Hello dear Valkyrie and LUNAtic community,
We, at the Valkyrie Protocol, aspire to build a stronger Terra community and push the boundaries of greater innovation in the Terra and larger crypto ecosystem.
We just want to take this time to thank the Valkyrie community’s support in helping us drive ambitiously towards this goal. As we press on to create a healthier ecosystem, we have previously allocated airdrop supply as part of our tokenomics to Luna stakers, who we believe are the pillars of the Terra ecosystem.
However, the Valkyrie team has been closely watching the behaviors of users holding VKR over the last two weeks. We have seen large wallets who have been largely inactive in the community sell their airdrops, resulting in negative consequences for Valkyrie’s most loyal users. We believe therefore that it is our responsibility to reduce the downward pressure of VKR arising from future biweekly airdrops to Luna stakers.
We believe that this is the best course of action for the Valkyrie community.
In part of achieving our ambitious mission to ensure a more fair system, we will set the following on our airdrops:
We will be introducing a maximum entitlement airdrop cap for the top 1% of LUNA stakers. For all remaining stakers, they will be eligible for their airdrops up to the max entitlement airdrop cap. We believe that this will introduce a levelling of skew, and create a more fair system for all of our community members.
As for the residue VKR that are not airdropped, we will keep it locked up and engage the Valkyrie Community to discuss how it should be used going forward.
We hope that this change will reflect positively on the safety of the Valkyrie community, and we recommit ourselves to the community in ensuring a safer and prosperous future for the protocol.
As always, we welcome any feedback and engagement from the community.