Lockdrop #52
MuffinsThaCat
started this conversation in
Brainstorming
Replies: 0 comments
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment
-
Testing the appetite in the community for subnets to do what has been elsewhere referred to as a "lockdrop".
"Lockdrop is a new method for distributing tokens. This method is an alternative to airdrops. Lockdrop distinguishes itself by distributing the initial tokens in exchange for the participant’s opportunity costs. In other words; the participant will “lock” a certain token (i.e. Ethereum or Bitcoin) to a smart contract (or something equivalent of one) that will hold the tokens for a predefined duration."
https://medium.com/astar-network/what-is-and-how-to-join-the-plasm-network-lockdrop-the-ultimate-guide-e3f4bdec83de
The opportunity cost is in not being able to use the token for the duration of the lock.
In this case that token would be AVAX.
This would be parcel to ACP13 and it would create a market for AVAX holders to lock their tokens to a subnet and be rewarded with the early token distribution of a new project. Builders would then no longer be required to front the AVAX to launch their subnet because other people would be doing it. The task would be on the builder(s) and their teams to convince AVAX holders to lock tokens to their subnet by making a good value proposition and providing the right incentives for the lockers. If enough projects wanted to do this it would make sense to create a marketplace to diversify the participants. Hopefully in a competitive market people would be making choices about which subnets they want to support(lock to) based on the amount of AVAX they have.
Beta Was this translation helpful? Give feedback.
All reactions