New Snapshot as of 9/15/2020 to include users from 9/1/2020 until the announcement was made

Proposal to take another snapshot after 3 months for 9/15/2020 and provide wallets that were not eligible during the first snapshot an allocation of UNI, and then burn all UNI tokens designated to be distributed by the claiming mechanism that remain unclaimed after 6 months.

Pro:

  • Another Round of Hype for UNI in 3 months when more users claim their tokens.
  • Another round of hype in 9 months when the unclaimed tokens are burned.
  • Uniswap users from the last two weeks don’t miss out on the UNI distribution.
  • A low cost gesture of goodwill towards newer DeFi users.

Con:

  • More work for an already slammed dev team.
  • It may spike ETH gas prices again.
  • Likely more that I’m missing

Search Words (Missed out, Snap shot, new DeFI User)

32 Likes

I don’t think this is a worthwhile endeavor.

The reward of 400 UNI was designed to reward patrons of the Uniswap protocol, and many users got lucky as they had used many different wallets when interacting with Uniswap granting them extra tokens.

However, if we were to do this again, and this time with users having the knowledge that they can create extra accounts for extra UNI, this would incentivise users to create wasteful trades with new addresses just to earn UNI.

I think there would just be too much illegitimate traffic by bots trying to farm as much UNI as possible and this wouldn’t really help Uniswap all that much.

48 Likes

Agreed.

Perhaps I worderd my proposal poorly. My intent was to say that the snapshot should be taken with a cutoff date of 9/15.

And then make UNI claimable to those users who missed the initial cutoff.

14 Likes

I think users from 1st Sep to 15th Sep have been neglected and mistreated.
Why not make a few more users happy and gain their loyalty?

14 Likes

I wouldn’t go that far
I understand having to take a snapshot a few weeks early.
It’s a ton of work to gather all the data needed to make that decision.
But, now that it’s been made I definitely would appreciate another swing at the snapshot!

4 Likes

Ah. Is there really a reason to do this though, I can’t really see how important it is it provide a couple more users who didn’t make the cutoff with extra UNI, there’s always going to be a semi arbitrary cutoff for these kind of drops, and there will always be someone who was just an hour or a day late.

I think creating more tokens for the sole purpose of pleasing those with unfortunate luck isn’t worthwhile.

7 Likes

The cutoff should be The moment they announced this.

15 Likes

Good Question.
I think instead of minting more tokens they could just use the unclaimed tokens as of 3 months from now.

It would give all of the users in the initial snapshot time to make their claims if they were going to. And it wouldn’t dilute the distribution by a noticeable amount.

I’m going to point out my bias here in saying that I missed the snapshot by a day so would definitely appreciate an opportunity to get some UNI.

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I believe the original snapshot served it’s purpose, but I’m not sure another snapshot would be equally beneficial.

New users can always provide liquidity until Nov. 17, 2020 to earn their UNI.

8 Likes

It definitely wouldn’t be equally beneficial, since there’s a much smaller subset of people who will be included.

It definitely wouldn’t be detrimental though.

I’m not on board with this proposal. The snapshot date was chosen partly as a way to exclude some of the whale capital that flowed into Sushi from Uniswap governance. Uniswap’s distribution model works because it distributed UNI to those who were using the protocol even without the promise of being compensated with token rewards. It stands to reason that these users may have more to offer the governance community than those who are simply seeking the highest APY.

Edit: see hayden’s post below re: cutoff time New Snapshot as of 9/15/2020 to include users after the initial snapshot was taken

13 Likes

That’s a good point that I hadn’t thought of.
Would you be in favor of setting a fixed allotment to wallets that hadn’t interacted prior to the cutoff vs the dynamic allotment used in the first distribution?

Or is there no scenario where you’re in favor?

The Sushi Migration happened a few days ago. On 15 Sep I guess.
How about 1st Sep to 15th Sep!?

Also, I heard they have awarded sushi chefs pretty handsomely with lots of UNI!

Very Nice

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Here is some context into why there was a cutoff date in the first place

15 Likes

That makes sense. I had a feeling there was some kind of blackout due to disclosures that had to be made.

Thanks for replying! I know you guys are swamped!

I’m trying to think of how to prove that I was a user to make a claim that would be verifiable and not spoofable or gameable.

What if you did the Uniswap activity check + an age of wallet check to ensure that a bunch of wallets weren’t spun up just to take advantage?

Disagree. Cut off date is fine. New users should use the service and if they want to earn UNI they can provide liquidity. Or they can just buy some UNI.

5 Likes

I think this is going to set a bad precedent. There will never be a cutoff date that everyone is perfectly satisfied with. If you were to set the snapshot a week forward, wouldn’t those that were one day short also feel left out? Also it opens the door to arbitrating whether or not certain users who submitted more transactions should be retroactively compensated and more. I do feel sorry for some users that perhaps just missed the cutoff but most were probably not heavy users of the platform. I think we need to press forward with the current snapshot even if it is slightly unfair. Also, I think that there are still viable ways to obtain UNI and be part of the protocol as a latecomer, such as being an LP, being part of the governance, and or buying it off of the market.

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Hey look, its as fair as they could possibly make it. I dont see any reason to change the drop, retro this, its not fair,etc. I could yell all day its not fair that someone else had 50 wallets they used Uniswap on and now they have enough to retire on! Or that I didnt have the capital or understood how to earn on Uniswap by depositing liquidity! All these “the drop wasnt fair” threads need to go so we can move forward.

5 Likes

I don’t like this idea. The good thing about the original was it was unknown and couldn’t be gamed. If this was to be implemented it would cause a mad rush of people gaming the system. There’s no reason or need for it. Initial distribution was more than fair. And with so many people dumping their coins the price is quite depressed for anyone wanting to buy more.

5 Likes

Agreed. These are just “I want more free money” posts.

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