How to share $Pink received on Astar Network

TL;DR

The PINK team is allocating 1.01% of total supply to Astar Network.
After the proposal to Register PINK as an XC-20 on Astar Network, it’s time to discuss how to share $PINK to the community.

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

40% 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% for the period 1 and 15% for the period 2.

20% for the governance

Governance is also an important topic in the blockchain. It’s why we would like to reward the users who actively participate in the governance.
With an on-chain governance expected soon, rewarding the user based on their participation is possible and this can be considered to increase the participation.

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 porpose 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.

14 Likes

Thanks for the proposal, I think it is a good use case.

However, since it is unclear when Onchain Governance will be implemented, it might be better to assign it to dApp Staker or zkEVM user.
Also, I think EVM is more suitable than Native for assigning to zkEVM users, considering the user UX and distribution procedures.

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Hey GuiGou!

Thanks for the proposal. I kind of like the allocation breakdown. Fair enough to me, especially the allocation meant for users who could bridge ETH to Astar. I believe that this will add huge value to the Astar community.

Thank you :pray:

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I think the distribution written by @GuiGou is right and these efforts must be used to raise awareness of Astar and especially PINK. In the end, the purpose of meme coins is to entertain and I don’t think we have to wait months for the proposal etc. to pass. I believe that with the progress of PINK, the management done by the Astar community may also change. I would aim to get everything passed as soon as possible before the memecoin interest passes

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I think it’s a fair distribution :+1:

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Allocation proposal looks good. I support it.

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I am of the opinion that the subvention and distribution of tokens is ideal, so I support the proposal you put forward mate. Astar is pink!

2 Likes

PINK’s distribution system is great, for Astar, I agree with her!

The memes tokens are a good tool to make community!

Bonk brought a lot of users to Solana, I hope PINK can do the same with Astar!

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Thank you so much for your clarification. It was loud and clear =)

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Honestly I like the allocation for future dApps on Wasm and zkEVM. Also we should spread words that if users stake now they are eligible for PINK.

4 Likes

Thanks for the proposal!

To push WASM and zkEVM growth with PINK is indeed a good idea!

WebAssembly Is the Future, EVM Is Right Now! - Gavin Wood

By preparing right, we can conquer the future! :japanese_ogre:

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That’s a nice and fair mechanism of distribution!
I support it.

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I would like to share my support for this fair distribution, I think PINK should be great for the Astar community and hopefully we can attract some more new users!

2 Likes

I think fairness of the allocation, you may want to consider the principles of transparency, accessibility, and inclusivity. Assess whether the allocation process is well-communicated, open to a broad range of participants, and if it provides equal opportunities. Additionally, community feedback and consensus on the fairness of the allocation can be valuable in making an informed judgment.

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Thank you for the proposal!
The information was well-organized and very easy to understand.

I also agree with you425 that it would be better to allocate the portion for “for the governance” elsewhere. For example, allocating it to “for users who bridge ETH into Astar zkEVM” might be a good idea since it can further boost the launch of Astar zkEVM.

Meme coins rely on momentum, so it would be good if we could allocate tokens to areas that are currently attracting user attention.

3 Likes

I support the proposed breakdown, but I think we could be more specific about the PINK token allocation criteria for each category and how addresses or dApps will be selected.

40% for dApp Staking

  • 25% for stakers who vote during the Voting Period #1. This period is now over and the snapshot should be taken.
  • 15% for stakers who vote during the Voting Period #2 (Starting during the 2nd week of June)

How will this allocation be shared between stakers? Equally between all stakers or according to their stake?

20% for the governance

  • How will this allocation be shared between voters?
  • If it’s based on participation, what’s the time frame? Will Pink be distributed equally among all voters over a certain period?
  • How can we prevent malicious users from creating multiple addresses to vote with 1 ASTR with 1000 addresses in order to get a larger share of the distribution?

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

  • In this case, an interface will have to be developed for this, which means additional work compared to automated distribution. In addition, how will the addresses between zkEVM and Astar native be associated?

  • How will this allocation be shared between users bridging tokens? Equally between all of them or according to the ETH transferred? I’m more in favor of the second option.

20% for the future dApps

  • What would be the distribution between dApps?
  • Who are the eligible dApps? Specific criteria? On-chain metric?

I’m open to all suggestions from the community.

If we all agree on the allocation, we can already vote on that and continue to discuss the details over time.

4 Likes

I am in favor to share equally between all stakers but maybe could we open a vote to decide?

I would say same allocation for all participants but with some criteria (to set) to limit bots or other abuses

Yes that means additional work. A “simple” solution could be a UI where the user links their evm address to their substrate address. Then, Pink token will be airdropped to the substrate address. We can allocate a share of Pink to develop this UI + smart contract + scripts

I also in favor of the second option with a minimun of bridged ETH to be eligible.

Totally agree, we can vote the general breakdown and then, we will go in the details.