The Signal IBC Relayer Drop
Project Background
The S.I.G.N.A.L organization, a fringe branch of SETI, is releasing a public call for assistance. There has been a sudden flood of transmissions from the region of Orion’s Belt and it has stumped their research teams. This was the first message they received, which has since been decrypted by the community (solution here):
Signal is a community alternate reality game spanning the Cosmos. The Signal (SGNL) CW20 token is the primary mechanism for community interface and provides project ownership via the Signal DAO. The first year of our project follows a 5 act narrative arc as the community hunts down the origin and meaning of extraterrestrial messages. Ultimately, the team seeks to make a meaningful, fun contribution to the creative ecosystem on IBC.
For further explanation of the vision and plans for Signal, view the White Noise Paper and our Year 1 Signal Distribution and Rewards Overview.
The IBC Relayer Drop
202500 SGNL (15% of supply) will be airdropped to eligible addresses in Cosmos Hub, Osmosis, Juno Network, and Secret Network.
Airdrop eligibility requires an address meet two conditions:
- Delegate to a validator providing IBC relayer services at the time of the April 28 snapshot (we are sorry Pupmos).
- Meet minimum staking requirements on an eligible validator.*
Minimum Staking Requirements
Osmosis Superfluid staking is not counted. We originally thought this was possible and intended to include them but we had bad information. It is not practical to do so without risking the integrity the remaining airdrop specifications.
IBC Relayers and Validators
Validators validate transactions on their own sovereign chain. IBC relayers enable transactions between sovereign IBC chains (every deposit and withdrawal of Atom made on Junoswap or Osmosis, for example).
IBC relayers are generally run by validators. For the purpose of this airdrop, we researched and confirmed validators that run IBC relayers on each of the four chains we are airdropping to.
Eligible Validators
To be eligible, you must meet the minimum staking requirement to above listed validators. We have also included individuals that may have split their delegation across several eligible validators. For example, if you stake 12 Juno with Bro_n_Bro and 15 Juno with Chandra Station, you are eligible.
Allocation
Every address on each chain is checked individually for qualification, and Signal will be distributed evenly across all eligible addresses.
202500 SGNL / number of eligible addresses
Addresses are checked for eligibility individually on each chain, meaning a user will receive a multiplier on their drop if they meet the requirements on multiple chains.
For example, a user staking 100+ Osmo to eligible validators would receive the base drop. If they were also staking 25+ Juno to eligible validators on Juno, they would receive a 2x drop. If they met all requirements on all chains, they would receive a 4x drop.
Snapshots
Snapshots were taken before airdrop eligibility requirements were announced.
Why “IBC Relayer” Drop?
We have no affiliation with the validators included in this airdrop. We assume most were introduced to our project by our airdrop announcement. We opted to do an “IBC relayer drop” for the following reasons:
- IBC relayers play an essential role in the ecosystem despite receiving no compensation and running at a loss. As such, we wanted to take the opportunity to highlight validators who provide this critical service and reward the delegators who support them.
- The median rank of IBC relaying validators by voting power is 106, 47, 57 and 37 for Cosmos Hub, Osmosis, Secret Network and Juno Network respectively. Most have less 0.5% voting power and many are outside the top 100. Therefore we feel this airdrop does not fundamentally contradict best practices in decentralization.
- Signal is a community alternate reality game about contacting intergalactic life. IBC relayers are cool and they fit us thematically.
That said, good validators can contribute to the community in a variety of ways; while we wished to highlight IBC relayers on this airdrop, we recognize there are many great validators that were not included.
Distribution Schedule
Airdrop distribution will coincide with the culmination of Act 1 and the release of our first major NFT collection over late July/early August. It will be staggered across several drops linked to major community puzzles. Read more on our distribution schedule here.
Join the Signal Community
Congratulations to those who are eligible. If you are not and wish you were, please consider joining our alternate reality game. We have periodic giveaways and we need your help understanding these transmissions. Decryption efforts are rewarded with SGNL token.
Here’s the latest (unsolved) transmission:
Thank you from the Signal Team. Join our Discord here.
