Update: CHAOS Token Metrics
Dear Chaotic Fam,
In early March 2022, Chaotic Finance distributed a claimable airdrop to the Linear Finance community. The distribution was based on a historically time-weighted average of the debt held in Linear Buildr, where the long-term holders and supporters were rewarded proportionally. A staggering 30% (25% community and 5% Partners & Core Contributors) of the total CHAOS supply was allocated towards this airdrop. A few months have passed since and we would like to take some time to share the details and numbers pertaining to the airdrop and what’s planned for the unclaimed tokens.
The total claimable airdrop amounted to 30M tokens (25M community + 5M Partners & Core Contributors). 22,758,581 $CHAOS tokens went unclaimed. The team has, after careful consideration, decided to allocate 10M earmarked as treasury funds for the Chaotic DAO when it launches later this year. While the Linear Finance community received the bulk of the airdrop, it is important to note that Chaotic, a stand-alone platform, will be governed by $CHAOS, and allocating 10M to the future Chaotic DAO, ensures that the community has funds to continue the development of the project as governed by the DAO. 7M from the unclaimed rewards will be retained by the Foundation and used for future partnerships, potential exchange listings, debt pool balancing, liquidity incentives, etc. The remaining 5,785,581 will be allocated towards increasing staking rewards for those that stake $CHAOS.
We expect this increase in rewards will further incentivize current users staking and attract those outside of the Chaotic community to participate in the building of cUSD, and in extension trading on Chaotic Exchange.
The below table will provide an easy overview of the distribution and allocations:
We hope this brings more clarity to the funds’ distribution. Aside from these additions, our initial token metrics will remain the same. The team at Chaotic Finance will continue to work with the community in building the best delta one asset protocol on Moonriver.
About Chaotic Finance
Chaotic is the first community-driven delta one asset protocol on the Kusama network via Moonriver. Chaotic allows its users to get exposure to various synthetic assets by letting them trade long and short positions with up to four times leverage.