SLURP-10a | Retroactive SDL and OP Airdrops for Priority Pool Depositors and reSDL Minters

Abstract

Presuming the succesful acceptance and ratification of SLURP-9, SLURP-11 for the deployment of the Priority Pool, and a forthcoming Optimism Growth Experiment Grant conferring OP tokens, we propose retroactive SDL airdrops for reSDL lockers and Priority Pool stakers on all networks, and retroactive OP airdrops for reSDL lockers and Priority Pool stakers on Optimism.

Rationale

The launch of Chainlink Staking v0.2, the stake.link Priority Pool, and the launch of reSDL and stake.link Tokenomics 2.0 presents a rare moment of fortuitous confluence. By accruing a massive stake of LINK, and thereby generating a larger supply of stLINK, it will be much easier to broaden the reach of the stake.link protocol and seek additional DeFi interactions.

The future of interacting with Ethereum is Layer 2 based, and gas costs on Ethereum Mainnet will likely only grow as time goes on. The deployment of stake.link to Optimism (as proposed by SLURP-9) and the incentivization of users to migrate their interactions with stake.link as a protocol to Optimism (and in the future other Layer 2s) enables increased interaction with the protocol, and opens the protocol up to Layer 2 native users.

Specification

Note

There are multiple dependencies for the entirety of this SLURP to be enacted, including additional SLURPs, grant proposals, and technical deployments. At this time, there are technical blockers around the bridging of LINK to Optimism by leveraging CCIP.

The following sequence is proposed:

1. Dependent upon SLURP-11, and after inaugural launch phase of Chainlink Staking v0.2: Issue retroactive SDL airdrop to eligible Priority Pool LINK stakers and reSDL Lock and Minters
2. Dependent upon SLURP-9, SLURP-11, deployment of stake.link to Optimism, Optimism Growth Experiment Grant, and after inaugural launch phase of Chainlink Staking v0.2: issue retroactive OP airdrop to eligible Priority Pool LINK stakers and reSDL Lock and Minters on Optimism.

Priority Pool LINK Staking and reSDL Locking and Minting Incentives

We propose a substantial airdrop of both SDL tokens and OP tokens to users staking their LINK in the Priority Pool and locking their SDL to mint their reSDL NFTs. The precise eligibility calculations for the retroactive SDL and OP airdrops will be shared at a later date, but the general structure will reward individuals who:

• Stake LINK via the Priority Pool (more LINK, more airdrop)
• Lock SDL into reSDL NFTs (more SDL and longer lock, more airdrop)

It is proposed that up to 2,000,000 SDL be retroactively awarded, with up to 1,000,000 SDL directed to Priority Pool LINK stakers based on their staked amount, 200,000 SDL to be distributed amongst the top 5 stakers and randomly to other Priority Pool stakers using Chainlink VRF, and 800,000 SDL directed to reSDL Lock and Minters, irrespective of network.

It is proposed that 75,000 OP be retroactively awarded to stake.link users on Optimism, with 50,000 OP directed to Priority Pool LINK stakers and 25,000 OP directed to reSDL Lock and Minters.

Note: calculations for the airdrop will be based on LINK that is actually ultimately staked - not simply queued in the Priority Pool.

Priority Pool SDL and OP Incentives Specification

Up to 1,000,000 SDL to be distributed to Priority Pool stakers based on their staked LINK amount, irrespective of network. 0.2 SDL will be distributed for every LINK staked, up to 5,000,000 LINK. Precise calculations on how per-address airdrop amounts are calculated will be shared after eligibility closes in an effort to prevent manipulation.

For the top Priority Pool stakers:

1. 40,000 SDL
2. 30,000 SDL
3. 20,000 SDL
4. 15,000 SDL
5. 15,000 SDL

To be randomly distributed to Priority Pool stakers using Chainlink VRF: 2,500 each to 32 individuals who have staked in excess of 10 LINK.

Presuming receipt of 75,000 OP tokens from a forthcoming Optimism Growth Experiment Grant, 50,000 OP tokens will be distributed to users staking their LINK through the Priority Pool on Optimism. Should the amount differ, a similar ratio will be preserved.

reSDL Lock and Minters SDL Incentives

800,000 SDL will be distributed to reSDL Lock and Minters based on the amount of reSDL minted (amount of initial SDL balance and lock duration), irrespective of network.

Presuming receipt of 75,000 OP tokens from a forthcoming Optimism Growth Experiment Grant, 25,000 OP tokens will be distributed to users locking SDL and minting reSDL on Optimism. Users that bridge their reSDL NFTs to Optimism will be considered as if they had minted their reSDL NFTs on Optimism.

Copyright

Copyright and related rights waived via CC0.