Alternative idea for airdrop: YBX

General
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Hey everyone,

I’m on the tail end of a call shift so I’ll keep this brief, but I just wanted to share a thought I had earlier today. I asked Edgar on Twitter if it would be feasible to use the points system to airdrop YBX as opposed creating a governance token. He seemed interested in the idea. What do you all think?

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Airdrop for real users of marginfi 1k+ points for eligibility criteria airdrop for all customers not for only whales

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What would be the benefit of not having a MRGN token?

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Higher TVL because of the whales want to farm airdrop

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Link wallet to forum and airdrop contributors via points maybe?
Just idea

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I’m curious if there’s been more discussion on this - I see a couple challenges:

  • Separately from an airdrop, there’s value in having a governance token (so this wouldn’t remove the need for a governance token)
  • $YBX needs to be collateralized with LSTs, so the DAO would need to acquire LST exposure. In theory it could hold LST exposure, mint $YBX for various reasons, and have part of its treasury be effectively long $SOL

cc @macbrennan

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Brother, you are taking too long to put the token on the market and it may become outdated, other protocols are already working and the token will soon be on the market. Whoever launches first comes out ahead! You want to scam users by farming our money and you will lose the market as other protocols will release tokens before yours.

Launch and give the rewards soon, get rid of this step, it’s past time!

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100% 3 months to discuss criteria where there is logic

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Can you explain why not having a governance token would be a benefit? I am not criticizing, but I’m wondering if this idea is a result of impatience for a token, or if it would really make sense to do something like this.

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Would still have the dao token. Not sure what would
Be airdropped or how the dao token would distributed.

Would be cool to get ybx and Mrgn

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The more I think ahi it this the more I like it. I would like to still be a member of the dao though.