Airdrop to LQTY Community
FLTY will be distributed to LQTY holders and stakers through airdrops for 2 years.
25% of the FLTY total supply is allocated for the airdrop. Every week, a snapshot of LQTY balances (including those that are staking) will be taken to generate a Merkle root for FLTY distribution, which will run 104 times in total. To properly decentralize the airdrop review process, a 3-of-5 multisig account will review and approve the airdrop distribution, which comprises 2 members of Fluity team, 2 representatives of the Liquity community and 1 independent co-signer with good reputation and credibility in the DeFi industry. The signers will be incentivized by 1% of the airdrop tokens to make the process as autonomous as possible.
Starting from 2021-05-27, snapshots will be generated every Thursday 00:00 UTC through the script in fluity-finance/lqty-airdrop repo, and results will be uploaded to the same repo (under the
distributionsfolder), where LQTY holders and stakers can find their snapshotted LQTY balances. Meanwhile, a Dune Analytics dashboard is created to help query the snapshot balance as well (but the source of truth will still be the files uploaded to the aforementioned repo).
After generating (and verifying) the snapshot, co-signers of the 3-of-5 multisig will need to propose the snapshot's Merkle root to the MerkleAirdropper contract. LQTY holders and stakers should expect to be able to claim FLTY from the next Monday (e.g. week 2 snapshot will be generated on 6/3, Thursday, thus airdrop tokens should be claimable on 6/7, Monday).