Gro proposes to distribute 1,000,000 Gro DAO Tokens (1% of total token supply) to the community based on their use of Gro and participation in the upcoming token launch event (LBP).
The two biggest requests from the Gro community so far regarding $GRO distribution has been :
- Airdrop for protocol users
- Pre-sale for our community
So as part of the upcoming DAO vote on the LBP, we’re also proposing an airdrop to address those requests!
How do I get this airdrop?
The airdrop will be distributed based on two criteria: (1) liquidity provision to the protocol, (2) participation in the LBP. This basically means that if you’re a protocol user you’ll get an airdrop, but if you’re a protocol user who is also participating in the LBP you’ll get even more GRO —so instead of a pre-sale, it’s another way to give users a benefit for participating. In order to qualify you will need to have liquidity in the protocol at the snapshot end time.
1) Providing liquidity in Gro
- Snapshot start: 00:00 UTC on August 13th, when Gro beta opened to the public.
- Snapshot end: At some point during the week after the LBP finishes.
- Liquidity is measured by your total TVL in Vault and PWRD, weighted by the time held during the snapshot period (e.g. higher TVL or longer time increases your weight).
2) Acquiring and holding $GRO from the LBP
- Snapshot start: 16:00 UTC the day that the LBP goes live.
- Snapshot end: At some point during the week after the LBP finishes.
- Participation is measured by the total amount of GRO acquired in the LBP and held at snapshot end.
Because using the protocol AND participating in the LBP shows an even stronger commitment to Gro DAO, the airdrop is weighted towards LBP participation. Your share in the airdrop is calculated as:
Please note, a wallet must provide liquidity to Gro protocol to qualify for this airdrop (i.e. have a balance higher than zero at the snapshot end), so if you’re planning to participate in the LBP then do so from the same wallet that you use with the protocol. The airdrop like all other community incentives will be be a vesting reward with 10% available on day 1 or 100% after 1 year.
Important Disclaimers
Any foul play will not be accepted, terms are subject to change
This post is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws.
Prohibited from participating in the LBP: Any citizen of, or a person domiciled in, the United States, Cuba, Iran, Syria, North Korea, and the Crimea region of Ukraine, Afghanistan, Ethiopia, Guyana, Iraq, Sudan, or Yemen.
#LFGRO and let us know if you have any questions 🚀
