A proposal on how to deal with the mistakes of the $FISH airdrop (Airdrop to all voting power instead of voluntarily staked)

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are there any updates on this? Have the errors been identified yet? Did anybody came forward with a solution?

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Errors were identified, see Exiledsurfer’s post in this thread. Babelfish is working on it, please give them a few more days.

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Yeah, no problem as long as it’s fully fixed.

As a newer Sovryn, I did not have any vested stakes back in April/May. So when I learned of Babel Fish I started purchasing and staking SOV voluntarily to:

  • I thought earn meaningful Sovryn platform rewards on my staked SOV (did not happen so much but rectified in more recent SIP)

  • Have a decent stack of staked SOV to be calculated against for the Babel airdrop

The inclusion of vesting amounts for the airdrop massively, and seems to be very massively, diluted the amount of FISH a voluntary staker received.

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This was a mistake, and is being corrected. I will post a thorough explanation here when the devs have completed their work.

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Hi Yago,

The genesis and origin sale of Sovryn have received too much FISH, but even combined it is just a few percentage, it’s peanuts.

The Sovryn team has 20% of the total SOV supply vested, and therefore received majority of the FISH. Are you going to return them?

Also, same question goes for the early VC investors of Sovryn, they have also received most of the FISH.

You probably know who they are. Can you contact and arrange something with them?

Would like to know your thoughts on this.

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Just wanted to say I appreciate the Sovryn community’s peeled eyes. Keep up the good work guys! Can’t wait for more innovation and growth to blast SOV to the next level and value! Fi, Defi, NFTs, games, more existing tokens, new tokens, whatever it takes. Offer everything. Make this thing the MegaDapp!

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Regarding wallets that were mis allocated more fish than were intended. Can they be blocked from future airdrops or rewards until they have returned excess fish?

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29

That is actually a good idea

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mistakes happen - how you react to mistakes signals how competent your leadership is (looking at you babelfish).

A new FISH token would make sense, but it violates the principle of decentralization. Make a mistake, fork it.

intuitively, I’d argue for sovryns to return any misbegotten FISH. However, this error seems to have impacted a specific subset of sovryns (those who staked small % of their overall SOV). Further, most of these people by definition did NOT decide to stake. Why does that matter? It means that they didn’t feel pro-FISH enough to stake their SOV. I.e. If you decide to punish sovryns who benefited the most, you probably alienate them as well. You immediately sever good relations with sovryns who are best positioned to be future FISH community members by virtue of proximity.

Any solution should be fairly neutral. Ideally, those who made the mistakes would simply be punished for it. However, the punishment here would exceed the crime by far. Punishing the dev would nuke the project before it even starts. So, that’s off the table. If we’re talking utopian ideals, yeah everyone would return any misbegotten fish, but that’s inflicting the costs of FISH’s mistakes onto people who were unaware. Not to mention, that would go against human nature to just go out of their way to hand back money (doesn’t even include gas fees, so what the hell?).

tl;dr My favorite solution is to have a “staked FISH” token where if you received your fish legitimately, then you get to stake your FISH and receive it back after a nominal number of days (like 7 or 14). However, any misbegotten FISH are returned after an excessive period of time (say 10 years). If you remember your FISH in 10 years and it’s worth something than awesome! Note: stakedFISH would be the only token actually traded and/or receive distributions.

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Babelfish’s most recent post on this matter:

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I notice that the Babelfish post states…

“Between September 9th and 12th the BabelFish team will transfer the full amount of FISH owed to SOV stakers from the first phase of the AirDrop.”

Is there any update on this, has anyone received FISH tokens they were due?

Many thanks

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Thought I saw some drop today

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34

Ah yes!

Thanks for the heads up.

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All seems to be in order on my side, as a big SOV staker. Thanks guys.

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36

Received! Thanks for working on this! :muscle:

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