This program can be used to distribute tokens to users. Users get a fraction of the allocated funds, based on their locked vote weight at some point in the future.

Example:

• create_distribution with
  • registration_end_ts = one month from now: This is when the register phase ends and the claim phase begins.
  • weight_ts = one year from now: This is the time for which eligible locked vote weight will be calculated.
  • a specific voter-stake-registry registrar
• deposit tokens to the ATA of the distribution
• anyone with a voter account on the voter-stake-registry registrar can register with the distribution by calling create_participant
• if participants lock up more tokens before registration_end_ts, they can call update_participant to register their new weight
• when registration_end_ts is reached, the claim instruction becomes available
• anyone who's previously registered can claim their share of the deposited tokens, closing their participant account

When users call create_participant their vote weight at weight_ts is calculated, counting only vote weight generated from tokens that are guaranteed to still be locked at that point in time.

For example, weight_ts could be registration_end_ts, allowing anyone to register who has tokens that will still be locked at that time.

Another option is to set weight_ts to a point further in the future. The effect is that a longer minimum lockup time is required for people to be able to claim a part of the distributed tokens.

Concrete examples for

lockup_saturation = 5y
lockup_bonus = 1x
weight_ts = 2y in future
user_token_amount = 1000

1. You have less than a two-year lockup: You have no weight and can't register.
2. You have a three-year cliff lockup: Your weight is the bonus vote weight produced by a one-year cliff lockup: 200.
3. You have a five-year constant lockup: Your weight is the bonus vote weight produced by a three-year cliff lockup: 600.
4. You have a five-year monthly vested lockup: Your weight is the bonus vote weight produced by the 600 tokens that'll still be locked in two years, adjusted for their vesting points. That means 185.

This code is currently not free to use while in development.