GYSR
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GYSR

GYSR: Building (and using) Fair Distribution

GYSR was created with transparency and a community-first mentality as central tenets. How $GYSR will be distributed is a key part of that mindset and we’re excited to share our plans with all of you!

We are creating 10,000,000 $GYSR tokens, and we need a way to get them out into the world. Fortunately, GYSR is a fair, transparent, and configurable distribution tool … how lucky are we?!

100% of the distribution and vesting of $GYSR will be done through Geysers. No tokens saved for an ICO or IEO, no airdrops, and definitely no pre-launch, early investor round that leaves the larger community at a disadvantage. We’re simply using a few Geysers with different configurations to make sure that the token is distributed transparently and fairly.

$GYSR token distribution is split into 4 parts:

1% to the community through five kickoff Geysers

We need to get some $GYSR out into the community quickly so that you can start using it to get larger rewards and to create a market for it on different exchanges. We’re launching 5 Geysers, each of which will distribute 0.20% of the total supply of $GYSR over 7 days.

The staking tokens will be:

  1. $WETH
  2. $DAI
  3. $USDC
  4. $WBTC
  5. $UNI
The 5 coins anyone can stake to earn Geyser from the kickoff Geysers. These are, in practice, one week faucets for $GYSR.

These Geysers will distribute their respective 0.20% over 7 days to seed the community with the $GYSR necessary to create liquidity and multiply rewards.

88% to the community through the $GYSR Geyser

This project is built to support all DeFi distribution and by definition, that means it’s decentralized. The tokens go to users and supporters, no strings attached. We’ll call these tokens “the community pool.” To earn these, users simply have to provide liquidity in the Uniswap $GYSR/$WETH pool and stake those Uniswap V2 tokens in the community Geyser. We’re using an LP token from Uniswap as the main staking token to make sure that $GYSR has a healthy market for users to trade and get utility out of it.

This is not a pump and dump scheme. To ensure that, the community pool will be rewarded over a 3 part distribution schedule.

  1. 1/3 of the community pool will be released over the first 90 days after launch
  2. 1/3 of the community pool will be released over the first year after launch
  3. 1/3 of the community pool will be released over the four years after launch

The schedule allows for enough immediate $GYSR availability so that other projects can start using the system and benefiting from $GYSR while still incentivizing community members’ long term commitment to the project.

10% to the team

Because we feel it is important that any value we derive from this project remains tied to the overall health of $GYSR, we’re holding ourselves to the same 4-year distribution schedule as the community pool.

We’ve minted a unique token for the $GYSR team called $GYSR-team that has a total supply of 1. We, as a team, are staking that single token in a Geyser we set up with 10% of the total $GYSR supply. Our vesting schedule follows the same 90 day, 1-year, and 4-year distribution schedule of the $GYSR Geyser. That means that the vast majority of our tokens won’t be available to us if there’s an early spike in $GYSR’s price.

1% to early advisors

Comunity support means everything to us, and we wouldn’t be able to launch this project without the support of a select few individuals. We’ve created a staking token called $GYSR-adv that we can mint and give to individuals that have helped the $GYSR project during its development and as it grows. $GYSR-adv will have one purpose: to give these individuals unique access to a Geyser with 1% of the total $GYSR supply funded in it, vesting over 1 year.

We’re doing this as a special token (ha, get it?) of our gratitude. Receiving one of these is a privilege that we look forward to sharing with incredible members of the GYSR community.

And there you have it. A 100% transparent distribution schedule, performed completely through the technology we’ve created. Our favorite part? We’ll be deploying these and running them through the GYSR web interface. This is the exact same thing any team and any project could do if they’d like. No code, powerful configuration, and 100% on-chain.

We can’t wait to have you all take part in this distribution. We’ll be updating this post with all of the addresses of the Geysers and their respective funding transactions when we go live. In addition, keep an eye out for more reading in the next few days where we’ll illustrate exactly how to stake in and earn rewards from Geysers.

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GYSR is an open platform for on-chain incentives [Telegram: https://t.me/gysr_io] [Discord: https://discord.gg/qjWa7JB]

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Alex Koren

Alex Koren

2014 Fellow at @ThielFellowship.

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