#007: Smartcoin collateral holder airdrops!
We're getting into advanced territory here, airdropping onto smartcoin collateral holders on the Bitshares blockchain!
Check out the previous 6 custom airdrop spotlight blog posts for more Bitshares airdrop inspriation!
First off, what is a collateral holder?
Collateral holders are accounts which have borrowed into existence a specified smartcoin on the bitshares blockchain. Simply put, they borrowed some USD for example, using their BTS as collateral for their loan.
But why airdrop onto collateral holders?
- Encourage greater participation in the Bitshares DEX smartcoin borrow functionality
- Offer extra incentives to borrowers for your smartcoin of choice (especially private MPA).
- Since these accounts have active debts on the blockchain it's safe to say their account is active, therefore it may be a better airdrop target than a cold storage account.
- Since these users have entered into a blockchain contract with risk associated, it can be speculated that they have a higher risk tolerance than the average Bitshares user.
- Encourage increased collateralization of debt positions, reducing debt risk and improving resiliency of the smartcoin in question.
- To grow blockchain use of your smartcoin of choice
- Enable creation of algorithm based assets with fee redistribution mechanisms
OK Now let's get down to the code!
To run it, run the command node ./getCollateralHolders.js, this will output the file ./airdrops/collateralHolders.json for use in the Airdrop Tool's custom airdrop page.
Can you spot the difference? It's using the bitsharesjs-ws package to query directly from the blockchain, this is to fetch the call order data (backing collateral holder data) for each smartcoin.
/* eslint-disable max-len */
const fs = require('fs').promises;
const { Apis } = require('bitsharesjs-ws');
const { humanReadableFloat } = require('./lib/common');
// CONFIGURE THE FOLLOWING:
const inputs = [
"CNY",
"CNY1.0",
"USD",
"USD1.0",
"EUR",
"EUR1.0",
"BTC1.0",
"JPY",
"GBP",
"ARS",
"AUD",
"CAD",
"SILVER",
"GOLD",
"BTC",
"TWENTIX",
"HERTZ",
"HERO",
"HONEST.USD",
"HONEST.GBP",
"HONEST.EUR",
"HONEST.USDSHORT",
"HONEST.BTCSHORT",
"HONEST.EOS",
"HONEST.XRP",
"HONEST.ADA",
"HONEST.XAU",
"HONEST.EOSSHORT",
"HONEST.XMRSHORT",
"HONEST.XRPSHORT",
"HONEST.JPYSHORT",
"HONEST.CNYSHORT",
"HONEST.DOTSHORT",
"HONEST.ETHSHORT",
"URTHR",
"SKULD",
"VERTHANDI",
];
// END CONFIGURATION
const writeToFile = async (fileName, data) => {
console.log(`Writing to ${fileName}`);
await fs.writeFile(fileName, JSON.stringify(data, null, 4));
};
/**
* Get the call orders for each asset
* @param {Array} assetIDs
* @returns {[Promise<Object>]}
*/
const getCallOrders = async (assetIDs) => {
await new Promise((resolve) => {
setTimeout(() => {
resolve();
}, 333);
});
try {
await Apis.instance("wss://node.xbts.io/ws", true).init_promise;
} catch (error) {
console.log(error);
return [];
}
let assetSymbols;
try {
assetSymbols = await Apis.instance().db_api().exec('lookup_asset_symbols', [assetIDs]);
} catch (error) {
console.log(error);
}
const backingSymbolIDs = assetSymbols.map((x) => x.options.core_exchange_rate.quote.asset_id);
const backingAssetIDs = [...new Set(backingSymbolIDs)];
let backingSymbols;
try {
backingSymbols = await Apis.instance().db_api().exec('lookup_asset_symbols', [backingAssetIDs]);
} catch (error) {
console.log(error);
}
let responses = [];
for (let i = 0; i < assetIDs.length; i++) {
const currentID = assetIDs[i];
let callOrderResponse;
try {
callOrderResponse = await Apis.instance().db_api().exec("get_call_orders", [currentID, 300]);
} catch (error) {
console.log(error);
}
console.log(`${currentID}: ${callOrderResponse.length}`);
if (callOrderResponse && callOrderResponse.length > 0) {
const baseAssetID = callOrderResponse[0].call_price.base.asset_id;
const currentSymbol = backingSymbols.find((symbol) => symbol.id === baseAssetID);
const readableCollateral = callOrderResponse.map((obj) => ({
id: obj.borrower,
qty: 1,
value: humanReadableFloat(obj.collateral, currentSymbol.precision)
}));
responses = [...responses, ...readableCollateral];
}
}
return responses;
};
const getCollateralHolders = async () => {
let callOrders;
try {
callOrders = await getCallOrders(inputs); // Change these values for your own airdrop!
} catch (error) {
console.log(error);
}
if (!callOrders || !callOrders.length) {
console.log("Fetching call orders failed");
process.exit(0);
}
const finalResultValues = [];
callOrders.forEach((callOrder) => {
const existingUserIndex = finalResultValues.findIndex((user) => user.id === callOrder.id);
if (existingUserIndex !== -1) {
const newValue = { ...finalResultValues[existingUserIndex] };
newValue.value += callOrder.value;
newValue.qty += 1;
finalResultValues[existingUserIndex] = newValue;
} else {
finalResultValues.push(callOrder);
}
});
await writeToFile(
'./airdrops/collateralHolders.json',
finalResultValues.sort((a, b) => b.value - a.value)
);
// exit script
process.exit(0);
};
getCollateralHolders();
This outputs JSON to the ./airdrops/collateralHolders.json file which contains rows like the following:
[
{
"id": "1.2.168607",
"qty": 2,
"value": 22447839.73791
},
{
"id": "1.2.1812553",
"qty": 1,
"value": 1300000
},
{
"id": "1.2.906339",
"qty": 1,
"value": 1184392.19373
},
...
]
These JSON output files can be imported in the custom airdrop section of the Bitshares Airdrop Tool, and broadcast to the Bitshares blockchain via the Bitshares BEET multiwallet:
And finally, the airdrop card prompting you to broadcast the airdrop transaction onto the Bitshares blockchain via the BEET multiwallet:
Once you've broadcast the airdrop via the Beet multiwallet, you'll have an optional receipt like the following for your airdrop:
So, which smartcoins/mpa/pmpa/aba are you interested in performing a collateral holder based airdrop upon?
These developments were brought to you by the NFTEA Gallery.
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