How to share $Pink received on Astar Network (Revised version)

Astar Network (Polkadot)
1

TL;DR

The PINK team allocated 1.01% of total supply to Astar Network and 23 287 500 PINK was sent to the multisig managed by:

  • @Gaius_sama as Astar Team member,
  • Mar1dev as Pink Community member,
  • @GuiGou as Astar Agent.

Here is the transfer: Subscan | Aggregate Substrate ecological network high-precision Web3 explorer

We worked on the snapshot to get all addresses that staked during the voting sub-period and we have 9 000 addresses for the period 1.

If we allocate 25% of PINK to these 9 000 addresses, many addresses will receive 1 or 2 PINK.
From our point of view, it doesn’t make sense because:

  • the fee for the transfer will be higher than the value transferred,
  • if the user wants to trade or transfer this amount, again the fee for the transfer will be higher than the value transferred.

It’s why, we would like to propose this new allocation, which will replace the previous one.

New Allocation Breakdown:

  • 60% to those who stake during the voting period in dApp Staking V3
  • 20% to be distributed to future dApps which will develop on wasm or zkEVM
  • 20% to be distributed to users who bridge ETH into Astar zkEVM

For reminder, here the previous Allocation Breakdown:

  • 40% to those who stake during the voting period in dApp Staking V3
  • 20% to those who will actively participate in governance
  • 20% to be distributed to future dApps which will develop on wasm or zkEVM
  • 20% to be distributed to users who bridge ETH into Astar zkEVM

60% for dApp Staking

Because the dApp Staking is a main and unique feature in Astar Network, the user who votes on their favorite dApp(s) during the voting period will be rewarded.
At the end of each voting subperiods, a snapshot will be taken and the voters will share 25% 40% for the period 1 and 15% 20% for the period 2.

  • Eligibility criteria: Only addresses with at least 1 000 ASTR staked will be eligible to the airdrop.
  • Max cap: The PINK amount transferred will not be higher than 50 000 PINK by address.
  • Transaction fees: 0.5% will be used to cover transaction fees.

20% for users who bridge ETH into Astar zkEVM and claim it on Astar Native or Astar EVM

Sometimes good technology is not enough, you also need a gift to attract new users in an ecosystem. It’s why we propose to allocate 20% to the users who bridge ETH into Astar zkEVM. This user will have to claim $Pink on Astar Native or Astar EVM. This will be the opportunity to introduce them to the other chains, features and dApps on Astar Network and on the amazing Polkadot ecosystem.

20% for the future dApps

Because a blockchain without dApps is useless, 20% can be allocated to future dApps that request it with a preference for dApps that will develop on WASM / Ink! or deploy on Astar zkEVM.
WebAssembly (WASM) and ink! environments are also unique and a key features on Astar Network. It’s why we would like to reward developers who create innovative dApps on these technologies.
Astar zkEVM allows to do the bridge between Polkadot and Ethereum. Making eligible Astar zkEVM user sand claim this airdrop on Astar Native is the opportunity to introduce them to the amazing ecosystem that is Polkadot.

19 Likes
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Personally, I think that this allocation is much better than the previous one, as you rightly point out, we will now be able to pay gas tariffs with the amount that users can receive depending on their stake. In short, I support this new allocation.

Great job! Very well explained the change and very well justified.

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I agree with the changes.

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Agree! With only few amount, I believe this should be a good catalyst for community to do trade with Pink, and bringing txs to Astar L1.

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I think it was a Solomonic solution! This new proposal has given balance to the distribution plans and has been very well received by the PINK team.

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I like this new proposal a lot, it is a waste of PINK to send a small amount that cannot cover the fees, and a minor comment for the Eligibility criteria: “Only addresses with 1000 ASTR” should be changed to “Only addresses with at least 1000 ASTR” :slight_smile:

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You are right, I did the update. Thanks!

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I completely agree with this proposal.
Thank you for handling the distribution of PINK, even though you have other tasks to manage. We appreciate @GuiGou @Gaius_sama all.

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Hi GuiGou, glad to see the revised version about the $PINK airdrop allocation! Thanks for sharing it with the community.

  1. I believe both the native wallets and the EVM wallets were taken into account for the airdrop. I am curious if XCM will be executed to distribute $PINK for those who staked their $ASTR on the EVM side.

  2. 20% of $PINK allocation will be reserved for those who bridged $ETH into Astar zkEVM. The users brought their $ETH into Astar zkEVM are important, so are the actual users. The actual users refer to those who actively paying gas fee, meaning, for example, the Yoki participants. Probably, some portion or even half (10%) can be allocated for them. Some could argue that they will already be rewarded from the Yoki Origins campaign, but I would say the more the better for the participants and make this airdrop more meaningful.

I think the allocation itself looks good and look forward to seeing my $PINK :smile:

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I agree with this change. :clap:

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Thanks for the suggestion. I am in favor of this change!

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Great message to our beloved dApp stakers! :muscle:

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I agree with that. Creating a mechanism of incentives for people to stake in DApp, as well as bridging some assets for Astar zkEVM, can be very beneficial.

It will be more important for us as a community to showcase all the opportunities for ecosystem airdrops that will occur this year. The landscape is very competitive for liquidity coming from other Layer 2 solutions.

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Agree, and just thought (and perhaps already others did the same) this airdrop could make people motivate to stake or participate more on Astar ecosystem so that they can be potentially airdropped by the effort they have spent!

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Great proposal. Looks good :+1:

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[quote=“GuiGou, post:1, topic:6519, full:true”]I need to make some additions. This new proposal is definitely better than the previous one, but it has shortcomings.

In particular, we should allocate 20% of future projects to BASE users;

$PINK can help us to attract a high percentage of audience at no cost. I’ve been in the Airdrop community for a long time and Airdrop culture has evolved to a very different place today. The biggest reason for this is modular blockchain structures.
Even if these projects are currently released in the cosmos ecosystem, they can go and Airdrop to users in the Avalaunche ecosystem or important nft collectors. (Wormhole, Celestia and many more)

This is called a vampire attack. You use it to attract users who are active on the other network and have taken ownership of your network, and it is an extremely effective method. It brings a lot of hype to the token prices/products of the project.

If we are a Layer2 project, our target should be active Layer2 users. Right now, all the degen on all the networks are running on the BASE network. The money from the meme craze in Solana has shifted here. Also, since BASE uses OPStack, its users are used to getting small airdrops all the time.

Also, if you look at the wallet addresses, if a user has used one Layer2, they’ve used another, and they tend to do that. Rather than going to another ecosystem (solana, avalaunche, cosmos), it happens in the Ethereum ecosystem. So this means that we can bring BASE users to Astar zkEVM. Because we are one of the ecosystems that these users are used to.

If we airdrop to BASE users, we can attract them to the network. They can bring money and hype to the network and increase our TPS. They revitalize our DeFi ecosystem.

My suggestion is to send the 20% allocated for future project developers to BASE users.

During the dApp Staking V3 Voting process, we should throw x amount of airdrops to people who have used BASE. (We can raise the criteria here because I’m sure the number of wallets is high. we can target the active, OG crowd).

During the dApp Staking V3 Voting process, we should assign 2x amount to people who both used BASE and sent $ETH to Astar zkEVM, etc.

Moonbeam also announced that they are working on OFC contracts and they are thinking of moving $pink to BASE. (If moonbeam can do it, so can we.) This would make our job much easier. The only problem is that we need people to work on the OFC contract (I can find people for that, we just need to pay them. It won’t be too costly)

(for example, in the image, you can see the ecosystems where wormhole airdrops)

GIDuMJHXEAAn_e7
GIDuMJHXEAAn_e71000Ă—563 55.5 KB

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Thanks for the proposal. I agreeed with this =)

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How will you do the link between a substrate address and an EVM address?
Personnaly I have different wallets for substrate and evm chains and I never staked on dAppStaking with an evm wallet except for the tests.

I think the OFC contract for $PINK is already deployed on Base.

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And what do you think if instead of airdopping PINK to the BASE users, we brought them in with a promise of winning a big jackpot.
We are developing a dApp, named Lotto (I am sure you already know this game), in which the user can win 1M or 2M Pink if he find the 3 or 4 correct numbers.
This Lotto will be 100% decentralized (and trustless) with smart contracts and phat contracts (same techologies used for Lucky dApp).
I already started to build the substrate version. Feel free to develop the evm version for Astar zkEVM. I could help you.

2 Likes
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Hey,
I think the changes to the distribution are good and support them.

For the 20% for future dApps, is there a selection process by the multisig members who will receive Pink when they request it?

1 Like