We have reached the final countdown to the Anvil mainnet launch! The full suite of contract audits has been completed, and the contracts for governance and the ANVL token have been successfully deployed. Distributing the majority of ANVL to the community was the first step, and setting up voting delegation is next. This iterative approach will enable the Anvil core contracts to have decentralized operations and ownership at launch, providing the community full control over the future trajectory of the protocol.
ANVL governance token
The snapshot was taken at Ethereum block height 20,000,000; the corresponding data can be verified on the AF proof repo. A summary of all eligible addresses and their respective claim amounts has also been uploaded for public reference. To verify claims and begin using the ANVL token, three contracts are now live on Ethereum mainnet:
Anvil governance: 0xfe1118cE38818EA3C167929eacb6310CDc42a361
ANVL token: 0x2Ca9242c1810029Efed539F1c60D68B63AD01BFc
ANVL claim: 0xeFd194D4Ff955E8958d132319F31D2aB9f7E29Ac
Snapshot claim process
Eligible addresses need to prove their ANVL claim balance by setting up voting. This is a standard one-step process to verify your balance and delegate your votes to yourself or a third party. If you are not planning to vote directly, please view the Delegate Leaderboard for potential accounts you can support. To begin, visit anvil.xyz/claim and connect your account. In the Set up voting section, click Get Started and follow the prompts, requiring one onchain transaction. Once the process is successful you will see your Locked ANVL balance reflected in your Voting Power on the governance dashboard.
To verify the transaction onchain, you can check that prove and delegate was the method called (see Etherscan example below).
Once you have proved your balance, the Locked ANVL can be claimed when vested; no other actions are required. NOTE: claims that are not proved within 12 months will be subject to forfeiture.
Distribution and liquidity
ANVL has a fixed supply of 100,000,000,000 tokens, with the approximate distribution breakdown as follows: 60% community claim (per vesting schedule), 20% Foundation and team, 10% protocol incentives, 10% ecosystem partners and liquidity. All team tokens have the same vesting schedule as the snapshot claim, and any un-circulating addresses will be updated on Dune and Gitbook for reference.
To provide an opportunity for further decentralization of ANVL tokens and governance participation from day one, initial liquidity will be made available on Uniswap V2. A total of 2,718,281,828.459045235360287471 ANVL will be programmatically supplied to this pool over 100 days.
The pool will be deployed at 13:00 UTC on 17 June 2024, with an initial position created using 45,281,828.459045235360287471 ANVL and 0.1 WETH. For each of the following 99 days, an automated liquidity provisioner contract will add 27,000,000 ANVL to the pool at a random time between 13:00 and 00:00 UTC, using a well-known Uniswap V2 single-sided liquidity algorithm. Provisioning transactions will use flashbots to prevent front-running.
After 100 days, all automated liquidity (WETH and ANVL) will be withdrawn and burned by the admin multisig. Additionally, if at any time the LP token value exceeds 250 WETH, a flashbots transaction will be submitted to withdraw 50% of the position, and the resulting WETH and ANVL will be burned. In the event of significant trading activity that increases the pool value substantially, the contract will make successive 50% cuts until the total value is reduced below the 250 WETH threshold. The Acronym Foundation will not derive any proceeds from this process, as all associated assets will be burned.
Considerable effort has been put into ensuring a transparent and fair approach to liquidity provisioning, designed to minimize potential front-running, manipulation, and volatility, while eliminating any third-party or automated advantage. As the implementation progresses, we plan to publish a more research-oriented post with comprehensive analysis and modeling used in creating this methodology.
What’s next
The Anvil source code will be released in tandem with comprehensive audit results, and reports will be available on GitHub and the Anvil website. This will be followed by the full app launch, and the deployment of the Anvil Vault and Letter of Credit contracts to mainnet. As we approach the launch, all contract addresses will be published on the official X accounts for both Acronym and Anvil, as well as the Anvil website. Please always ensure to verify the correct addresses before interacting with any contracts. Follow Anvil for updates on the protocol and the launch of other community governance channels.
Soon.
-The AF
