GLOW Airdrop Announcement
DAOs require the active participation of its members to maximize the benefits of a new way of governance, where decisions are taken in a decentralized and transparent manner, gaining in efficiency and informational benefits without the need to trust unknown individuals.
For this reason, we’ve decided to reward those who are helping build the Terra ecosystem through a 50M token airdrop. We hope to engage community members that will help GLOW further shape its mission and make yield accessible to everyone.
Taking inspiration from mechanisms like quadratic voting and quadratic funding, the “fairdrop” is meant to decrease distribution inequality in the airdrop set, while still recognizing the contributions of larger stakeholders.
The Terra participants who benefit from the GLOW airdrop are:
- Anchor Stakers
- Luna Stakers
- Anchor Holders
- Anchor Depositors
- Mine Stakers
It’s key that an airdrop distribution is resilient. Therefore, a minimum of 10 UST equivalent was put in place to prevent dust accounts and those pretending to game airdrops. Furthermore, smart contracts and TFL wallets were excluded from the snapshot taken last 26th of October.
An address’ GLOW allocation is proportional to the third root of the sum of the user’s contribution to the relevant services, with a multiplier for Luna Stakers and Anchor Stakers. Thanks to this, GLOW airdrop has a much lower gini index compared to the cumulative distribution of wealth across the selected wallets.
We believe we have found the perfect equilibrium between rewarding early stakeholders and new community members. As such, about 50% of the airdrop goes to wallets with less than 10,000 UST (although they are around 80% of the wallets) across the relevant services, while 50% goes to wallets with greater than 10,000 UST (20% of the wallets).
Airdrop claimable amounts (40M $GLOW) are available for 3 months starting on January 10, 2022 (for the case of Luna Stakers and Anchor Stakers, Holders and Depositors). After the airdrop claim period, unclaimed $GLOW are sent to the Community Pool in order to help recoup value from lost wallets.
On top of that, 10,000,000 $GLOW will be airdropped to long-term $MINE stakers over the 18 months of Pool 1(1% of the Max Token Supply).
Make sure to follow us on our socials:
Twitter: https://twitter.com/glowyield
Discord: discord.gg/glowyield
