Airdrop, Incentives, Insiders

Breakdown of the True Freeze launch.

The initial supply of FRZ is 100,000,000. Of this: The largest amount ~42,000,000 were allocated to an airdrop to 230,000+ ETH mainnet addresses that met a variety of DeFi & NFT activity conditions including: - being liquidated on AAVE - Earning WETH fees from providing [anything]/WETH liquidity on Uniswap v3 - Holding Lido Staked ETH - Donating ETH to the official Ukraine ETH address - Holding a Zapper Season 1 NFT - Holding a Yearn Finance NFT - Holding a LobsterDAO NFT - Earning a Rabbithole Educational NFT - Donating to Gitcoin grants in Seasons 7-13 - Holding a variety of Creative Commons Public Domains (CC0) NFTs including: Tubbycats, Cryptoadz, MFERs, Nouns, TinyDino, Cryptodickbutts, Chainrunner, Goblintown, and Timeless NOTE: due to practical realities of claiming an airdrop on expensive ETH mainnet, we removed addresses who earned too few FRZ from their activity to make claiming viable gas-wise. We also capped the amount of FRZ earned for those who only met 1-2 categories (i.e., some NFT whales were capped). We then smoothed the airdrop amounts to increase the minimum amounts earned of those eligible while weighting these categories at different amounts to prevent Sybil attacks (where people prep lots of addresses to be airdrop eligible). Including bonuses for meeting multiple categories with the same address.

Airdrop FRZ not claimed by Dec 10, 2022 will be sent to the liquidity incentives distributor contract for the frETH/WETH pool on Curve. ~12,000,000 were allocated to the 4 core developers; 4M available immediately to stake; 8M vesting over 2 years using llamapay. Llamapay is really cool for permissionless escrowing/vesting like this, highly recommend it. 6,000,000 were allocated across ~20 angels & interns who supported audit, web hosting, development, marketing, product feedback, and fiat costs of core devs over the 6+ months since this product was barely a white paper. Because these holders will own significantly less FRZ than the core developers, their amounts are not vested with llamapay. 20,000,000* will be allocated to bootstrapping Liquidity Pool of frETH/WETH on Curve (governance vote to add FRZ rewards in progress but the pool is live). 20,000,000* were allocated to Partner DAOs & Protocols as grants for their ongoing development, differentiated based on willingness to adopt True Freeze as a public good they sponsor with attention, marketing, and dev time. Partner DAOs As FRZ inflates, these airdrop recipients and insiders will be diluted of ownership unless they actively participate in True Freeze and/or Partner DAOs to earn FRZ. The first year's inflation (10M) was sent to the frETH Burn contract to be distributed to those burning frETH.FRZ Inflation Schedule **** All FRZ earned by core devs & deployer address during alpha testing prior to launch were BURNED. All FRZ earned by the deployer address for seeding liquidity will be sent back to the liquidity incentives distributor contract. ~900k leftover FRZ from partner distributions were sent to liquidity incentives distributor contract. i.e., first year of inflation will be slightly less than the planned 10% & incentives will last some a bit longer than 2 years. Airdrop FRZ not claimed by Dec 10, 2022 will be sent to the liquidity incentives distributor contract for the frETH/WETH pool on Curve. ----------------- The airdrop period has ended. Please see Liquidity Bootstrapping for transaction hashes to confirm the liquidity incentives distributor has received the FRZ. This concludes the privileged controls that the Deep Freeze LLC address had over FRZ. The protocol is now fully decentralized.