- LON tokens are the utility tokens of the Tokenlon protocol. In the LON Giveback Programme on December 23, 2020, a total of 15,000,000 LON tokens were allocated for retroactive airdrops to early supporters. As of now, there are still nearly 10 million unclaimed LON tokens in the Merkle Redeem contract.
- The LON tokens in the contract consist of retroactive airdrops and tradie mining rewards. This proposal only focuses on the unclaimed portion of the retroactive airdrops, which amounts to 9,892,722 LON tokens, worth approximately $6,133,487.64. The unclaimed portion of the trade mining rewards is not part of this proposal.
- The TIP 38 proposal was passed through community voting, and the community treasury funds will be used for various purposes including but not limited to community development, growth marketing strategies, bug bounties, media promotions, data API subscriptions, infrastructure servers, etc.
- To transfer the unclaimed 9,892,722 LON tokens (worth approximately $6,133,487.64) from the retroactive airdrop contract to the Tokenlon community treasury. These tokens will be utilized in ways that benefit the development of the Tokenlon ecosystem.
- The trade mining rewards page, along with any rewards claim will be halted on March 18, 2024. Any unclaimed tokens will be transferred to the Tokenlon community treasury, which will be used to incentivize community ecosystem development.
- Authorization will be granted to the Tokenlon team to execute this proposal. On March 18, 2024, the unclaimed LON tokens will be transferred to the Tokenlon community treasury with full transparency.
- The usage of these tokens will be based on the TIP 38 proposal and the following principles:
- Ensuring long-term alignment between the Tokenlon protocol and the LON community.
- Using LON tokens in a way that benefits the Tokenlon protocol or LON token, with full transparency included in regular reports.