Recapping Governance Points (GP)
With Speedrun the Waitlist (STW) ended, and the majority of Governance Points (GP) distributed, this blog post aims to answer some of the FAQs related to GP, and clarify what comes next with our points campaign.
Jul 17, 2024
·4 mins read
GP Distribution
STW distributed 377,815,424 GP, out of a total of 630 million total supply. The other campaigns which distributed GP can be seen below:
| Sector | Allocated | % of Supply | Distributed | Remaining |
|---|---|---|---|---|
| STW | 377,815,424 | 60.0% | 377,815,424 | 0 |
| Governance Point Farming | 88,262,010 | 14.0% | 88,262,010 | 0 |
| Keng Lernitas Airdrop | 20,488,800 | 3.3% | 20,488,800 | 0 |
| Milady Airdrop | 20,000,000 | 3.2% | 0 | 20,000,000 |
| Mad Lads Airdrop | 19,930,000 | 3.2% | 0 | 19,930,000 |
| Pudgy Penguin Airdrop | 19,553,600 | 3.1% | 0 | 19,553,600 |
| Berachain Airdrop | 10,027,600 | 1.6% | 0 | 10,027,600 |
| Infinex Early Supporters Airdrop | 10,000,000 | 1.6% | 0 | 10,000,000 |
| Governance Call Participation (GPEC*) | 10,000,000 | 1.6% | 10,000,000 | 0 |
| ARC Community Airdrop | 8,560,000 | 1.4% | 0 | 8,560,000 |
| Staked Sappy Seals Airdrop | 8,050,000 | 1.3% | 0 | 8,050,000 |
| Discord & Twitter Activity (GPEC) | 7,500,000 | 1.2% | 4,260,909 | 3,239,091 |
| Approved XIP Authors | 7,500,000 | 1.2% | 7,500,000 | 0 |
| GP Retirement Fund** | 7,278,565.69 | 1.2% | 0 | 7,278,565.69 |
| Farcaster Campaigns (GPEC) | 5,000,000 | 0.8% | 2,800,000 | 2,200,000 |
| Pythians Airdrop | 5,000,000 | 0.8% | 0 | 5,000,000 |
| Discord Competitions & Events (GPEC) | 2,500,000 | 0.4% | 790,000 | 1,710,000 |
| Active Crypto Testers Airdrop | 1,500,000 | 0.2% | 0 | 1,500,000 |
| Ser DAO Airdrop | 1,034,000 | 0.2% | 0 | 1,034,000 |
| Total | 629,999,999.69 | 100.0% | 512,317,143 | 117,682,856.69 |
* GPEC refers to XIP-15: Governance Points Engagement Campaign.
** The GP Retirement Fund was initiated with a supply of 31,422,565.69 GP. However, XIP-44 & XIP-45 took 16,094,000 and 8,050,000 GP respectively from the fund, leaving it with 7,278,565.69 remaining supply.
Where is my GP?
There are 6 places where a user holds GP
- In your Infinex Account
- Linked to your EOA
- Linked to your NFT
- Linked to your Discord account
- Linked to your Farcaster Account
- Linked to your Github Account
The desired end state of GP is to have all of it held within the Infinex Account. Currently, the CWG is planning to build a migration tool within the Infinex Account, which will implement various new flows for users who do not have their GP in the Infinex Account. This is expected to launch before the end of the Patron NFT Sale.
GP will be used in-app to claim a Patron NFT, meaning users should aim to migrate their GP into their Infinex accounts.
How do I move my GP to my Infinex Account?
If your GP is linked to your EOA or NFT, you’ll be able to use Infinex’s GP Migration app, to migrate your GP to the Infinex Account.
If your GP is linked to your discord account, you can input your Infinex username to a bot, and the GP associated with your discord account will be transferred there. These transfers will be batched and occur daily, and once done, users will no longer see the GP linked to their discord account.
If your GP is linked to your Farcaster account, Infinex will soon deploy a Frame to collect Infinex usernames. GP will then be distributed to those Infinex accounts.
If your GP is linked to your GitHub account, the proposals editor will reach out privately to confirm an Infinex account to receive your GP.
GP Migration App
This Migration App is for the following users to claim, and migrate their GP into their Infinex Accounts.
- Users who have GP associated with their EOA, after participating in Infinex’s initial Governance Farming Campaign. A full list of addresses with their farmed GP can be found here. Please note, points from this campaign were rebased by a factor of 200, following XIP-13.
- Users looking to claim the following airdrops and have deposited at least 50 USD during Speedrun the Waitlist.
- Milady Airdrop - Users must hold an unclaimed* Milady.
- Mad Lads Airdrop - Users must hold an unclaimed* Mad Lad.
- Pudgy Penguin Airdrop - Users must hold an unclaimed* Pudgy Penguin.
- Berachain Airdrop - Users must hold an unclaimed* Bit Bear.
- Users who are looking to claim the following airdrops, and have deposited at least 50 USD during Craterun.
- Arc Community Airdrop - Users must hold an unclaimed* Arc Stellar.
- Staked Sappy Seals Airdrop - Users must be in this spreadsheet.
- Pythians Airdrop - Users must be in this spreadsheet.
- Active Crypto Testers Airdrop - Users must be in this spreadsheet.
- Ser DAO Airdrop - Users must be in this spreadsheet.
This Migration App will launch after the end of Craterun and will allow users to verify their EOA wallet, input their Infinex username, and have their GP transferred to their account.
*There is no snapshot for these NFTs, instead, the GP is attached to an NFT ID. Users can redeem their GP associated with the NFT, and each NFT will be either claimed or unclaimed.
What can you do with my GP?
GP’s only function is exchanging 200,000 GP for a free Patron NFT. 3.15% of the Patron NFT supply will be placed in a pool where users with 200,000 GP can receive a free Patron NFT. This process will be done on Infinex, and requires users to have their GP in their Infinex Account. This pool will open after the end of the Patron NFT sale and will remain open until all the supply is exhausted. There is a total of 3,150 Patron NFTs, with an existing supply of 630,000,000 GP.
What if I have under 200,000 GP?
People with under 200,000 GP will be able to either transfer their GP out of the Infinex Account or transfer additional GP into their account. While GP will be upgraded to a transferrable ERC-20 token in the future, there are no plans for Infinex to integrate the trading of GP in-platform, nor provide any liquidity to the GP.
What’s the plan with GP moving forward?
Most major GP campaigns have concluded, and the only remaining supply is to be used for community engagement campaigns. Moving forward, GP will be sunset in favor of the Patron NFT, and its sole purpose will be to convert to a Patron NFT.
Any Questions?
Join the Infinex Discord for any questions or concerns.