Valkyrie Protocol — 2.0 — $VKR Distribution Plan Details

Valkyrie Protocol has been committed to the reconstruction, and now relaunching efforts in the new Terra 2.0 universe. As such, Valkyrie will continue to position itself as the main Dapp Activator protocol, initiating launch campaigns and token sales staying mission focused.

The Valkyrie Community is actually bigger and stronger than ever before. We thank the community for staying patient with us as we mark and develop our future roadmap in the Terra ecosystem.

We have been strategizing the best way forward, and have finalized our distribution plan in Terra 2.0. As such, going forward, the Valkyrie Token in the Terra Classic mainnet or v1.0. will now be referred to as “Valkyrie Classic” with symbol $VKRC. The new token released in the upcoming launch will be called “Valkyrie Token” with symbol $VKR.

The Valkyrie 2.0 Distribution plan

The Snapshot:

As indicated previously, the snapshots for distribution from $VKRC holders have been taken in accordance with Terra’s Revival Plan 2.0. You can read about the detailed snapshots here (by Terra — add terra’s link ) and here (by Valkyrie — add VKR’s medium)

TL;DR:
- “Pre-attack” snapshot to be taken at at Terra Classic block 7544910 (2022.05.07 23:00:04+08:00)
- Post-attack” snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00)

Which wallets have been captured?:

As aforementioned again in the previous Medium article (LINK), the following $VKRC are considered for distribution:

✅ $VKRC Holders on Wallet

✅ Governance Stakers on Valkyrie Webapp

✅ LP Providers on Valkyrie Webapp or Astroport

✅ $VKRC farmers on Spectrum Protocol

✅ $VKRC farmers on Apollo DAO

✅ $VKRC traders in MEXC exchange**
**Please be reminded that MEXC will organize their own distribution with advice from the Valkyrie team.

The Distribution Criteria:

After calculations are all done and ready for distribution, Valkyrie will call upon the community to start claiming their airdrops. The date is still TBD, but this is likely going to be in sync with the Valkyrie 2.0 launch on Terra 2.0. Please be reminded that now that Terra 2.0 has launched, protocols are now looking to subsequently launch as well. This depends on DEXs coming onboard such as Astroport or Phoenix. Once these DEXs are launched, Valkyrie will announce the launch date.

Token Distribution Plan Details

The token distribution for the $VKR will be executed as follows:

1. Distribution Weight Ratio Methodology:

The following has been decided in best efforts to compensate $VKRC holders after the collapse, in the most fair way for the most loyal holders of $VKRC.

Background:

On May 8th, an unexpected attack on the UST peg started a downward collapse of the UST and Terra LUNA. As $VKRC was also denominated in UST, the price of $VKRC also fell. By May 12, the UST peg was far below 0.5 and LUNA was worth less than a penny. The following week, builders from the Terra Ecosystem collapse launched and executed a plan to revive Terra, and Terra 2.0 was launched by May 28th, 2022. The Valkyrie team was among the builder association committed to rebuilding Terra.

Each relaunching protocol has executed their own strategic redistribution plans in an effort to best support their community. Valkyrie Protocol team has conducted the following plan and see it best fit (fairest) way going forward.

The Valkyrie team decided to consider both a price-weighted average of UST vs $VKRC, and Terra’s Revival Strategy for LUNA as indicated in TFL’s proposal and approved by the community (here) to reward the holders of $VKR.

Valkyrie’s Weighted Average Price vs. UST at Snapshot

TFL’s LUNA Distribution Plan at Snapshot

The two methods will have equal weightings on the overall weighted ratio and calculated as below. By combining TFL’s reference LUNA weight and considering UST price fluctuations in the VKRC price, we believe that the below is the fairest way to move forward by prioritizing those who have been with Valkyrie the longest, through the toughest times.

Combined Weighted Average Ratio

This means that at genesis Pre-attack holders will be receiving 88% of the distribution supply vs. the post-attack holders will be receiving the remaining 12%.

2. Distribution Vesting Schedule:

  • For pre-attack holdings: 20% genesis distribution followed by 80% — 13 months linear vesting with a 1 month cliff

(ie, you will get the totality of your tokens in 13months = 20% at TGE, 80% starting to vest for 12 months after a 1month period)

  • For post-attack holdings: 20% genesis distribution followed by 80% — 13months linear vesting with a 1 month cliff

(ie, you will get the totality of your tokens in 13months = 20% at TGE, 80% starting to vest for 12 months after a 1month period)

3. How to receive the new $VKR tokens

A new tab will appear on the Valkyrie Webapp main page.

Users will have to connect their Terra Wallet, and then click “Claim” to initiate their claims. Much like a campaign participation, users will be able to check how much is available for claims and the residue vested amount and time. A step-by-step will be provided before launch.

📌 IMPORTANT NOTICE📌

Any tokens not claim initiated within 30 days will not be claimable thereafter.

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