…
Tier N: regular users: 0% additional bonus.

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looks a good idea, maybe account owners that need to trasfer tokens can explain it and put the collator/validator destination account here/tg/discord before send.

i think dusty validators deserves a % bonus too.

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I think the odea is valid. but it must be considered that it is not correct towards those who supported the project since the first lockdrop. people who believe in this project from the first or second lockdrop would be forced not to transfer their tokens, despite being sure supporters of the project. Transferring tokens by itself shouldn’t be seen as a bad thing.

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I think this idea is good.
However, the following points are of concern. It is related to the development plan with Shiden Network.

  • Looking at Notion on the Shiden Network, the time points for “Contract Module to be available” and “dApps Stakaing to be available” are approaching.

  • Astar’s Crowdloan and Shiden’s development plans focus on the order in time.

  • If Shiden development progresses and dApps development becomes possible, I am wondering if this Shiden Token transfer restriction will not be a problem.

If you can adjust Astar’s Crowdloan to come first, or exclude the use of tokens in Contract development, I think there is no problem.

1 Like
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Great idea! Rewarding holders for their commitment is ideal. I know theres different reasons for selling for many, perhaps a scaled percentage bonus?

Bonuses can be rewarded based on how much a user doesn’t sell

  • Full bonus if nothing is sold.
  • The more you sell, the less of a bonus you receive.
  • No bonus if you sell more than 50% of your holdings.

I understand the different reasons but implementing a simply formula across the board may be beneficial.

The point is to bring new funds onboard. Not to convert from one to another imo.

Maybe each unique case can be handle individually but that may open up for the team for extra work.

Just my thoughts and adding to the discussion.

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these suggestions say all okay .

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It´s a nice proposal.
Either hold or stake should be valid.

I agree with some suggestions, make a progressive bonus, like 100%/80%/60%
But if not I wont complain.

keen to see this project working.

1 Like
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Bonus factor

SDN Stakers: 10/5
SDN Holders: 7/5
Stage 1 crowdloan: 6/5
Stage 2 crowdloan: 5/5
Stage 3 crowdloan: 4/5

and so on.

The wallet that stakes SDN, regardless of which crowdloan stage they join, will get 10/5. Same rule applies to SDN holders.

Possible to compute?

Edit*
I would like to add the minimum amount of SDN to stake/hold to qualify. Since not everybody is a whale, and we also appreciate the little fishes, shrimps and the squids, maybe 100 SDN as a minimum should be reasonable.

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Great suggestion. I am voting for this :+1:

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Me to. Sounds reasonable and fair

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Not clear for me, I have two separate independent addresses one for KSM and one for DOT. I have participated in Shiden crowdloan from KSM address, let’s say I will not move my SDN tokens and then will participate in Astar crowdloan from my DOT address, how you will identify me in this case as my DOT address not the same as KSM address?

2 Likes