[IEP #2] Community Distribution Phase II

Formal IEPs
1

Proposal details

In April 2023, the community received a total of 400,000 INCR tokens in Community Distribution Phase I. With the Increment protocol now live on zkSync Era, it is time to propose a second community distribution, this time distributing 500,000 INCR tokens to further empower the Increment community.

Token Transferability

Note that the ERC-20 token contract is currently paused, which means that the token will be non transferable. To enable transferability of governance power, there will need to be a separate onchain proposal and vote.

Goal of Distribution

  • Decentralization: INCR governance would benefit most if the token is widely distributed. Token holders’ can participate in building and contributing to the protocol.
  • Utilization: More active users should receive more tokens than less active ones. Recipients should get a “meaningful” amount, i.e. users should care about it and tx fees for claiming shouldn’t make it economically unwise to claim INCR tokens allocated to them.

Distribution Criteria

  • Genesis Orb NFT Holders receive 80% of total distribution: This event started on March 18th and will end on April 29, 2024. The top 500 ranked users at the end of the event will receive corresponding amounts of INCR, see spreadsheet. If there are less than 500 ranked users, then the remaining amount will be redistributed evenly to all other ranked users.

  • Top 300 veCRV Holders receive 19% of total distribution: To express gratitude to the Curve community for their technological innovations in the Cryptoswap pool, which serves as the underlying trading engine for markets on the Increment protocol, we’ve compiled a list featuring the top 300 veCRV holders (excluding any known duplicates or project smart contract accounts). This list is based on a snapshot taken on March 26th at 2pm UTC.

  • Twitter Thread Contest Winners receive 0.235% of total distribution

  • Emoji and Stickers Contest Winners receive 0.684% of total distribution

A detailed distribution method and criteria can be found in this spreadsheet here.

8 Likes
2

It sounds good - is there a plan to put any additional % into a new contest, like a Galxe campaign or similar, to prompt more people to onboard and take notice (or to distribute a few Orbs through that sort of easy-access onboarding mechanism)?

3

Sounds good to me, enough reasons to distribute the second airdrop between early adpoters of mainnet given we have another huge wave 3 to come.

1 Like
4

Perhaps we could have smaller campaigns on the side but still tie it into the Genesis Orb event as we only have 1 more month before the distribution - currently there are conversations with the Zyfi team to provide gas fee subsidies for Increment users: https://www.zyfi.org/

Let me know if you think of any interesting ideas!

5

Sounds good this encourages community participation

6

sounds good to me :slight_smile: