Eligibility criteria:

• Selenian Network’s early adopters
• $SCRT and $ATOM stakers and holders that can participate in these networks’ governance systems.

Selenian Network will soon launch Selenian DAO, a community-led entity, fully autonomous and transparent. The foundational rules will be laid by smart contracts, executing agreed upon decisions. Selenian Network will also have its governance token, called $SLN.

Source: SelenianDAO & SLN Token 

 

With interoperability at heart, Selenian Network team is dedicated to build the DeFi powerhouse of IBC. We continue to build and ship relentlessly, and we’re waiting all the #IBCGang to join us at the Selenian Basecamp! Now let’s take a look at what we’re planning for our fellow campers.

Unveiling SelenianDAO

Selenian Network will soon launch Selenian DAO, a community-led entity, fully autonomous and transparent. The foundational rules will be laid by smart contracts, executing agreed upon decisions. Selenian Network will also have its governance token, called $SLN.

$SLN token holders will be able to join the governance system by sharing proposals and voting. Ultimately we envision the Selenian Network to be governed entirely by its members who collectively make critical decisions about the future of our moon mission.

We aim to create an alignment of incentives through this governance framework; we want every single contributor to our mission to benefit from the success of the network. We’re building a healthy, robust platform that would generate usage, increasing the value of $SLN tokens. Thus, as the platform succeeds, so will the $SLN holders.

We aim $SLN and other Selenian assets like $SlnUSD and dAssets to hold a strong position in the community by providing engaging, adaptive use cases.

Now let’s understand how $SLN, $SlnUSD and dAssets work together:

• $SlnUSD is a token that has a steady value of one US dollar. It is also the key to the Selenian Network’s lending mechanism.
• A collateralized debt position (CDP) is the position created by locking collateral in the form of dAssets in Selenian’s smart contract to generate its decentralized stablecoin, $SlnUSD. The generated $SlnUSD is basically a decentralized loan backed by the value of the collateral; in order to unlock the collateral, a user needs to pay back the $SlnUSD generated plus the stability fees.
• $SLN token’s primary purpose is to support the stability of $SlnUSD and enable the governance of the protocol. The creation of new $SLN is dependent on the stability of $SLN. Holders of $SLN will make key decisions on the operation and future of the system. If $SlnUSD remains stable, more $SLN is burned, decreasing the total supply. If $SlnUSD fluctuates too far from the one dollar peg, more $SLN is created, increasing the total supply.
• Leveraging IBC and its interoperability capabilities (interchain queries and interchain accounts standards (ICS27), any asset on the IBC ecosystem can be used to fund Selenian Network’s CDP’s. The value of the collateral locked in a CDP needs always to exceed the value of $SlnUSD that it was used to generate. If a position becomes undercollateralized, the assets locked in the smart contract get sold to pay back for the $SlnUSD generated, with an added liquidation penalty and the stability fees.

The distribution plan for $SLN has a direct purpose of growing an active and engaged Selenian community. We divided it into three main pillars:

1. Community token allocation
2. Team distribution
3. Stability pool for treasury & pegging mechanics

We want to meet each and every member of the #IBCGang at Selenian Basecamp. And we come prepared for a warm welcome! Let’s take a closer look at the Airdrop distribution plan for #IBCGang by deep diving into the Community Token Allocation plan.

Airdrop for Selenian Network’s early adopters

We can’t thank you enough for the support you provided since we launched our staking derivative module. As a thank you, we’re planning for a pre-token launch airdrop to our early users! We encourage you to become early adopter, spread the word and contribute to our moon mission!

Airdrop for partner chain users

We’re planning for a community Airdrop for $SCRT and $ATOM stakers and wallet holders that can participate in these networks’ governance systems.

We’re working relentlessly to serve #IBCGang with the best decentralized finance experience, and meticulously looking into every detail to ensure we leave each and every member feeling secure and satisfied. Give us a visit, jump on the feedback channel on discord and follow us on twitter if you have any comments. Always happy to get your feedback.