Proposal for Simplified and Strategic AGC Airdrop System

Overview: I propose a transition from the current weighted average airdrop system, which effectively doubles the token count for participants, to a more straightforward and strategic AGC burn mechanism. This new system aims to maintain the stability of AGC (Argochain Governance Coin) while providing a rewarding experience to the holders over a prolonged period, mitigating immediate impacts on AGC's market price.

Current System for Reference: The current airdrop system in place can be reviewed in detail here: https://devolved-ai.gitbook.io/devolved-ais-agc-airdrop-for-argochain-launch/. This system employs a weighted average approach to distribute additional tokens to the holders, effectively doubling their holdings.

Proposed System: The new system introduces a strategic AGC burn process, coupled with a rewarding mechanism for the participants. Here’s how it works:

1. Strategic Burn Announcements: Devolved AI will periodically announce AGC burn events. These announcements will specify a timeframe (e.g., the next 24 hours) during which the AGC holders can opt to burn their tokens.

2. Rewarding Mechanism: Participants who burn their AGC as per the announcement will be eligible for rewards when Layer 1 is launched. Here's the structure of the reward:

   • Immediate Return: On the day Layer 1 goes live, the participant will receive an amount of AGC equivalent to what they burned, native on the Argochain blockchain.
   • Vested Rewards: In addition to the immediate return, the participant will receive an equal amount of AGC, vested and released linearly on a daily basis over a period of 24 months.

Example: If a holder burns 10,000 AGC during the specified window, they will receive 10,000 AGC back native on Argochain when Layer 1 is operational. Additionally, they will receive 10,000 AGC vested with a linear daily release over 24 months, totaling 20,000 AGC.

Objective: The primary goal of this proposal is to provide a stable and rewarding ecosystem for AGC holders. By spacing out the rewards over a period and introducing strategic burn events, we aim to:

• Encourage long-term holding and involvement in the ecosystem.
• Mitigate abrupt market fluctuations that can arise from massive, short-term token releases.
• Align the interests of the token holders with the long-term success and stability of the Argochain.

I invite the community to discuss, provide feedback, and vote on this proposal to ensure we align our tokenomics with the best interests of the Argochain ecosystem.