ION
The Mystery Token of Osmosis
Airdropped at genesis with no defined purpose. A social experiment in decentralized coordination that became a DAO, launched an index token, and wrote its own story.
📜 The Story of ION
Genesis Airdrop
ION appears at Osmosis genesis — airdropped alongside OSMO to ATOM stakers who participated in Cosmos Hub governance before Osmosis launched, and delegators to the Sikka validator. No utility defined. No roadmap. Total supply: ~21,294 ION.
The Community Organizes
With no official purpose, ION holders self-organized. Telegram groups formed. Theories ranged from governance experiments to synthetic assets to "just vibes." The scarcity (~21K supply) drove wild speculation — ION hit $17,000+ per token at peak.
Prop #120 — ION DAO Established
NosNode🔮 proposes Governance Proposal #120: "Ion🧿 DAO & Treasury." The proposal signals that 16,572 clawback ION should be transferred to a new ION DAO treasury. The proposal passes, giving ION holders sovereignty over a massive treasury.
Props #315 & #316 — Contracts Deployed
The ION DAO staking and governance contracts are successfully uploaded to Osmosis. ION holders can now stake ION for voting power in the DAO.
Prop #375 — Treasury Transfer Begins
The first batch of 5,468 ION (33% of the promised 16,572) is transferred from the Osmosis Community Pool to the ION DAO Treasury.
IBCX Launches — The Interchain Index
IBCX (Interchain Basket of Coins) goes live — a fully-collateralized index token representing leading Cosmos ecosystem tokens. Governed by ION holders. Contracts audited by Oak Security.
Bear Market Quiet
Activity tapers off with the broader bear market. ION price falls from thousands to hundreds. The DAO still exists, the contracts still work, but the community is quieter. The infrastructure remains, ready to be revived.
📊 IBCX Composition
💧 ION Liquidity Pools
Live pool data from the Osmosis chain. Pool #2 is the original ION/OSMO pool — one of the first pools created on Osmosis.
👥 Top ION Holders
🏛️ ION DAO
The ION DAO gives token holders direct governance over the ION treasury and products. Built on DAO DAO's contract framework, deployed on Osmosis.
Key Governance Proposals
📊 IBCX — The Interchain Index
IBCX is a fully-collateralized Cosmos index token. Mint it, burn it for underlying assets, or hold it for diversified Cosmos exposure. Governed by ION DAO.