[Proposal] KPI Option Airdrops

Proposals
#9

I am opposed to air dropping tokens to those not involved with the protocol. Especially when the governance token is not directly economically tied into the performance of the indices.

If you want to complicate things you could reward with tokens on a vesting schedule(like hegic), but I don’t think that is necessary here.

DEV resources should be pumping out new products. This isn’t some niche product where we need to focus on attracting users. If we have the best index platform… the rest will take care of itself.

5 Likes
#10

If it (a yield aggregator or any other protocol that received the tokens) had a DAO why couldn’t it vote on how to handle the NDX tokens and then act accordingly?

#11

I think Christmas has move of a positive marketing timeline than a negative one, but I do actually really like that you included multiple responses to this post and I agree that it should be discussed more. I think it would be a great way for us to spread the token and community, this seems somewhat self serving but I actually believe it enough to just say it, I also like the idea of rewarding various actions and postings in governance and the discord group, not just for this project but in general and I see this as related in growing the user and community base.

1 Like
#12

Hello,

Is it conceivable to allocate for exemple :

  • 20% of the KPI Options to NDX holders (or LP provider on CC10/DEFI5/NDX/ORAC5)
  • 50% airdropped to external people (best target ?)
  • 30% for sale with an attractive price (in ETH or NDX ?)
1 Like
#13

Aye @Cosmicfrog - we’ll be able to be as flexible as we want in this regard - any option tokens minted via the UMA platform, we’ll just transfer to the treasury and be able to disburse subject to whatever we decide.

#14

OK thanks :+1:

And maybe don’t unlock all the KPI Options at the same time ?
Maybe 40% on the 01/04 to communicate on the project and option mechanism, then 30% on the 01/05 and 30% on the 01/06 ?

Because if we want to attract a lot of new people, we have to give a chance for all interested people to acquire KPI Option at a preferential price (in addition to the le LP ‘KPI Option - ETH’).

For example if I talk about the project to my friends, or my twitter followers, they will tell me "OK, I find this project very interesting, I want to get involved in, but only if can get some KPI options at their “starting price” "

#15

KPI Options definitely sound like a good way of distribution, especially linked to a metric like TVL. It avoids the risk of dumps and incetivizes growth so in favour here.

In my opinion a larger part should however go to early participants of Indexed, who took the early risk. Something like this was also mentioned early on in a medium post, don’t know why it changed.

I join aatt44zz in that I am not in favour of airdropping tokens to people just for having used another defi protocol at some point in time.

#16

I do think we’re going to see something of a schism here between people who think that because they’ve been early supporters, they should reap the benefits, and those that think that exposure to those that have been demonstrably engaged in prior DAO governance (or good practice in DeFi) is a plus.

It’s not my place to decide who’s ‘right’ here (since I’m simply another voice in this, rather than a driver), but I will put on record my belief that there’s likely a significant overlap between the type of people who would qualify for the airdrop who are already NDX holders, and those that we want to bring to - and keep in - the fold, in contrast to the yield-farming “so long, and thanks for all the fish” contingent.

Personally, I’m against the idea of airdropping anything beyond a fraction (e.g. 10%) to all NDX holders simply for the sake of checking a box that says “we did an airdrop”. Then again, my voting weight is about 20x less than blurred.eth’s, so maybe I’m not the one to appeal to. :wink:

@M4X - to clarify a point here:

Something like this was also mentioned early on in a medium post, don’t know why it changed.

I assume you refer to this post, which previously referenced “20% will be distributed (to DeFi users)” rather than it’s current form. If that’s the case, then this proposal is entirely in the spirit of branching out to non-NDX holders: we aren’t the only ‘DeFi users’ in town.

A more up-to-date take on these figures can be found here - I’m the one that removed “to DeFi users” from this page (per this PR) precisely to nullify the implication of an airdrop to early holders. Of course, now we’re having this discussion again in any case, so… oops.

As I said - this needs discussing, at some length - so I’m grateful people are chipping in with their thoughts.

2 Likes
#17

I think the KPI options idea is interesting. There are several other ways this airdrop could be executed but I will not debate this here. My point relates more to the importance of a protocol like indexed to stick with what was laid out originally to early adopters ( those that took on most of the risk, most importantly smart contract risk that comes along with any new Defi protocol - audited or not).

The orginal message of the indexed launch was “20% will be distributed to Defi users after January 22nd”. This can obviously b interpreted in several ways, but I think being in DeFi for some time we have become used to interpret this sentence as “20% or at least part of that will go to early adopters of the protocol”. In my opinion, any early adopter who helped to make this protocol gain traction factored that into their decision-making. I think it is important for the longevity of the protocol to communicate clearly and stick to promises that influenced DeFi investors’ decision making. I will personally vote in favor of that 20% airdrop to happen. In which form this airdrop will be executed is another discussion. As a side note, I find it disturbing that these articles get edited instead of making an official announcement over a change of strategy.

Keep in mind that these thoughts are based on my limited awareness of what has been discussed and what is actually going on. So I am very happy to be proven wrong on any of the points I make.

3 Likes
#18

With regards to execution, my take would be to give 5% of the 20% to early adopters and the remaining 15% to a very broad and large base of Defi users. Large enough so that any of these Defi users would get some value below 500$ at current market price. Given current gas costs, a dump is unlikely for that amount and a long term hodl makes economical sense. At the same time the awareness about indexed would be increasing tremendously probably having a very positive impact on TVL.

1 Like
#20

Alright so i am still highly skeptical about rewarding governance rights to people who have had no stake or interest in the protocol with pretty much free money just cause they’re generally active, as these users tend to just be profit focused rather than long term focused as many long term focused people tend not to be trying all the protocols and use cases but are selective with the ones they want to hold and participate through say building not degen defi users. That being said if the airdrop went to the right users (say people that have participated with governance before where there was no reward or monetary reason to do so) then this could help.

My main concerns this. What has more impact, free money to many as a hope to attract users or using that same capital to say launch a new reward pool or sponsor a hackathon.

Am down for an allocation to an airdrop but would prefer to see it capped at say 200k ndx not 1m.

2 Likes
#21

nice decision, how to vote?

#22

I think the concept of the KPI Option Airdrops is game theoretically sound… People are always motivated to participate and go the extra mile when there’s an incentive involved… At least one that seems quite fair…

1 Like
#23

What is airdrop criteria???

#24

Bro…?
Are u know about the airdrop criteria…?

#25

All this proposal are good, just as @bitAlmond has said, people tend to take an active part in the success of a program when they believe they are fairly rewarded, with a fair reward people or participant will ensure those set KPI’s are emt

#26

Hello, is there any deadline to launch a vote/proposition on the KPI Options ?
As regards airdrop criteria who will decide what they will be ?
100% airdropped ? no sale ?

How many to NDX holders ? voters ? forumers ?

It would be nice to progress on this question, maybe with some polls ?

#27

The airdrop criteria hasn’t been determined yet…

1 Like
#28

I’m really not a fan of airdrops and the optics that a lot of people associate with them, mainly that the projects are desperate for new users. I cant argue though because the KPI options do seem to address the main three points you laid out in the post.

I cant help but feel a little sore that users who have contributed nothing to the project might be rewarded and potentially dump any tokens they receive.

#29

I think that the main question for any airdrop is do you go wide or narrow? Do you go the inverse.finance route or the badger route? There are upsides and downsides to each. On one hand, Indexed has already been doing a fairly long term liquidity mining program for the governance token and their does not seem to me to be a need to draw wide spread interest or name recognition in the way that Badger did. I do think that drawing value to the NDX token should be a priority, and that prioritizing long term holders/stakers would be my personal preference if there were any future incentivized drop. Not that I think that is necessarily something the community need vote in.

2 Likes