$NIGHT Airdrop Distribution to LPs, MIN Stakers, and DAO Treasury

Temp Check Discussion
67

I’m neither LP nor MIN holders. But I use Minswap a lot (a winner from the trading competition). Just some observations here:

  1. 15,888,536.16 NIGHT is from LP providers. Technically, thanks to the LP providers that you got that many to claim. 89.4%
  2. LP providers will vote for option 1. But they have no votes.
  3. MIN holders will vote option 2 or 3. Clearly option 2 or 3 will make it.
  4. Initially, option 1 only gives 60% to LPs. The intention of the proposal was always for MIN holders and “DAO” treasury to grab as much as possible.
  5. Nowhere does it say what Minswap (MIN holders and DAO) would do to deserve the benefits from NIGHT airdrops, that are earned by LP providers.

If you want fairness, give the LP providers fair vote power

4 Likes
68

:blue_circle: WHY OPTION 1 IS THE RATIONAL CHOICE

  • snapshot logic protects LP rights

  • avoids liquidity shock

  • maximizes TVL stability

  • strengthens future volume (Midnight, stablecoins)

  • preserves MIN buyback economics

  • avoids staking vs LP conflict

  • keeps governance predictable and fair

  • protects user trust in Minswap DAO decisions

Option 1 = short-term stability + long-term growth foundation.

1 Like
69

In response to the final vote moving to on-chain voting:

Option 1 is the only ballot option that complies with the Minswap DAO LLC Operating Agreement.

  • Art. II §2.2 & §4 / Exhibit A: LP-derived assets cannot be redistributed by governance.

  • Art. XIII §5: Any vote option violating the Agreement is invalid, even if passed.

Putting the final vote on-chain with two invalid options is itself a governance failure, and no announcement on official channels violates the transparency and notice requirement (Art. XI §1).

Even if Option 1 passes, a post-mortem and governance reform are needed. Relying on whales to prevent catastrophic outcomes is not a sustainable model. The DAO should review past proposals, address process gaps, and rebuild trust through transparency and alignment with the Operating Agreement.

1 Like
70

For the love of all that is fair. Please vote for 100% to LP farmers. Liquidity is your product, look after those who give your product value.

71

A reminder to the Minswap team — and especially to those controlling the multisigs:

You are legally prohibited from enacting an invalid governance outcome, even if it wins a token-weighted vote. The Minswap DAO LLC Operating Agreement makes this explicit. Option 3 redistributes LP-derived assets to MIN holders, future LPs, and the DAO treasury, which the Agreement forbids.

A single wallet has now cast 58.5M MIN for Option 3 — roughly $600K and nearly 20% of the entire vote. The optics are extremely bad: a large MIN holder voting directly in their own self-interest to misappropriate an airdrop that legally belongs to liquidity providers.

If Option 3 were enacted, it would permanently damage Minswap’s reputation and undermine confidence in the integrity of the protocol. Over the past three weeks, many community members have raised these concerns repeatedly, and the team has not meaningfully addressed them.

This is not a question of sentiment or voter preferences. It is a question of legal compliance. The Operating Agreement governs what may be enacted — not what appears on a poll. Continuing down the current path risks deep and avoidable conflict that serves no one.

The responsible action is clear: uphold the Operating Agreement. The governance rules are unambiguous, publicly available, and binding on all outcomes, including this one.

1 Like
72

Fully with you on this one. If option 3 is enacted, this can be seen as an asset misappropriation. The fact that MIN holders choose that option does not make it legal. If that happens, the reputation of Minswap will be tarnishes and trust lost - at least for me. Either way, the fact that we have to argue about this even now and that the vote looks the way it does - a lot of damage had already been done. I was very enthusiastic about Minswap until now - but I guess I’ll be taking my liquidity elsewhere and liquidate my MIN tokens.

1 Like
73

How is it fair for LP providers to only earn 40% of their NIGHT? All of the NIGHT earned was due to these providers holding their ADA in Minswap LPs, which prevented them from earning the NIGHT directly. None of the NIGHT was awarded to Minswap because of MIN holdings.