[Status: Accepted] XIP-1: Founding HODL'er Registry (FHR)

#1

XIP DATA

xip: 1
title: Founding HODL'er Registry (FHR)
author: Scott Scheper, https://geohackers.xyo.network/u/scott
status: Draft
category: Cryptoeconomics
created: 2018-12-08

ONE-SENTENCE DESCRIPTION

The Founding HODL’er Registry (“FHR”) is a historic list of the Ethereum Wallet Addresses that supported the XYO Network project by purchasing XYO directly from the core XYO Network team from January 6, 2018 to November 30, 2018.

MOTIVATION

The Founding HODL’er Registry will improve the XYO Network in the following ways:

  1. Community First: The FHR will show that the XYO Network values those who supported our project and believed in us from the very beginning.
  2. Geodapp Airdrops: The FHR will provide a way for those on the list to be rewarded with Geodapp Airdrops (Geodapps are dApps that integrate the XYO Network). This will provide value to those on the FHR, as well as providing value to Geodapp Developers. Geodapp Developers will have a straightforward way to get their tokens into the hands of loyal and passionate XYO Network community members. This will help Geodapp Developers launch their Geodapp and build a user-base. XYO Geodapps are critical for XYO Network to become a more adopted technology. The FHR, in turn, will help the XYO Network ecosystem in the long-term.
  3. Geomining Reward Multiples: The growth in the number of active Geomining Nodes operated in the world is critical to XYO Network’s success. There are four types of Geomining Nodes: Sentinels, Bridges, Archivists and Diviners. When setting up a Geomining Node, one will have the ability to register it to an Ethereum Wallet Address. If the Ethereum Wallet Address is an FHR wallet address, we are considering adding a reward multiple (say 10% more XYO earned when Geomining) for FHR members. This will increase the incentive for FHR Members to get involved in XYO Geomining. Thus, result in a higher likelihood of the XYO Network’s growth.
  4. XYO Token Distributions: During the GAMMA Stage XYO Token sale, 5 Billion Tokens were allocated to a pool in order to allocate them through sale to the public. We closed the GAMMA Stage sale after XYO Network WinterNet was launched on November 9, 2018 at the first annual SPATIAL Summit. Remaining in this pool are ~4.3 Billion XYO Tokens that XY is currently the stewards of. We intend to distribute this 4.3 Billion XYO Tokens in the form of Geodapp rewards, Geomining incentives and, quite possibly(!), directly to FHR members over a period of time. In doing so, it will showcase that we value the early support of our FHR members and early community members.

SPECIFICATION

The FHR will be comprised of those who purchased directly from the XYO Network core team from January 6, 2018 to November 30, 2018 (“Founding HODL’er Period”).

YOU CAN FIND THE DRAFT OF THIS LIST BELOW


We had three stages of the XYO Token Sale:

  1. XYO Pre-Sale:
  • Time Period: January 6, 2018 - March 19, 2018
  • Average ETH Price During Period: $834.67
  • Average Price XYO Was Sold At During Period: $0.0042 XYO
  • ETH Sold: 2,076.98
  1. XYO Main Token Sale
  • Time Period: March 20, 2018 - May 20, 2018
  • Average ETH Price During Period: $695.63
  • Average Price XYO Was Sold At During Period: $0.0069 XYO
  • ETH Sold: 15,320.38
  1. GAMMA Stage XYO Token Sale
  • Time Period: May 21, 2018 - November 30, 2018
  • Average ETH Price During Period: $362.28
  • Average Price XYO Was Sold At During Period: $0.0059 XYO
  • ETH Sold: 11,530.25

The FHR will be forever stamped in history.

The FHR dataset will contain the following fields:

  1. FHR Wallet Address: The FHR Member’s Ethereum Wallet Address
  2. Founding HODL’er #: Their FHR #
  3. FHR Birthday (UTC): The Date in Which They Made their First XYO Token Purchase and First Joined the XYO Network Movement!
  4. Founding XYO Balance: The amount of Total XYO they purchased during the FHR Token Period
  5. Current XYO Balance: Current XYO Balance of Their FHR Wallet

It will be accessible in the Account level view of the XYO Network GAMMA Platform (https://gamma.xyo.network)

Here are the proposed mock-ups of the FHR:

DESIGN RATIONALE

The rationale for including the member’s “FHR Birthday” is two-fold: 1) It allows one to sort the FHR by the list of oldest or youngest members. 2) It provides a reminder for when you officially joined the XYO Network movement!

The rationale to showcase the FHR Member’s Founding XYO Balance is to highlight the amount of XYO he or she purchased during the Founding HODL’er Period.

The rationale to showcase the FHR Member’s Current XYO blance is to showcase whether they’re still HODL’ing their XYO, or if they’re

REQUEST FOR COMMENTS

RFC #1: What do we do about cases where XYO has been moved from the FHR Wallet to a different wallet address that the FHR member still owns?

One of the main issues we have to solve and account for is the case in which the FHR Member has since moved their XYO into a safer storage option. For instance, (Scott speaking), my Dad is FHR Founding HODL’er #1 - he purchased using MetaMask, but has since moved his XYO to a safer storage option (offline cold storage: such as a Ledger Nano or Trezor).

One option would be to require him to transfer it back to his FHR Wallet Address, and in setting up the Nano or Trezor to import the private key.

Another option would be a bit harder. This would entail going through a process where we create a smart contract verification mechanism where he or she can whitelist additional addresses.

RFC #2: Another Question: Should those who were given XYO for purchasing a ticket to SPATIAL be placed on the Founding HODL’er Registry?

Right now those who attended SPATIAL and were given are not on the FHR, as we have limited the scope to those who purchased XYO directly from us via smart contract.

If you have thoughts, please provide arguments FOR or AGAINST this. And describe why including the SPATIAL attendees will help create a better long-term XYO Network ecosystem.

Please let me know if you have any other comments on how we should handle this. We are open to either. Or perhaps there’s a better option.

Any other comments are also welcome!

NEXT STEPS

1. We intend to leave this list in Draft mode until December 15th.
2. On December 15th, we’ll put it into a Final Call stage and solicit feedback for an additional 1-2 weeks.
3. We’ll begin the front-end development of implementing the FHR feature in the GAMMA Platform Web Application
4. Hopefully, within 3-4 weeks (depending on the comments and features raised), this will be official published and live!

2018-12-17 STATUS UPDATE

Alright, everyone!

I’ve gone through all replies and feedback.

Summary up to this point:

  • The consensus is to add the ability to whitelist multiple wallet addresses that you still own (those in Cold Storage), WITHOUT having to import private keys. We will work on spec’ing this out and implementing this!
  • This brought about the idea of a Founding Shareholder Registry for those who purchased equity during this period of time. We like this idea. Idea (probably a different XIP): Create the ability for XY Shareholders to whitelist Ethereum Wallet Addresses to be added to the Founding Shareholder Registry. We would ensure that those who are added to this list actually EARNED the XYO Tokens and are fully bought into the vision (i.e. qualifying by staking a Geominer using their FSR Ethereum Wallet Address)
  • SPATIAL Attendees who received tokens for their attendance: I tallied 4 No’s, 1 Neutral. As of this time, we will not be automatically adding the wallet addresses who received their XYO Tokens for attending SPATIAL. The definition of the FHR remains:

The FHR will be comprised of those who purchased directly from the XYO Network core team from January 6, 2018 to November 30, 2018 (“Founding HODL’er Period”).

New emphasis on purchase

Thanks for the feedback so far everyone!

This XIP has now moved into Final Call status.

8 Likes

#2

Whitelist option please! I don’t like the idea of moving private keys around. Thanks Scott.

2 Likes

#3

Hi Scott. Found my address and have transferred to cold wallet. I don’t also like the idea of moving tokens back and forth. What’s the ratio in terms of airdrops?

0 Likes

#4

Yep cool. Thanks for the feedback. Yeah we’ll definitely have to figure out a verification method to whitelist new addresses. Shouldn’t be hard, but will definitely push things back a week or so in order to make sure we do it right (securely).

You mean if a Geodapp chooses to airdrop their tokens?

That is up to the Geodapp developer.

1 Like

#5

So I was wondering about my tokens being in cold storage, I am currently on a Towboat in the Gulf of Mexico and before I left I transferred my tokens to my nano ledger s. I won’t be home until January 9th to be able to transfer them back to my trust wallet. I would really like to participate in the airdrops. Please help if you can. Thank you

1 Like

#6

I purchased from the main sale in April/May with my Trust Wallet. I knew I’d be holding for long time and moved them to cold storage. It would be awsome if I didn’t have to move them back.
And a question. After buying a small bag during ICO I was then unable to buy anymore during Gamma since I’m in the US. I did increase my stack using DDEX.
Will all of my tokens count towards airdrops if I keep them in the whitelisted wallet? Or just the ones I purchased direct from ICO?

2 Likes

#7

In reference to the FHR specification, I purchased shares from XYO, since I was identified as being from the US. Will shareholders also be included in the FHR? We supported the XYO Network also from the start.

3 Likes

#8

That’s a great idea.

Maybe enable our Founding Shareholders to whitelist an Ethereum Wallet address and create a Founding Shareholder Registry “FSR” so they can participate in Geodapp Aidrops. Hmmmm. I like.

6 Likes

#9

Great question. Will likely not require a private key import based on feedback here already.

We like the idea of incrntivizing HODL’ers. So the more you hold (meaning at or greater than your XYO purchased during founding period, then the more benefit you will have).

7 Likes

#10

Shareholders are part of the community too! :sunglasses:

7 Likes

#11

I agree :100:

3 Likes

#12

Picked pup my kit and shared 2day. Got my archavist up last week I’m ready to get crackin on daaploy. Let’s do this. I transferred my whitelisted cold storage to trust. Should I just throw it on metamask or ledger nano?

1 Like

#13

Love this.
I’ve got main sale tokens, IDEX tokens, Spatial tokens, and XY shares… but most importantly, I’ve got these rad socks from Spatial. Can’t decide if I want to wear them or frame them.

I’m an aero engineer by trade but have made it a goal/imperative to learn software and maker my first geo dapp. Peace brother.

2 Likes

#14

Chicks love the socks

1 Like

#15

Hi Scott! I would much prefer the whitelisting option, I’m not keen to move my XYO back as the original wallet I used may have been compromised.

2 Likes

#16

The first RULE of “Fight Club”, you don’t talk about “Fight Club”.
The first RULE of “Crypto”, “NEVER” send/import your “Private Key” ANYWHERE. :-):stuck_out_tongue_winking_eye:
I really don’t care for the idea of my private key going anywhere other than my gun safe, but thats just me. :grin:

Even if it takes a little longer, we should go a route that does not put a FHR Member at risk to compromise their wallet’s security.

4 Likes

#17

Hi Scott,

I do have tokens from the ICO, gamma sale, Spatial and Idex. As USA residents, we were no longer able to buy tokens from he gamma sale as of Sept. 4, 2018. Other accounts separate from the whitelisted account were opened. I believe long term hodling of XYO tokens from whatever source is highly beneficial for the whole ecosystem. As such, incentivizing will add more motivation to do so. I have 2 proposals. First, FHR members may consolidate all their tokens in the original whilelisted wallet/legitimate wallet. Additional incentive, though less, may still be given to those who continue to hodl tokens in excess of the amount purchased during the ICO and gamma sale ie: 2% more XYO earned when geomining if the added tokens are kept at a certain amount for a certain period of time. I hope this makes sense.

4 Likes

#18

@edaway Scott actually suggested 10% in the original post. Thought you might like that :wink:

3 Likes

#19

I understand that 10% geomining incentive is for the being in the FHR assuming that you have the tokens hodled. I was suggesting additional 2% more XYO incentive for hodling added tokens from other sources like Idex, or Spatial ( consolidated in the whitelisted wallet). After all, the goal is to hodl XYO for a long time.

2 Likes

#20

Would love to see a feedback to that question :slight_smile:

0 Likes