Let’s Concentrate Together!
Have you heard? Something big is brewing at Concentrator! We are democratizing ownership to our community with a new governance and revenue-controlling token, via a novel mechanism called an Initial Farm Offering. Our IFO is a new approach, it’s super fair, it’s an amazing opportunity, and you can see all the details here.
The IFO is not the only new idea that Concentrator is bringing to the DeFi world as part of the token launch, and it’s not the only way to get your hands on some turbo-cash-flow CTR tokens. Enter the Community Booster Allocation. This token allocation plan is a simple answer to a difficult question: as a small team of builders (not marketers!), how can we encourage and reward help from the community during the farming offering and beyond, in a fair and transparent way? We’re so not into buying shill tweets from disinterested influencers :)
The Plan
We will set aside a significant amount (3%) of the total CTR tokens to distribute among community members that best help spread the Concentrator IFO story, educate the community, and/or generally boost the impact of the IFO for Concentrator. We’re thinking of content creation, community building, investor education, and DAO partnerships, but if you have an idea outside the box, bring it! The team will track booster nominees (see The Details for, um, details) but the veCTR holders will decide rewards in the end.
After the end of the IFO, the ve locking system will be switched on, and one of the first votes by veCTR token holders will be to identify the best community boosters. By using a community vote, we can achieve maximum fairness and hopefully reward many different types of contributions. Boosters will each be rewarded a share of the 3% allocation according to how many votes they get.
While the idea of the community booster program is partly to encourage participation and help from the community, it’s mostly about identifying our most supportive community members, rewarding them well, and bringing them into the Concentrator governance process. We see true decentralization and community ownership as perhaps the most important aspect of Concentrator’s long-term viability and growth potential, and getting governance power into the hands of many people truly aligned with our goals is crucial.
The whole thing is designed to be as frictionless as possible, to allow people to contribute based on their strengths and resources, and even to reward Concentrator community members that are not specifically participating in the program. Nominees may wish to self-promote their contributions to earn more votes (which can be done in the Aladdin discord again), or simply let their work do the talking. Ultimately the rewards are determined by the voting will of the community.
Since the allocation, voting, and rewards are all public, the incentives are clear for everyone. Nobody will know for sure that they will receive any reward during the IFO (though they can confirm with the team they will be on the ballot). Since people don’t need to specifically participate in order to receive an award, there may be a case where a recipient wishes to decline (for example, if someone with a platform wishes to remain impartial). The transparency of the whole process allows such a recipient to, for example, publicly donate their tokens without any lingering questions of how many they were awarded in the first place.
The Details
The nomination process for the community booster allocation will be managed by the Concentrator team. Nominations can be made either by the Concentrator team or by any community member holding a minimum of 2500 aCRV. Only one nomination is allowed per wallet, and the 2500 aCRV holdings will be verified after the deadline to prevent double-nominations. The Concentrator team does reserve the right to veto exploitative nominations (sybil attacks or other bad faith participation). For any potential booster who wishes to participate but does not themselves hold 2500 aCRV, just introduce yourself in the Discord and show off your work. Either the Concentrator team or a community member with 2500 aCRV will be happy to nominate you! Nomination does not guarantee payment — that decision will be made by veCTR voters.
To nominate yourself or someone else, head to the #contribute-concentrator channel in the Aladdin Discord and check out the pinned messages for detailed instructions. Among other steps, you should post a message about why you, or your nominee, deserves to be considered for the program. What you write in this public channel will likely be considered by the veCTR voters later, so make a good impression, and leave a reaction for other nominations you like!
For the final allocation vote by veCTR holders, the Concentrator treasury tokens will abstain, and the Aladdin treasury veCTR tokens will vote based on a separate Snapshot vote by xALD holders (xALD held by the Aladdin treasury will also abstain). Members or affiliates of the Concentrator team or AladdinDAO may be nominated for this allocation, however they will compete on equal footing and be considered no differently from any other nominees in the vote.
The Message
We think Concentrator’s farm-and-hold approach represents a superior paradigm for DeFi yield enhancement: higher yields for farmers and better alignment between farmers and the protocols being farmed. Concentrator makes it simple and accessible to execute smart farming strategies, like holding low-risk, blue chip core assets and using them to acquire higher risk / higher reward assets. We believe this more positive, pragmatic approach to farming is the true path to WAGMI.
The booster allocation is decided by community vote, we don’t know exactly what will resonate with the voters. The veCTR holders all have a vested interest in attracting TVL to the platform and increasing revenue, so anything that helps to attract new people to try out Concentrator, and especially to participate in the IFO, will probably be received well.
LFG
The Community Booster program is designed to be fair, transparent and rewarding. If you want to help Concentrator succeed, and want to share in that success, this is an amazing opportunity to earn significant ownership without needing to bring big capital. Let’s help each other grow! Come to the Discord to introduce yourself, and then get started!
