Temporary airdrop2 wallet allocation

Proposal Discussion
1

Background:
We have 9M TINY sitting idle in airdrop2.tinyman.algo account. Those are meant for another airdrop, but I think we all can agree that we don’t want to see another airdrop. So while we discuss how to distribute those funds or what to do with them, can we deposit them 50/50 into Folks Finance and DorkFi. This will generate us some yield while it supports Algorand ecosystem liquidity. Also deeper liquidity on lending platforms offer arbitrage and yield strategies which increases TINY token usage. After all, this is not away from later usage. it is just temporary park until we agree what to do with those funds.

Proposal:
Deposit 4.5M TINY into Folks Finance and 4.5M TINY into DorkFi from airdrop2.tinyman.algo account.

Temp check:

  • Yes
  • No
0 voters
1 Like
2

Rather it go to Govs or the NFT holders, no reason to park it somewhere just to take it out. just my take on that.

2 Likes
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Hey ROAM. Thank you for this idea. While I agree partly on this, we could enhance this further by starting a “governor controlled fund” where the aim is to have a stable source of income for the protocol aside from fees generated.

1 Like
4

The idea is to not have it contribute to yet more sell pressure, and the issue imo with it going to governance is tinypower is HEAVILY concentrated. The top 10 govs would receive 41.77% of the allocation – and I’m one of those 10 govs, I’d receive a small chunk of that myself.

Do we actually need or want to purposely drive up more concentration via an airdrop or adding onto the rewards pool at this time?

We also don’t have to just take it out. The rewards have been sitting idle for quite some time now, and assumingly would continue to sit for the foreseeable future. We might not decide on somthing for 6 months. Or a year. Who knows.

The idea is just to make it more productive for the token, the platform, and the community rather than just letting it continue to sit collecting dust in a wallet.

I’d personally just like to see it contribute more to ecosystem support encouraging lending and borrowing in partner platforms, but any of you who’ve seem me around knows by now that’s kinda a big thing for me anyway. :sweat_smile:

Another thing to consider is we could draw down the amount as interest grows, and push the earned tiny into supportive pairings like tiny/usdc. (Ok this might be because I’m just a big advocate of increasing liquidity here as well :grin:). We can sort out the pros and cons of that in later vote discussions.

Also @dreamfire we can always do that as well. But given the lift it takes to move an idea from inception to actual implementation, this is kinda a low-hanging fruit option. Easy to implement, doesn’t have any burden placed on the platform or team, doesn’t contribute to more tokens flooding to users in the terms of rewards, etc.

Meanwhile it (hopefully) will lead to more people borrowing Tiny by injecting liquidity into markets, offers a small yeild rather than the 0% earned in the airdrop wallet, and in the case of Folks at least earns Tiny a share of future Folks airdrop.

(Those could in turn go into folks/tiny or folks/usdc pairings on the platform later and farmed as govs vote on rewards distribution, the farmed tiny could then be used as additional yeild, burned, deposited in LPs like tiny/usdc, whatever), we’ll get to that should it come to it, first we’d need this vote to pass here, as well as on chain – both pretty high bars to reach.

The best thing imo is start doing simple, easy, and useful things then amend as needed going forward.

1 Like
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Yea we could and we should have an alternative income source for the protocol aside from the fees. Maybe lending stables in folks will do.

1 Like
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Hi,

Unfortunately reality might be, it will take several months before we can agree on anything. and this kind of proves my point. we can’t even agree on simplest proposals that are meant to be super simple and temporary before we can agree on more complicated ones.

2 Likes
7

This is not in conflict with possible “governor controlled fund”. if we want to establish such a fund, these assets can be moved into it. Either thru rekeying or simple pull funds out, move to another account and deposit again.

Regards,
ROAM

2 Likes
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Idk for the most part we haven’t had a lot of big pushes for votes until recently, and the two we have that gained pretty decent traction: an investment fund for future endevors – while a very slow process to whip votes-- that was more to inactiveness here than a lack of interest in the proposal itself from the looks of the vote outcome.

Likewise the idea to include LP voting rights (somthing that struggled 2-3 times in various proposals previously died before getting enough support) was moving along at a much quicker pace initially. And for the most part that proposal was just modifying and combining several others into one package that seemed easy enough to agree on to reach a majority yes for.

Had that pressed on and we whipped up at least 50 votes I think that would have come to a majority yes. (Although who’s to say about the on-chain vote, but the proposal was palpable and an easy enough starter that I think it would have reached the requirements for passing via a on-chain vote as well).

Agreement isn’t as much as an issue as getting sustained momentum to whip up the necessary eyes on the proposal to get the bare minimum of votes necessary to pass in the first place. That’s the rub.

@Bigred the idea being to, untill we decide to do x,y,z with said funds, let’s at the very least agree to have them contributing to things (somthing that I hope would at the very least be a pretty non-issue for most Tinygovs) in the meantime and earning for us, and hopefully encouraging more borrowing of Tiny.

For others that might not be on our discord I’ma add in my reply to @dreamfire about potentially burning them:

I do think burning them would be a temporary pump, almost certainly countered by VC unlocks. Pera shows some 7.7M tiny being burned right now, and tinyman docs show Investors held some 30.65% of the initial allocation at the start, and while they’ve dumped, we still have a significant amount left to go. 0.77% of the supply burned currently, and many more left to be unlocked.

I mean even if we burned it all it would only double the total burned amount since the burnings started… and compared to continued unlocks putting more in circulation…

For another comparison, if we burned all 7.7M right now, in less than two months that much would be released into circulation via gov rewards.

It’s a lot, but compared to the supply unlocks it’s just drops of rain into the ocean.

1 Like