Indigo INDY Airdrop & Initial Token Distribution Vote Details
Wondering how Indigo’s airdrop and token distribution will work? Here we describe the INDY token distribution process and the steps that are required for you to get involved.
Join the Indigo Discord to stay up to date.
- No Indigo team member will message any individual offering INDY tokens. Do not share your wallet information or private keys with anyone
- No action guarantees anyone to receive INDY
- In line with our legal counsel, the option to do an airdrop prior to the launch of the v1 is NOT possible, and will open us to regulatory scrutiny
Indigo’s development team has been fielding the community’s suggestions over the last several weeks with regards to the Initial Token Distribution plans. Our promise has long been to remain transparent and open with our community in all areas of our development. In staying true to that promise, our final step was to gather all of your suggestions and meet with our legal counsel to determine what we can and cannot consider within the current regulatory framework that exists regarding these processes. It is critically important that we proceed in a manner that ensures the team and the community are safeguarded from any future regulatory scrutiny.
The INDY Token Distribution Plans up for vote are in line with those laws as we understand them.
As per Indigo’s tokenomics model, there’s a 2% allocation for DEX Staking / Airdrop. This is to be distributed one-year post-launch of Indigo. Due to community feedback and the pending vote, this plan is subject to change. On February 23rd, 2022 there will be a vote on whether this allocation plan should be altered.
The vote will now have two options:
- Begin INDY distribution process AT THE TIME of mainnet v1 launch of Indigo Protocol; or,
- Begin INDY distribution process 1YR AFTER mainnet v1 launch of Indigo Protocol.
What is INDY?
INDY is the Indigo DAO’s governance/utility token. The Indigo DAO owns the Indigo Protocol. Holding INDY gives users the right to stake within Indigo in order to earn a share of the protocol’s fees. Staking INDY also gives the right to create proposals and vote on existing proposals.
There will be a total of 35M INDY. This supply will be fixed and unchangeable. 700k INDY (2% total supply) will be distributed to the community in several parts of Indigo’s Initial Token Distribution plans.
Token Distribution Goals
The goal of distributing INDY tokens to the Indigo community include:
- Drive collaboration with DEXs, which is crucial for the long-term success of Indigo
- Stick true to Indigo’s core of being community-driven, allowing all interested parties to obtain voting rights in the Indigo DAO
- To promote and spread the word about Indigo and its capabilities
- To reward those who help Indigo’s cause
- To further decentralize voting power
- Bootstrap INDY liquidity
- Bootstrap the Indigo DAO Governance process
Suggestions by the Indigo Community
Many Indigo community members have suggested that Indigo’s current distribution plan should be altered. Indigo could theoretically start distributing INDY at the time of mainnet launch of the protocol instead of 1yr afterward. Since Indigo is a community-driven project this decision is now to be put up for a vote on the 23rd of February.
Current Steps to Take
Join the Indigo Discord to engage with the community and contribute to the discussion of the Indigo Token Distribution plans. Voting will open in the Indigo governance forum on February 23rd, 2022 and ends on March 9th 2022. Details on how to access Indigo’s Governance forum will be shared by moderators and team members on Discord.
The Indigo team will be holding a Community Call in Discord on the 22nd, one day before voting begins. This is a great time to vocally ask questions directly to the team. Stay active over the coming weeks and look out for more token distribution news!