Airdrops possible on Safe Network?


#1

One of the big use-cases for EOS is airdrops - having a frictionless (zero-fee) platform that is scalable and also has a huge amount of capital (liquidity) in it’s network allows for airdrops to become a reality. Airdrops themselves appear to be a way to get around securities regulations (for the moment anyway).

What is an airdrop? (Link to wikipedia - definition from wikipedia below)

An airdrop for a cryptocurrency is a procedure of distributing tokens by awarding them to existing holders of a particular blockchain currency, such as Bitcoin or Ethereum.[1][2][3] It can also be considered a marketing strategy, since its goal is usually to spread the word about a certain product, coin or exchange in the world of cryptocurrencies. Lately this strategy has become increasingly important due to various social networks, most notably Facebook, refusing to allow adds promoting various virtual coins[4]. In the United States, the practice has raised questions about tax liabilities and whether they amount to income or capital gains[5][6]. There are two ways creators distribute their tokens: selecting random wallets or publishing the event in airdrop lists.

One key aspect of airdrops that is left out of that definition is the fact that the issuers keep a percentage of tokens and, once a market is established for the tokens (listed on an exchange and people are trading them), then the issuers can sell their remaining tokens as required to raise the funds they need for their project.

So I am curious about the possibility of doing airdrops on the Safe Network in the future. Given the anonymity of users on the Safe Network I think it would be a really great thing. I don’t know however if it would even be possible - those doing the airdrop would have to know the account numbers of users - but is that information even available generally?

Perhaps a Safe Airdrop registry would have to be created?

I also found this thread while looking into this, but didn’t find any conclusive info:
https://safenetforum.org/t/would-it-be-possible-for-safe-tokens-to-piggyback-on-proof-of-resource

So my general question for this thread is: What are the limitations/problems/difficulties involved with doing airdrops on the Safe Network down the track? And, is anyone thinking of working on this - i.e. creating an app to manage airdrops?

Cheers


#2

Seems like it would be a good thing for developers to have in the tool bag.


#3

First you need to define what the airdrop is dropping.

There is no mechanism to know IDs. So the users expecting an airdrop would have to give you their ID. A public registry is unwise. Also the users would be best to have a new ID just for the airdrop so their other IDs remain anon.

Only safecoin sends are free. Anything else will require PUT costs.


#4

Perhaps then a DEX (decentralized exchange) app could request users to give them access to one of the users accounts/wallets.

I presume the put cost here would be minuscule right? Tiny amount of data.

Edit: I wonder … could an app negate the put cost - effectively divert it to it’s own account - such that it was cost free for the user? In these cases of tiny fees it would be easy enough for the app owners to front the cost. The only issue here would be if the user has no safecoin - then they’d be prevented from using the app?


#5

Please can you define or link to a definition of airdrop in the OP.


#6

done! (13 characters)


#7

Thanks, I for one needed that explanation - mostly your addendum.


#8

Yes it should be most of the time.

Well here is a sticking point. What is a wallet on SAFE? For safecoin its pretty easy, its just a datastructure that holds the coin addresses and maybe a part coin balance.

For everything else it has not be defined. coloured coins? balances? in MDs or something else completely innovatively new.

One assumes it will be held in some sort of MD structure, So each user would have a record written to an MD and maybe signed by the coin creator.


#9

Just made a quite possibly stupid (or perhaps not) idea pop in my head. On SAFE we can do smart contracts, on SAFE we can do coins, but coins are made from MD’s which is what you would also use for smart contracts. So on SAFE we could have ‘Smart Coins’ or ‘Smart Contract Coins’ where the smart contract could literally be baked into the coin. Wonder what the benefits or implications of that could be? Just woke up so this is most likely a brain fart but hey.