Namada Donor Drop! Jan 18 @ 15:00 utc

Ecosystem
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Namada’s inaugural Donor Drop is tomorrow :eyes:

Target: Coin Center :dart:

Key details

Donate ETH to Coin Center’s mainnet Ethereum address to be recognized and rewarded by the Namada community.

Begins 15:00 utc on January 18, 2025 (Saturday)
Ends when 30 ETH has been recognized, or at 15:00 utc Jan 24

0.03 ETH minimum
0.30 ETH maximum (but feel free to donate more!)

1m NAM reward pool :sweat_drops:

Instructions

Have your Namada tnam address, convert it to hex, then include it in the memo field when you donate to Coin Center: coincenter.eth
Donation should be no earlier than 15:00 utc, and beware the 30 ETH cap!

We’re watching :eyes: pls don’t bot from multiple accounts! :robot:

The app developers are not responsible for allocating NAM rewards. Coin Center is not responsible for NAM rewards. The Namada community will review donations and use a Namada governance proposal to decide and distribute Namada’s community token. Nobody from Namada is responsible for Coin Center donations, so we do not have the power to refund them.

How to follow along

Join us in the #general channel of the Namada Discord server!

@zenodeapp worked with other esteemed community members (@preto, @Rigorous @sirouk) to make and host an app to support this Donor Drop and it’s pure :fire:
https://drop.luminara.icu

Alternatively there’s a google sheet here.

These interfaces are just to help make this a fun experience and so folks know when the cap is approaching–it is not a promise for tokens! The Namada community will decide.

Thanks to everyone who turned up to the Donor Drop test run on Thursday! :raised_hands:

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What’s a Donor Drop?

A new token distribution strategy pioneered by Luminara. Participants donate toward a public good/service, and the community coordinates to reward donors with their token. I think of the Donor Drop as the part that we liked about ICOs combined with the part that we liked about airdrops. The Namada community signalled strong support for this campaign in late December: [Draft] Signalling proposal - Will you support an airdrop campaign using Namada's PGF?

Why Coin Center?

This is an opportunity to reward people with our community’s token, NAM, for contributing to Coin Center, a key advocacy group. We need advocacy from organizations like Coin Center to get fair rulings–rulings that will affect our community’s vision and mission.

About Coin Center

“Coin Center is the leading non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies such as Bitcoin and Ethereum.”

About the Donor Drop

The Namada community signalled strong support for this campaign in late December: [Draft] Signalling proposal - Will you support an airdrop campaign using Namada's PGF?

The Namada Donor Drop is a win-win-win. We could directly donate NAM to Coin Center, but they need runway, not a new token with no established market. However, there are people who do want this new token, and before there’s a market.

Namada can get its token into the hands of those who are attracted by our mission and want to join our community as NAM owners. Even though Coin Center is receiving the donations, they do not need to be involved! And Namada does not need to be involved in the donations! In fact, we are just collecting public information about on-chain donations, and have no control or involvement with the donations themselves (which means we cannot refund anything or intervene :warning:)

The Donor Drop is a more elegant way to do public goods funding, and we expect and hope that other communities will do it too.

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Hope this is ok to post, I thought it was well done and might help others. (h/t @amadison79 )

Tutorial .

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I think we should not use the Ethereum mainnet because its handling fee is too expensive, which is equivalent to wasting users’ funds. Secondly, I think the lower limit of 0.03ETH should be lowered to allow more wallets to participate, especially large-scale wallets that need to use the shielding function. According to my understanding, some studios may need more than 100 or 1,000 wallets that need to use the NAM function to collect their airdrops. I think such users should not be missed. They may be people who often use the NAM function.
我觉得不应该使用以太坊主网，因为它的手续费太贵了，等于是在浪费用户的资金。第二我觉得0.03ETH的下限应该降低，让更多钱包参与进来，特别是大规模需钱包要使用屏蔽功能的能够参与进来。根据我的了解一些工作室可能需要100个或者1000个以上的钱包需要使用到NAM的功能来归集他的空投，我觉得不应该错过这样的用户。他们可能是经常使用NAM功能的人。

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The minimum of 0.03 ETH is not suitable for decentralization. Some people may come to use NAM instead of investing in it. In the early stage, I think the lower limit should be lowered to allow more people to participate. In the later stage, they may become loyal users of NAM, allowing many people who want to try to come in and try. Not all places are Europe and the United States. There are also many young guys in other countries who are willing to try. I think it is not good to have too high an upper limitI believe some people may just use NAM to get the transaction fee…最低0.03ETH不适合去中心化，可能一部分人是来使用NAM的，并非来投资NAM 的，初期我觉得应该降低下限，让更多人参与进来，后期可能成为NAM的忠实用户，让很多想尝试的人进来尝试下。并非所有地方都是欧美，也有很多其它国家年轻小伙子愿意来尝试下，我觉得太高上限并不好。我相信一些人可能只是为了使用NAM而获得手续费而已

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Why Ethereum:

  • Coin Center has a Bitcoin and a Ethereum address.
  • Ethereum is easier to work with from a Web3 perspective.
  • Namada is working on interacting with Ethereum directly.

Why Ethereum Mainnet:

  • A simple ETH transfer is not that expensive, about $1.
  • Mainnet is neutral. Accepting all of the many Layer 2s would be a burden on both the donation checker and Coin Center.
  • Namada does not want to favor any single Layer 2 over another.

Why 0.03 minimum:

  • To prevent on-chain spam.
  • The distribution of NAM will be performed through a PGF proposal, which has an upper limit of 1,000 Namada addresses.

“some studios may need more than 100 or 1,000 wallets that need to use the NAM function to collect their airdrops”:

  • The goals of the Donor Drop are to support Coin Center and give up to 1,000 individuals NAM tokens before they go to market. Certainly not to facilitate Sybil airdrop farms with their internal wallet organization. :expressionless:

“There are also many young guys in other countries who are willing to try.”

  • That just sounds like an excuse for the previous argument.
  • There are also many young guys in other countries that throw much larger amounts at random meme tokens.
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@Gavin
Guys i messed up with first transaction.
sent it without [memo field].
Second transaction sent with memo.
Pls consider this. Thx

First Transaction Hash:
0x95693615bb42900dbf1e3b6290b573b0e00f0faefc7575d2f541d15185254ea1
Second Transaction Hash: 0xa676896f07a6340cce7f9edc99b2d9bf43b99c584fe7a5ed6ba677c990c0d938

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thanks! i will note this

if anyone else has an issue like this, pls post here in Discord

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Thx for answer @Gavin :relieved: :pray:

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Congrats on the smooth execution and great turnout!

filling the 30 ETH in less than an hour is amazing for a first round, and signals significant market interest (if we see this as a purchase at a pre-sale price of 33.000 $NAM per ETH, or 0,00003ETH per $NAM, rather than a donation by users).

Given that the round filled so fast, what would you think of a second round, without cap (or significantly higher cap / pre-sale price, say 100-300 ETH), in order to gauge where market demand truly prices $NAM?
(If the 1000 address limit for PGF proposals is a concern, one could also instead reduce the $NAM per round, and, as long as they fill, have follow up rounds, each with less $NAM allocated for the same 30ETH cap, in order to simulate increasing pre-sale price.)

This would not only generate more information on market interest and more funds for CoinCenter, but also continues a successful campaign, of which many are only hearing now, without much additional overhead cost/effort.

If timed well with advancing to the last two phases, it could provide a crucial marketing boost right when shielding becomes available to IBC assets and right before $NAM becomes tradeable.

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1M NAM for 30ETH at $3,255 per ETH currently that’s like $0.1 per NAM :sweat_smile: Of course the 30ETH cap was reached almost instantly

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It was an insane bargain. I expected the cap to be reached within 1 block, but considering the circumstances of a very late public announcement, confusion about including the tnam address as a memo in the ETH transaction, the time of launch very early for US citizens (relevant since Coin Center focuses on US regulations), and the $TRUMP chaos, I deem this campaign a success.

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I just see it, and there is already 37 ETH

If I’m a real not sybil address, and want to send 0.3 ETH, is it any reson to send it now?
Or I will not get donor drop, becuase already is more than 30 ETH ?

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I was surprised when 30 ETH was decided as the target for 1 million NAM. I was thinking of at least 100 ETH. Don’t know what kind of signal this will send to market participants later when NAM is released from its chains (pun intended).

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the Donor Drop has ended! but feel free as always to donate to the amazing Coin Center team, just that we won’t be including any subsequent addresses in this PGF proposal

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