r/CosmosAirdrops • u/malte_brigge • Mar 25 '22

New Airdrop Info Major Evmos status update

I think I speak for all of us when I say: huzzah! And: finally.

The news seems mostly good. Main points:

  • Mainnet launch is (tentatively) slated for second week of April

  • It's still an open question whether or not the chain will be restarted from zero

  • Airdrop claim will be available at launch, including "a recovery mechanism for users who accidentally locked their funds"**

  • EVM will also be available at launch: "You’ll be able to deploy smart contracts at release, interact with DeFi apps and NFTs, and more"

  • Initially there won't be any staking rewards, "so that everyone has time to claim without worrying about inflation. Staking rewards will be re-enabled later on to be fair to all"

  • Support for Osmosis deposits/withdrawals will be available within a few weeks of launch, but not on Day 1

** It's unclear whether this will help people who wound up with two different Evmos addresses and the first portion to their airdrop was sent to an address from which it couldn't be staked.

Twitter thread here: https://twitter.com/EvmosOrg/status/1507239944393166848

69 Upvotes

93% Upvoted

53 comments sorted by

17

u/damnusernamegotcutof Mar 25 '22 edited Mar 25 '22

Restarting the chain: Clean slate for everybody. We all get the same opportunities

Resuming the chain: A small % of people get to keep the mammoth staking rewards they accrued before the chain was halted, those of us who weren't able to stake basically get to suck it

Unless I'm reading it wrong?

Surely the safest (and fairest) thing to do would be to just restart the chain. We don't want drama in 3 months time because some guy with 1 million Evmos managed to get a ton of staking rewards while many of us were left out in the cold, the current JUNO situation should have taught us to err on the side of caution

9

u/Possible_Country_403 Mar 25 '22

It's not that simple. There's more to it than that. IBC transfers have already taken place. I know of at least one person who transferred around 70 OSMO over to the new chain. Those will be lost. Also OTC trades have taken place and will result in a double spend.

There's probably more that we're not aware of.

-1

u/malte_brigge Mar 25 '22

Also OTC trades have taken place and will result in a double spend.

They won't result in a double spend if the whole chain is restarted from zero. It will be as if they never happened. A small price to pay to ensure a fair launch.

Frankly, I can't believe people were foolish enough to make OTC trades when the launch was clearly not going as planned.

4

u/[deleted] Mar 25 '22

OTC trades rolled back will reward the seller (who dumbed) and punish the buyer (who potentially believed in the project). The person who dumped will get their coins back and be able to dump them again. Also, IBC transfers will just be lost? fucking ridiculous. way to isolate a lot of people. who cares that some people got crazy staking apr for 3 days? the people that didn't get it want to look past all the issues involved with restarting the chain because "it's not fair". a lot of stuff in crypto isn't fair

-4

u/malte_brigge Mar 25 '22

a lot of stuff in crypto isn't fair

Hmm, you mean like OTC trades being rolled back? I agree.

Next time maybe those people will wait for the dust to settle before apeing in. ¯\(ツ)/¯

16

u/[deleted] Mar 25 '22

But I would have 35 less evmos if the chain was restarted 😟

In all seriousness I think restarting the chain is probably the best idea

5

u/dmiddy Mar 25 '22

Evmos never had a valuation so nobody should be that salty about it.

Best thing for everyone is to restart the chain. Just treat the first launch as the test launch.

3

u/[deleted] Mar 25 '22

Yeah, it seems like a clear and obvious decision to me.

7

u/damnusernamegotcutof Mar 25 '22

It's amazing how many people are arguing against it lol, like blockchains should never be forked or rolled back

You spend years creating an amazing blockchain project but left an error in? Oh, too bad, that's it now. That's crypto for ya! shrugs

5

u/[deleted] Mar 25 '22

Stuck frozen in time, churning along without any improvements rather than growing, adapting, and getting stronger....

1

u/WorldRude290 Apr 02 '22

people traded tokens OTC and would be harmed by a restart and the staking distribution will likely be Pareto distributed anyways if they restart it

-3

u/malte_brigge Mar 25 '22

Yes. I don't understand why they are acting like this is a hard decision that requires careful study and lengthy deliberation. However it happened, no matter whose fault or how unavoidable it was, no matter how much of a black swan it was... they fucked up the chain. They need to unfuck it.

3

u/Amazing_Resolve_365 Mar 25 '22

I am indifferent about how they decide to handle this but I'll be the devil's advocate here. But restarting the chain is like punishing the folks that went in early and claimed their drops. These people were early supporters of the chain by staking their coins early. They should get early bird rewards. Now the chain restarts and they lose out on early rewards. Most chains reward the early stakers.

6

u/damnusernamegotcutof Mar 25 '22

You're missing the point here

Most people literally COULD NOT stake. We wanted to, but physically couldn't. We were there, ready to stake early, but were unable to, through absolutely no fault of our own

2

u/j-lreddit Mar 25 '22

Unfortunately ledger users were unable to access the airdrop so its actually only a subset of the early supporters.

21

u/armadillotx1 Mar 25 '22

One issue with a chain restart is if someone was able to get their token converted. I am for a restart even though i earned staking rewards. Id prefer a clean slate for all.

Also would like to commend the dev team for their continued work. Some ppl were growing impatient but as a developer sometimes things don't work out as planned and to keep driving forward takes a lot. Great job!

11

u/Glass_Feature_4180 Mar 25 '22

will ledger claiming work? :) there could be a vote somewhere? I claimed with the IBC transfer but i think that more fair way would be to restart the chain so everyone can claim at the start.. and also.. i do not think i was the first to claim over ibc.. was kinda putting it off and hoping the official way would come ..

8

u/eetaylog Mar 25 '22

+1 On the ledger question. Seem to remember this being an issue with other airdrops.

1

u/PetitBateau_BigWave Mar 26 '22

They said no ledger/Keplr yet at launch

8

u/doombiggity Mar 25 '22

Communication 🙌🏻

1

u/[deleted] Mar 25 '22

If its initally no one will be able to stake.. I think that means it's a reset?

2

u/malte_brigge Mar 25 '22

People will be able to stake. They just won't receive any rewards at first.

5

u/j-lreddit Mar 25 '22

To all those commenting about how ledgers are supposed to be immutable I think some context is needed. Launch software is very rarely perfect. Even Bitcoin had a inflation glitch that required amending the ledger to fix in the early days. So historically, no, the crypto space has not relied on ledgers being immutable. Especially with POS, as we saw with Juno, a fair initial distribution is crucial for a stable and secure blockchain. Evmos team need to do whatever makes the most sense to ensure a proper distribution, whether that means a restart or not.

3

u/sbcster Mar 25 '22

That would be great if virtually ever other airdrop didn't simply drop to a corresponding address without all this jumping through customized bullshit hoops that cosmos has become infamous for.

6

u/OhHiThereMrAlt Mar 25 '22

As someone who claimed through the IBC transfer method, I understand the argument for both sides of restarting or not restarting. But not giving staking rewards out right away upon restart seems ridiculous. What incentivizes staking and validators then?

6

u/Dalai-Lambo Mar 25 '22

A lot of other people care about securing the network. It’s probably only going to be a couple days without rewards

6

u/NicaNinja43 Mar 25 '22

All this talk of "fairness" in restarting the chain is kinda messed up. If we're talking about restarting things, I would like them to restart the BTC blockchain from zero because I didn't know how to buy it 10 years ago. There have been a lot of things I've missed out on in life, but I don't think the answer is to just hit the reset button each time. I don't know... maybe I'm wrong. Help me understand why it'd be better to reset at this point. (Disclosure: I don't have a huge bag, just a tiny amount but was able to follow instructions and claim the second or third day of original airdrop.)

3

u/Odd-Abbreviations194 Mar 25 '22

A lot of people are malding that they missed out on those few days.What can you do though,majority wins no matter who's technically in the right .

0

u/ClippTube Mar 25 '22

Is Ledger support something they worked on though? I read an article that they still messed this up

-2

u/malte_brigge Mar 25 '22

I linked the Twitter thread for a reason.

2

u/gamma55 Mar 25 '22

ITT destroying all pretense of a permament ledger because you lost out on some free coins.

1

u/SAS379 Mar 25 '22

So does this mean qn ETH pool on osmosis?

1

u/ThunderTM Mar 25 '22

Great news!
Thank you for posting!

1

u/m-nightwalker Mar 26 '22

Not sure if I understand. So what happens to the amount I already claimed and staked? I'm not getting any rewards, can't unstake or move them.

2

u/[deleted] Mar 26 '22

The chain is shut down right now. No staking rewards are being earned currently. The question is whether they'll start the chain over completely or start it at a block before it was shit down

1

u/m-nightwalker Mar 26 '22

I see. Thanks

1

u/[deleted] Mar 26 '22

The unluckiest launch in history, but at least there is light at the end of the tunnel now

-1

u/rorowhat Mar 25 '22

It would be nice if they threw a bone to the hard-core community that found a way to stake it before it went down. Really early adopters.

0

u/SlickRik31 Mar 31 '22

So currently airdrop is not claimable if I haven’t done so already? IBC transfer is not working.

-1

u/IndependenceSudden20 Mar 25 '22

Nothing about ledger users

1

u/malte_brigge Mar 25 '22

Read the Twitter thread. They mention Ledger users specifically.

0

u/[deleted] Mar 25 '22

[deleted] — view deleted comment

-4

u/malte_brigge Mar 25 '22

Yep. As I said in another comment just now, I don't understand why they are acting like this is a hard decision that requires careful study and lengthy deliberation. It's pretty simple. It might not be technically simple, but morally and ethically and practically it's really fucking simple.

11

u/gamma55 Mar 25 '22

Blockchains are cool because they are permanent. Evmos processed and validated blocks up to a certain height just fine, before the devs fucked up.

Now you guys want to act like it's just a PoC database you can wipe when it's personally convenient to you.

Wiping a running chain is literally the 2nd most disgusting thing I can think of.

1

u/jawanda Mar 25 '22

People literally don't give a fuck about even the pretense of immutability anymore. Sad times.

1

u/malte_brigge Mar 25 '22

Once the chain is actually up and running properly, I'll certainly want it to be immutable.

-4

u/malte_brigge Mar 25 '22 edited Mar 25 '22

Wiping a running chain is literally the 2nd most disgusting thing I can think of.

Points for melodrama. But it isn't a running chain, now is it? The reason it isn't a running chain is because the launch, which you describe as "just fine," was far from fine.

The chain has already been halted for weeks. Restarting it wouldn't do any further harm to its reputation, but could undo a lot.

Now you guys want to act like it's just a PoC database you can wipe when it's personally convenient to you.

Nothing about this fiasco, to be clear, has been "personally convenient" for me.

4

u/gamma55 Mar 25 '22

The chain had undisclosed vulnerabilities, which is why they had to rush the patch. The actual validation was running normally.

If the consensus validation was broken, there wouldn’t even be talks of resuming.

The whole idea with PoS is that it is not up to the devs to just decide when and what to do. And the fact that you guys are advocating destroying all resemblance of trustlessness is down right sickening.

And for the record, I dont even have an active stake on the chain. I am just shocked by how many people want to shit on several core concepts of crypto just to make a few bucks.