"Suitdrop" = spacesuit + merchdrop

Definitions

The lower-case "suitdrop" is used generically to mean merchandise drops of anyone or any team that would want to use these primitives for their communities where each each physical item will have its own NFT associated with it. For there to be liquidity available to anyone who wants to purchase a physical merch, one primitive is the bonding curve.

The upper-case Suitdrop is used to refer to the brand.

Proposal

This is a proposal from Interchain.FM to deploy two new primitives to the Osmosis mainnet:

1. The automation of minting/burning of tokens meant for physical merchandise redemption. Once a token is burned and a physical merch is redeemed, minter receives a NFT associated with the unique merch item.
2. A bonding curve that uses $OSMO as the base token to buy the redemption token in #1.

When composed together, what you get is an automated Unisocks mechanism implemented on a bonding curve. Once live, if this prop passes, the bonding curve will use the Cosmwasmpool spec #4810 by Boss Supanat Potiwarakorn to seamlessly integrate with the Osmosis frontend to give you the same great UX of the AMM that you’re familiar with.

Unisocks was a one-off experiment by Uniswap Labs. While they successfully proved the concept, they left an opportunity void by not taking the concept to its logical conclusion—designing a framework to allow anyone to implement it for any merch on its AMM. We think that this use case can lend to greater trading volume as well as provide a lower bound of demand for the Osmosis chain, positioned as the preferred AMM for suitdrops/unisocks of any appchain.

Proposed roadmap

May 31—shirt signing period closes June 1—airdrop snapshot taken June 2—$SHIRT drop (minting starts, place shirt orders on suitdrop.zone) June 2—Bonding Curve Opens (the earlier the redemption, the more cost effective the shirt) Future TBD (ETA: Q1/Q2 ‘24)—Suitdrop-as-a-Service

Now that you understand the value proposition for Osmosis and future users of this framework, here’s how Interchain.FM intends to leverage these contracts, once on-chain.

We intend to achieve two goals by implementing Suitdrop:

1. Prove the idea
2. Provide a playbook

Find the Suitdrop repository here: (https://github.com/SuitDrop/cw-tokens/tree/v0.14.2/contracts/cw20-merkle-airdrop)

Checksum of cw20_merkle_airdrop.wasm: 8b7c74905b53fc0bf3de79d3832e3fc8ff9bcccbb18bce557e6df04dd49b4a60

Tokenomics

The first (of many) suitdrops will be a drop of a limited edition batch of exclusive Cosmos tees. Cosmos is a community-first ecosystem, and as such, you get to put your unique imprint on the tee. When you #signtheshirt, your PFP is collected which will then get printed onto the physical tee. (Current shirt design displayed on suitdrop.zone is a sample placeholder and not the final design of the shirt.)

There will be 500 total $SHIRT tokens in existence, 100 of which will be available for free mints to the top 100 stakers who either 1) stake with Interchain.FM on Osmosis, or 2) is currently staked with a top 20 Osmosis validator and instantly redelegates to a bottom 20 Osmosis validator or Interchain.FM. Make Osmosis decentralized again ;)

$SHIRT has one and only one utility. It’s a redemption token for a physical Cosmos tee. A Cosmos tee can only be redeemed with a $SHIRT. 1 $SHIRT = 1 tee. The snapshot for the recipients of the 100 free mint will be taken on May 23rd. In order to prevent Sybil-attacks attempting to game this suitdrop, only the top 100 accounts ranked in order by staked voting power will get to mint a $SHIRT.

FAQ

1. Why is it called the "suitdrop"?

Wait and see! 😉

2. What is Suitdrop-as-a-Service?

The last item on the roadmap, SaaS, is a permissionless service for automating merchandise drops that various appchains could use. suitdrop.zone will be turned into a storefront for anyone to spin up their own merch stores without having to build and maintain bespoke ones from scratch. If you’re Akash, you could have your merch store under suitdrop.zone/akash. Suitdrop-as-a-service lets projects, artists, and individuals submit custom designs to Suitdrop, which is fully integrated with fulfillers covering 3 continents (North America, Europe, and Australia).

CTA

If you want your PFP to show up on the first suitdrop tee, then #signtheshirt.

Voting Options

1. Voting Yes means you’re in favor of introducing the primitives (cw contracts) to osmosis main chain
2. Voting No means you’re not in favor of introducing these primitives
3. Voting NWV means you’re not in favor of introducing these primitives