When the protocol was initially set up 5m VIPER was pre-minted to be used for a future airdrop.
At the launch of the protocol 5m VIPER was worth roughly ~$25,000, but at current prices those 5m VIPER are now worth $1,500,000. I never really envisioned that VIPER would 60x so fast when the initial airdrop was allocated and that the airdrop allocation would surpass $1m+.
The airdrop could prove to be an efficient marketing tool to attract users from Uniswap, Sushi, Bao, Pancakeswap etc - but I’m starting to think that we maybe should re-allocate some of the funds towards other initiatives?
We could e.g. keep 2m VIPER for the original airdrop and use the remaining 3m to e.g:
Reward ViperPit stakers - we could send 100,000 VIPER on a weekly basis to the ViperPit as extra incentives. The 3m VIPER would in that case last 30 weeks / 7.5 months. This would make it even more attractive to perpetually stake VIPERs instead of selling them, thus reducing selling pressure of the token.
Incentivize trading activity - we could do weekly airdrops to people trading on the exchange to incentivize trading activity which would result in more trading fees. The extra trading fees would be used by the ViperPit to market buy more VIPER and distribute it to the ViperPit stakers.
Dev treasury - some parts of the original airdrop allocation could be redistributed to the dev treasury with the goal of expediting multiple audits of the project.
Community initiatives - we could redistribute some of the funds to community initiatives such as referral competitions, community led marketing initiatives etc.
What do you guys think we should do with the 5m VIPER airdrop allocation?