Airdrops and Bribes
A total of 200 million GEIST (20% of the total supply) is allocated to airdrops aiming to incentivize those who use and support the protocol. These tokens are released linearly over 1 year and will be used to target various communities and token holders. The AAVE, Lobser DAO and Ellipsis communities will receive an initial airdrop. Subsequent token release will be used to accumulate votes on the Curve Fantom gPool via vlCVX and veCRV bribes.
The continuous release means the protocol can continuously re-evaluate where resources can be best allocated to support the protocol. It is by no means aimed to become a recurring weekly airdrops to the communities mentioned above.
This forced gradual release mechanism is done to prevent sudden supply shocks or excessive sell pressure on the token. It also gives us freedom as a community to choose who we should target with our incentives.
Airdrop recipients receive their GEIST vested, in the same way as GEIST earned via protocol use. Receivers may choose to pay the 50% penalty in order to receive their GEIST immediately, or wait for three months to receive the entire balance — while also earning a portion of the protocol revenue.
Airdrops have a limited claim period. When a new airdrop is created, the total claimable GEIST is temporarily locked for distribution to that specific airdrop. Potential recipients then have one week to claim their GEIST. Any tokens left unclaimed after this time are released and may be distributed via another future airdrop.
Last modified 10mo ago
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