Blockchain projects, specifically token foundations, typically used airdrops to distribute tokens. In airdrops, protocols or projects send tokens to specified wallet addresses. But, the organization pays the gas fee. However, as gas prices fluctuate, companies at times have to pay a high fee. As this model is not scalable, a new approach was needed.
To reward the community members, a new method is now in practice, i.e. members claim the rewards themselves. Claim dApp implements this method.
Our Working Of Claim DApp:
To distribute tokens, firstly off-chain data calculation takes place.
In this calculation
- The project or protocol takes a snapshot of its user’s transactions.
- Then, they calculate the hashes of the transaction.
- Afterward, a Merkle tree of these hashes is formed.
This enables access to the data with just the root node. This is essentially how the dApp works. It uses a similar approach as Uniswap to distribute tokens.
Read how Uniswap distributed UNI tokens here.
Blockzero And Claim DApp:
Blockzero Labs has different programs namely XIO Liquidity Program (XLP), XIO Social Initiative (XSI), and XIO foundation payments. The Blockzero labs used to pay for these programs itself.
In recent months Blockzero held a Flashstake competition to extensively test the Flash protocol.
A total of five rounds of this competition are done and dusted. Approximately a hundred thousand dollars were spent in this competition. After every round, a different winner was chosen to receive rewards.
To distribute the rewards among the winners, Blockzero foundation went along with the idea of Claim dApp. Xord made this idea a reality for Blockzero.
Our Working of DApp:
Users can go to https://xio.app/ and connect their wallet to the application. After completing the necessary steps, they can see the claimable token amount.
In November, an approximate amount of five hundred thousand XIO were claimed via the Claim dApp.
Claim DApp And Future:
Such a useful and easy way to claim tokens didn’t stop there. The Claim dApp is now to be used in Blockzero Labs. The studio will launch new tokens in future. A new token is being developed right now which will release in a span of 4 to 5 months.
Flash Token Claim:
The Flash protocol which was launched on 1st January 2021, has its own native $FLASH token. These $FLASH were claimed from this DApp as well. Approximately 10 Million $FLASH were claimed on the day of its launch.
As of 11th January 2021, a total of 1403 accounts have claimed Approximately 14,022,123 $FLASH, which equals around $2,229,580.
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