Cross Chain Proposal #5.1 Airdrop

Should we airdrop the Arbitrum token to Polygon token holders?

To award holding VERT and prevent liquidity sniping, we can drop a % of initial supply to the VERT token holders after presale and before farm starts. We can use our voting power as an approximation. I believe we should discourage participation by new freeloaders and token dumping by doing two votes - one in the past, one in the future.

How it will work:

1. Everyone who wants an airdrop casts their vote in a proposal with a snapshot block in the past to prevent freeloaders.
2. Everyone from the first snapshot casts their vote again in another proposal, this time with a snapshot block closer to the launch date to prevent dumping.
3. A percentage of initial supply gets allocated to the voters based on a function of the power they held at both snapshots, provided this amount is greater than $25.
4. Voting power will be tallied and announced after presale and before farming begins.
5. The airdrop will occur 2 days before farm launches to give some room for sell pressure to occur before farm starts.

##The Math

The math will work like this..

Allocation Points: ((Pwr_1^0.1)/2+(Pwr_2^0.1)/2)^10

...where Pwr_1 is the voting power at snapshot in step 1, and Pwr_2 at snapshot in step 2. Your airdrop amount is calculated as follows:

Your Airdrop Amount: ((Your Allocation Points)/(Total Allocation Points))*(Total Airdrop Amount)

...So long as it is more than $25 worth

This favors people who held equivalent power at both snapshots and is almost is an average otherwise unless you held significantly less at one snapshot, in which case it can be far less than average.

The voting power and anti-whale function will be converted to USD so it affects less investors negatively but still discourages whales from freeloading. (Using USD as a power base is something we will be doing anyway going forward, since we need a way to determine voting power with two coins of differing values.)

The Quantity

We will be airdropping approximately 10% of the initial supply, which is around 1% of the max supply (or about 10,000 tokens). These tokens come from the presale, claimed using dev wallet funds to guarantee they have value. 1% of max supply is a pretty typical number for airdrops, and given the effect it may have on liquidity providers if airdroppers need to cash out, it is best to keep impact low at around 10%.

How to Vote

If you like the above method, vote yes. If you have a better idea COMMENT FIRST your better idea and vote no.

Vote wisely ;)