Concern of ICE airdrop that lead to Baln Selling pressure

Feedback, Suggestions & Questions
#1

Hi Baln Community,

There are highlight the concern of next few month of selling pressure of Baln due to ICE airdrop which i think is valid concern as most of ICX holder will priority the ICE airdrop.

Any suggestion to address this ?

1 Like
#2

Personally, I don’t think this needs to be addressed. BALN price movement isn’t something the team should directly interfere with. If people are prioritizing earning more ICX in anticipation of the ICE airdrop, then it’s possible they’d sell other coins as well in addition to BALN – I’m doing this myself. So, does that mean every coin that ICX holders have should also implement some solution to reduce sell pressure?

With that said, maybe you could make a proposal to buy up some sICX with the DAO Fund and distribute the airdropped ICE proportionally to BALN stakers. I don’t know if/how something like that can be done though.

4 Likes
#3

Thank Sir,

Great thought.

#4

Buy… with what. bnUSD? Sell BALN to buy sICX?

I don’t think I am comfortable with the DAO making investment decisions, if the DAO thinks it should spend bnUSD to buy sICX to get ICE to airdrop to BALN holders… it can just distribute that bnUSD to BALN holders, and they can choose what they wish to buy with it.

But I agree with your main point, this is not something that needs to be addressed.

#5

I don’t think making a proposal to buy will be a good idea. I’m sure the DAO fund has lots of sICX. So one possibility is to airdrop the ICE tokens to BALN stakers - however, I’m not sure if that’s the best way to spend it.

I could see having a promotion to deposit ICE on Balanced and incentivising the LP will be better use.

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#6

You have good point, treasure fund SICX will get ICE , we can make a vote to airdrop ice base on baln holding part of the bonus. Why not. i agree on this. good

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#7

In my opinion this isn’t an issue. And I’m also fine with the DAO getting some ICE from the airdrop.

2 Likes
#8

Hi Balnmax and fellow users

I was actually contemplating doing what you are talking about before I came across your comment so thank you for starting the chat. I am still of to minds although I will just hold and balance my stakes proportionality between staked sICX and Baln.

But I do like @bwhli point and suggestion sounds like a winner to me I’d rather not do anything.
If you could help me and make it clear for me please. Is there anything I need to do in preparation for the drop? Will the drop happen within the balanced platform?
I am currenlty holding ICX on ledger utilizing Myiconwallet to work on Balanced. So I am hoping I am sweet is that right?

Thanks for the help