Introducing the WYND Airdrop

Published in

wynddao

5 min readJun 4, 2022

Check your tokens now, airdrop can be claimed June 6th

WYND is a new ReFi protocol to leverage DeFi tokenomics to regenerate the environment. You can read a lot more about our design and goals on our documentation site. This article will focus on our Airdrop for the WYND governance token, which will go live on June 6th, 2022.

I’m Ethan Frey, aka “Father of CosmWasm”, and I am a member of the WYND Foundation Advisory DAO. This is one of the most exciting and ambitious projects I have seen recently and I am proud to support it. All use of “we” in this article refers to the WYND Foundation itself.

Why WYND Token?

WYND is designed to be the governance token of the WYND DAO. In order to bootstrap a very diverse and engaged community, we are making a FairDrop to stakers on Juno, Osmosis, and Regen networks. We focus on rewarding small to medium token holders over large holders and give bonuses for engagement, not just passive accounts.

Once the token is distributed and the WYND DAO is operational, it will be tasked with building out the WYND ecosystem. The WYND Foundation will hold some tokens to provide grants and initial liquidity for WYND and guide the growth of the ecosystem, but the WYND DAO and the community around it will be fundamental in setting the direction and bringing attention to these projects.

How much do I get?

Okay, let’s cut to the chase. Go to airdrop.wynddao.com and connect Keplr to see how many tokens you can claim. Please check any account that has staked JUNO, OSMO or REGEN. Also, if you are operating a validator, check with the ledger or multisig you use for the valoper address. We provided nice bonuses to all validators on those 3 networks as well.

The first question that comes up is people comparing to their friends and being surprised they got the same when one “should” get more. You can read the full details on the calculations, but I will summarize here.

We tried to filter out “dust accounts” and “whales” by focusing on the 20th to 80th percentile of accounts. That is, we filter out anyone with less than say 0.1 tokens staked and cap it at around 50 tokens (these depend on each network, numbers are from Osmosis). Between these limits, we provide more WYND for every token staked. This means that if you have 200 staked and your friend 500, they will be treated the same. If you have 20 and your friend 60, they would have more.

Beyond that, we provide some bonus multipliers for active accounts (that sent several transactions, not just one stake and one withdraw) as well as having a high percentage of their tokens staked (so staking 50 out of 50 is rewarded more than staking 50 out of 500). The idea is to focus on engaged users that are committed to long-term growth of the protocol — exactly the type of people we want to form the seed of the WYND DAO.

Trying to determine “engaged and committed” from a few on-chain metrics is quite hard and I’m sure we made some mistakes, but it is a good attempt and should have a broad distribution. We aim to do a little better than 1 token per account (NETA) or the 1 token per staked token (JUNO) which both had issues with the initial distribution.

What next?

First, you gotta HODL. Yup, you can claim the WYND token, and it will show up in your account, but it will vest from Sep 1, 2022 to Sep 1, 2023. Until then you can just use it to stake in the DAO for voting rights. We know lots of people were hurt by the recent crash and quickly flipping all the new airdrops to cover part of their losses. We want to avoid this behavior and reward long-term commitment, so you gotta HODL for a while and help make WYND great before cashing out. Trust me, you’ll be thankful for this a year from now.

We are following the DAO DAO work, and will build off it. But rather than release fast, we want to design this for our needs. We are working on a custom variable period staking contract, so you can stake between 2 weeks and 2 years as works best for you. You get more votes the longer you stake, similar to the veCRV model. When this is completed, we will release the WYND DAO and enable staking with those vesting WYND tokens.

Much of the work around the DAO is building community, so expect a large focus on Discord and Forums once it is live, which we heartily invite you to join.

Between DAO launch and the beginning of vesting, the WYND Foundation will ensure there is solid liquidity and a stable price for the token, selling some of the WYND supply for a more established Cosmos coin and providing liquidity in an AMM. Target is 4-5% of the WYND supply in the AMM by Sep 1 to provide prices stability.

DAO What?

So far this is all work taken on by the WYND Foundation to provide a solid foundation for the WYND DAO. The Foundation will also build out environmental oracles, so smart contracts can use feeds such as forest cover, biodiversity, air pollution, or temperature changes as oracles in other protocols. But what does the DAO do?

The main goal that the WYND Foundation envisions for the DAO is to build out a number of ReFi protocols and “make this real”. We have partnerships with some developers and dev teams looking to support the mission, but the Foundation doesn’t have the capability to design the protocols and bring them to market. This is up to you as a DAO member.

The Foundation will offer grants, advice, and connections. It will guide the DAO as it grows and help remove obstacles along the way. But we firmly believe in new forms of organization, and the impossibility of a small group directing anything truly revolutionary. Join the WYND DAO and let us use our Collective Intelligence to create the future of ReFi (and the planet).

You can follow the Foundation roadmap here. We look forward to the DAO coming together with their own roadmap.