Summary
This proposal is for the re-vote of Proposal 118 to select a NIGHT Airdrop Allocation based on the initial marketing statement to distribute 100% of NIGHT to ADA suppliers at the time of snapshot. In addition the Liqwid Labs core team members will refrain from voting on this proposal with vested LQ DAO Tokens.
Proposal Reasoning
The first NIGHT airdrop related marketing tweet from the Liqwid X account on August 5, 2025 stated ADA lenders would receive 100% of NIGHT. As with all economic or protocol parameter changes the DAO must hold an on-chain vote to ratify this decision. This process began with a temperature check on the Liqwid Governance Forum 2 weeks ago on Wednesday March 4 ahead of the on-chain vote last week which began Wednesday March 11. The 1st Liqwid NIGHT thaw ended on Friday March 6. Given the community reaction to Proposal 118, the Liqwid Labs core team is submitting this proposal to re-vote on the NIGHT allocation with the following options:
Option 1: 100% of NIGHT allocation distributed to ADA suppliers at time of snapshot
Option 2: Some other distribution
*If Option 2 receives the majority of votes a follow-up governance vote will be held to determine the exact distribution amount.
Technical Considerations
The Liqwid Labs core team has completed the work required to allow ADA suppliers to view and confirm their pro-rata share of ADA supplied at the time of the NIGHT snapshot on June 11, 2025, at 00:00 UTC. This amount will correspond to their NIGHT allocation which can be confirmed on the Rewards App. The distribution of the 1st thaw of Liqwid’s NIGHT allocation will take place immediately following the vote if Option 1 is selected.
Clarification on NIGHT Snapshot Timeline
Attributing ADA remaining in Liqwid during the June 11, 2025 snapshot to marketing statements made on the Liqwid X account on August 5, 2025 is incorrect and does not accurately reflect the timeline of events. At the time of the snapshot, there was no advance information regarding how the NIGHT airdrop claim process would function, when the snapshot would take place, or whether ADA held in smart contracts would be eligible.