Congratulations, EOS Holders: You are about to receive DAPP tokens in the first-ever Air-HODL
LiquidApps is proud to introduce the first ever vested Airdrop mechanism to the EOS community. Learn how to use your DAPP tokens here.
NOTICE:
The DAPPHDL has concluded on February 26, 2021. All tokens claimed prior to that date can now be withdrawn with 100% vesting at the following link.
Just three months ago, LiquidApps launched an unprecedented scaling solution on EOS which solves for scarce RAM resources via a three-tier ecosystem called the DAPP Network.
Since then, we have been jam-packed with product launches!
- We had a live product from Day 1 — the vRAM System, an end-to-end decentralized alternative memory solution that is RAM compatible & unlocks critical memory capacity for developers at a fraction of the cost.
- We continued to roll out a suite of services (free virtual accounts, web oracles, XIBC, scheduled tasks services, and a trustless and decentralized random number generator) that give developers the practical tools they need to create dApps they could only dream of building before.
The DAPP Network includes a new provisioning layer of DAPP Service Providers (DSPs), who compete in a free market to provide critical services for developers building EOS dApps. Developers stake DAPP tokens to the DSP service packages in order to unlock the tools & services provided by the DSPs, and over a dozen DSPs are already serving the EOS community. The most popular EOS dApps, from social media to messaging to AI, are integrating DAPP Network technologies to help scale and grow their user base like never before.
Today, LiquidApps is taking another leap towards scalability (and beyond!)
Introducing: The Air-HODL
Airdrops, a token distribution mechanism that’s popular amongst EOS projects, do not incentivize wallet holders to use their tokens for their intended network utilities. Many holders choose instead to sell their tokens immediately.
When designing the DAPP token distribution model, we decided to prioritize actual users of the DAPP Network over those stakeholders who are more focused on short term profit. Since we wanted to both reward the EOS community and contribute to the sustainability of the DAPP Network, we came up with an exciting new model — what if we incorporated a vesting mechanism into an airdrop? Voilà, LiquidApps’ Air-HODL was born!
A Vested Airdrop as the Basis For New Tokenomic Models
Our Air-HODL encourages wallet holders to HODL their tokens on the DAPP Network by penalizing those who sell their tokens. By selling their Air-HODLed tokens, wallet holders forfeit the right to receive any future Air-HODLed tokens, increasing the distribution for the remaining HODLers who chose not to sell.
However, during the vesting period, participants are welcome to stake their Air-HODLed DAPP tokens towards DAPP Service Providers’ (DSPs) service package without forfeiting their future allocation. The vesting period actually provides a unique opportunity for the EOS community to experiment with a range of products, services and utilities offered by the DSPs.
This represents a significant evolution in tokenomic models, as we’ve designed this Air-HODL to better align incentives for long-term network stakeholders — dApp developers, DSPs, and users — while furthering our commitment to the DAPP Network. We’re excited about initiating what we hope will become the new standard for dApp developers to distribute token rewards and drive user engagement across dApps.
How Does It Work?
A total amount of 100,000,000 DAPP will be allocated and divided between all the accounts that hold EOS at block #36,568,000 (“Pioneer Holders”) and distributed via our unique Air-HODL mechanism.
You can view all snapshot information here.
The Air-HODLed DAPP tokens will be distributed on a block by block basis, matching up to a maximum of 3 million EOS per account. The tokens will be continuously vested on a block to block basis over a period of 2 years, so the complete withdrawal will only be possible at the end of this period. These 2 years began as soon as the DAPP Generation Event was launched. Any Pioneer Holder choosing to withdraw the Air-HODLed tokens before the end of those 2 years will only receive the vested portion (i.e. 50% of the distributed DAPP tokens will be vested after 1 year). The remainder of their unvested DAPP tokens will be distributed to Pioneer Holders who are still holding their Air-HODL DAPP tokens.
HODLers are allowed to stake their vested Air-HODLed tokens immediately using our new staking mechanics. Withdrawing the tokens will transfer the vested tokens to their DAPP account, forfeiting the unvested portion to be redistributed amongst remaining eligible participants.
The LiquidApps Air-HODL will be launched on May 30th. However, the vesting of the Air-HODLed tokens began on February 26th, coinciding with the launch of the DAPP Generation Event.
Eligible EOS Holder? Make Sure to Participate in the Air-HODL
If you are a Pioneer Holder, eligible to participate in the Air-HODL, make sure to claim your Air-HODLed DAPP tokens once the Air-HODL is live. All you have to do is execute a “grab” function or “stake” function once, causing the Air-HODL Smart Contract to automatically transfer the RAM cost and mark you as an active participant.
How to Use Air-HODL Tokens
The Air-HODL tokens will be distributed using a smart contract on EOS Account dappairhodl1 with the symbol DAPPHDL. These tokens can be grabbed, staked to a DSP, unstaked from a DSP, and withdrawn to your DAPP account. This new functionality will be available on a number of DSP Portals that are being created by the DSP community; however, you may also use cleos or a block explorer to access this functionality.
In the following sections, instructions for using both cleos and bloks.io will be shown.
To interact with the contract on a block explorer, navigate to bloks.io/account/dappairhodl1 and select the “Contract” tab next to “Account.” DSP-related information such as DSP name, package name, and service name can be found in the “package” table under the “dappservices” account.
Grabbing Your Tokens
To grab your tokens and mark yourself as an active participant use the grab action:
cleos push action dappairhodl1 grab '{"owner":"<your_account>", "ram_payer": "<your_account>"}' -p <your_account>To grab on bloks.io, select the “grab” action then fill in the following information. Once completed, click the “Push Transaction” button:
Staking Your Tokens
To stake your tokens, you must first select a package with a DSP using the normal method:
cleos push action dappservices selectpkg '{"owner":"<your_account>", "provider": "<dsp>", "service":"<service>", "package":"<package>"}' -p <your_account>If using bloks.io, navigate to the “dappservices” account. Select the “selectpkg” action, then fill in the following information:
And then execute a stake command (this also acts as a “grab”):
cleos push action dappairhodl1 stake '{"owner":"<your_account>", "provider": "<dsp>", "service":"<service>", "quantity":"xxx.xxxx DAPPHDL"}' -p <your_account>If using bloks.io, head to the “dappairhodl1” contract. Please note that you must use the symbol “DAPPHDL” and 4 decimals of precision when entering your quantity.
❗️Please note: Staking will also automatically claim your vested share and the share of redistributed forfeited tokens from other holders who withdrew before the vesting period was complete. This means that your DAPPHDL balance may increase after staking. You may execute another staking action to stake these as well. This does not affect your final vested balance when you chose to withdraw. You may also stake to a package from both your Air-HODL account and your regular DAPP account.
Unstaking Your Tokens
To unstake your tokens, use the unstake command:
cleos push action dappairhodl1 unstake '{"owner":"<your_account>", "provider": "<dsp>", "service":"<service>", "quantity":"xxx.xxxx DAPPHDL"}' -p <your_account>Unstake with the same options as you used to stake:
Opening Your DAPP Account
You must have an open DAPP account in order to withdraw your Air-HODL tokens. If you do not have any DAPP tokens already, you may open an account using this action:
cleos push action dappservices open '{"owner":"<your_account>", "symbol": "4,DAPP", "ram_payer":"<your_account>"}' -p <your_account>Here’s what it looks like at bloks.io:
Withdrawing Your Tokens
WARNING: withdrawing will permanently forfeit your unvested tokens! Only proceed if you are sure you wish to do this.
To withdraw your vested tokens, you must first unstake all Air-HODL stakes, and then use the withdraw action. This can also be done via bloks.io.
cleos push action dappairhodl1 withdraw '{"owner":"<your_account>"}' -p <your_account>❗️ Remember: Withdrawing your Air-HODL tokens immediately makes you ineligible for further vesting and forfeits all your unvested tokens. This action is irrevocable. It cannot be undone.
The Air-HODL ushers in a new phase in the life of the DAPP Network.
EOS holders now have an opportunity to experiment and become acquainted with the features and services offered on the DAPP Network. This is the first time a vested airdrop has been done, and we are excited to see how this unique community-building mechanism will be harnessed in the DAPP Network and for additional community projects in the future.
