Osmosis

$ION Token

To get the potential airdrops

$ION is the second native token of Osmosis. Its origin was meme coin and it has only utility for voting to on-chain governance. However, the proposal for adding new utilities to this token was suggested last September. Check out the proposals on the ION forum.

The first step to achieve this is to launch $IBCX index token. The $IBCX is an index that is composed of diverse tokens in Cosmos. The portfolio hasn’t been officially confirmed by ION DAO yet, but it seems like one of the ION DAO developers has proposed a suggestion on their forum.

The total supply of ION tokens is only 21,294. In addition, only a very small amount of ION tokens are currently circulating.

The DAO has been called 21,294 Club due to its total supply, which means that the ION token has a strong symbolic meaning in the community.

The important thing we should know is about the potential airdrops coming from ION DAO and Osmosis.

There are several steps remaining to proceed with the airdrops. There’s still time to be eligible for the snapshots in my opinion.

First of all, ION for the airdrops should be moving to ION DAO Treasury from Osmosis Treasury. This topic was addressed by ION DAO before, and it has been passed by Osmosis on-chain governance #120. However, as I know, another Osmosis on-chain proposal must be preceded in order to actually move ION tokens from Osmosis Treasury to ION DAO Treasury.

Second, each airdrop proposal has to be passed by ION DAO. Nevertheless, no proposals haven’t been uploaded yet on-chain. There are only two threads about the airdrops on their forum so far. The on-chain proposals haven’t been coming yet.

Let’s briefly read the details they proposed.

Proposal 1

Proposal 2

Even if the details haven’t been confirmed by ION DAO yet, we can expect some standards to be eligible for sure.

Please note that the following paragraphs are just my opinion.

1. ION holders

2. ION stakers

3. ION/OSMO LP

4. ION on-chain governance voters

5. Users who hold 5 or more different tokens in their wallet.

6. IBCX minters

7. IBCX/OSMO LP

8. Osmosis stakers

9. Osmosis on-chain governance voters

Let’s start with the standards which have higher potential.

• ION stakers - I’m pretty sure that the team will airdrop ION to the ION stakers. Currently, there is no reward for ION stakers. Instead of LPers who getting rewarded(even if the amount is too small), these real diamond hands should be incentivized. Stakers are locking their ION themselves to be participating in ION DAO on-chain governances without any revenues. In ION DAO TG group, one guy from Manythings(dev contributors team) addressed the increasing amount of staked ION. It is obvious that the dev guys recognize that many people are expecting to get airdrop through staking.

Can you even imagine that they exclude and punish the stakers? I don’t think they      will.

• ION holders - I’ve never seen holders of specific tokens excluded for airdrops. Especially in the case of ION, as I mentioned, the total amount of ION is only 21,294. It will be inevitable for dev teams to make ION holders qualified for the airdrops.

Two more standards I’m going to mention even though they have a low possibility in my opinion.

• **Holders who hold 5 or more different tokens in their wallet **- It’s more obscure than the formers. However, I think the devs will organize the standard which is aligned with $IBCX, the first product of ION DAO. Since the $IBCX is the Cosmos index token, this one could possibly be qualified. I recommend you split your assets into different wallets as many as possible.

• **On-chain governance voters **- According to the result of the ION DAO’s first on-chain proposal, the entire voting power was only 894, and the turnout just reached around 61%. The DAO needs to encourage more people to be involved in on-chain actions since the staking amount has dramatically increased. In order to achieve this, there should be incentivizing methods for the stakers before further on-chain proposals. I’m not sure about this one because it’s overlapped with the one for the stakers

Rest of them, do your enough own research. Always be aware of spam, and I hope you all survive the bear market.

Good luck!

ION DAO has its linktree:

https://links.ion.wtf/