[Airdrop] Claim Expiration Time

#1

Context

Last October, Ref Finance released its first Airdrop, called Airdrop One, to reward early adopters of the protocol.

Details:

  • Airdrop contract: s01.ref-airdrop.near
  • Airdrop start: 2021-10-22 00:00 UTC time
  • Total amount: 1,000,000 REF
  • Initial communication: Medium post

Looking closely at the initial communication:

For each airdrop, the airdrop recipient can claim their full REF allocation within the first 2 months after the airdrop distribution is finished. If no action is taken by the user, the unclaimed airdrop token will be transferred back to the DAO treasury.

Airdrop Claim Expiration Time

Looking closely at the contract, the claim expiration time is: 2022-02-22 00:00 UTC time.

The airdrop started at 2021-10-22 00:00 UTC time.

The linear release lasted for one month, which takes us to 2021-11-22 00:00 UTC time.

Then were added three months before expiration time, instead of two, giving more room/time to users to claim their airdrops, which takes us to the above expiration time.

What Does That Mean?

Only users who have never claimed before (called “untouched_balance”) their airdrop, won’t be able to claim and therefore won’t be able to get the rewards/airdrop after this date: 2022-02-22 00:00 UTC time.

Users who have already claimed, at least once, won’t be impacted/affected. They can claim at any time after the expiration time.

Unclaimed Airdrop

So far, users have claimed approx 790K+ of REF tokens out of 1M.

Approx 200K+ REF tokens are untouched/have not been claimed.

You can check the details and balances of the contract looking at:

  • Sodaki
  • Calling the following view method: ‘view s01.ref-airdrop.near get_stats’

If the DAO is getting back a significant amount of REF tokens, some scenarios could be discussed within the community, such as:

  1. Status Quo: as initially described, tokens are back to the DAO treasury
  2. Burning process: unclaimed and expired tokens could be burned, thus being removed definitely from potential circulation in the future
  3. xREF contract: tokens are added as booster to the current single-sided staking contract
  4. Farming contract: tokens are added to one or many pools as liquidity incentives, boosting farming rewards for our farmers

Just sharing a few thoughts, do not hesitate to engage/share your ideas and ask any questions.

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#2

As previously explained above and following the expiration time on the 22nd of February, the owner of the airdrop contract (s01.ref-airdrop.near) initiated (February 24, 2022 at 2:05:46am) the process to transfer the unclaimed REF tokens to the DAO (ref-finance.sputnik-dao.near).

The process turned out to ‘burn’ the 203K REF tokens, instead of transferring them.

The error explaining the unexpected behavior was found and comes from the fact that the receiver MUST be a (i) contract and (ii) has implemented NEP141-ft_on_transfer_call method, which was/is not the case.

Technically speaking, the corresponding 203K REF tokens are locked forever / in limbo on the airdrop account. Reason why the amount can be considered as ‘burned’.

Although the event has a no impact on users and the operations of Ref Finance, it’s worth noting that the amount CANNOT be retrieved and MUST be accounted accordingly.

Please do find below relevant information:

  • Scheduling a call: s01.ref-airdrop.near.donate_to_treasury()
  • Doing account.functionCall()
  • Receipts: 7eJsJqzpS7qQhqBi4R1K645ibvHMe8sGGkrEnY5r19Bj, 4uftnyNmgCDCPy6wwmaZr1Y9jGfHkapbMKAqUoWPrZmq, W8qHjeduCgAGEhuLRTy7RGGtvEoGJP6bab5aEbm1yG1

Log [s01.ref-airdrop.near]: Donating remaining 203133600000000000000000 untouched token balance from s01.ref-airdrop.near to Skyward treasury

Log [s01.ref-airdrop.near]: Donating 40125037076812398427482034 NEAR to Skyward

  • Receipts: HwowKitvAJh3QptyUKs9ArgDB48jgfvv2i8QZi2cPcwQ, 5WQ8QMQaxjz1jFo2DZKtx1zjQkra3LDzohpdsW9QvJEV, GcRcvR5YwibUK9Fmwghugmi4XMvReuziZEjahtD22QrF

Log [s01.ref-airdrop.near]: Transfer 203133600000000000000000 from s01.ref-airdrop.near to ref-airdrop.near

Log [s01.ref-airdrop.near]: Memo: Donating remaining 203133600000000000000000 untouched token balance from s01.ref-airdrop.near to Skyward treasury

  • Receipt: X7JNgwgWqYP1D5t2yFYeoTL4QmUGMfNF1ue86gMpMjW

Failure [s01.ref-airdrop.near]: Error: Cannot find contract code for account ref-airdrop.near

  • Receipt: 4fUJQAXZ39dWVMSYyMeK9WYUuBtwJNJYpLVoRLGRwEvM

Log [s01.ref-airdrop.near]: Refund 203133600000000000000000 from ref-airdrop.near to s01.ref-airdrop.near

  • Transaction Id 416jfzZCYgw17bmp74B8L4B3fEFp8nHwhQnS1vZeUcZy
  • To see the transaction in the NEAR transaction explorer, please check the following link: NEAR Explorer | Transaction
1 Like
#3

Thanks god we still have a FA key, and those unexpected locked token has been saved to refDAO now. See: NEAR Explorer | Transaction
So, everything is fine now. The airdrop goes as plan.

1 Like