Allocate $WALLET for Extension Launch Incentives

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Author: Ambire Wallet Date: Sep 2, 2024 Announcement blog post

Proposal overview

This proposal asks the community to decide how many $WALLET tokens should be allocated for the upcoming extension launch incentives. The options include allocating the remaining 145 million $WALLET tokens from the initial user incentives allocation or adding 50 million more from the WalletDAO treasury’s “Community reserve and DAO” allocation, bringing the total to 195 million $WALLET tokens.

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Motivation

Our goal with this proposal is to supercharge the Ambire extension launch, which is set to redefine what a Web3 wallet can do. The extension is the first of its kind to offer hybrid account abstraction, seamlessly supporting both Basic Accounts (EOAs) and Smart Accounts on EVM networks.

The introduction of extension incentives is helping to:

• Attract Attention: Position the extension as our flagship product and the go-to wallet for degens (crypto natives).
• Preserve Rewards: Ensure a significant, community-centric extension launch campaign.
• Boost Engagement: Drive active participation and excitement around the extension launch.
• Encourage Migration: Entice users from the Ethereum ecosystem to adopt the Ambire extension.

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Voting Requirements

All xWALLET token holders are eligible to participate before the September 2, 2024, snapshot at 14:00 UTC. Users who stake tokens after the snapshot will not be eligible.

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FAQ

What will the incentives be used for?

Users will be rewarded continuously (similar to Ambire v1’s continuous airdrop) for actively using the extension. The more active users interact daily with dApps and sign transactions, the more funds they trust Ambire with and the more rewards they will receive.

When will users of the extension receive the incentives?

Rewards will be distributed continuously after the public launch, starting when you create or import a wallet that meets certain criteria, which will be announced soon.

When is the extension launch planned?

The public launch is planned for Q4 of 2024.

Will web and mobile wallet users be earning incentives?

As per the last governance vote, the early incentives for web and mobile users were already stopped. Those users can only benefit from $WALLET staking rewards, which are not subject to this vote.

Will this vote affect the $WALLET staking rewards?

The $WALLET staking rewards are not affected by the extension launch rewards vote.

I am currently using the extension. Does this make me eligible for launch incentives?

Yes, if you continue using the extension after the public launch.

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Useful Links

Ambire Governance Votes Website GitHub Twitter Discord Telegram Forum