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0xB184…140B
[LIP #5] Vesting Schedule for Launchpad Token Airdrops
The goal of this proposal is to create an agreed upon vesting schedule to kick off the initial Lattice Launchpad token airdrops to veLTX holders in March of 2023. The reason for the implementation of a vesting schedule is to satisfy the needs of both parties involved: the Lattice Launchpad projects and the veLTX holders.
By implementing a vesting schedule, it allows us to provide veLTX holders their airdrops while also creating a controlled token liquidity emission for the token that’s being airdropped.
The expectation for this proposal is that if the veLTX holders agree to implement a vesting schedule for the receipt of their Lattice Launchpad token airdrops, then we can kick off the airdrop program in March 2023, incorporating the agreed upon vesting terms.
Should the community choose to move forward with this proposal, it will progress to a vote. The voting period will be open for 7 days.
This proposal is specifically focused on the Lattice Launchpad projects that have previously utilized the launchpad, have already had their TGE, and have already dedicated a percentage of their token supply for the launchpad airdrop. Therefore, the only tokens relevant for this specific proposal are Alkimi (ADS) and GeoJam (JAM).
Up to 1% of a launchpad token's total supply can be airdropped to veLTX holders - the exact number of ADS and JAM tokens to be airdropped will be published by the Lattice team shortly.
There are three voting choices to initiate the ADS and JAM token airdrops, along with a vesting schedule, to veLTX holders:
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Both tokens (ADS and JAM) are airdropped to veLTX holders simultaneously in March 2023. The tokens will have a full vesting cycle of 6 months from the date the airdrop is received, in which the vesting schedule is happening continuously and equally every ~15 seconds (every Ethereum block). So essentially your tokens are being vested on a continual basis in equal installments over the course of the 6 months. The vested tokens will be claimable whenever and however often you'd like to do so over the duration of the vesting cycle.
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One token is airdropped per month to veLTX holders beginning in March 2023. ADS will be airdropped in March 2023 and JAM will be airdropped in April 2023. The tokens will have a full vesting cycle of 6 months from the date the airdrop is received, in which the vesting schedule is happening continuously and equally every ~15 seconds (every Ethereum block). So essentially your tokens are being vested on a continual basis in equal installments over the course of the 6 months. The vested tokens will be claimable whenever and however often you'd like to do so over the duration of the vesting cycle.
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Reject the Proposal.
Example of the 6 Month Vesting Schedule Mechanism in Action: Assume that the token allotment for Alkimi Exchange (ADS) towards their veLTX airdrop is 2,500,000 ADS tokens (1% of their maximum token supply). A total of 2,500,000 ADS tokens are airdropped to veLTX holders on March 15, 2023. Every Ethereum snapshot thereafter, the tokens are vesting in an equal and ongoing fashion over the course of 6 months of vesting. 45 days after the date the airdrop is received, for example, you can claim your 45/182 share of your vested token.
Off-Chain Vote
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- Author
0xB184…140B
- IPFS#bafkreic
- Voting Systemsingle-choice
- Start DateFeb 28, 2023
- End DateMar 07, 2023
- Total Votes Cast13.26M veLTX
- Total Voters273
Timeline
- Feb 28, 2023Proposal created
- Feb 28, 2023Proposal vote started
- Mar 07, 2023Proposal vote ended
- Oct 26, 2023Proposal updated