To reward early adopters and supporters and continue the growth of the Hats protocol, part of the token supply will be airdropped to wallets that fulfill certain criteria. The airdrop will be happening in one or more rounds and the criteria will be announced retroactively taking into consideration who contributed to growing the Hats ecosystem.
The first airdrop will reserve 2% of the total supply for eligible addresses. The token will not be immediately claimable but will vest once the $HATS token goes live. Accompanying the token eligibility there will be an NFT airdrop for everyone in the “Early Depositor”, “Committee Member” and “Security Expert” categories. Those NFTs can be claimed immediately and allow the holder to join the “Embassies”.
The redemption period to claim NFTs will last 60 days. After the redemption period is over, eligibility will be revoked.
Hats token allocation
The Hats tokens reserved for each category will be allocated based on points earned in that specific category. Most eligible addresses are expected to be eligible for more than one category. The size of each category allocation was chosen with this in mind and under consideration of the total number of eligible wallets in each category.
60% of the first airdrop will be allocated to users that deposited into a bug bounty vault. The amount each early depositor is eligible for is based on a scoring model that has three tiers for time and the amount of liquidity added.
This ensures that time and liquidity amounts are taken into account without concentrating governance power and punishing small contributors disproportionately.
*average value in USD over the full time deposited
Committee members are responsible for creating bug bounties, communicating about security measures with their respective communities, and triaging incoming vulnerability reports. For these contributions, they will be rewarded with 15% of the total airdrop supply. The amount each committee member will receive depends on how much liquidity the project team deposited. A high bounty shows dedication to secure development processes and creates trust within their community. Additionally, it’s skin in the game and supports Hats’ ecosystem as a whole.
If the committee deposited less than $200 of liquidity to the vault it will be excluded from this category.
*value in USD at deposit
The Crow Clan is the backbone of our movement to create a safer Defi ecosystem. Since the Crow NFTs could either be earned by depositing or by participating in the Crow Challenges, this allocation is just a small bonus on top of what contributors will receive from other criteria. 13% of the supply will be allocated to Crow NFT holders.
White hat hackers and security researchers are the lifeblood of the Hats machinery. Everyone that got rewarded with a Hacker NFT for disclosing a vulnerability or solving the CFT challenge will be included in this category. Additionally, security researchers that have noticeably contributed to the safety of Hats, such as by auditing the protocol in an exceptional way, will be rewarded. 10% of the total supply will go towards this category.
Those community members that qualify for one or more of the categories “Early Depositors”, “Committee Member” and “Security Experts” can claim special NFTs that hold utility and bragging rights.
Every user that fulfills the criteria of “Early Depositor '' will get an additional special NFT we call the “Protector of the Chain”. Each tier will get its own version of the “Protector” while higher tiers are also eligible for every NFT of the lower tiers. Each bounty has its own unique NFT so users who have deposited into multiple bounties can claim the NFTs for each project they contributed to. We strongly encourage holders of this NFT to proudly brag about their contributions using their NFT and look forward to a special place within the community.
The NFT will give access to the Embassy of each respective project. Embassies are a dedicated place for teams and their community to discuss everything security related and each Embassy is able to send one ambassador to the Security Council.
Eligible participants of the category “Committee Member” will receive the “Mother” NFT giving them access to the project embassy and highlighting their special place and responsibility in the community.
The “Security Experts” will be eligible for the “Super Coder” NFT which is proof of technical know-how and tangible contributions to security. This special NFT does not give access to a project embassy. Instead, it grants access to the Security Expert Embassy that is allocated within a unique pillar of the Security Council. The Security Expert Embassy is able to send multiple Ambassadors to the Council.
The security council is created out of three pillars that all have their own goals and ambitions but are united by the greater vision of making Web3 a safer place for its users.
The first pillar is the security community, which is made out of the different community embassies. The initial embassies will be created for projects that host a decentral bug bounty but the criteria soon will be expanded to cover further categories. The security community pillar will be a place to discuss everything security related at the level of the everyday Web3 user. Once a shared vision or demand is formulated, the security community will leverage its seat at the table to influence the other pillars and make sure everyday users are heard.
The second pillar is the security experts. This pillar is home to security researchers, white hat hackers, and auditors. A place to discuss security on an expert level, react to incidents and discuss best practices and security standards.
The third pillar is the security infrastructure. A place for decentral security primitives like decentral bug bounties, decentral insurance, and more. In this forum, builders meet to create and maintain the security infrastructure of the future, align smart contracts to make them composable, and form alliances for the benefit of the community and the ecosystem as a whole.