We’re proud to finally announce the next steps in our NMKR Token Distribution plans that were initially outlined in our original whitepaper.
The next two distribution events can be categorized into:
As outlined in the whitepaper, we’ve allocated a total of 120 Million NMKR Tokens (1.2% of maximum supply) to an airdrop. The overall goal of this airdrop is to reward users that have been part of the NMKR ecosystem in the past and to grow the ecosystem by bringing NMKR to more wallets.
The airdrop will happen in 3 phases, each phase with a different goal in mind.
Phase 1: We will be distributing 30 Million Tokens to everyone who has interacted with the NMKR ecosystem. The goal is to reward active members of the community. To do so, we’ve created a set of criteria which decides who will receive what amount of NMKR Tokens via the airdrop. These criteria will only be announced after a snapshot of the eligible wallets has already been done.
To give you a hint: Everyone who owns one of the over 1.2 Million NFTs minted using NMKR Studio or NFT-MAKER Version 1 will be eligible to receive some NMKR Tokens.
The Airdrop will happen in two Phases: Claiming & Redeeming. You will have to participate in both phases two receive your Tokens.
Phase 2: In this second phase we will be distributing 70 Million NMKR Tokens. The experience will be similar to the one in the first airdrop, just with more emphasis on the wider Cardano Community and our partner projects. Our goal for this airdrop is to reward the communities of the many projects that have worked closely together with NMKR in the past and bring those community members closer to the NMKR ecosystem overall. So the set of criteria will be different from the one for the first airdrop, and we will bring a variety of partner projects into the airdrop.
Phase 3: After the successful distribution of the first two airdrops, we will work with Drip Dropz to distribute 20 Million Tokens to the overall Cardano Community without any criteria. The goal for this phase is to spread the token far and wide so that we can grow the amount of NMKR holders & community members.
The second big Token Distribution event to look at is the ISPO, short for Initial Stake Pool Offering. We’ve outlined a total of 4.8% of all NMKR Tokens to be distributed via our NMKR Stake Pool over a course of 48 months.
This Stake Pool is already live and running, and even though we haven’t officially started the Token Distribution via the Stake Pool yet, we’ve attracted many delegators that are staking with us and expecting tokens.
The major difference between the ISPO and the Airdrop is that Stake Pool Distribution is also a funding mechanism for us. We have to consider the amount of money that we’re earning through the stake pool and compare that to the number of Tokens we’re giving out to the community.
On top of that, we can not flood the ecosystem with too many NMKR Coins for a relatively cheap price through the stake pool and crash the price for everyone else.
We’ve done many calculations and have come to the conclusion that we will need to make changes to our pool parameters and to the way we’re distributing the tokens through the Stake Pool. Simply following what was outlined in the whitepaper is not the best course of action. But of course, it is extremely important to us to honour our commitment to the current delegators.
Because of this, we’ve decided to do the following:
1. We’ll present you, the NMKR community two possible solutions and explain in much detail and with exact mathematical examples why we believe each of these solutions makes sense to grow the NMKR ecosystem as much as possible.
2. You will then have the opportunity to decide on one of those two solutions. We will put them up for an on-chain vote, and every NMKR holder can participate in this vote. This will be the very first decentralized act of governance in the NMKR ecosystem and we believe this could be a wonderful precedent for the future decentralization of the NMKR decision-making process.
By giving this decision into the hands of the community, we hope that together we can find the best possible solution that everyone will be satisfied with.