[SEP #5] Redistributing Unredeemed Tokens From User Airdrop Allocation

A combination of distributing to those who have already claimed, those who contribute to the forum and those projects/products who are improving the ecosystem

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Missed my claim by 3 days, sadly we were missing a signature from a friend in our dao to claim tokens, he was in holidays and we forgot. as we need several signatures in many cases that’s why there are many unclaimed tokens, it’s not possible to extend the deadline a bit ?

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There were quite a few airdrop farmers that slipped through and claimed thousands and thousands of $SAFE.

If those who claimed their $SAFE before the deadline were to be granted more $SAFE I think the airdrop farmers should be excluded. No need to reward them with more tokens they will most likely dump as soon as $SAFE becomes transferable.

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I redeemed on my personal Safe, but we missed the deadline on the friend’s DAO as well for 1 missing signature. I think we should extend the deadline for a long time.

There aren’t a lot of incentives to redeem right now because the token doesn’t have a monetary value… incentives are actually negative due to gas fees.

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I think the governance activists on the aave, uniswap and compound chains should be airdropped! They are the pioneers of chain governance!

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go for 1 or 4 is a good idea tnx

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Here are some thoughts let me first frame out my supporting facts:

  1. Original claim date was September 27 to December 27 (90 day claim period)
  2. There was historical eligibility requirements to be eligible for the airdrop & generally the requirements were reasonable and the project successfully avoided blatant airdrop farmers.
  3. During the last quarter the average price to deploy a mainnet safe <$10.00
  4. Projects, participants, and users continue to use their safes. (Air drop farmers likely aren’t).
  5. The allocated tokens to the airdrop can not be reallocated until transferability is turned on.
  6. The SAFE Foundation has additional tokens that “theoretically” could be loaned against the value of the currently non-transferrable SAFE tokens to set up another airdrop.
  7. The goal of the initial airdrop was to create decentralization and distribute governance tokens in order to drive the longevity of the SAFE DAO.

I would like to propose that we look at taking the remaining amount of SAFE tokens (~32M) and do an airdrop based on the utilization of SAFEs on mainnet during the airdrop claim period. This way we would ensure that we are incentivizing real users of SAFEs. (I am currently against turning on transferability until the culmination of a second airdrop - so would look to propose that we borrow ~32M SAFE tokens from the foundation using the currently locked initial airdrop tokens as collateral).

This would provide newly recruited users of SAFEs, existing users of SAFEs, and users that have been actively using and building in the SAFE ecosystem over the last 90 days to earn additional governance tokens. In addition - this should also increase the likelihood that the SAFE tokens will be claimed as these users would be considered more engaged since have used a Safe within the last 90 days.

Proposal Synthesis:
A. New Airdrop of ~32M SAFE based on utilization of Safes during the airdrop claim period. Fund the airdrop by borrowing tokens from the Foundation using the currently locked airdrop tokens as collateral to be repaid once transferability is turned on at a later date.

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proposal 1 and 4 is great those who claim their token they got extra …I can see lots of people says give airdrop to l2 community but I don’t think that’s a good idea their are many chains you can’t imagine how many user are there u can’t happy everyone and because of minimum fee lots of users created genosis safe in l2 and those users have multiple wallet in multiple chain so that’s a not good idea to gave airdrop to l2 users

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You can’t imagine how many users in l2 …averyone have genosis safe in every chain …like one man have genosis safe in polygon… optimism …bsc … arbitrum and many chain how can they just gave token to every chain users like I have different genosis safe in all chains that’s why I don’t think l2 users should include in this airdrop

I would suggest to include L2 chain user’s
I know there would be many users in other L2 chains, but we should have filter to remove farmer’s by having minimum 15-20transactions.
If you distribute Tokens to L2 ultimately you are going to be beneficial as safe holder’s will increase and community would be happy.

I agree that farmers shouldn’t be included, but it’s trivial to retain the same cutoff date and have additional criteria. The bottom line is that actual users of the service, regardless of which chain, should be included in governance.

I feel very sorry for this method. I think it can be given to users who are using safe, but many people created wallets before the snapshot just to get airdrops but did not use them normally.

+1 to this! Great point.

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It’s important to further decentralize the voting power given this opportunity.

@kdowlin’s concept is interesting because recent users of Safe (after the $SAFE claim announcement) likely had no expectation of earning any tokens because the cutoff period had already been defined. Using a portion of the unclaimed tokens at minimum, to distribute to users under the same or similar usage guidelines as the original distribution, seems like a meaningful and simple solution.

Here’re my thoughts on what to do with unredeemed tokens:

Regarding Daniel’s options of 1,2,3,4 -
I oppose 1 completely (for fear of governance power imbalance just because people didnt redeem a token)

I would much rather have another claim session opened up for users who didnt redeem it & broaden the pool of token holders within the SAFE community

I also like the idea of doing a broader airdrop to people who’ve participated in valuable governance based votes across values congruent communities like Gitcoin, DeSci communities etc

2 - I love the idea & feel we should open it up to broad DAO content creators & educators as well who can be capable leaders of the safeDAO ideals & developments

FTX was a byproduct of the crypto community, why? because for far too long, the industry fetishized developers & token related progress while neglecting the content creators, the community influencers… people who could spread the word about how to do things right in the crypto space forcing a lot of these people to turn into outright grifters or look the other way in the face of obvious scams

We finally have a chance to pummel self custodial solutions developed on Safe into the pleb collective mind as the paradigm shift necessary & for that to materialize, SAFE must invest in the right narratives, community education & content creation.

Also like @gokhan’s idea of a SAFE grant initiative for devs

  1. It’s a token rightfully earned by the users & should be given out to the broad community, shouldnt be wasted earning 5% yield for the treasury considering the large war chest raised by the SAFE foundation

I would advocate opening up pathways to contribution for the community allowing them an opportunity to earn the SAFE token while it’s still non transferable… reason being at this point of time, you’re gonna get contributors who aint token mercenaries dumping on you by month end… contributors who believe in the SAFE mission so much that they are willing to work for the mission till SAFE develops the tokenomics & biz market fit required for the right launch & even more…the chances of contributors who get incentivized through SAFE now being long term are much higher now… so the community should take the lead on the pathways soon

Disclaimer: I’m a content creator in the DAO ops space

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I suggest the following:

  1. Extend the claim date by a few weeks to give everyone who didnt claim a second chance and make sure only dormant addresses are left out

  2. Hand out the rest to the users who claimed their airdrop pro-rata

As much as I would like L2 Safes to be included in the airdrop it’s almost impossible to do it in a sybil resistant manner imo

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Unclaimed tokens means , either eligible ones dont care about tokens or they forgot to claim.
I think one more last chance should be given to unclaimed addresses. If they fail to claim this time. The reward should be equally distributed to the addresses who already claimed tokens.

I think it could REALLY help to extend the deadline and allow more users to claim their airdrop allocation. First of all, since we are dealing with wallets, there is a coordination challenge inherent in multisig. Secondly, I NEVER heard about the airdrop until today, and only because I started searching for the date myself. I had asked on the forum back in September when the date was and then heard NOTHING about it. I’m not totally out to lunch I do my best to keep up with crypto and ethereum but this was not publicized very well imo.

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Yes I agree one more chance to claim is SUPER important. It wasn’t that I forgot to claim, it was that I never knew the claim had started OR that there was a deadline.

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Since apparently the date of redemption is hard-encoded and can’t be changed, I would strongly advocate for 3. Leave Tokens in the SafeDAO treasury, and then allow for people who missed the redemption to manually request their allocations.

If someone could show me where on this forum the airdrop was ever announced. I have been a member of the forum since August and this was my main channel to get news about SafeDAO, and I never saw any post about the airdrop starting (only discussions about how to execute the airdrop).

I have absolutely no voting power in SafeDAO as I have lost all my allocation because I didn’t redeem in time (which I think 3 months is very short period compared to other airdrops; think UNI, CRV, ENS, etc).

If you really have over HALF over tokens going unclaimed maybe that tells you something about the manner the airdrop was executed and announced. And if the problem now is that there is an unintended imbalance of voting power, then allowing people who missed the redemption to manually claim their allotment through treasury proposal (I had a large amount of tokens I was allotted) would be one way to ameliorate that situation.

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