Summary
Airdrop up to 6,613,000 FOX Tokens to 33,065 token holders of the original list of 13 DAO communities who were missed due to staking or LPing.
Abstract
In the original FOX airdrop that was announced on July 15, 2021 and is still ongoing, 200 FOX was rewarded to 123,827 DAO community members for a total of 24,765,400 FOX. These DAO community members were identified by holding at least $1,500 of one or more of 13 governance tokens listed below during a snapshot taken at block 12597000 on June 9th, 2021. Unfortunately, as many quickly pointed out, any token holders who were staking or LPing their tokens were missed in this snapshot and did not receive the 200 FOX airdrop.
We’ve now compiled the list of token holders who were staking or providing liquidity during the snapshot, and FOX Token holders can now vote to approve a follow up airdrop (aka Fairdrop) to reward these community members and encourage them to join and support the ShapeShift ecosystem.
Fortunately, the vast majority of the development work necessary to enact this has already been completed, including compiling the lists of eligible addresses. Furthermore, the existing mobile and web UI can be utilized without any changes, and the same contracts and deployment script used for the original airdrop can be reused with the new list, so the overall development effort required is quite low.
This proposal also requests 2000 FOX (current estimate, subject to change in ideation) to pay the security workstream to audit the list and confirm the intended, and only the intended addresses are included.
Motivation & Benefits
The idea for this proposal was suggested by several community members and Twitter followers, many of whom were missed in the original drop. These are addresses we wanted to include in the original list, but with the thousand other things we were scrambling to get ready for launch, we settled knowing we could always follow up with a proposal to the DAO. This is that proposal!
Each of the DAOs included in the list are among the first pioneering DAOs that we are either already partnered/affiliated with, would like to partner/affiliate with, or are inspired and empowered by. In our quest to be one of the top DAOs and decentralize our governance to the community of crypto users, I believe it will be beneficial to airdrop a small amount of FOX Tokens (200) to each address on the list as tribute, good faith, and to encourage them to join or support us.
Specification
There are 33,065 unique addresses included in the new list, each of which would be eligible to claim 200 FOX if this proposal passes (up to 6,613,000 FOX in total).
If this proposal passes, a copy of the same merkle proof smart contract used in ShapeShift’s original airdrop will be deployed awarding these 33,065 unique addresses with 200 FOX each. This contract will be connected to the existing airdrop claim UIs on web and mobile and eligible addresses will have ~30 days to claim their airdrop before the claimable amount begins decreasing 10% per day.
A significant amount of FOX will inevitably go unclaimed and can be transferred to the DAO’s Treasury along with the unclaimed FOX from the original airdrop on Oct 23, 2021. Furthermore, the airdrop contract doesn’t need to be funded 100% up front and can be topped off as it’s drained.
The list was generated by @mcchadwick using open-source code and public API endpoints along with input from the community on which staking and LP contracts to include. We did our best to ensure as many addresses were included as possible, although unfortunately were not able to include any Uniswap v3 liquidity pools due to how much differently their LP tokens function relative to the other AMM DEXs. Furthermore, any addresses that were already included in the original airdrop were not included in this follow up airdrop as it would have caused complications in using the same UIs and added a large amount of scope.
We welcome any review and feedback on the list before the proposal passes and the contract is funded.
List of eligible addresses
Details of how the list was generated and which staking contracts and liquidity pools were used
Funds requested
Total: up to 6,625,000 FOX
- 6,613,000 FOX up to this amount can be claimed by eligible airdrop recipients
- 5,000 FOX to cover creation of the address list (the work for this has already been completed and $1000+ has already been spent out of pocket)
- 2,000 FOX to cover an audit of the list by the security workstream (current estimate, subject to change during ideation phase)
- 5,000 FOX to cover the development expenses, including generating the Merkle tree, updating the original airdrop contract with the new dates and addresses, deploying the airdrop contract, and wiring the new airdrop contract into the existing mobile, beta.shapeshift.com, and fox.shapeshift.com UI/UX for claiming.
- Up to 5,000 FOX to cover the gas costs for deploying the contract. Any unused FOX will be returned to the DAO's treasury.
Drawbacks
This proposal is requesting a significant amount of FOX from the Treasury to essentially give it away. There is no guarantee any recipients of this airdrop will add any meaningful value to the ShapeShift ecosystem.
