Snapshot of WKOIN and claiming process

in #koinoslast year

TL;DR The snapshot of WKOIN will occur on October 31th 2022. All users will receive an encrypted secret in their Hive accounts in order to make the claim in the mainnet.

As you probably know, WKOIN is a wrapped token for Koin created by @harpagon on Hive. It was one of the different ways to buy koins, and it helped people to buy small amounts, specially when the ethereum fees were very high.

As harpagon explained in a post I will continue with the final step of distributing the native Koins during the mainnet. In the last month I've been thinking what would be the best way to make the claiming in a way that would be comfortable for the users but at the same time without requiring a lot of work from my side.
Let me share with you some ideas I had and the final plan that we will use for the claiming.

Thought #1: manual transfers

Initially, my plan was to make a manual claiming process, where people wrote a comment on Hive saying in which address they wanted to receive the tokens, and then I sent them manually. However, this plan has 2 problems: First one is that if people didn't comment and send their address then I would be in an undesired situation where I would be continue holding their tokens for an unknown period of time (then I would have to put a deadline, and I don't like it). And the second problem is the privacy, because these addresses would be visible in Hive for everyone and it would be good to have more privacy if possible.

So I had a new plan...

Thought #2: claiming contract + signature with hive wallet

The idea here is to create a claiming contract similar as the official one for the claiming of the ERC20 tokens from ethereum and then prove the ownership by signing a message with the hive wallet.

Right now I'm more comfortable writing smart contracts on koinos 😀, so this part is good, and it's a very interesting idea. However, this requires more work in the frontend because the website would have to manage the connection with the hive wallet, which requires more time from my side. And also I'm not sure how the addresses are generated on Hive and if they require extra functions that need to be replicated on koinos blockchain. For instance, for the claiming of the ERC20 tokens Koinos Group had to add the keccak256 hash function to the core to be able to compute the ethereum addresses.

So this led me to the third idea and the final idea...

Thought #3 and final: claiming contract + secret shared to each user

So the plan is to send a transaction on hive to each user (like 0.001 HIVE) and put in the memo an encrypted message containing a secret. Then the user will use this secret to connect to a koinos contract to claim the tokens.
In this case the frontend just needs to connect to the Kondor wallet and request the secret to the user. It's also a good option because the users don't have to contact me directly and it's a little more private for users than my first idea.

As I said, now I feel more comfortable writing smart contracts and I think it's a good opportunity to take advantage of the features that koinos offers.

I already started the development of the contract. You can take a look here.

Snapshot on October 31th

With regarding the snapshot I will use the same date as the official one announced for ethereum. So please don't move WKOINs in this date to prevent issues with the snapshot.

I will continue working on the claim contract and also in a webpage for it. As soon as I have it I will launch it in the mainnet so everyone can claim their tokens.


Dear @jga,
May I ask you to review and support the new proposal ( so I can continue to improve and maintain this service?
You can support the new proposal (#240) on Peakd, Ecency, /
or using HiveSigner.

Thank you!

Thank you for sharing!
I am keeping this info.

I just took the snapshot 😃
Any trade after this moment will not be taken into account for the claiming 😉