Answering Community Questions

August 26, 2022
Answering Community Questions

Hey Cosmonauts! Rebus has received a massive welcome to the Cosmos community, so we would like to thank you all for your support. Recently, we’ve received a lot of questions and queries surrounding the $REBUS airdrop, particularly the minimum staking requirements.

Therefore, we thought it would be best to address the most common questions for all to see. If we did not answer any of your questions, please leave us a comment in our Discord or Telegram groups, and one of our team members will answer you!

Q1: Staking Scenario:

Person A stakes $500 worth of $ATOM → Gets 0 airdropped $REBUS.

Person B stakes $130 worth of $OSMO → Gets 400 airdropped $REBUS.

In your eyes, is this fair to the Cosmos community?

A1: The airdrop logic was never about the fiat value of the other blockchains, but rather the core value those blockchains had in the business development of Rebus.

Evmos is the platform we forked from, which gave us a great kickstart on building ours. Also, users behind Evmos understand our mission, so we feel we need to compensate them highly. Osmosis has also been very responsive to us. We’ve started our application from theirs and will leverage their LBP for the Public Coin Distribution. Their platform is key to a few of our initial TradFi financial products. For those reasons, we feel they deserve significant compensation.

Cosmos is a great framework that most of us have used for many years. We own ATOM ourselves. We believe that any early adopters of the project have been taken care of with the $REBUS airdrop. Unfortunately, giving a reasonable amount of Rebus to the newcomers to ATOM doesn’t make financial sense, or most of them would have to receive only a few $REBUS.

Q2: Who is this Airdrop specifically targeted at?

A2: Early adopters that understand the core functionality of the blockchains we’re airdropping to, which means understanding the Cosmos ecosystem.

Q3: What are the plans for this project in a few words? What will happen after the airdrop?

A3: Our main goal is to leverage key projects in the Cosmos ecosystem to build Staking and Liquidity Pool products that asset managers and banks will sell directly to the TradFi sector. Our goal is to launch the first product by Q1 2023.

Our airdrop is a thank you to the head start we’ve been granted by the Cosmos community and an indicator of us continuing to build, and hopefully, help, the ecosystem in the future.

Q4: Will there be any change in the minimums, or will they stay the same?

A4: If we were to consider a change in the minimums, we would require those under the current minimum to lock their $REBUS for at least one year. However, they could participate in staking, helping the platform with the financial products as they roll out. That said, this is a farfetched idea we are not necessarily considering at this stage.

Q5: How much is $REBUS worth? That might help explain a lot in the decision-making process.

A5: The Public Coin Distribution will determine the price at the end of September. It’s hard to tell at this stage. Things to consider are:

  • Rebus was privately funded.
  • Our asset manager partners have over $6bn under management. If only 2–3% of those assets entered our platform, it would greatly help $REBUS and the Cosmos ecosystem.
  • The team has many years of experience in the Traditional Finance system on top of technical blockchain experience, so we are confident in our decisions and what we are doing.

We understand the question. All our users are asking what the price will be, but the $REBUS price in dollars is only one of several factors that will decide the platform’s success.

The most critical factor for us is adoption. Without adoption, $REBUS will not matter in the first place, as adoption drives the platform’s use. Straight after launch, we have some outstanding projects ready to be released on RebusChain. These projects will bring adoption for $REBUS. On top of these projects, different financial products will be available to the TradFi sector.

Q6: How much was the ATOM worth at the time of the snapshot? What has changed since?

A6: We always considered the business value of the blockchain to Rebuschain and not the price of $ATOM. The snapshot was taken this year on the 14th of July. $ATOM was worth around $8 at the time. Since then, its price has retraced back to $13.

Q7: Some don’t believe the $ATOM requirements to be excessive but believe they’re inconsistent with other requirements.

Is there a specific reason why the USD value is much higher for $ATOM?

A7: Everything depends on the perspective you have. As we have said, we are factoring in the value of blockchain and interoperability with our products.

$ATOM is a much larger market cap, and those staking it most likely received the $OSMO and $EVMOS airdrop. These are the most loyal Cosmos users, and we want to reward that. Therefore we felt the $ATOM requirement was appropriate as we are against wallet splitting for maximum airdrops.

Moving forward, we will be doing a $WAX airdrop, details to be revealed soon, reinforcing our statement that we’re not doing specific airdrops for the value of the coin but the benefit of the platform and partnership will bring to Rebus.

For reference, $WAXP is valued at $0.1, but the ecosystem and its users are far more valuable.

Q8: Do you need to meet all three requirements, or are they unique to each token?

A8: You qualify for a $REBUS airdrop by holding 100 $OSMO, 100 $EVMOS, or 200 $ATOM. You don’t need to meet all three qualifications to get the airdrop. Holding any of them is enough to qualify.

Conclusion

We’re continually grateful for the continued love and support the Cosmos community has given to Rebus! We understand that any airdrop cannot keep everyone happy, so we’ve tried to manage expectations and reality with our airdrop requirements. Soon we hope everyone can get their hands on $REBUS, not just through an airdrop.

Learn more about Rebus

Loading...