I am writing this in light of recent discussion on Twitter regarding BLD (Agoric Governance Token) that will be in possession of Bootstrap, the parent non-profit entity of Electric Coin Company.
First objective of this topic is to continue discussion on giving incentives for Shielded Pool usage and adoption. If we are going to do an airdrop for ZEC Holders in Zcash, then it is only sensible to do it in shielded pool. Especially, as the UX are improving significantly with Orchard coming and development of shielded transaction for Hardware Wallet. Second objective is to gather sentiment of such idea and to understand if such idea are feasible technically/legally/socially:
- Technically this seems to be feasible, especially with Orchard coming online on mainnet. Also, I would suggest that any technical solution that comes out of this, must also fulfill requirement for better future ZEC Holders vote mechanism, addressing the concerns expressed in the previous ECC ZEC Holder poll.
Now, since we want to respect privacy of the participants. I propose that instead of one party deciding which address get how much, how about we make it so that any participant in the airdrop: (1) calculate their proof of ownership by themselves (with zkp) (2) submit the proof to a contract (smart contract on Agoric?) which then (3) decides on how much to give to that particular submitter?
Legally I have no idea. However, other projects have been able to distribute tokens especially through a 501(c)3 like the owner of ECC, Bootstrap.
Socially, I want to start the discussion here. My proposal is for Bootstrap to distribute a portion of BLD for ZEC Holders, based on average ZEC held in Orchard Shielded pool for an agreed-upon period in the future. Example: BLD will be airdropped based on weighted average of ZEC held in Orchard Address between block height 1490000 and 1499999. If this is found to be constrained by compute-power, we can select random snapshots between those block heights. Such as, 1 randomly chosen block for every 10000 blocks between block 1490000 and 1499999.
Two factors remain out of community’s hand: (1) What will Bootstrap/ECC management do with the BLD in their possession. (2) Will there be a team to develop these kind of features (such as the proof of ownership tool & smart contract on Agoric).
Edit: Added two new sections from my replies below to bring more clarity of what kind of idea that I have and limitation of such idea.