AirDrip Initiative

Under Construction

AirDrip Initiative Overview

The AirDrip Initiative is a groundbreaking part of Premia's cosmic strategy, designed to reward the loyal navigators of the Premia universe. Initially, 30mm Premia Tokens were earmarked for Liquidity Mining over a decade, but the new initiative has recharted the course, setting aside 16mm for Liquidity Mining and 10mm for the AirDrip Initiative. The first allocation of 2mm Tokens will be pro-rata distributed to all staking users based on their influence across all chains. A snapshot will record all influence on a specific date, and a new smart contract will lock these tokens for one year, allocated based on the Influence amount. Any gaming of the system will be penalized, ensuring a fair distribution.

The AirDrip Initiative is not just a one-time event but a continuous journey. One year after the Snapshot Date, the Tokens will be dripped daily over the next year, fully vesting by Snapshot Date + 2 years. The remaining 8mm Tokens will be part of a long-term proposal, with the Parliament reconvening in 2024 to decide the allocation. It's a celestial commitment to the community, a way to fuel the exploration, and a testament to Premia's dedication to its users as they traverse the infinite possibilities of decentralized finance.

AirDrip Background and Motivation

• Initially, 30mm Premia Tokens were reserved for Liquidity Mining over 10 years. The new initiative proposes to set aside 16mm for Liquidity Mining and 10mm for the AirDrip Initiative (4mm have already been allocated)

  • 16mm Liquidity Mining to be split into two buckets of 8mm, one bucket to be allocated over four years (2mm per year). The other bucket will be used for future ecosystem products outside the Options Exchange.

• The AirDrip Initiative of 10mm Tokens will be split over multiple years. The first allocation proposed is to utilize 2mm Tokens and allocate pro-rata to all staking users based on their influence across all chains.

• A snapshot will be communicated (date to be announced shortly ~ETA August 1st), and all influence will be recorded on that date. Over the coming weeks, a new smart contract will be deployed, locking the 2mm Tokens for one year, allocated to individuals based on their Influence amount.

• If, for any reason, a wallet withdraws before its regular staking lockup period and concedes to pay the early withdrawal penalty, the wallet will forfeit any AirDrip allocation, and that will be redistributed to the remaining staked users. If the wallet's natural lockup period expires before Snapshot Date + 1 year, then the allocation shall remain; however, it won't begin to vest until the Snapshot +1 year date as defined below.

  • This is to penalize any user trying to game the influence metric during the snapshot date.

• One year following the Snapshot Date, the Tokens will be dripped out to all eligible wallets monthly (linearly) over the next year. The allocation of 2mm Tokens will then be fully vested and available for claim by Snapshot Date + 2 years.

• For the remaining 8mm Tokens, the Parliament will reconvene in January of 2024 with a long-term proposal for allocation.

Airdrip 1 Initial Snapshot As the Airdrip smart contracts are being developed, periodic snapshots will be taken to remove wallets that have withdrawn early and paid the withdrawal penalty fee. At the point, the Airdrip tokens are allocated to the smart contract, and eligible users are added, the smart contract will handle the removal of allocation for any wallet that pays a withdrawal penalty fee and reallocate to the remaining wallets eligible.