2021 was an incredible year for Proof-of-Stake. As a major staking provider, we are keen to explore new ways to give back to our delegator community that enables us to pursue our mission to advance the staking ecosystem. For this reason, we decided to initiate the first NFT airdrop to our Solana delegators (see also the official announcement post covering the basics and our reasoning for the ‘Reaction’ drop). In this post, we want to expand on our collaboration with CoherenceNFT going deeper into the background of this initiative and on how our snapshot of on-chain data is impacting the generated art.
After Uniswap’s initial $UNI airdrop, there have been many further iterations to reward initial users and to bootstrap a community of dedicated users. While some airdrops currently try to form a community based on on-chain activity without much of a product (see $SOS and $GAS), others are trying to bring valuable users into their communities; this can especially be seen in the Cosmos ecosystem. Here, Osmosis led the way by airdropping a large portion of tokens to valuable Cosmos community members, an example many others are following, a recent ambitious example being the Evmos Rektdrop. As a validator, we found ourselves in a slightly different situation. We already have a sizable community of delegators earning rewards on their staked assets with us and we wanted to give them something unique to thank them for their support while working towards a larger goal.
We realised that NFTs could serve as a gateway for our ambitions to form an engaged community enabling us to reward our most valued supporters in a crypto-native way. Ultimately, we aim to weave NFTs — including the Reaction drop — into our products and services in creative ways. Stay tuned and hold onto your Reaction NFTs to get access to unique benefits as we explore the possibilities enabled by them!
We decided to begin in the Solana ecosystem, to which we attribute a lot of our success and which has a flourishing NFT ecosystem and low fees; uniquely enabling our initial concept: a large-scale NFT airdrop that is using on-chain data to create art with differing rarities based on our delegators’ profiles. We took a snapshot of the stake accounts delegated to the Chorus One public validator on Dec 8th, set a threshold for delegations of above 0.1 SOL, and aggregated addresses with multiple stake accounts. This resulted in 3,600 unique NFTs which we — in collaboration with CoherenceNFT — decided to further break down into 9 rarities. The NFTs differ in qualities depending on their rarity. This applies to the colours used, which range from new stakers which are coloured in Chorus One greens, to medium duration stakers that are coloured in Solana’s brand colours, to long-term stakers that receive a mix of both. In a similar fashion, the thickness of the lines used in the artworks depends on the amount of stake going from thin for lower amounts of stake to thick for large stakers. The chosen parameters resulted in the distribution illustrated in the image below.
We are thrilled to have started our foray into NFTs and are looking forward to expanding this effort and engaging with various other web3 tools complementing our services. Stay in the loop by jumping onto our Discord, Telegram or showing us your NFTs on Twitter. And while you do that, why not consider staking with us too? Who knows, you could lay your hands on another surprise NFT in the future!
We want to thank CoherenceNFT for this collaboration and are looking forward to engaging with other artists and projects in the NFT space in the future!
I’m excited to work with Chorus One to grow the Solana NFT community by creating an asset to expand the benefits offered to Chorus One stakers. More companies entering the NFT space are making NFT utility and adoption a reality. I’m hoping a broader and more diverse set of businesses and creators are inspired by this to make use of blockchains as a way to fulfil their visions. From a creative point of view, it was really challenging and inspiring to use a new creative mode, where I had to design in advance to reward different ranges of users according to the desired characteristics of the Chorus One team