Hey all, so we are at a point in time, where we need some good ideas and feedback so we can develop our tokenomics model together.
This thread is a place to post your thoughts on things you can see working or not working for EasyBake, and be sure to include why it is you think what you think.
Together, lets build a robust model for EasyBake that includes the interests of the various parties involved, including investors, team and contributors, users of the platform, farmers and ideas to protect the longevity of the project, and some spice to attract the right crowd.
At this point, there are no wrong ideas, just an opportunity to voice our thoughts. Don’t keep them in your head, out , out with those great ideas.
Lets go Bakers…
Just to kick off the tread, one idea I was thinking about was the idea of a potential airdrop of sorts.
I was thinking of some of the community crossover from other projects with shared interests, and was wondering if that may be a way to build and grow the community in an accelerated way, it certainly would be appealing to all the sudden have 3-4K people involved, all because they are already on board with projects with a similar interest.
Again, this is just an idea, please feel free to comment on, disagree with, build upon anything posted in the forum.
My main reason for thinking this way, or wondering if an airdrop could fit into the model, was being involved in other projects with a crossover of similar ideas, and seeing the positivity that this brings, as well as the ability to springboard ahead in growth.
Looking forward to hearing some thoughts on this and more…
Thanks for getting us started Yellow!
I think airdrops have potential, especially because we can target the recipients.
I like the idea of luring polkadot enthusiasts our way. I think we will appreciate their support when we enter that ecosystem.
Also active traders from uniswap, sushi, pancake etc… such as wallets with x number of trades in the last 30/60 days or whatever qualify.
Just have to be careful with airdrops. Usually have to be small enough to not spook the investors. Unless we get big early $$ like uniswap did and then just give away a larger portion of tokens to build ecosystem without a traditional sale.
Also with gas costs high there’s the issue of claiming and is it worth it. Or does easybake pay gas and drop like old school.
Random (non-targeted) airdrops can be trouble with bots filling up the whole whitelist.
Seems a good idea to have a cap regardless.
As for tokenomics, possibly the the most challenging, varying and disputable topic in crypto. Haha. So critical to get right and so many ways to go astray. Hopefully we can combine enough minds together to not leave anything out!
I’ve seen hundreds of token plans and though they always share similar basic elements, they each have their own special formula that supports their system.
Basic elements of distribution:
Token sales- many different combos: early contributors, angels, seed, strategic, private, public, airdrop.
Team- founders, advisors
Ecosystem- growth, marketing
Rewards- staking, liquidity providers
Liquidity- if necessary for token support on dex.
Anyone have more?
I’ll try to provide some relevant examples.
Team, advisors, Soramitsu-30%
Private and public sale-20%
Public-30% (seems high to me)
Kusama parachain auction-5%
Polkadot parachain auction-30%
These are just a small narrow sample. There are plenty of other formulas. We need to account for liquidity mining and farming.
Also question of capped supply or not?
Emissions and burn rate?
Thank you for providing this data and I would love to hear what else you have to say.
There are a number of ethical concerns that arise when it comes to random non-targeted airdrops and I strongly advise against doing so. If there is an insistence, I will gladly contribute to a rebuttal exposing the many concerns that I have in this regard.
If we decide to go the airdrop route, I personally support the usage of a Merkle Airdrop (like Uniswap uses), where the user pays the gas in exchange for the token. The airdrop quantity and projected market cap would guide the decision as to the minimum amount (threshold) for qualifying airdrop quantity per address.
Maybe its just me, but i dont like the idea of doing an airdrop. This will bring in many users, sure, but most of them will just join because they want free money - not because they have genuine interest in the project. Most of them will dump their tokens as soon as they can, just to secure their profit.
I like the idea of doing different token sales, for example early contributors, private, public
Tokens sold in the early contributors- and private sale should be locked, to prevent dumping right after listing.
I am not well enough versed in all these dynamics to offer much advice, but from the little experience I have, I agree with nicedude.
I am with nicedude honestly,I dont see much value bought by an airdrop…I hope this discussion will get more heated and someone will change my mind.
Here’s the distribution and vesting schedule for AllianceBlock. A lot of thought and fine tuning went into its creation. Just another example, not the same as easybake.
I agree, if we go the airdrop route, that the Merkle Airdrop is the way to go.
So, in respect to a ‘targeted’ airdrop, would we look at an arbitrary community such as Unilayer, or a user base such as Uniswap users? Just curious on your thoughts based on data, as I know you love data.
I am not necessarily suggesting any particular direction yet, just using examples.
You are correct in the general assumption of people dumping, no matter where they come from. There are certainly many people looking for a quick flip from both sides of the fence, the airdropees, and the early investors. However, I think that by selecting a strategic community where people already beleive in the product/platform would help mitigate people simply joining to dump.
As a trader myself, I don’t mind the initial volatility, as if there is a plan in place, it can afford some great opportunities for late comers to scoop up some tokens on the dips.
The main advantage of having a targeted airdrop, well thought out, is that we could potentially bring in a good amount of people who will stay, if their interests are already aligned. I can think of at least one such community already.
Thanks for this, I like the way it separated the team from advisors from partners ect, as this way it doesn’t give the impression that the team was greedy and took like 50%.
Airdrops an attractive marketing means to reward people doing task. Twitter and meme contests. Any project needs awareness. Small allocation of tokens given out for airdropping least TG will not be flooded with air droppers. I have been in other projects where reckless allocation of airdropped tokens are dumped upon investors.
I’m not well versed in tokenomics.
We should also align on the purpose and incentives of the token.
- Does staking the token entitle a share of DEX revenue?
- Is there governance participation on the road to decentralization?
- Are LPs going to be rewarded pool 2 style?
I like the idea of an airdrop, maybe it could bring in some new people.
Based on what I’ve seen, airdrops are useless for their intended purpose. I believe there are far better methods of advertising and marketing. I’d say airdrops are a complete (99%) waste of resources. Airdrops are instantly sold, deflating token value, and do little if anything towards attracting further purchases or use.
Maybe if the airdrop is a “surprise” for users of the platform but just a random airdrop before the platform has any traction I think is a wasted opportunity. What are peoples thoughts on how the treasury is managed?
I would suggest going for Pre-Sale tokens for early community members at a discount rate instead of AirDrops as later is only used for early dumps.