Proposed distribution for a dog token

4 min readApr 14, 2024

(Status: 22. April 2024)

This page provides a track record for the distribution of dog tokens related to the BerneseChain actions.

$BERNESE is a community token. The distribution was planned to take place as snapshot to stakers and locked liquidity providers of a chain that died of abandonment (Cerberus chain).

We consider this airdrop is very valuable due to:

It is a dog;
Logo is CC-BY-SA;
Respect of the intended snapshot, while removing dev allocation;
Cleanup of a crazy airdrop cycle (juno>huahua>crbrus);
Focus on active participants to the security of a ngmi chain;
What was staked on different chains with crazy inflation %, could be restaked in Cerberus from day 0, allowing for fair participation of normal users on high inflation environments;
Fate loves irony.

Date of snapshot

Distribution of the $BERNESE token

$BERNESE tokens have already been distributed to eligible addresses (see below). At the moment, your allocation can be checked on your corresponding osmosis address in mintscan.io/osmosis. (in case of doubt you can use a bech32 converter with prefixes cerberus and osmo. But any Keplr instance with the original account where you had your cerberus will show your osmo address easily.)

Total = 132M $BERNESE, fix supply.

Cerberus On-Chain Stakers† (112206): 120M $BERNESE
Cerberus Locked LP Addresses† (1048): 5M $BERNESE
Solidarity for old cerberus NFT owners (33): 16000 $BERNESE
Validators (74): 356286 $BERNESE
Developer allocation for LP (‡ to be burned at kickoff): 6.6M $BERNESE

† Onchain dust has been removed. Snapshot 14 Feb 2023.

‡ Initial LP GAMM tokens and has been sent to the null address. Pool has been balanced with 6100 $osmo tokens initial liquidity as per 21.04.2024.

Initial Liquidity

While the chunk of liquidity seems small (5%), in real terms benchmarking it makes it one of the coins with most liquidity at start. Since all the initial GAMM tokens (liquidity) will be burnt, exchange price will be able to fluctuate freely in the market. This is comparable to the Liquidity vs MarketCap ratio in Osmosis.

Benchmarking other highly osmosis-focused assets:

Chihuahua (1.44%)
Stargaze (2.34%)
Juno (4.46%)

Rich list and ownership percentage:

The first addresses of the rich list will be as follows:

Initial rich list. 42 addresses take 10% of the supply.

While the biggest actors in this list might take a big % of the initial liquidity (up to 6.55% for the top address), it is considered that the widespread distribution of the token can take the initial deviation.

Full distribution

Can be checked in this spreadsheet.: https://github.com/BerneseChain/resources/blob/main/crbrus_snap-combined_tx_light.ods

Mint, airdrop and burn transactions:

The account osmo1s6ht8qrm8x0eg8xag5x3ckx9mse9g4se248yss has executed all tx’s for the creation and distribution of the token.

The broadcast. PD. Police Dog, Tess, 29–1–35 — by Sam Hood.

Mint transaction: https://www.mintscan.io/osmosis/tx/5D731879E1EE689AA44E3C56EC13E8A7BD8B110B741074C03C02F57C900E2D9B?height=15054376

First airdrop transaction: https://www.mintscan.io/osmosis/tx/C99CB2C8C40C772F2246AEE0927127E561835C6C228CDF542B91F41DAB8BB2C8?height=15054528

Last airdrop transaction: https://www.mintscan.io/osmosis/tx/A4C88F549E78609AD89320C692CC6427AC7588B75037602EFF7E761D2B8FC43A?height=15057162

Minter has been burnt to osmo1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqmcn030, within this transaction: 5CF8…C047B

Gamm 1700 tokens balanced at mint (99,728,440) has been sent to the zero address (inaccessible). (See ‡ above)

Why just a token and not a chain?

While chains are sovereign, they require upgrades and maintenance. As many of the users take LP connection as face value, the closest this token is to the Osmosis LP the better. Therefore, it makes sense to make it an Osmosis native token.

This is a cost-reduction strategy, as no validators will be needed for this token. And this will be a fixed supply token.

Calendar of creation

Creation of the new tokens has already taken place the 19th April.

Fair use of the dog cloud taking over the system on 4/20.

Conclusion

While lots of trust from the creator needs to be taken for this token, the creation is permanent, distribution takes the torch of a dead-chain that was about to close.

The community has grown healthy until this point and risks are low, since initial 5% allocated to LP has been already sent to the ‘zero’ address.

The spirit of this token must be having fun, tipping, learning with owning and sharing tokens, and enjoying dog money taking over DeFi.

PS, for the comunity: Delegations and the original list of stakers/locked liquidity providers of the dead chain (on date 14.02.2023) have been respected as much as possible (being on the same ship, the author does not search gain, but just to close a chapter that will not lead to more deadchains or complicated maintenance, sometimes a token and a Honda Accord is ok).