Airdrop Blueprint

As was stated in the original Auroracoin proclamation, each and every Icelander shall have a chance to claim 31.8 AUR, commencing on midnight March 25th. However, the Auroracoin community has raised concern over what will happen to remaining coins that go unclaimed. It is clear that only those willing to accept the coins will redeem them, and thus it is evident that not all the coins will end up in the hands of the people. For these reasons and in light of the objective of the project - to get as many coins into the hands of the Icelandic population as possible - a slight alteration will be made to the Airdrop parameters without affecting the principle of equal opportunity. The Airdrop will be divided into the following stages:

Stage 1

Every Icelander will be able to claim a gift from me of 31.8 AUR, commencing on midnight March 25th. This stage will last 4 months.

Stage 2

The Airdrop is reset. Every Icelander will be able to claim a part of the coins, left over from Stage 1 in the premine addresses. The amount of coins shall be calculated in the following way: (Stage 1 remaining coins / 330,000 = coins awarded). In this stage and the following, both the original recipients of the coins will able to retrieve their gifts, as well as other Icelanders. This stage will last another 4 months.

Stage 3

The Airdrop is reset again. Every Icelander will again be able to claim a part of the coins, left over from Stage 2 in the premine addresses. The amount of coins shall be calculated in the following way: (Stage 2 remaining coins / 330,000 = coins awarded). This stage will last 4 months. At all stages the claimed coins will be a irreversible gift with full transfer of ownership.

If more than 6% of the total Airdrop supply (10,500,000) remain in the premine addresses after Stage 3, any coins exceeding the 6% mark will be verifiably destroyed.

50% of the remaining coins will go towards a development fund and/or towards an Auroracoin foundation formed by the community. The other 50% will go towards a charity or charities, to be determined democratically by the Auroracoin community.

The right is reserved to repeat the Airdrop reset stages as many times as necessary to get the coins into circulation, as well as any other measure intended for the same purpose.

This method creates an incentive for Icelanders to retrieve their coins early without removing the opportunity to retrieve some coins before the end of the year. Every Icelander shall have an opportunity to get at least the full 31.8 AUR.

Example

  • Stage 1 commences with each and every one able to claim 31.8 AUR.
  • After Stage 1, the total number of coins that have gone into circulation is 4,500,000, leaving 6,000,000 in the premine addresses.
  • Stage 2 commences with each and every one able to now claim 18.18 AUR.
  • After Stage 2, the total number of coins that have gone into circulation is 8,500,000, leaving 2,000,000 in the premine addresses.
  • Stage 3 commences with each and every one able to now claim 6.06 AUR.
  • After Stage 3, the total number of coins that have gone into circulation is 9,500,000, leaving 1,000,000 in the premine addresses.
  • Since the remaining coins are about 9.5% of the total Airdrop amount, about 3.5% of them will be verifiably destroyed.
  • The remaining 630,000 coins will be divided into two parts. 315,000 will go to towards a development fund and/or towards an Auroracoin foundation. 315,000 will go towards a charity cause or causes, to be determined democratically by the Auroracoin community.

  • Technical details on the method of authentication will be released later. Preparations are taking place. As much will be done as possible to minimize the possibility of identity theft and fraud. I can not guarantee a 100% fair outcome of the Airdrop and no claim can be made against me if there are imperfections in the process. However, there is little doubt that the Icelandic ID system creates opportunities to reach a large part of the public through services on the Internet, with a good level of security. As stated earlier, further technical detail on the Airdrop will be posted once it is under way.

    This is a great opportunity to write a new chapter in the monetary history of the world and Auroracoin may serve as a precedent for countries around the globe. I thank the developers and miners for their support and participation. Together we will help Icelanders educate themselves on cryptocurrencies and start using Auroracoin in their daily lives.

    Baldur Friggjar Óðinsson