Today we completed the first phase of our ongoing Leviathan Points airdrop!
Each month Leviathan intends to distribute points tracked onchain for contributors to our news bot, our videos and other tasks that benefit our ecosystem.
What are Leviathan Points? Leviathan Points have historically been a meme. A joke. Mere figments of the imagination.
In formalizing our points system, our goal is to adhere to these traditional values.
Leviathan News has been live for a year. We've survived and grown as the result of the collective and decentralized effort of hundreds of motivated community members. We want to honor and acknowledge the role the community has played in our growth.
Even before "points" became a bad joke in crypto, we had internally suggested an internal points system to track members' contributions. As crypto moved into SQL databases, Leviathan decided to move from a database onchain. Giving crypto natives an onchain way to honor their work makes the concept more tangible and fun.
How Do Leviathan Points Work?
Each month, Leviathan News plans to airdrop 1MM points. The calculus for how this is determined each month is a combination of:
The initial distribution covers a retroactive airdrop for the past year worth of points for the first category (contributions to the news bot) and a partial distribution for category 3 (misc). When tallied properly, a future airdrop will cover the remainder, at which point the plan is to return to the 1MM per month schedule.
If you feel your distribution was too high, the team has no ability to revoke points, though you may burn them. If you feel your distribution was too low, you may ping the team and we may or may not choose to send you more.
Our breakdown and distribution criteria, however, is completely arbitrary. This formula is at the sole discretion of the multisig controlling Leviathan Points. Sometimes gas may spike, or we may be too busy with other things to airdrop points promptly. We retain the right to revise this whenever we like.
Even worse, none of our smart contracts are audited, so use at your own risk.
What Do Leviathan Points Do?
Nothing. Leviathan Points are purely symbolic and carry no monetary value.
Leviathan News has no revenue. Further, with traditional journalistic institutions being shuttered left and right, the prospects of a decentralized media organization ever earning significant revenue are bleak.