Muon in Action: Multichain Presale, Launches & Airdrops
Muon technology is enabling secure, multichain pre-sales, airdrops and token-launches, with multi-whitelists, conditional checks & double-dipping protection.
The presale for the Muon network token, $MUON, ended on August 10th, with all allocated tokens sold out in less than four days. The sale was a great success, not only due to such a quick sell-out, but also because it marked the successful unveiling of Muon’s own Presale App, which enables projects to run their own sales and airdrops across multiple chains.
Before now, projects that held sales or offered airdrops were technically restricted to one single chain. There were others who, due to the high Mainnet fees, ran corresponding sales on side chains as well as Ethereum Mainnet but were confronted with the potential risk of users/wallets “double-claiming” (buying twice) in airdrops or “double-purchasing” in sales with quotas. In order to tackle this risk, centralized solutions were employed. This method of guaranteeing validity is running counter to decentralization principles, creating attack vectors and unfairness to users.
The ‘Double-Dipping’ Risk
The technical innovation of the muon presale allowed users to claim their allocated number of tokens on seven different chains: Ethereum, Binance, Fantom, Polygon, Optimism, Avalanche and Arbitrum. If a user bought the full daily quota on one chain, they wouldn’t be able to buy on other chains.
In a presale, how can a smart contract make sure that a particular user does not exceed the allocated daily amount by purchasing tokens on two or more different chains?
How has the Muon Presale App eliminated this risk? To claim tokens on a specific chain, a user needs to get a signature from the Muon network which proves they have not received their allocations on any other chains.
Verified signatures on the Muon network have an expiration time, T1 minutes (for example 5 minutes). When a user’s wallet requests a signature, this address is locked on the network for a period of T2 minutes, where T2 is a little larger than T1 (for example 6 minutes), during which no other signatures can be requested by that user from the Muon network. Whether or not the signature is used, it will be unusable after T1. This prevents users from claiming tokens on multiple networks and thus the risk of double-purchasing or double-claiming is eliminated without relying on a single centralized third party.
Ready for 3rd Party Use —Launch Your Project with Muon Tech
The Muon Presale App helps projects engage a much larger audience for their sales and airdrops due to the fact that users find it more convenient to be able to purchase or claim their allocations on whichever chain they desire.
Running a token-sale, airdrop or pre-sale on multiple chains allows a larger user base to participate and is more user-friendly. Besides, since the app is modular, it can also easily be customized and use several whitelists or other parameters to determine eligibility.
If you are a project interested in utilizing Muon’s cross-chain technology for a multi-chain token sale or airdrop, get in touch with the team.
Muon Network
Muon is a decentralized optimistic oracle network that carries out data requests from any source. It acts as a unique inter-blockchain data-availability network that makes messaging and secure data interfacing possible between different chains that are otherwise incompatible.
Learn about Muon here.
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