What is ION?
How does it relate to ION? ION is the secondary asset of the Osmosis Zone & AMM. There are 21,294 ION tokens, and they were airdropped to 16,462 addresses. One prerequisite to receive IONs appears to be high rates of governance participation. A lottery element is suspected due to its random quantity distribution and the arbitrariness of who ultimately became recipients.
ION’s code reveals no inflationary mechanism. Little is known so far about its utility, beyond its current de facto use case as a hedge against OSMOS’ daily increase in supply and/or as a speculative asset that will confer still-to-be-determined benefits to its holders. Although the Osmosis team remained tight-lipped regarding ION’s purpose and use case for a week after Osmosis’s launch, Sunny has confirmed ION’s purpose in an interview. It was presented as a social experiment to the Osmosis Lab community: a blank-slate token whose utility is to be determined by a community proposal.
What are we trying to do?
As a community we are trying to get organized so that we can decide the future of ION.