Unclaimed Airdrop Tokens: Burn or Retain

Governance Proposals
22

This was my thought as well. I was shocked to see that I was the first to vote to retain.

3 Likes
23

you misunderstand or misread why some of us are in favour of the burn.
Burning few mil tokens with such a big supply shouldn’t affect the price at all…
My vote for burn is simply a vote to not repurpose the tokens that remain unclaimed, as everyone who checked tokenomics and vesting schedule expects these tokens to be either distributed to supporters/eligible users or stuck in “dead” wallets or remain unclaimed. And not used in some other way.

so burn or lock in a vault/deal wallet indefinitely same thing in my mind. Spendng them in some other manner - not cool. thats obviously my view

2 Likes
24

The hackers rekey my wallet and I make a lot of transaction on this wallet, but the wallet has been inactive for 1 year now. Is there any other way I can claim this my token? I can provide my phrase

1 Like
27

Read my proposal—it addresses this.

1 Like
28

Hi @Cryptoxafrica We regret to hear that your account was compromised. Unfortunately, there is nothing we can do on our side to distribute the airdrop in that case.

1 Like
29

what about they add it to the LP then Burn the LP

1 Like
30

I say add it to the LP then Burn the LP

1 Like
31

Retain the tokens, maybe redistribute periodically based on how long the lock period the user had chosen and increment this additional reward over time and a balloon reward at the final locked week. Here’s from Chat gpt:

---- Token Redistribution ----

Objective: To incentivize long-term holding by redistributing tokens periodically based on the lock period selected by the user. The redistribution model will feature incremental rewards over time, culminating in a substantial balloon reward during the final locked week.

Total Lock Period: 208 weeks (4 years)

1. Lock Period and Reward Structure

  • Initial Lock Period Selection: Users can select a lock period ranging from a minimum of 1 week to a maximum of 208 weeks.
  • Periodic Redistribution:
    • Frequency: Token rewards will be redistributed every 4 weeks (approximately monthly).
    • Reward Calculation: The reward percentage will be calculated based on the user’s selected lock period, with longer lock periods receiving higher rewards.
    • Incremental Rewards: For each 4-week period, the reward percentage will increase slightly. This increase will be more significant for users who selected longer lock periods.

2. Reward Incrementation

  • Base Increment Rate: For each 4-week period, the reward percentage will increase by a base rate, with this rate being proportional to the length of the lock period. The longer the lock period, the higher the base increment rate.
  • Formula:
    • Incremental Reward = Base Reward + (Weeks Locked / 208) * Increment Rate
    • The Increment Rate will increase every 52 weeks (1 year) to further incentivize long-term holding.

3. Balloon Reward

  • Final Week Reward: During the final locked week (week 208), users will receive a balloon reward. This reward is designed to significantly incentivize users to keep their tokens locked for the entire duration.
    • Balloon Reward Percentage: The Balloon Reward will be a multiple of the final periodic reward, ensuring a substantial payout.
    • Calculation Example: If a user locks tokens for 208 weeks, the Balloon Reward could be, for example, 5 times the reward they would receive during the 204-208 week period.

4. Redistribution Example

Let’s break down an example where a user locks tokens for the full 208 weeks:

  • Weeks 1-4: Base reward distributed.
  • Weeks 5-8: Base reward + small increment.
  • …
  • Weeks 205-208: Base reward + maximum increment.
  • Week 208: Balloon Reward (5x the Week 204-208 reward).

5. Considerations

  • Fair Distribution: The model ensures that users who commit to longer lock periods are fairly compensated with progressively increasing rewards, culminating in a significant final reward.
  • Flexibility: Users can choose their lock period based on their risk appetite and desired reward structure.
  • Transparency: The reward calculation methodology will be transparent and communicated clearly to all users.

This aims to create a fair and incentivizing environment for long-term token holders, encouraging them to maintain their stake while providing them with increasing rewards over time. The balloon reward at the end serves as a substantial motivation to remain committed for the entire duration.

Or…

Maybe create a Community Grants and Development Fund to attract developers to Tiny?

4 Likes
32

Hi Tinyman Community!

We would like to thank everyone for actively participating in the discussion around this proposal. We are happy to share that we have incorporated the community’s feedback into a new proposal which addresses your concerns about the initial distribution plan of $TINY token. With that new proposal we present you 2 options:

A) Burn the unclaimed tokens
B) Add the unclaimed tokens to governance rewards and distribute them to Tinyman governors over 4 years

Head over to the new proposal and start voting your preferred option Unclaimed Airdrop Tokens: Burn or add to Governance Rewards

Best, Tinyman Team

2 Likes