With Astroport 2.0’s imminent launch on Terra 2, Astrochad has turned his gaze toward further decentralizing the protocol. At the heart of that decentralization is a new set of ASTRO tokens that will launch on Terra 2.0 and provide governance power over the protocol.
As previously announced, an airdrop will go to astronauts who held ASTRO Classic (“ASTROC”) or xASTRO Classic (“xASTROC”) on Terra Classic before and shortly after UST’s depeg as of two snapshots:
- Snapshot #1: A pre-depeg snapshot taken at Terra Classic block 7544910 (2022.05.07 23:00:04+08:00)
- Snapshot #2: A post-depeg snapshot taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00)
xASTROC holders will receive an ASTRO airdrop based on the xASTROC-ASTROC exchange rate the time of each snapshot:
- Snapshot #1: 1.071314111315487 ASTRO per xASTROC
- Snapshot #2: 1.1660223237543614 ASTRO per xASTROC
50% of the airdropped ASTRO will go to ASTROC and xASTROC holders as of Snapshot #1, and 50% of the airdropped ASTRO will go to ASTROC and xASTROC holders as of Snapshot #2. This means that if you held your ASTROC through both snapshots, you will receive a 1:1 airdrop of your ASTROC holdings on Terra 2.0. If you held your ASTROC through only 1 snapshot, you will receive a 0.5:1 airdrop.
Altogether, 133,864,556.146 ASTRO will be airdropped to the addresses shown here, and these tokens will be immediately claimable upon their launch. The table below shows the amount of ASTROC and xASTROC that was held on Terra Classic at the time of the snapshots.
ASTRO’s annual inflation rate (which is 100 million tokens in Year 1) will remain unchanged. However, the total supply of ASTRO will be increased from 1 billion to 1.1 billion on Terra 2.0. The additional 100 million tokens will be exclusively used to incentivize liquidity. A portion will go towards a future lockdrop mechanism, and the remainder will be distributed at the same rate as the long-term emission schedule. Plans for the uncirculating supply including locked builder allocations are still being finalized, though Astrochad expects few changes to the pre-depeg distribution.
Note that the existing implementation of Astroport will remain live on Terra Classic for as long as the network remains operational. However, with two networks running in parallel, there will be two sets of governance tokens:
- ASTROC tokens on Terra Classic, which (if staked for xASTROC) will be used to govern and receive fees from Astroport on Terra Classic
- ASTRO tokens on Terra 2, which (if staked for xASTRO) will be used to govern and receive fees from Astroport 2.0
ASTRO tokens on Terra Classic have already been renamed Astroport Classic (ASTROC) on several popular price tracking sites including Coingecko and Coinmarketcap. Astroport tokens on Terra 2.0, will go by their original name and ticker: Astroport (ASTRO).
Using ASTRO on Terra 2.0
ASTRO tokens will feature the same functionality that they have on Terra Classic. Astronauts can stake ASTRO to unlock fee sharing and governance powers over the protocol.
This rollout will come in short phases:
- The launch of Astroport 2.0 for swapping and providing liquidity.
- The ASTRO airdrop and activation of ASTRO emissions.
- ASTRO staking and fee share.
- The full launch of governance via the Astral Assembly.
Fee-sharing is driven by trading activity on Astroport. Specifically, a portion of all trading fees are used to periodically purchase ASTRO on the open market and deposit it into the xASTRO pool.
As time passes, each xASTRO token will then be convertible for more ASTRO. This means that when you unstake ASTRO, you should receive more ASTRO than you originally staked.
ASTRO rewards in relation to xASTRO are based on total fees collected and the amount of xASTRO outstanding; there is no need to claim and/or restake your ASTRO rewards.
The ASTRO generators are being primed, and ASTRO emissions for LPs will go live with the launch of ASTRO tokens. Four pools are expected to be incentivized at launch:
Governance will have the power to add more. Astrochad and his crew of astronauts are working around the celestial clock to launch Terra 2.0 and deployment is expected in the coming days. Follow Astroport on Twitter and keep your comms channels open to be the first to know when it happens.
The future awaits.
This article does not constitute investment advice. Before interacting with Astroport, review the project disclaimers here.