We are getting $PINK and here is how to get your share

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Hey everyone,

For those tuned in to DotSama, the buzz surrounding $PINK has likely reached your ears. The PINK team is allocating 1.25% of total supply to Moonbeam. Why, you ask? Because our community took the initiative to propose and vote for a referendum to open an XCM channel with Asset Hub and the registration of PINK. And that’s why we’re redistributing our allocation back to the community!

The volatile nature of meme coins demands swift action. That’s why, as a Governance Researcher at MBF, I am presenting an allocation plan to you for your review and input.

Disclaimer: The Moonbeam Foundation is putting forth this plan to the community to review and optimize via discussion and feedback. As with any community tokens, especially meme-coins, there are inherent risks. This post should not be construed as an endorsement by the Moonbeam Foundation.

Allocation Breakdown:

  • 50%: Reserved for deployed Moonbeam projects with active users/transactions and in good standing, ready to shake things up in their communities
  • 25%: Dedicated to the amazing Moonbeam community
  • 25%: Strategically set aside for targeted growth initiatives (DeFi, Gaming, RWA, Global Expansion, DePIN, AI)

Project Allocation:

Projects deployed on Moonbeam can apply for a fixed 5% of the total allocation. Only 10 projects can get PINK points and the application process will be on a “first come, first served” basis. Here is how it will work:

  • Submit an application on the Forum between Jan 26, 3pm UTC - Feb 5, 3pm UTC.
    • Title: Project name| PINK allocation request
    • Company Name
    • Lead applicant (First name/ last name/email)
    • Metrics planning to improve (users/TX/TVL): baseline and target
    • Strategy to improve
    • Timeline: Start/end date of deployment, with the start within 2 weeks of receiving the tokens.
    • Token allocation/distribution plan
  • Wait for the feedback from the Review Team

Projects are required to allocate 100% of the received funds to their users and are discouraged from retaining any portion for internal purposes.

Community Allocation:

Our long-term community members will be rewarded for their loyalty and commitment. You have been with us through thick and thin, and we appreciate it.

  • If you are staking on Moonbeam and Moonriver, hold ‘I voted! NFTs, participated in governance, delegated tokens on the Karma dashboard, joined discussions on the Forum - all of it will be reflected in the amount of PINK allocated to you.
  • If you have just joined our community, you will have a chance to get yourself some PINK via a list of activities that would lead you through our ecosystem in a fun way.

Keep an eye out for the announcements in the coming days where we’ll share more details!

Administration

  • Multisig Guardians: PINK allocation will be sent to a specially set-up multisig and the current three non-foundation Treasury Council members, @dev0_sik, @_yrn, @Michele, will be its guardians. Since they are elected by the community and entrusted with treasury funds, it seems logical that they distribute the PINK on behalf of the community.
  • Review Team: Project applications applying for a PINK allocation will be reviewed by a special team consisting of the following people:
    • The three non-foundation Grants Committee members, @jim_certhum, @kingluuu, @neo_kryptodudespodca, as they have experience in reviewing applications of similar sort and knowledgeable about the Moonbeam ecosystem
    • @turrizt as he has a comprehensive understanding of the ecosystem dynamics (he also proposed to register xcPNK)
    • @GodsHunter as he is one of the OG Senior Ambassadors and can act as a representative of ambassadors

As always, transparency matters: updates on approved teams and supply depletion will be posted here on a weekly basis. Any unused $PINK will go back to the Community Allocation by Feb 15th and used for future community initiatives.

It is the first time our community is coming across this sort of community airdrop, and I assume it won’t be the last. While this plan is proposed by the governance researcher at the MBF, plans and processes for the cases that follow in the future will need to be optimized/proposed via a community discussion.

With that, I invite you to chime in and provide feedback on this plan over the next 48 hours. If you see room for improvement, please suggest concrete actionable items. And please, keep in mind we have a limited window to convert buzz into sustainable traction on-chain.

Update from Feb 5, 2024

The Review Team has approved the following 12 teams to get $PINK allocation:

• Evrloot
• Prime Protocol
• StellaSwap
• DOTins
• Lunar Gaming Festival
• Zoombies
• Exiled Racers
• The Great Escape
• Beamswap
• MoonFit
• AirLyft
• Moonwell

These projects will now share 50% of the tokens allocated for the Moonbeam ecosystem, each receiving approximately 4.1667% of the $PINK distribution.
This decision was made with the ecosystem’s best interest in mind, aiming to support more projects that contribute positively to our community. We’re excited to see how this distribution fosters growth, engagement, and success for each project and their users.

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Hi Lina!!!

Such plan sounds really good to me and specifically I like a lot the idea of giving back some love to all the Community Teams and Members that shared these 2 years of Journey with us.

The only part I need to better understand, just for confirmation: the last 25% to be allocated for strategic items will be managed directly by MBF?

Thanks a lot in advance, consider this post as a supportive answer from my side!

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hey, Lina, thanks for putting it together. I’m fully on board with these plans and ideas. It’s really fantastic to see that active community members will be the first to benefit from the PINKDROP. I’m also thrilled that Moonriver stakers are getting a mention and an allocation

let’s kickstart the excitement and I genuinely look forward to witnessing a surge in activity within the network, all with those delightful PINK vibes

let the fun begin!

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I wouldn’t say it better

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Hey @lyn,
I love the distribution of Moonbeam’s PINK allocation!! Very well planned.
Projects as well as community members will benefit from it :slight_smile:

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Awesome to get a retroactive drop on Moonbeam. A few suggestions for conditions for who to reward:

  • Moonbeam Crowdloan contributors
  • Moonbeam stakers with a snapshot somewhere in the past
  • Governance voters
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Hi Michele,
I’m glad the plan looks good to you :slight_smile:
About the 25% allocated for growth initiatives: the initial plan is to let our BD team to come up with a plan and they are working on it. Apart from targeted initiatives, there are geographical regions we are currently focusing on such as Brazil and Vietnam, possibly South Korea. These 25% can also be used to reach new users in those parts of the world.
If the community members, especially those with expertise /experience have suggestions and would like to contribute, they are more than welcome.

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hey Thiesku,
the last two you mentioned are definitely in the list.
as for the crowdloan contributors, I’m sure they’ll be in the first two lists if they’re still a part of our ecosystem :slight_smile:

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Thanks a lot Lina!!!

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wow great news :hugs: :+1:

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hehe, sound good
LFG

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Hey there! This sounds like an awesome opportunity for Teams on Moonbeam and a even better way to reward loyal Moonbeam folks.

One concern I have that may need adjustment in the form of clearer rules:

Every Moonbeam project that wants to apply for a portion of the $PINK allocation will try to post their application at exactly Jan 26, 3pm UTC. And since the rule says “first come first serve” this will most likely lead to a snipe battle. This can quickly turn really unfair as the decision on who gets a piece of the cake will rely on who was able to click the “Post” button at the right time.

After discussing with Sicco and others of the Committee, we feel like an equal distribution between the applying and accepted Moonbeam Ecosystem Teams would be the fairest.

So if 15 teams are deemed eligable, the supply would get distributed equally between them. If only 5, it gets distributed between those.

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Cool!:boom:Thank you Lina for such interesting news.:hugs:

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Hi @KingLuuu ,
I understand your point and I agree that there might be a situation where there is a “snipe battle” between projects on Jan 26, 3pm UTC. But isn’t it FUN?! :grinning:
I’d love to see the thrill of it where teams are excited to participate in this battle!

But jokes aside, there are couple of reasons I proposed this process:

  1. “First come, first serve” method should trigger competitive spirit among teams leading to better efforts. No participation trophy for those who just qualify. Let there be a battle and the best ones get rewarded!
  2. Act promptly while it is HOT.

I propose the following:

  • Allocate on the basis of FCFC.
    IF there are more than 10 teams who have submitted excellent proposals between Jan 26 - Feb 5, the Review Team retains the right to readjust the %.
  • IF there are less than 10 teams, each get 5%. The rest of the allocation will go to the Community Pool and people can propose what to do with them later (maybe initiatives to promote governance participation on Moonbeam/Moonriver?)

The reason I am not in favor of allocating more than 5% to any single team is that compared to what the rest of the ecosystem participants will get, it is more than enough.

But again, I am open to suggestions if there are clear arguments and actionable items on the table.

P.S. I’d like to remind our community members that there are ~10 hours left for you to provide your feedback and ask questions. Let’s keep things moving and let the fun part start :star_struck:

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Hi @KingLuuu

I understand your point regarding FCSF as well. But let’s keep in mind that it’s all one big fun. We’re distributing meme tokens. And even though it’s a meme token, I love how their team works and how they’ve shaken up the whole ecosystem with their presence. Just don’t take it too seriously.

All I can promise you is that we will try to make decisions with a cool head. But we can’t take on every project. If the entire ecosystem applied tomorrow, we would just drown in the decision-making process. And there will still be people who are unhappy.

But I would also like to say that with regard to those projects that will not be able to pass or will submit late, we will try to take this into account for the future, if such a collaboration happens again with any of the projects. We are very warm to everyone who has chosen our ecosystem as their home.

Just please keep in mind that sometimes you can’t take everyone with you. But this is not the last opportunity and there will be many more to come. Just let’s have fun and play a little ))

P.s. Dont forget that we have also some deadlines from Pink. We dont have months, or weeks.

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Appreciate the hardwork @lyn and fellow Council Members!

We the team at StellaSwap say: LFG :rocket:

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Hey. Exciting News!
Thank you Lina for sharing with us.
In my opinion, the breakdown is pretty straightforward: 50% for Moonbeam projects, 25% for the Moonbeam community, and another 25% for growing DeFi, Gaming, etc. I like the fairness of it.
I’m all for the transparency in how things will be managed. The Multisig Guardians and the Review Team seem like the right folks to handle the nitty-gritty. I like the commitment to keeping us in the loop with weekly updates.
I would like to clarify about senior ambassadors. They’ve been here since day one, right? Maybe they deserve a little extra love with a separate allocation.
All in all, the $PINK plan looks like a positive move. Can’t wait to see how it all unfolds and what’s in store for the future.

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Thank you for your warm words :slightly_smiling_face:

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Thanks for suggestion, its are good points.

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hey @Az_StellaSwapCD and StellaSwap team!
looking forward to your application! :blush: