The Soluna Protocol Token will be live on March 11, 2022 between 17:00–17:59 UTC, kick starting decentralized governance and our liquidity mining program. The Soluna Governance Token (SLNA) will be used to make decisions about the future of the protocol. The only way to obtain SLNA tokens is by farming; there will be no ICO for SLNA tokens.
Token Distribution and Supply
- 30% Initial Contributors and Investors (1-year lock, 3-year release)
- 25% SLNA DAO Treasury
- 45% Mining Reserve & Airdrops
The fully diluted supply will be 1,000,000,000 SLNA tokens. There will never be more than 1 billion SLNA tokens.
SLNA is an SPL token on Solana, with the token address SLNAAQ8VT6DRDc3W9UPDjFyRt7u4mzh8Z4WYMDjJc35
Yield Farming
For those who have staked solUST, there will be an opportunity to move staked solUST into a newly deployed Quarry before SLNA starts accruing. On March 11, 2022 between 17:00–17:59 UTC, funds deposited in this Quarry will automatically start earning SLNA yield. In the future, yield will also be distributed to Saber pairs containing solUST. During the first 10 days of SLNA rewards, 2% of the total supply (=0.2%/day) will be distributed to Soluna depositors. During the following 45 days, 4.5% of the total supply (=0.1%/day) will be distributed, and at the end of this boost period, the emission rate of SLNA will drop.
Community Governance
Soluna DAO is looking to be integrated with a governance platform such as Tribeca, where SLNA token holders will be able to lock their token for a period of time and participate in governance by voting on proposals.
Retroactive Airdrop
3,657,550 SLNA tokens (0.37% of total supply) will be distributed to holders of LUNA (Wormhole), UST (Wormhole), solUST, staked solUST, and SBR based on a snapshot taken on March 8th, 23:00 UTC. There are 8,702 eligible addresses for this airdrop, with claimable amounts depending on which tokens were held.
Each Solana address that contains over 10 solUST, 10 staked solUST, 20 UST (Wormhole), 0.2 LUNA (Wormhole), or 1000 SBR are eligible.
Users will be able to claim SLNA airdropped slightly after farming has begun. There is no expiry date for claiming.
Join the Community!
Risks and disclaimers
Solana is a relatively new blockchain (the mainnet is technically still in “beta”) and most applications on Solana are new. Soluna is also a new protocol, and the smart contracts are not fully audited, which may come with unknown risks. Soluna is a decentralized platform and is provided “as is” without warranty of any kind. There is always risk associated with depositing any funds in smart contracts, including loss of part or all of deposited capital. Soluna claims no affiliation with the underlying protocols it aggregates. Please do your own due diligence and do not deposit more than you can afford to lose.
Crypto assets and yields are highly volatile. Past performance is not a guarantee of future performance.
SLNA tokens are a means by which users may govern the protocol. Soluna DAO does not recommend purchasing SLNA for speculative investment purposes. SLNA tokens may lose value or have no value and may have no market. Note that if applicable law does not allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only to the maximum extent permitted by applicable law.
