Embiggen: The End of an Airdrop
Back in June we announced OpenRelay’s Embiggen Airdrop. Aside from being a way to distribute a fun token, the Embiggen Airdrop helped us develop OpenRelay into a scalable platform. In the process of preparing for the Embiggen Airdrop, we:
- Created Massive — A tool to help us generate orders at scale.
- Created NotCoin — A mock token that enabled us to create 0x orders that expected nothing in treturn.
- Created Fling — A dApp for sending ETH and ERC20 tokens to many addresses in once, in preparation for the airdrop.
- Streamlined our Ingest process, allowing us to ingest 27 million 0x orders in just a few days through our normal ingest process.
- Streamlined our Pruning process, allowing us to prune an orderbook of 27 million 0x orders without our RPC servers breaking a sweat.
Preparing for the Embiggen Airdrop helped us create a lot of value for OpenRelay and the larger community. But when we started the Airdrop, all 27 million 0x orders were created to expire in the last moments of the year. On January 1st at 12:00 AM CST, the Embiggen Airdrop will come to a close. The 0x orders will be expired, and unable to be filled.
The next question becomes: What do we do with the leftover MBGN now that the airdrop is over? We started with 1 billion MBGN. Between the Airdrop, our affiliate program, and our FORT contributor program, we’ve distributed over 40,000 MBGN. But our original supply has grown faster than we’ve been able to distribute it, so we have the original 1 billion MBGN plus an additional 82 million MBGN that has accrued in interest.
When we created MBGN, we didn’t include any mechanism for destroying tokens. So while we’d like to reduce the supply down to what’s in circulation, there’s no way to do that. Instead, we’re going to lock most of the remaining supply into a contract where it will stay, removed from circulation in perpetuity. OpenRelay will keep a fraction of what remains in circulation to give away in the future.
You still have until the end of the year to claim your Embiggen at get.embiggen.me. Claim it now before the airdrop is gone!
Originally published at https://blog.openrelay.xyz on December 29, 2018.
