[SIP-7] Further Mint Incentive Distribution

Author Contributors

Summary This proposal will further discuss mint incentive distributions.

Discussion A particular set of difficulties lie in addresses 71-760 regarding distribution of mint incentives. Each of those addresses have been allocated 6.90 USDC on Polygon. However, unless those addresses have a degree of activity on Polygon already, bridging funds there or back will exceed the entire incentive amount, which means that the majority of addresses will have funds left hanging, which has no productive value.

Thanks to the work of @d_, we've been able to efficiently recalculate distribution, which will now allocate $11.78 to 404 holders. https://docs.google.com/spreadsheets/d/1p61LOWZfPiyT1fP_Hx_TOxgNveB1utiRe3YaUvCRJ5Q/edit?usp=sharing https://drive.google.com/file/d/1hSrbQzNfAbhoIiGNMMmx9FPLUWT0A9qo/view

However, the essential problem still remains. There is no substantial difference between a floating 6 and 11 on a sidechain, if bridging fees exceed the cost of principal. Therefore, we submit a few options for alternative action.

Option 1 Distribute incentives as is, $11.78 to 404 holders.

Option 2 Use the entire amount ($4,761) to sweep the floor of the Sophon collection. This will result in a substantial movement in fp, approximately 3-4x at current prices. All 690 original addresses, inclusive of the 404, shall receive 6.9K $ISK in the same manner as 760+ minters in the first distribution.

Option 3 Redistribute $4,761 to 69 minters from the 71-760 minter range, which will result in each receiving $69. Criteria for determining these 69 will be open for SophonDAO holder discussion, such as FCFS, lottery, activity, etc. All 71-760 minters that do not receive $69 will receive 6.9K $ISK, the same as 760+ minters.

Option 4 Transfer $4,761 to the SophonDAO treasury, which is currently under Quantum Forest management, with the directive that this entire amount be allocated towards a high-risk, high-reward play, targeting 2-5x return in a specific time frame. After the play is complete, then the amount will be be distributed to 71-760 minters. All 71-760 minters will also receive 6.9K $ISK, the same as 760+ minters.

Option 5 Transfer $4,761 to the SophonDAO treasury, for the purposes of rewarding all Sophon holders or for grant programs. See [Temperature Check] Recognition and [Temperature Check] Grants on Discord. All 71-760 minters will receive 6.9K $ISK, the same as 760+ minters.

Option 6 @d_ has proposed that $69 be distributed to the 69 largest holders of 71-760 minters. All remaining 71-760 minters will receive 6.9K $ISK, the same as 760+ minters.

Voting This vote will be a multiple-choice vote. You may select an option or choose to abstain from the vote.