[LIP #5] Implementing a Vesting Schedule for Launchpad Token Airdrops
The Lattice community has put a proposal up for vote on a vesting schedule for launchpad token airdrops to $veLTX token holders.
Airdrops play an important role for the Lattice Gateway ecosystem. They offer projects building on the Hypergraph an opportunity to gain a wide distribution of wallet holders for their token and thousands of early supporters of their project.
Vesting 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.
Vesting the airdrops controls liquidity emissions for the airdropped tokens, balancing the needs of $veLTX token holders and Lattice launchpad projects.
If $veLTX holders agree to implement a vesting schedule for the airdrops, then airdrops can commence in March 2023 incorporating the agreed upon vesting terms.
Important Notes:
This proposal is specifically focused on the Lattice Launchpad projects that have previously utilized the launchpad, have already had their TGE, and have already dedicated a percentage of their token supply for the launchpad airdrop. Therefore, the only tokens relevant for this specific proposal are Alkimi ($ADS) and GeoJam ($JAM).
Up to 1% of a launchpad token’s total supply can be airdropped to $veLTX holders.
Please see our discussion thread with full details and background information on the proposal, including airdrop calculation examples.
Voting Options
There are three voting options to initiate the $ADS and $JAM token airdrops and vesting schedule:
Choice One:
Both tokens ($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, and the tokens will continually vest in equal installments every 15 seconds (approximately) over the 6-month vesting cycle.
The vested tokens will be claimable whenever and however often you’d like over the duration of the vesting cycle.
Choice Two:
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.
Both tokens will have a full vesting cycle of 6 months from the date the airdrop is received, and the tokens will continually vest in equal installments every 15 seconds (approximately) over the 6-month vesting cycle.
The vested tokens will be claimable whenever and however often you’d like over the duration of the vesting cycle.
Choice Three:
Reject the Proposal.
Voting Process
veLTX holders can vote on this proposal through the Lattice governance platform.
The vote begins Tuesday, February 28, 2023, at 9:00 a.m. PT and will remain open for seven (7) days, closing on Tuesday, March 7, 2023 at 9:00 am PT. A quorum of 33% of all veLTX tokens is required for a valid vote with a simple majority to pass.
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