After discussing with the grants committee, weād like to suggest the following:
- Move forward with the 25,000 HOP delegation campaign grant. Thereās a lot of leg work involved and this seems well deserved.
- Opt out of the gasless delegation and distribute HOP directly to participants at the end of the week with the intention of incentivizing a higher amount of redelegated HOP.
HOP rewards will be calculated based on a formula that dampens rewards for larger token holders. Here are some example reward amounts.
| Delegated | Value | Reward | Value |
|---|---|---|---|
| 1,000,000 | $93,000.00 | 2431.601043 | $226.14 |
| 500,000 | $46,500.00 | 1512.336288 | $140.65 |
| 250,000 | $23,250.00 | 1018.12142 | $94.69 |
| 100,000 | $9,300.00 | 671.7913006 | $62.48 |
| 50,000 | $4,650.00 | 517.9728615 | $48.17 |
| 25,000 | $2,325.00 | 407.1433731 | $37.86 |
| 10,000 | $930.00 | 292.9130536 | $27.24 |
| 5,000 | $465.00 | 219.7503371 | $20.44 |
| 2,500 | $232.50 | 154.8867568 | $14.40 |
| 1,000 | $93.00 | 83.02203871 | $7.72 |
| 500 | $46.50 | 41.6255279 | $3.87 |
The exact formula is: REWARD=(100*LN(X+500))+(0.0017*X)-650 where X is the number of token delegated.
Only wallets that hold at least 500 HOP at Tallyās snapshot time will be eligible. If all participants earn less than a total of 50,000 HOP, all rewards will be increased proportionally to meet this minimum. Without exact data, we would not expect more than 100,000 HOP to be rewarded total based on the current HOP holder distribution and estimated participation.