Glad to see the proposal! Preventing free-riders is a great idea.
Let me ask a few questions.
1) Calculation
As far as I understood the mechanism is like below:
- Zero Vesting: Gets 40% at TGE (TGE: the event where BOOZE gets distributed for the first time)
- 1y Vesting: Gets 80% in total with 1y vesting
- 2y Vesting & 1y Bonus Cliff: Gets 100%+bonus in total with 2y vesting, 1y bonus cliff
But there’s a bit of mismatch here, like After 1 year is greater than After 2 years, and Remaining Allocation After Burning + Initial Allocation is greater than 40% or 80% for Zero Vesting or 1y Vesting.
Seems you have calculated Remaining Allocation After Burning with (Initial Allocation - Initial Distribution)*(1 - burn_ratio), which makes the total amount greater than 40% or 80%. Is this intended?
2) Initial circulating tokens
In the proposed mechanism, users who chose Zero Vesting would have most of the circulating tokens at TGE.
- At the time of TGE,
- Zero Vesting: Receives 40% of the allocation
- 1y or 2y Vesting: Receives ~5% of the allocation (if they only have Genesis)
Zero Vesting is the least community-aligned option, which may lead to claim and dump by them. And users who chose a longer vesting with long-term vision may feel that they couldn’t even have the opportunity if the token price goes down, as they have a small amount of the tokens around TGE. This is why we proposed a larger initial distribution amount equally for all vesting options in BGIP-3.
But we know that our proposal might not be the best one, and love to discuss it with others! What do you think on this one?