A total of 300 million VALAS (10% of the total supply) is allocated to bribes, airdrops, and other initiatives aimed at incentivizing those who use and support the Valas protocol. These tokens are released linearly over 1 year and will be used to target various communities, token holders, and use cases. The announced GEIST and BLIZZ airdrops are included in the 10%. This will also include Ellipsis gauge bribes.
The continuous release means the protocol can continuously re-evaluate where resources can be best allocated to support the protocol. It is by no means aimed to become a recurring weekly airdrops to the communities mentioned above.
This forced gradual release mechanism is done to prevent sudden supply shocks or excessive sell pressure on the token. It also gives us freedom as a community to choose who we should target with our incentives.
Airdrop recipients receive their VALAS vested, in the same way as VALAS earned via protocol use. Receivers may choose to pay the 75% penalty in order to receive their VALAS immediately, or wait for three months to receive the entire balance — while also earning a portion of the protocol revenue. It is the same penalty system as for vesting, so penalty fee will decay over time.
Airdrops have a limited claim period. When a new airdrop is created, the total claimable VALAS is temporarily locked for distribution to that specific airdrop. Potential recipients then have one week to claim their VALAS. Any tokens left unclaimed after this time are released and may be distributed via another future airdrop.