> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cashmere.exchange/llms.txt
> Use this file to discover all available pages before exploring further.

# Airdrop

> How much CSM is airdropped, when, and who it goes to.

20% of the Treasury Safe's 166,500,000 CSM, which is 33,300,000 CSM (5% of the cap), will be airdropped in multiple phases. Where this CSM sits before it is sent is on [Tokenomics](https://docs.cashmere.exchange/mountain/tokenomics.md).

## The first phase

The first phase is on TGE day. It is sent straight to wallets, or collected in the app. It goes to:

* Barn Raising participants
* Goat Street activators and holders
* Early users of Cashmere: testnet and mainnet users, donors, points holders and people on the leaderboard
* Holders of earlier NFTs on Ethereum and Optimism
* Listed NFTs for sale on any secondary market will be excluded.

Barn Raising participants and Goat Street activators get the largest shares. Then come Goat Street holders, earlier Optimism NFT holders, earlier Ethereum NFT holders and on-chain Cashmere users.

For Goat Street holders and activators, the share grows with how many Goat Street goats you hold, how many of them you have activated, and how high their tiers are.

## Later phases

Later phases are weighted by Barns and Goat Street goats.


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