Release schedules

Note: amounts on this page should be considered (best effort) approximations and are subject to change. Not financial advice.

DAO unlock scenarios

Thanks to GIP-1, GYFI airdrop recipients can choose between:

1. Option 1: fully-liquid GYFI tokens. Any user will be able to convert their SPIN to GYFI at a rate of 1,066 SPIN per GYFI. A table of APRs implied by different FDVs is provided below for reference. There will be no vesting of tokens up to a cap. The cap will be set high so that it only affects the very largest SPIN holders. This is standard in most projects.

2. Option 2: lock up GYFI for 9 months and receive 40% more GYFI than Option 1. The locked tokens will start to unlock immediately over the course of 9 months linearly.

3. Option 3: lock up GYFI for 18 months and get 150% more GYFI than Option 1. There will be a 9 month cliff, so that users receive no liquid tokens before month 9 and then tokens linearly unlock from month 10 onwards.

Therefore the GYFI unlock schedule and circulating supply at launch depend on how many users choose each option.

Scenario	Circulating GYFI at launch	Eventual size of initial airdrop (after unlocks)
(A) All users choose Option 1 (maximum circulating supply at launch, minimum eventual size of initial airdrop)	5.69%	6.12%
(B) Some users choose each option. 30% of GYFI choose Option 1, 15% choose Option 2, 55% choose Option 3	2.45%	11.52%
(C) All users choose Option 3 (minimum circulating supply at launch, maximum eventual size of initial airdrop)	1.02%	15.27%

Note: amounts are indicative approximations and may vary. Figures do not take into account the 'whale' threshold, where the largest SPIN holders are only able to claim up to 10,000 GYFI as a liquid amount, with the rest subject to a release schedule. The effect of this will be to redice the circulating supply at launch. Not financial advice.

Scenario A

Scenario B

Scenario C

Notes:

• DAO - Treasury. The DAO - Treasury unlock assumes a crude linear unlock through time and should be considered solely as placeholder projection and is subject to change, as the unlock of the allocation depends on future decisions that the DAO will take (e.g., on grants programs and other initiatives aimed at ecosystem growth).

• DAO - Gyroscope Foundation. The DAO - Gyroscope Foundation unlock also assumes a crude linear unlock through time and should also be considered solely as placeholder projection and is subject to change, as the unlock of the allocation depends on future decisions that the Gyroscope Foundation will take.

• DAO - Initial Airdrop. The size and shape of the DAO - Initial Airdrop allocation depends on the choices made by airdrop recipients about their lockup schedule at or after launch. Allocations above 10k GYFI are subject to an additional 6-months linear vesting (but only for the portion above 10k GYFI). This allocation includes tokens airdropped as part of the SPIN points program. The above charts are assuming that 700m SPIN have been distributed by TGE. Additionally, other distributions may happen after TGE (e.g., further liquidity mining, airdrops, grants).

• DAO - Initial Service Providers. This allocation reflects GIP-3 and captures the GYFI that has been allocated to marketing and trading firms, as well as others. It includes tokens that are allocated to market making activities by third parties, the Echo round and tokens used on marketing resources (KOLs).

  • Liquidity Provisioning: 137,000 GYFI (1% of total supply) was allocated to a trading firm for the purpose of facilitating GYFI liquidity as a loan with a time frame of one year.

• FTL Labs. This refers to the allocation to FTL Labs, the team that built the first version of the Gyroscope protocol. The shape (but not size) of this unlock should be expected to vary.

Starting Sun Mar 04 2029 00:00:00 GMT+0000, the total GYFI supply is set to inflate at 2% per year. Inflation is primarily an option to the DAO: it is claimable by the DAO treasury and is by default unissued unless the DAO specifically distributes new tokens

Disclaimer: this documentation primarily summarizes decisions that have been taken by the Gyroscope DAO on the Gyroscope snapshot. For further information please refer to the original sources.